The Top Easy Access Savings Discussion Area

Mr._H_2

JimmyTheWig wrote: »

As long as you are in it for the long term (5-10+ years) I don't see a problem with this strategy.

Nonsense. If property is going to fall another 25% before starting to climb again, you're going to be much better off saving the money now and then investing in a few years time.

At this rate, it looks like if you invest in property now, in 5 years time you'd still be looking at a loss or break-even.

JimmyTheWig

Mr._H wrote: »

Nonsense. If property is going to fall another 25% before starting to climb again, you're going to be much better off saving the money now and then investing in a few years time.

That's true, I didn't really look at it from that angle.
As long as you are able to relatively acurately pin-point when prices are lowest.

Notice, also, that Skidder got a "bargain house". Maybe he used future falls in value to his advantage now?

matthewdh

This is my first post - I couldn't find a similar topic in the thread (but I may have missed it).

The top paying Alliance & Leicester eSaver (issue 2) looks good for my wife and I, but we loose a months interest if we withdraw even a £1 in any month (except July). We want to withdraw a few hundred each month so can we do this?

1 Open an a/c in my name and stick £10,000 in it.

2 Open an a/c in my wife's name and stick £1 in it

3 On 1 Jan we completed empty my account, leave £500 in our current a/c and put £9,500 in my wife's a/c

4 On 1 Feb we empty my wife's a/c, leave £500 in our current a/c and put £9,000 back in my account.

...and so on.

This way I think we always get the months interest on the large ammount.

Does this sound like it would work?

Thanks

michaels

matthewdh wrote: »

This is my first post - I couldn't find a similar topic in the thread (but I may have missed it).

The top paying Alliance & Leicester eSaver (issue 2) looks good for my wife and I, but we loose a months interest if we withdraw even a £1 in any month (except July). We want to withdraw a few hundred each month so can we do this?

1 Open an a/c in my name and stick £10,000 in it.

2 Open an a/c in my wife's name and stick £1 in it

3 On 1 Jan we completed empty my account, leave £500 in our current a/c and put £9,500 in my wife's a/c

4 On 1 Feb we empty my wife's a/c, leave £500 in our current a/c and put £9,000 back in my account.

...and so on.

This way I think we always get the months interest on the large ammount.

Does this sound like it would work?

Thanks

Will work if the xfer between accounts in different names is instant which I think it is now. I managed to open issue 1 and issue 2 esavers which made this route very easy

NikkyWikky

michaels, i think the max limit you can transfer from ur current account in a day is 25k. So as long as your under that amount you should be able to transfer it between all accounts on the same day.


also note that the interest rate for e-saver issue 2 has dropped to 5.00%

Geoffo_M

MiserlyMartin wrote: »

Anyway who at the moment feels secure enough in their jobs to take on a mortgage?

Anyone working in the public sector I would say. It's a different world there!

luv_my_brass

Gambit wrote: »

Agree with you there. Everytime I try to do anything with that bank they manage to mess it up somehow... :mad:

Not quite the right thread for this, but as you were complaining about Abbey......
I decided to take advantage of their 0% interest for 6 months with no transfer fee, and they offered me a max of 3k, the actual amount I want to transfer is 31/2k but decided to accept the 3k. When I went to do the actual transfer, they told me that they automatically deduct 5% "incase I'm late with a payment". But as I always pay the monthly fee by DD, there would be no chance of this happening, anyway, they would probaby charge interest. So I am only going to be able to transfer £2,850. Which means I have to find approx. £750. Not a problem - I'm only 'card tarting' anway. but thought anyone else not aware of this 'Abbey habit' ought to know. :rolleyes:

chambta

NikkyWikky wrote: »

michaels, i think the max limit you can transfer from ur current account in a day is 25k. So as long as your under that amount you should be able to transfer it between all accounts on the same day.


also note that the interest rate for e-saver issue 2 has dropped to 5.00%

I was told on the phone today by A&L that mine was now 4.06 or thereabouts so I closed it.

ADoc

I've just stashed some case at between 5% and 6% FIXED
My view is that base rate will be zero soon and savings will be getting 0.25%
All is instant access and some idiots even let me add to the account up to £9m (I wish)
Though these deals are disappearing, I must say.
The ICICI account appears attractive on a rates perspective, but is it that much better? I'd rather stay onshore. If you disagree, check out the cost of CDS protection on ICICI and UK Government. They are not as low as you might think.

Geoffo_M

ADoc wrote: »

I've just stashed some case at between 5% and 6% FIXED
My view is that base rate will be zero soon and savings will be getting 0.25%
All is instant access and some idiots even let me add to the account up to £9m (I wish)

Are you saying you have just "stashed your cash" in an instant access account that has a fixed rate? We would be very interested to hear who that was with?