Top Cash ISAs Discussion Area

Ditz

Hello everyone. This is my first thread so apologies if I'm revisiting an issue that you've all done to death already.

If the offer is still open in 2008/09 I want to open a Barclays Tax Haven ISA to take advantage of the 6.5% interest rate.

However, as I have an existing NS&I Isa which I won't be able to transfer into that I am wondering whether it's worth it, or whether I'd be better off opening and ISA with a slightly lower rate that allows transfers, such as Abbey at 6.25% and consolidating my 2007/08 and 2008/09 ISA money into that. For info NS&I Direct ISA is currently 5.8%

Anyone else considering the same question?

Another thing I'm a bit woolly on is whether, if I did open the Barclay's ISA in April 08, I'd be able to transfer it elsewhere within the same tax year were the rate to drop. I opened my NS&I ISA in November 2007 when the rate was the market leader and Martin's top tip - it's since fallen but I've assumed I'm stuck with it during this tax year.

Look forward to hearing from anyone with any views.

crispeater

i'm still running round like a headless chicken in this ISA business..

in people's personal experiences etc which do you consider to be the best.

thanks in advance

10_66

Ditz wrote: »

If the offer is still open in 2008/09 I want to open a Barclays Tax Haven ISA to take advantage of the 6.5% interest rate.

However, as I have an existing NS&I Isa which I won't be able to transfer into that I am wondering whether it's worth it, or whether I'd be better off opening and ISA with a slightly lower rate that allows transfers, such as Abbey at 6.25% and consolidating my 2007/08 and 2008/09 ISA money into that. For info NS&I Direct ISA is currently 5.8%

Another thing I'm a bit woolly on is whether, if I did open the Barclay's ISA in April 08, I'd be able to transfer it elsewhere within the same tax year were the rate to drop. I opened my NS&I ISA in November 2007 when the rate was the market leader and Martin's top tip - it's since fallen but I've assumed I'm stuck with it during this tax year.

There's no reason why you should consolidate your ISA's (unless it takes you over the £9,000 required for a Lloyds fixed at 6.50%), you're best going with whoever offers the best rate. So you could stick with your choice of Barclays, and then choose the best provider who allow transfers in for your NS&I.

You would be able to transfer your Barclays ISA eleswhere if you did open a Barclays ISA and wanted to transfer out during the year.

10_66

crispeater wrote: »

i'm still running round like a headless chicken in this ISA business..

in people's personal experiences etc which do you consider to be the best.

thanks in advance

It depends on whether you want a fixed rate (restrictions on withdrawals usually apply), or a variable rate (usually instant access). Nationwide are offering a fixed rate of 6.15% at present (which permits transfers in), Lloyds fixed at 6.50% if you've go £9,000 or more and Barclays Tax Haven variable rate of 6.50% (which doesn't permit transfers in). B&B are supposed to be bringing out a fixed rate at 6.25% next week for the tax year 08/09, but no details available yet.

King_Weasel

crispeater wrote: »

i'm still running round like a headless chicken in this ISA business..

in people's personal experiences etc which do you consider to be the best.

thanks in advance

I take it we're talking cash ISAs, not stocks & shares. The main thing is to stop running soon and stick your money somewhere or you will be too late for this year.You can always switch later.

kcsc

Trying to make sense off all this isa stuff min, max, self select isa we don’t hold any isa at the moment one pep which I believe is soon going to become a isa
well here goes we have got shares in few company’s some going back more than ten years we have some paper certificates other are being held for us one or two in joint names most are in individual names all with different share registers most have been free issues from banks building societies power company s , right issues want to keep most off them at the moment except for possible one which was a penny share but has made small profit held for ten years and never been paid a dividend to date but thinking off using this money to buy more” how silly in this current market” can also put some cash into opening an isa only one off us is a tax payer at the moment several bank building societies accounts current accounts and deposit not getting any return and have not for a long time.
[FONT=&quot]so where do I start ? to make these thing work
[/FONT] 1-put all the shares with one broker ! register ? and any suggestions.
2-Split it - some in isa this year and some for after 5th april
3-Type off isa min max self select cash

4-Or is there a better route for savings and shares


[FONT=&quot]Not rich just stupid and confused need to make a start somewhere some, time had our heads in the sand for to long need
[/FONT]

crispeater

i dont want to play with stocks and shares thats far to scarey for me. i also want instant access and definately dont have £9k to move anywhere lol
i have about £800 in savings that i want to move and i'm waiting for a £2K cheque and i doubt that will come before the end of the year so i'd ideally like to move the 800 somewhere. so if i open a nationwide one for this year and then check out the B&B one for next year?? i wonder if i would be able to put the £2K in and move the £800 without it affecting my limit?

am i making sense because i swear i'm just confusing myself lol

daveonline

Crispeater, it does sound like your getting in a bit of a pickle. If you need instant access then the two your refering to that 10_66 mentions above are unsuitable as they are fixed rates and will usually have penalties to get to your money.

For instant access look at Barclays 6.5%, Abbey and A&L pay 6.25%. They all included a bonus for about a year so you will need to keep an eye on the rate and may need to transfer this time next year.

Also, you have an ISA allowance of £3600 from Apr 08 until Apr 09, so unless you want to deposit more than this between these dates you dont need to rush to use this years allowance (£3000), it sounds like you would be much happier finding the right one rather than rush into one, its worth remembering that rates can change though.

Hope this makes sense.

crispeater

dave i wish i could thank you twice lol

bristolleedsfan

crispeater wrote: »

dave i wish i could thank you twice lol

:T ive thanked dave a second time on your behalf. :beer: