Cash ISAs: The Best Currently Available List

Yellowman

Are there any experiences with Penrith Building Society's easy-access ISA Issue 3 at 2.75%?

It can only be opened and managed by visiting a branch or by post.

There is a printable online application form but it appears only to include payments in by cheque and not ISA transfers in, even though the website states these are allowed.

Malchester

Yellowman said:

Are there any experiences with Penrith Building Society's easy-access ISA Issue 3 at 2.75%?

It can only be opened and managed by visiting a branch or by post.

There is a printable online application form but it appears only to include payments in by cheque and not ISA transfers in, even though the website states these are allowed.

If you download the application form and go to the end of it you should find the transfer in part of the form.  I was interested but went instead for the Virgin 2 year fixed rate ISA at 4.12%. Just in time as today they reduced the rate.

refluxer

Yellowman said:

Are there any experiences with Penrith Building Society's easy-access ISA Issue 3 at 2.75%?

It can only be opened and managed by visiting a branch or by post.

There is a printable online application form but it appears only to include payments in by cheque and not ISA transfers in, even though the website states these are allowed.

It's no longer available, by the looks of it. Not too surprising as it topped the easy access best-buy table with a fantastic rate and it's a tiny outfit with only one branch, I believe ?

Yellowman

refluxer said:

Yellowman said:

Are there any experiences with Penrith Building Society's easy-access ISA Issue 3 at 2.75%?

It can only be opened and managed by visiting a branch or by post.

There is a printable online application form but it appears only to include payments in by cheque and not ISA transfers in, even though the website states these are allowed.

It's no longer available, by the looks of it. Not too surprising as it topped the easy access best-buy table with a fantastic rate and it's a tiny outfit with only one branch, I believe ?

Penrith's website today states:

'Due to the fantastic response to our ISA Issue 3 product, we have reached the product limit.'

A._Badger

Does today's rate reduction from Virgin, and the speed with which offers are being snapped up and withdrawn (I see Secure Trust's 1 year fix has closed already) signal a halt to the rate leapfrogging we've seen in recent weeks? What does the team think? 

I have a fairly large expired ISA waiting to move and can't decide what to do.

intalex

A._Badger said:

Does today's rate reduction from Virgin, and the speed with which offers are being snapped up and withdrawn (I see Secure Trust's 1 year fix has closed already) signal a halt to the rate leapfrogging we've seen in recent weeks? What does the team think? 

I have a fairly large expired ISA waiting to move and can't decide what to do.

That's what I'm also perceiving and so I've taken the Newcastle 2-year fix at 4.03% Gross and Virgin 3-year fix at 4.17% Gross (both monthly interest).

refluxer

A._Badger said:

Does today's rate reduction from Virgin, and the speed with which offers are being snapped up and withdrawn (I see Secure Trust's 1 year fix has closed already) signal a halt to the rate leapfrogging we've seen in recent weeks? What does the team think? 

No, I don't think so. Some banks like Virgin do tweak their rates occasionally, both up and down. I expect 4% could be many people's 'buy it now' rate in which case rates topping this would result in the flurry of activity we've seen recently.

There are a couple more BoE meetings before the end of the year where further rate rises are still expected, I believe.

I'll probably take advantage of some of the better deals around at the moment, but only with chunks of available savings as I prefer to spread them throughout the year and not put all my eggs in one basket. 

alternate

I think you have seen the peak of the rate increases banks are willing to price in at the moment.  If the November increase is significant, as expected, I think there will be another round of competition.

I think the issues are going away quickly because people have been waiting for a decent rate and because banks like Secure Trust, Close Bros and the smaller building societies cap how much they are willing to take in at a time.  Once an issue hits the goal it is time to close it to new applicants.

ISAs are less likely to be over subscribed as people are limited in how much they can put in and rates tend to be less than standard accounts.

Frogletina

savit4l8er said:

intalex said:

Virgin have dropped their fixed rates...

So they have, 

I cannot see which Virgin fixed rates have been changed. I have two Isas open that I haven't funded yet but I'm sure the rates are still the same.

savit4l8er

That's the point of the fix, once open, they don't change. Look at the new fixed rates on offer, the 2 and 3 year have different reference numbers and are now under 4%.