The Top Fixed Interest Savings Discussion Area

jaypers

Is the current thinking that we have probably peaked again, also taking into account the likely 0.25% BOE base rate increase on 22/6 or do people think we will eek out a few more point upwards on fixed deals? I’m about to jump onto another fixed and just wondering whether to wait a couple more weeks.

Swipe

subjecttocontract said:

Al Rayan are offering a 6 month fix at 4.9%
If you're thinking there may be 2 more base rate increases to come a 6 month fix might make sense.

Where is this 2 more BOE hikes coming from? Maybe 1 more but 2? The Fed is expected to pause rates next week.

bristolleedsfan

Swipe said:

subjecttocontract said:

Al Rayan are offering a 6 month fix at 4.9%
If you're thinking there may be 2 more base rate increases to come a 6 month fix might make sense.

The Fed is expected to pause rates next week.

https://www.marketwatch.com/story/fed-might-hike-interest-rates-again-in-june-instead-of-a-skip-some-economists-think-a3c230bd  8th June

VNX

jaypers said:

Is the current thinking that we have probably peaked again, also taking into account the likely 0.25% BOE base rate increase on 22/6 or do people think we will eek out a few more point upwards on fixed deals? I’m about to jump onto another fixed and just wondering whether to wait a couple more weeks.

I’d be inclined to wait a couple of weeks, well I am anyway. I’m in the market for a 2 and a 5 year fix, will open two in the next week with funding windows of 14 days and see what’s what in a couple of weeks always a balance waiting is good but cant wait forever and can lose out waiting 

one article I read earlier was saying how focus is turning from how high to how long in terms of base rates

bertsilver

Does any one think Ford Money will put up their rate, I've a 1 year fix maturing in 10 days.

easysaver

Swipe said:

subjecttocontract said:

Al Rayan are offering a 6 month fix at 4.9%
If you're thinking there may be 2 more base rate increases to come a 6 month fix might make sense.

Where is this 2 more BOE hikes coming from? Maybe 1 more but 2? The Fed is expected to pause rates next week.

Because of core CPI. US core CPI is significantly lower than over here and although there's only a 30% likelihood of a rise by the Fed next week, there's a 70% chance of a rise the meeting after.

InvesterJones

bertsilver said:

Does any one think Ford Money will put up their rate, I've a 1 year fix maturing in 10 days.

At some point, yes. They have only fairly recently increased them though so who knows when.

Frequentlyhere

Can't help but continue to wonder why smartsave have shot themselves in the foot with their own "1 bond per customer" rule, whilst needing to offering table-topping rates to attract new customers.

Their website says "We’ve made the decision that customers can only have one SmartSave savings account at a time. This is so that you’re guaranteed not to exceed the £85,000 FSCS compensation protection, meaning all of your savings are protected"

Which is a rather weak justification given that if they're able to stop you depositing >£85k with one account then why not with more than one? 

Besides which, many/most other providers seem perfectly comfortable with treating their depositors like adults and allowing them to deposit much more than that if they wish. 

My guess is that the real reason is that they just haven't invested in the website enough to have the functionality to cope with it. 

Bizarre though as it also obviously hugely increases the number of customers they have to deal with and therefore their costs rather than garnering lots of repeat depositors with existing accounts.

LJ._2

Frequentlyhere said:

Can't help but continue to wonder why smartsave have shot themselves in the foot with their own "1 bond per customer" rule, whilst needing to offering table-topping rates to attract new customers.

Their website says "We’ve made the decision that customers can only have one SmartSave savings account at a time. This is so that you’re guaranteed not to exceed the £85,000 FSCS compensation protection, meaning all of your savings are protected"

Which is a rather weak justification given that if they're able to stop you depositing >£85k with one account then why not with more than one? 

Besides which, many/most other providers seem perfectly comfortable with treating their depositors like adults and allowing them to deposit much more than that if they wish. 

My guess is that the real reason is that they just haven't invested in the website enough to have the functionality to cope with it. 

Bizarre though as it also obviously hugely increases the number of customers they have to deal with and therefore their costs rather than garnering lots of repeat depositors with existing accounts.

I think it shows that Smartsave are not being reckless with investors money. If you had two accounts with say £85,000 in each and Smartsave went bust, you would only get ONE refund of £85k not for both. Maybe this is why they only allow you one account.

auser99

Kent Reliance 5.2% 1 year and 5.25% 2 year came out last week but didn't see it mentioned on here.


Recognise Bank 5.4% to go top of the 3 year fixes.
1k min, monthly/annually or maturity.