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Coventry Building Society
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I to am with Coventry and have this and another type of closed acct also paying 1.4% but with no notification on the other account yet.
1.25% may not be the very highest for instant access these days but it is not far off so still not a bad rate. Better than Ulster who did not increase in December but have now decreased to 1%.0 -
With inflation almost double most of the best savers' rates The Coventry BS could raise their mortgage rates and savings rates but choose not to.
I think the point is that they did raise rates in December last year - but many others did not and now they're competing with organisations charging lower rates for mortgages.
Agree that you should look around, of course, but that's always been the case.0 -
The Coventry are making more money by taking it from savers !
It's about time that mortgage borrowers realised that they have been living in an unusually beneficial time for mortgages. I wonder how many of them borrowed sensibly, instead of loading up to the gills with silly percentage mortgages and made no provision for rates going up?
I wouldn't wish them to have to face the almost monthly mortgage rate rises on rates of over 10% that some of us remember, but is this a case of 'the establishment' not wanting to frighten 'the children'?0 -
If you want to be sure of a interest rate on your savings put in a fixed rate one for length of time you want invested either in ISA or other account. Else it will be a variable rate . You would not complain if interest rate went up so why complain if it goes down- cannot have it both ways.0
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I remember - 10 years ago - Coventry were offering almost 6% on a fixed 10 year savings account (Poppy ?) - if only I had known then, what I know now ...0
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Coventry’s interest rate reductions from 16th March are now listed here:
[FONT="]https://www.coventrybuildingsociety.co.uk/consumer/help/savings/changes-to-rates/changes-to-rates-accounts.html[/FONT]0 -
..thanks for the heads up. we have a poppy account and have today been advised of the rate drop. Seems a bit strange as it has been going down for years, then a rise in base rates and they drop the rates again!!
We have been with them for years, seems a shame but this is taking the p1ss so we will now be moving..."It's everybody's fault but mine...."0 -
Coventry’s interest rate reductions from 16th March are now listed here:
[FONT="]https://www.coventrybuildingsociety.co.uk/consumer/help/savings/changes-to-rates/changes-to-rates-accounts.html[/FONT]
Thanks, that's a relief, it looks like ISAs are unaffected.Stompa0
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