Cash ISAs: The Best Currently Available List

MarkyMarkD

It definitely looks like rates are on the way down right now. Michelle Slade of Moneyfacts reported in the Telegraph that most of the rate changes they are seeing are either product withdrawals or rate reductions.

I think it's something to do with building societies having got enough money in for their financial year-ends at 31 December, and not needing to bolster their figures for a while.

owitemisermusa

MarkyMarkD wrote: »

It definitely looks like rates are on the way down right now. Michelle Slade of Moneyfacts reported in the Telegraph that most of the rate changes they are seeing are either product withdrawals or rate reductions.

I think it's something to do with building societies having got enough money in for their financial year-ends at 31 December, and not needing to bolster their figures for a while.

Does this mean we might get new and improved rates come January?

MarkyMarkD

I doubt it. They don't like reporting low levels of liquidity in their annual accounts. Once they are out of the way, the pressure is off.

emphatiC_hanK

The various tiered interest rates have recently (in the last week) been reduced for the Chelsea Postal ISA 30 ISA - just as I was in the process of transferring a fixed ISA from Northern Rock (all previous year's subscriptions) that is about to mature.

New Rates:

http://www.thechelsea.co.uk/savings/invest_postal30_intro.html

At least the Chelsea account allows partial transfers out, and so I may try and put a chunk of it into another fixed ISA (if I can find one that accepts partial transfers in) as the rates out there for non-fixed accounts are becoming either too low or too volatile.

pem2

For anyone considering the Principality 3yr 4.20% they may be about to withdraw it, although it is still up on their website

https://www.emoneyfacts.co.uk/news/savings-news.aspx?newsarticleid=191460

mary

My ISA with Cheshire is about to mature on 5th Jan. I would like to transfer out, but the only options I seem to see are:
a) I wish to reinvest for a further 12 months
b) Convert to a variable rate Cash Isa (with poor rate)
c) pay funds to my bank account
d) pay funds to another Cheshire account
It doesn't seem to give me the option of having it transferred elsewhere.
So presumably in order not to lose the tax free status I have to convert it to a variable rate Cash Isa and then get it transferred elsewhere.
Anyone else found the same?

Fairwinds

Mine matures 6th Jan - to transfer out you need to do it via the other bank to retain the ISA status - so it would be option b you would want if you want to keep funds within ISA rapper.

I thought 3% was pretty good

mary

That's what I was assuming.

Julian Hodge is 3.25% for 1 year fixed, which is the term I tend to prefer, don't want to tie up any longer than that. Admittedly know very little about them and transferring for .25% on £3,000 ish is a difference of £7.50 ish and there is often a hassle factor involved with any of these transfers, so might well sleep on it!

Thanks anyway.

Fairwinds

That' what I thought and then continued for another year at 3%

owitemisermusa

Thinking about Julian Hodge, any feedback from MSErs? Are they good/solid/safe?
Thanks.