Upgrading Santander ISA

plj831

I am upgrading my maturing Santander ISA on the 28th March. I will initially upgrade to the 123 Direct ISA Saver at 1.5%. Does anyone know whether I will be able to upgrade it again end of April to the 2 year fixed ISA at 2% for 123 customers? I can't fix it until April when I know about certain other funds that may or may not be available, but need to upgrade by 28th before it drops to low rate. Any info much appreciated.

eskbanker

If the 2% 2 year fix is still available at the end of April then yes you can, but they won't give any guarantees that it will still be available then or that it'll be offering that same rate, although you could take a punt on it in, say, mid April and just not go ahead if you don't want to (depending on the small print as to how long you can have it without funding it).

badger09

plj831 wrote: »

I am upgrading my maturing Santander ISA on the 28th March. I will initially upgrade to the 123 Direct ISA Saver at 1.5%. Does anyone know whether I will be able to upgrade it again end of April to the 2 year fixed ISA at 2% for 123 customers? I can't fix it until April when I know about certain other funds that may or may not be available, but need to upgrade by 28th before it drops to low rate. Any info much appreciated.

Although not absolutely clear, I assume from this that you want to subscribe new money in 2015/16.

According to Santander website you can do so up to 31 May 2015, but can't add any after that date.

http://www.santander.co.uk/uk/isas/2-year-fixed-rate-isa

As eskbanker says, there is no guarantee this product will still be available at the end of April. So, if you're sure its for you, open it now and arrange for your maturing ISA to be transferred after 28 March, then pay in between 6th April and 31 May

plj831

badger09 wrote: »

Although not absolutely clear, I assume from this that you want to subscribe new money in 2015/16.

According to Santander website you can do so up to 31 May 2015, but can't add any after that date.

As eskbanker says, there is no guarantee this product will still be available at the end of April. So, if you're sure its for you, open it now and arrange for your maturing ISA to be transferred after 28 March, then pay in between 6th April and 31 May

Thanks - yes, I have new money for 2015/16 but not sure whether I want to fix it or not. I will upgrade to non fixed 1.5% on Saturday. 14th April I will know about my new money and hopefully upgrade to fixed then.
Thanks again for the responses.