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Loughborough BS 8% Regular Saver

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
Old Saying Once bitten twice shy
Modern Saying Once Sh*t on Twice Bye!
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Comments

  • Kazza242
    Kazza242 Posts: 2,193 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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.:p
    Please call me 'Kazza'.
  • LittleVoice
    LittleVoice Posts: 8,974 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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.
  • Kazza242
    Kazza242 Posts: 2,193 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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'.
  • Dagobert
    Dagobert Posts: 1,625 Forumite
    The correct identification link on the application page is not working.

    Does anyone know what the id requirements are?
    Dagobert
  • Kazza242
    Kazza242 Posts: 2,193 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Dagobert wrote: »
    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'.
  • SalsaDanca
    SalsaDanca Posts: 434 Forumite
    Part of the Furniture 100 Posts
    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,

    Rob
  • johnydeath
    johnydeath Posts: 163 Forumite
    Part of the Furniture Combo Breaker
    I was told the driving licence was purely for signature verification and could be a photocopy.
  • stphnstevey
    stphnstevey Posts: 3,227 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    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?
  • empfun
    empfun Posts: 608 Forumite
    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 nothing
  • LittleVoice
    LittleVoice Posts: 8,974 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    "Your name".
    Or Loughborough Building Society account "your name"
This discussion has been closed.
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