Interest rates cut to 0.25% from 0.5% discussion

chucknorris

Pincher wrote: »

Still, gotta keep some ammunition in reserve, in case the stock market melts down.

That is always my dilemma, miss out on more income v the opportunity to invest further at lower levels. In the end I gave up and took the bird in the hand (more income). As long as I have at least a 15 year horizon I will probably continue to do that.

Pincher

chucknorris wrote: »

In the end I gave up and took the bird in the hand (more income).

The "end" wouldn't happen to be when the market dipped, would it?

chucknorris

Pincher wrote: »

The "end" wouldn't happen to be when the market dipped, would it?

No, it was over a period of time as my fixed rate savings accounts one by one matured, and there was only much lower savings rates on offer.

Pincher

Once upon a time, there was a three year 6% bond from Nationwide, or was it a dream? It's so long ago, sigh.

ffacoffipawb

Pincher wrote: »

Once upon a time, there was a three year 6% bond from Nationwide, or was it a dream? It's so long ago, sigh.

I had a 5 year 5% pa cash ISA with Birmingham Midshires mature at the end of June. I transferred it to a shares ISA with Hargreaves Lansdown so I now have 24 investment trusts yielding just over 4% tax free. There was no cash ISA worth moving it to and I didn't want to lose the tax shelter.

ColdIron

Blimey they're all at it. Just been informed by HL that they're reducing their cash interest rates from 0.05% to 0.0%

bottleandahalf

ffacoffipawb wrote: »

I had a 5 year 5% pa cash ISA with Birmingham Midshires mature at the end of June. I transferred it to a shares ISA with Hargreaves Lansdown so I now have 24 investment trusts yielding just over 4% tax free. There was no cash ISA worth moving it to and I didn't want to lose the tax shelter.

24 IT's??? Crikey that's a lot for 15k.

masonic

ColdIron wrote: »

Blimey they're all at it. Just been informed by HL that they're reducing their cash interest rates from 0.05% to 0.0%

If only there was an alternative to holding cash at HL

robin58

Just been on Santander and they have page on the effects of the rate cut on saving accounts. Doesn't give any new rates yet but says basically interest will go down.

But what gets me is that they have already trimmed their interest rates in the last few weeks, now they want an extra bite of the cherry. Barstewards!!

ManAtHome

robin58 wrote: »

But what gets me is that they have already trimmed their interest rates in the last few weeks, now they want an extra bite of the cherry. Barstewards!!

Wrong target - it's MPs who'll do anything to screw over anyone who has a few quid (should be in their pockets.. and/or are us plebs going to give them a few million in 'consultancy fees' when they 'retire'?).

I suppose Santander could refuse a dip into the £100,000,000,000.00 the govt are inventing, but would you do the same if all your friends and neighbours were getting handouts?