The Top Fixed Interest Savings Discussion Area

VNX

I’m not a huge fan of smart saves approach but if it helps others to up their rates and they are FSCS protected to so nothing to worry about 

LJ._2

Thumbs_Up said:

SmartSave are waiting for me to get in at 5.50%

I'm wondering if SmartSave will reach 6% with next weeks likely Bank's interest rate rise? Keeping my fingers crossed!

alternate

The recent increases from a high of about 4.5% to current rates (basically since the last inflation figures came out) likely priced in the next rate rise and possibly even the rise after that.

clowning

I had an Atom account mature today and another due in 2 weeks. I can't decide whether to grab 5.4% or hold out for both to mature and to see if they increase at the end of the month

Thumbs_Up

LJ._2 said:

Thumbs_Up said:

SmartSave are waiting for me to get in at 5.50%

I'm wondering if SmartSave will reach 6% with next weeks likely Bank's interest rate rise? Keeping my fingers crossed!

American inflation is now staring to fall away which is a bit embarrassing for the BoE. The Americans went in hard and fast to get inflation down, the BoE tippy-toed around like a big fairy. The economist on here will say it’s unfair to compare both economies for like for like, for starters America is resplendent in their own fossil fuels and renewable energy (energy supplies)

I don’t normally make outlandish bold statements on here, but don’t be surprised if BoE puts up rates by 0.50% this coming meeting.  

 

Alex9384

Thumbs_Up said:

I don’t normally make outlandish bold statements on here, but don’t be surprised if BoE puts up rates by 0.50% this coming meeting.  

Is it necessary though? The effect of rate hikes usually takes some half year or so to reflect in real economy. Inflation has gone down a bit too. Not sure if it can go back up if they paused rate hikes now? Anyway, for us savers, rate hikes are welcome.

pecunianonolet

Thumbs_Up said:

LJ._2 said:

Thumbs_Up said:

SmartSave are waiting for me to get in at 5.50%

I'm wondering if SmartSave will reach 6% with next weeks likely Bank's interest rate rise? Keeping my fingers crossed!

American inflation is now staring to fall away which is a bit embarrassing for the BoE. The Americans went in hard and fast to get inflation down, the BoE tippy-toed around like a big fairy. The economist on here will say it’s unfair to compare both economies for like for like, for starters America is resplendent in their own fossil fuels and renewable energy (energy supplies)

I don’t normally make outlandish bold statements on here, but don’t be surprised if BoE puts up rates by 0.50% this coming meeting.  

 

I said this a long time agao, BOE and not to forget ECB as well, to little too late. A lot of it is imported inflation, we are an import country and currency is weak so the higher prices for import have to be reflected on the market, hence we pay a lot more. What concerns the labour market, we are also a market of imported labour. I dare to mention the B word but without freedom of movement and many other red tape it is simply no longer attractive for many to move, when there is a more attractive offer elsewhere. Demand and supply on the labour market lead to pressures of wage growth (real terms wage growth has been incredibly bad in the past), hence companies need to charge more for their products to pay those higher wages. 

And properties, an incredibly old housing stock, terribly insulated homes all over and many properties are in a condition that they simply need to be knocked down and should be rebuild to an acceptable standard. Wooden frames and plasterboard with a bit of paint isn't going to do it. Housing market, and that is not exclusive to the UK, is totally inflated due to too low intrest rates in the past for too long. A 10% drop wouldn't be a bad thing, unfortunately, the housing market plays too much of a role for the economy and the GDP. Remember the stamp duty reductions during Covid to keep the bubble going or the 95% LTV mortgages... and now moaning that nobody wants or can afford to buy because mortgages are, apparently, too high. 

Infrastructure, especially roads, at a level that is shocking. If I would get a pound for each pothole I hit during the month on the road.... I wouldn't need a salary anymore, the pothole money would be sufficient to have a decent life.

I really wonder, where all the QE money went over the years or decades...

A 1y fix should by now be at least 6.5 - 7% and mortgages at 9-10%, anyone with less than 20% deposit shouldn't be able to buy.

Just my humble opinion. Rant over!

happybagger

LJ._2 said:

Thumbs_Up said:

SmartSave are waiting for me to get in at 5.50%

I'm wondering if SmartSave will reach 6% with next weeks likely Bank's interest rate rise? Keeping my fingers crossed!

Only if someone else tops the table with 5.99%

Alex9384

Even better if borrowing costs are not following the base rate hikes too quickly.

My Halifax CC money transfer offer changed from 0% for 12 months at 4% fee, to 0% for 15 months at 3.5% fee. So lower fee for a longer 0% period.

Zaul22

Atom 6 months is looking good but is it still too early?