Savings rates edging upwards..??

Alan_Cross

What do people think? I was considering looking for a fixed rate term account imminently but not if the rates are going to improve shortly after I've locked it away!

masonic

I don't think you need to worry about rates going up in the short term.

roddydogs

Ha Ha, their actually reducing, thanks NW BS.

Jo_Blogs

masonic wrote: »

I don't think you need to worry about rates going up in the short term.

I agree

roddydogs wrote: »

Ha Ha, their actually reducing, thanks NW BS.

Perhaps time to look for a better place to save, if you do not like what is being offered

ColdIron

I remember asking myself the same question in 2012 when looking at a 2 year fix at 3.8%. I decided to play it safe and went for a 1 year at 3.55 to avoid being locked into a rubbish rate

Rollinghome

ColdIron wrote: »

I remember asking myself the same question in 2012 when looking at a 2 year fix at 3.8%. I decided to play it safe and went for a 1 year at 3.55 to avoid being locked into a rubbish rate

Those were the days. I put a large lump into an account fixed at 5.15% for 5 years at the beginning of 2010 - but only because it had a 'lose 90 day's interest on early closure' escape clause if/when rates surged upwards. Was put there because I was still cautious about pushing my luck and increasing holdings in shares. Seven years later and share prices are still rising - at the moment.

Expect the unexpected has been a useful motto so who knows...

Alan_Cross

Hmm... I could have sworn I'd noticed a small improvement in rates being offered, especially among the current account switchers and things like Atom and Tesco Bank...

briddj

Alan_Cross wrote: »

Hmm... I could have sworn I'd noticed a small improvement in rates being offered, especially among the current account switchers and things like Atom and Tesco Bank...

Sadly not. The Tesco current account offering is not a new account, it just got a load of publicity as they guaranteed the 3% rate that was already there. Everyone is still cutting.

EdGasket

NS&I putting rates down too.

veryintrigued

Alan_Cross wrote: »

Hmm... I could have sworn I'd noticed a small improvement in rates being offered

You're quite right. I monitor each week and here are the changes from the 5th of Jan to now.

Easy access
Was 1.01 with the P.O and is now 1.05 with West Brom

Notice
Was 1.32 with Secure and is now 1.35 again with Secure for 90 days.

Fixed 1 year was Atom at 1.4 and is now 2 again with Atom

Fixed 2 year was Atom at 1.6 and is now 2.1 again with Atom

ISA transfer was Virgin 0.95 and is now Paragon at 1.05

ISA 1 year was and still is Cyprus at 1.05

ISA 2 year was Aldermore at 1.2 and is now Darlington at 1.25

Alan_Cross

veryintrigued wrote: »

You're quite right. I monitor each week and here are the changes from the 5th of Jan to now.

Easy access
Was 1.01 with the P.O and is now 1.05 with West Brom

Notice
Was 1.32 with Secure and is now 1.35 again with Secure for 90 days.

Fixed 1 year was Atom at 1.4 and is now 2 again with Atom

Fixed 2 year was Atom at 1.6 and is now 2.1 again with Atom

ISA transfer was Virgin 0.95 and is now Paragon at 1.05

ISA 1 year was and still is Cyprus at 1.05

ISA 2 year was Aldermore at 1.2 and is now Darlington at 1.25

Interesting... although most of these are peripheral players. Genuinely, I do sense a certain 'jockeying for position'. The economic situation with actual Brexit (as opposed to the ongoing phony war) doesn't look any too rosy. Inflation is already beginning to feed through, if only as a very small sample of what is still to come...

... I'm old enough to have seen this before. What we can usually expect from such a situation is an upward march of rates for both savers and borrowers. The only question is at what point the trend becomes obvious.

Get those fixed deal mortgage applications in now, guys, while the going's good...