Principality Building Society 1-year Bond

Tragent

I see the Principality has launched a 1-year Direct Fixed Rate Bond paying 6.72% gross interest if held for the full term. Any amount from £1 to £1 million.

Sounds like a good deal to me.

bristolleedsfan

Tragent wrote: »

I see the Principality has launched a 1-year Direct Fixed Rate Bond paying 6.72% gross interest if held for the full term. Any amount from £1 to £1 million.

Sounds like a good deal to me.

http://forums.moneysavingexpert.com/showthread.html?t=530635

Tragent

Missed out on this.

Opened for applications on friday 17 August and closed for applications on tuesday 21 August.

Obviously didn't really want to pay this much interest!! B@@@@@@s!!

free4440273

so it was valid for just one (1) day?????

bristolleedsfan

Tragent wrote: »

Missed out on this.

Opened for applications on friday 17 August and closed for applications on tuesday 21 August.

Obviously didn't really want to pay this much interest!! [EMAIL="B@@@@@@s!!"]B@@@@@@s!![/EMAIL]

reminds me of the saying " u couldnt make it up" :rotfl:

baby_boomer

Tragent wrote: »

Obviously didn't really want to pay this much interest!! B@@@@@@s!!

It's only a medium sized building society.

A combination of MoneyFacts search engine, publicity on sites like this plus the rapid change in future interest rate prospects all over the weekend press will have resulted in a stampede for this bond.

Have they also withdrawn their excellent Members' Reward Bond @ 6.75%? Mutuality at its best .

bristolleedsfan

baby_boomer wrote: »

It's only a medium sized building society.

A combination of MoneyFacts search engine, publicity on sites like this plus the rapid change in future interest rate prospects all over the weekend press will have resulted in a stampede for this bond.

Have they also withdrawn their excellent Members' Reward Bond @ 6.75%? Mutuality at its best .

yip
"1 Year Direct Fixed Rate Bond 'Best Buy' rate

SOLD OUT "



2 year members bond still available, via branches only though.

http://www.principality.co.uk/default.aspx?page=685

baby_boomer

bristolleedsfan wrote: »

via branches only

So some [Welsh] members are more equal than others ?

Or is the 6.75% 2 Year Bond also set to die a death this Friday?

moneylover

BMW one year 6.7% bond also withdrawn from today- however that has had a much longer innings!

free4440273

this is worrying. what do the building societies know that we don't? no hope of bonds exceeding 6.70 per cent then...

baby_boomer

free4440273 wrote: »

this is worrying. what do the building societies know that we don't?

It's not a secret.

baby_boomer wrote: »

the rapid [downward] change in future interest rate prospects all over the weekend press.

The credit crunch has pushed up rates on inter-bank loans, with the result that Bank of England may not need to raise rates to control inflation.

To give you a concrete example. Northern Rock loans are mostly financed by lending (rather than your savings). Those lending rates have gone up even though the bank base rate has stayed the same so NR is going to have to pass on those increases to its customers, reducing their spending power and curbing inflation. And the loss of NR competition in the mortgage market will mean higher mortgage rates all round - with no need for the bank base rate to rise.

And worldwide, the US has also cut interest rates to lessen the credit crunch's impact on the real economy.