The Newcastle Big Home Saver ISA

soulsaver

Archi_Bald wrote: »

I make about £1.2K a year from all those "hardly worth it" bits that are available in the market. I hate that Tesco slogan, but they are right, every little helps

...as long as one isn't missing better opportunities by taking these without considering the possible implications..

Archi_Bald

soulsaver wrote: »

...as long as one isn't missing better opportunities by taking these without considering the possible implications..

One isn't missing better opportunities here, I can assure you. I am maxing out on all the best offers.

But you are generally quite right, jumping into an ISA without considering the alternatives can be rather foolish. As I have said countless times in the last few weeks if you look at my previous posts.

soulsaver

It isn't all about you... which is why it says 'one', not 'you'.

Archi_Bald

I feel royal today so felt personally addressed when you talked about one.

Brighten up

davidm1

how is this better than Nottingham regular saver ISA 4%?

marathonic

Archi_Bald wrote: »

Arrived with the help of the MSE Reg Savings calc which isn't quite up to the job for this because it doesn't allow a mixture of taxable or non taxable savings. You can create a spreadsheet if you want to verify my numbers.

Interest is paid monthly so I make the regular saver as generating £246 after a year and the Santander product, starting with £18,000 and drip feeding down to £3,000 (to ensure you always get 3% in Santander), generates £167.21 (not including the interest generating on the spare £3,000 so as to compare like-to-like) .

This gives a total of £413.21 as opposed to £360 and the added advantage that your money is withing a tax wrapper.

Also, if Santander reduced the interest rate or maximum amount entitled to 3%, you are in a better position with most of your money in the ISA.

Of course, if the ISA drops it's rate, you can always just shift your money back to Santander.

As Archi Bald mentions above, picking up £53.21 extra interest here as well as a bank joining bonus there, etc. results in some pretty good returns.

marathonic

davidm1 wrote: »

how is this better than Nottingham regular saver ISA 4%?

The main thing is that this one can be opened online. However, if I were to venture a guess, I'd imagine that this will stick at 3% for quite a bit longer than Nottinghams will stay at 4%.

When Nottinghams fixed period ends next April, this will probably shift to a pitiful rate - at which point you will, obviously, transfer.

Newcastle are using these products to try to get people to buy into their mortgages so I don't think the rate will drop as quickly.

However, as I say above, the main thing is the ability to open it online.

soulsaver

I was opening a discussion to counter the 'all roses' - but seems to have bogged in minutiae. I could have said £4k @ 5% plus £5k at 4%...
...which would also affect the dynamic ..for some people.

Point is if you, like me, you started at the non isa version, some of that's possible attraction (currently open ended & possibly a significant prospect eventually) this version is probably going to be limited by ISA rules.

And may limit ISA choices in the short term.

innovate

soulsaver wrote: »

Point is if you, like me, you started at the non isa version, some of that's possible attraction (currently open ended & possibly a significant prospect eventually) this version is probably going to be limited by ISA rules

Not trying to be difficult, but I haven't got a clue what you are on about.


Are you saying you have the non ISA version of the Home Saver and you are concerned it will have some sort of limits because of ISA rules? If so, what sort of limits due you have in mind? And how would this be relevant to those who have the ISA version of the account?

wannaberichbtch

Does anyone know, if you set a standing order for this account , can you make additional payment up to the monthly limit by faster payment. My plan is to set the SO at around 25.00 monthly but make ad hoc payments as and when funds allow.