Nationwide Flexclusive ISA - 4.25%, instant access

veryintrigued

DragonQ wrote: »

Might as well stick with Nationwide's 2% rate until January at least. The Issue 4 is 2.25% until the end of 2014 but it doesn't allow transfers in so I doubt they will allow anyone to convert their Issue 1 to Issue 4.

This is what I'm, currently, minded to do. I have another (Halifax 2 year fixed rate) ISA coming to an end in early Feb so I'll probably look to consolidate both this HF and the NW into one early Feb.

tomwakefield

rb10 wrote: »

The 'withdrawal restrictions' are pretty significant ... loss of 6 months' interest.

Depends what you're after. If you can afford to lock the money away then it seems to be a good deal.

DragonQ wrote: »

Exactly, that cannot be considered an instant access account.

Didn't realise you were after instant access.

veryintrigued

tomwakefield wrote: »

Depends what you're after. If you can afford to lock the money away then it seems to be a good deal.



Didn't realise you were after instant access.

I'd be looking at the Leeds 3% 5 year if I were looking to tie up.

typistretired

"The experts" expect interest rates to stay low for a further two and a half years and then will begin to rise. Therefore they advise not to fix for more than two years

Old_Slaphead

typistretired wrote: »

"The experts" expect interest rates to stay low for a further two and a half years and then will begin to rise. Therefore they advise not to fix for more than two years

Depends which experts you're talking about. The "market" suggests a rise could be on the cards within 12 months and rates may start to move in anticipation before then (although it may only be 0.25% or 0.50% - big deal !).
I agree that to fix no more than 2 years looks a sensible option.

Doshwaster

DragonQ wrote: »

Might as well stick with Nationwide's 2% rate until January at least.

I'm coming to that conclusion too. The current crop of transfer-in ISAs aren't attractive so it may be better to take a short-term hit on the interest rate in the hope that better products come to market early next year.

typistretired

That's why I put experts in inverted commas. We have to clutch at straws don't we?

tarnish

What I need is an ISA account that allows transfers in and which increases % with increasing amount invested so that I can gradually transfer all my ISAs into it and gain from the increased size. Banks.BSs please note!

Hominu

tarnish wrote: »

What I need is an ISA account that allows transfers in and which increases % with increasing amount invested so that I can gradually transfer all my ISAs into it and gain from the increased size. Banks.BSs please note!

Already exists, see:

Balance AER
£1 - £4,999 1.30%
£5,000 - £9,999 1.50%
£10,000 - £19,999 1.70%
£20,000 - £39,999 1.85%
£40,000 and over 2.00%

Old_Slaphead

typistretired wrote: »

That's why I put experts in inverted commas. We have to clutch at straws don't we?

Mmmm - I think if we have to endure another 3 years of virtually zero interst rates then I think the savings culture will be well and truely smashed.

But if the BoE forecasting team is included as one of "the experts" then there's no chance of their expectation being anywhere near to the likely outcome (based on past performance).