Cash ISAs: The Best Currently Available List

MarkyMarkD

Kazza

I agree with you suspending the list entirely until Monday evening.

I'd suggest that it would be worth doing the same thing around the end of each month following a BBR change, to be honest, as providers don't need to update their websites for 3 days after a rate change according to the Banking Code. Certainly between around the 26th and the 2nd this month, the playing field will not be level, and it is better that people do not move their money around at such a time of uncertainty.

Unfortunately people like Moneyfacts do not follow this principle, so accounts which are not actually likely to remain good value end up being best buys for a few days simply because their rate changes are announced later than others. Principality (for example) changed its rates on 8 December, meaning it was best buy for a week without much actual justification.

bristolleedsfan

Just_landed wrote: »

Haifix fixed rate Isa rates dropping 1st February 2009 see their website.

" Haifix" anyone with any experiences, as ive never heard of them. :laugh:

456789

Bleh damn Halifax - I was interested in that too

skitskut

Just_landed wrote: »

Haifix fixed rate Isa rates dropping 1st February 2009 see their website.

Wow that was lucky - I just applied for one, by way of transfer, at the Jan '09 rate.

They said as long as they receive my transfer within 60 days I'll get this Jan '09 rate although their website seems to contradict this saying the rate is fixed on receipt of opening deposit (which I haven't made yet) and if funded later may be at a different rate.

I had this happen back in May when transferring to their 6.2% ISA, the rate went to 6% before my transfer went through and hence I ended up with 6%.

Have they since changed the rules on this to allow time for transfers? Anyone any experiences?

Lokolo

FS WHY HAVE YOU ONLY JUST SAID THAT!? :mad::mad::mad::mad:

I would have applied for one yday if I knew that lol.

cottager

skitskut wrote: »

Wow that was lucky - I just applied for one, by way of transfer, at the Jan '09 rate.
...
Have they since changed the rules on this to allow time for transfers? Anyone any experiences?

Not sure it's a case of 'changing' the rules as the 60 days has been the same for a little while (as far as Halifax are concerned), but it applies only to transfers in and not to 'new money'.

See Halifax ISA Promise:
http://www.hbosplc.com/media/pressreleases/articles/halifax/2008-08-27-TheHalifax.asp?section=Halifax
For those of us caught up in the Icesave saga who were transferring to a Halifax FRISA it became an oft-quoted link!

But to secure a rate for new money you would have to apply and fund the account before the new rate came into effect, and this also applied to me in early December when I opened a FRISA for this year's sub over the telephone (when they can give you the account number/sort code straight away), on the last day of the old rate, then hotfooted it to the branch to pay in a cheque before the end of the day... which was fine, and secured the rate.

BTW, maybe it's been smoothed out now but don't be unduly alarmed if, when you're first able to see the account online, it shows a lower rate than you're expecting, or indeed even if it shows as a variable ISA rather than fixed (you may even get paperwork to this effect to begin with). It usually sorts itself out to show the right details online after a day or two (and you eventually get confirmation by post it's a FRISA as well), but if it goes on for several days it's best to give them a call. I had one of each -- the transferred FRISA updated itself quite quickly automatically, but the new one hadn't after nearly a week so I rang and pointed this out and it was OK in another couple of days.

Just_landed

bristolleedsfan wrote: »

" Haifix" anyone with any experiences, as ive never heard of them. :laugh:

You cannot have everything :whistle:

The_Enforcer

Kazza242 wrote: »

Yorkshire BS e-ISA - 3.25% :staradmin New Rate :staradmin
Rate guarantee? No. Rate effective from: 01/02/2009.
Minimum deposit: £20,000 (to qualify for the higher rate). Operated via: Internet.
Notes: 3.40% is paid on total balances of £10,000 - £19,999 and 3.30% is paid on total balances of £10 - £9,999.

You'll need to adjust the 'notes' to accord with the lower rate.

Kazza242

The first post of this thread has been updated.

As expected, this has been a major update, as many providers have cut their rates in response to the most recent BOE base rate change.

Variable rate ISAs by Chorley Building Society, Marks & Spencer's Money and Newcastle Building Society have been added to the list.

There have also been a lot of fixed rate ISA additions/changes. The most notable are from Halifax, now paying 4.00% (down 0.10% on their previous offering). Other additions include fixed rate ISAs by Birmingham Midshires, Northern Rock, and building society's, Monmouthshire and Norwich & Peterborough.

I have updated the 'Rate effective:' fields for each of the variable rate ISAs.

The next major update will probably be next weekend, but I will try to do a quick update in midweek to update the rates of all providers who haven't yet announced their rate changes.:)

**Hello The Enforcer - I was still making my edits to the first post when you posted. It should look ok now.:)

MarkyMarkD - Yes, I agree. I think that providers deliberately set out to make their products look better than they actually are by delaying their interest rate cuts for a week or so. They do this to sucker in savers who aren't aware that the rate hasn't been cut yet. The suspension of the list during this period definitely makes it easier to compare rates fairly.

MarkyMarkD

I'd strongly question whether the Chorley BS product should be listed.

Given it has a 0.25% bonus which you only get if you keep the account for a year, it's pretty obvious that the rate is going to go down the tubes in a few months' time and people will be hanging on just for the 0.25% bonus - or wishing they'd never bothered. Without the 0.25%, it's barely competitive. If you have to list it, I think you should list it without the 0.25% bonus - i.e. at the bottom of the list - with a note that IN ADDITION to the rate shown, you get 0.25% on top if you keep the account for a year.

Just my two penn'orth!

Thanks for all the updates.