Santander dropping interest to 2%

buglawton

saver861 wrote: »

I'm hearing Santander are dropping the top rate interest from 3% to 2% on their 123 current account. That with the hike from £2 to £5 for their current account makes this account somewhat less attractive now.

Trouble is, not many better alternatives?

Hearing the news about lower/zero/negative base rate being predicted I expected Santander to drop to 2.5% pretty soon.
But don't forget Santander just brought in 123 Lite for non-savers.

Anyway, 'I'm hearing' is too much of a tease. Links? Source?

bigadaj

Thrugelmir wrote: »

Chasing yield has been the case the case for some years now. Yields fall but the risk remains the same.

Any thoughts on jamesd's posts about his move from equities into p2p?

I can follow his logic and am to a certain extent following his example, though slowly and to a much lesser extent.

Equities are overvalued in historic terms but there appear few other choices for larger sums.

I like the idea that communism lost the argument a couple of decades ago, and capitalism is the only way forward, but needs to be bailed out by governments when it goes wrong, privatising profits and nationalising debt still seems popular.

YorkshireBoy

buglawton wrote: »

Anyway, 'I'm hearing' is too much of a tease. Links? Source?

There's a link in post #14

buglawton

Which points to another rumour thread that contains a Daily Mail link (authoritative source as we all know) that talks about a 'plot'. Yeah, gonna happen anyway but why do we knock ourselves out about it in advance of hard facts?

Thrugelmir

bigadaj wrote: »

Any thoughts on jamesd's posts about his move from equities into p2p?

Some people are more optimistic than others. That's down to human nature. However you can only call black so many times before on one spin, red or even zero turns up. After decades in finance in various guises I generally err on the side of caution. As things are rarely what they seem. You can mitigate "risks" if you take the time and trouble to research properly. Understanding what you are investing in is key i.e. the business, the market, the company etc etc. I'm happily fully invested in equities. Through which I do have an interest in P2P lenders. As that's where I see the real money being made with the platforms that truly scale up.

jimjames

buglawton wrote: »

Anyway, 'I'm hearing' is too much of a tease. Links? Source?

The thread title is very misleading and makes it sound like facts when it's just a rumour at the moment.

AndyPK

Such a shame if this happens :(