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Loughborough BS 8% Regular Saver

Afahmaep
Posts: 295 Forumite

A fantastic 2 year Variable product. Get in quick before it is fully subscribed
http://www.theloughborough.info/savings/savingsdetail.php?recordID=New%20Regular%20Savers%20PLUS%208.00%%20Gross/AER
http://www.theloughborough.info/savings/savingsdetail.php?recordID=New%20Regular%20Savers%20PLUS%208.00%%20Gross/AER
Old Saying Once bitten twice shy
Modern Saying Once Sh*t on Twice Bye!
Modern Saying Once Sh*t on Twice Bye!
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Comments
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Thanks. I've printed off the application form and will probably get it (along with my ID) in this evening's post.
Who needs the LTSB 1 year monthly saver when you can have this.:pPlease call me 'Kazza'.0 -
It's good but
One difference seems to be that you start the account with the same amount as you will pay in each month, and you can't change this amount except at the time of the anniversary of opening - and you have to write to them to tell them what the change is going to be.
Also you can only make one withdrawal a year - and that includes withdrawing interest.
As indicated above, the rate isn't fixed, though guaranteed to be 2.50% above the Bank of England base rate until 31 March 2009.
It looks as though they have factored in another 0.25% increase in base. However if the rate falls within the year by 0.5% LTSB may still be the better option. But, hey, let's have both.0 -
LittleVoice wrote: »It looks as though they have factored in another 0.25% increase in base. However if the rate falls within the year by 0.5% LTSB may still be the better option. But, hey, let's have both.
I'm pleased Loughborough have launched this, as I already have a LTSB 2 year monthly saver which I opened last May. I agree with what you've said above. Savers who decide to open this new account will have to monitor the interest rate offered, as the rate is not fixed. Although, the interest rate guarantee they offer should ensure that the account will remain competitive until 31 March 2009.
I definitely think this account is better than LTSB's 1 year monthly saver offering because it will allow your money to earn a high rate of interest for two years instead of one. We will be earning interest on our interest. Also you don't need to open a linked current account to apply.Please call me 'Kazza'.0 -
The correct identification link on the application page is not working.
Does anyone know what the id requirements are?Dagobert0 -
The correct identification link on the application page is not working.
Does anyone know what the id requirements are?
This is what it says on the ID requirements page:You will need to provide 2 pieces of identification, one with your name and signature on, such as a driving licence or passport, and one with an address on, such as a utility bill. If you intend to open an account via the post, you will need to provide an additional piece of identification. We will not be able to open an account for you until all pieces of suitable identification have been received. To guard against the dangers of postal interception and fraud, please do not send original personal documents by post, but send copies certified by a professional person.
If you click on 'Savings and Investments' and then under 'Application forms' click on the 'correct identification' link. It will open the page for you. See here.Please call me 'Kazza'.0 -
It was working a few minutes ago, but is now broken again. I phoned them earlier. They require:
A signed document as proof of identity; a driving licence (the paper part, not the photo card) or passport. If you send a copy of the passport, it must be certified by a professional person.
and
Two official documents showing your name and address, such a utility bill and bank statement.
Regards,
Rob0 -
I was told the driving licence was purely for signature verification and could be a photocopy.0
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Me to, photocopy driving licence is fine (with a recent utility bill)
How long is this account? I can't find anything on the website that states the length, only they garantee a rate till 2009. Does this mean it could go on longer than 2 yrs?0 -
If applying by post I guess you have to enclosed a cheque with application form for opening deposit. So what name exactly should the cheque be made out to?I know nothing0
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"Your name".
Or Loughborough Building Society account "your name"0
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