Toisa Discussion & Questions Board (Merged)

MSE_Martin

If you have any questions or want to discuss the best buy toisas - just reply to this message.

To read the original Deal this relates to click here

Martin

System

I have been offered a TOISA by Skipton Building Society (who I had my TESSA with) running at 4.25% plus 0.25% after six months.

Can't fins them on either money supermarket or the Money facts link.

Does this mean the rates are bogus or are they just not included.

Many thanks

Hugh

lisyloo

I do not think you can conclude it's bogus just because it's not there.

Two possibilities I can think of are:

1) It's only available to Skipton TESSA holders and therefore not included.
2) It's very new and has not got on there yet.

Mortgageman

Don't think they are bogus

http://www.skipton.co.uk/investments/products/base_rate_tracker_extra/index.asp

But also not sure it is a Toisa

Mortgageman

Ahh, this explains it better -

http://www.skipton.co.uk/investments/tessa_maturity.asp

So the account mentioned above, I think, is one of their suggestions for where you can invest the interest you have earnt on your tessa, where as the toisa (for the capital) is at a rate of 4.10% (with a 0.25% bonus for 6 months)

MM

isasmurf

I have been offered a TOISA by Skipton Building Society (who I had my TESSA with) running at 4.25% plus 0.25% after six months.

Can't fins them on either money supermarket or the Money facts link.

Just a thought, but perhaps these rates are the new rates from Monday, when a lot of Savings rates are increased following last months BoE increase.

System

Thanks for all the responses.

Perhaps "bogus" was the wrong word, but often there are so many previsos with these deals that the rates mentioned are virtually unobtainable.

I am meeting representatives of Skipton tomorrow so I will know more then.

System

Yorkshire Building Society is offering me a one year fixed rate of 4.75% if I keep my maturing tessa with them. Given that interest rates are likely to rise should I move to say IF or is it a case of a bird in the hand is worth two in the bush. ???

lisyloo

Interest rates are expected to go up another couple of times this year (twice maybe) so this doesn't sound to me like it's a good deal.

IF are withdrawing their ISA very soon so if you want it be quick.
There service is also suffering because of the huge demand.
Don't know about M&S.

Note when I say expected - I mean by proper economists like Roger Bootle of Capital Economics whose predicting rates to rise from the current 4.0% to 4.5%.
Bear in mind that these are forecasts and therefore could be wrong, however it does look like further rises are highly likely.

Bleg

so where would be the best place to transfer my Abbey National Toisa to . I don't believe the rates being offered to me at the moment by the Abbey are very competitive.

Bleg

Well to answer my own question I have just realised it is IF [ ;D]