The Top Fixed Interest Savings Discussion Area

Alex9384

Zaul22 said:

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

It will probably go up again, but I don't think it's going to make much difference on a 6 month saver.
Even if you deposited 100k for 6 months at 4.74% versus at 5.00%, the difference after 6 months would only be some 130 pounds, or 13 pounds if you save 10k.

If you were waiting to lock in for 3-5 years, that would be a different story.

pecunianonolet

[Deleted User] said:

pecunianonolet said:

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!

1.2 million people migrated to the UK last year alone. There is plenty of labour but it doesn't pay to work.

Not wanting to go into the detail but maybe I wasn't clear enough that I meant EU immigration, specifically skilled labour, as part of the free movement agreement. However, your 1.2m figure is correct of immigration to the UK but for full context we should not forget the 557k that emigrated, leaving a net figure of 606k. We could now elaborate further between immigration and asylum seekers, etc. but that's up to everyone else who want to read about it here. 

My point was that the labour market is a huge contributor of why we will see further interest increases and that rates are still by far too low to combat stagflation. I have two fixes with Atom maturing in August and November and probably will not fix again before there is not 6.x% available. 

Thumbs_Up

Zaul22 said:

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

I think circumstances have change since last year. Last year it was not unusual to see a marketing leading rate appear then disappear within a week or month sometimes even days!

Us savers it seems can act like ravenous vultures ready and waiting to get in quick before all the meat is picked from the bones.

Times are changing, decent savings rates will be the norm for the foreseeable future, but hell, what do I know. Stand by you own convictions and don’t be swayed by tittle-tattle you read on the internet.  

pokemaster

Leeds BS 1 Year Fixed Rate Monthly Income Bond (Issue 1)- 4.54%

Leeds BS 2 Year Fixed Rate Monthly Income Bond (Issue 1) - 4.65%

Leeds BS 3 Year Fixed Rate Monthly Income Bond (Issue 1) - 4.65%

Leeds BS 5 Year Fixed Rate Monthly Income Bond (Issue 1) - 4.49% (new)

(normally any lower than the 4 year one would pay interest yearly - 4year was also the maximum years they did)

Leeds BS 1 Year Fixed Rate Bond (Issue 546) 4.44% - this is up from 4.05%

Leeds BS 2 Year Fixed Rate Bond (Issue 547)- 4.55% (yearly interest) - this is up from 4.20%

Leeds BS 3 Year Fixed Rate Bond (Issue 548) - 4.55% - this is up from 4.25%

Leeds BS 5 Year Fixed Rate Bond (Issue 549) - 4.40% (new)

ALSO noticed:

Zenith Bank (UK) Ltd Raisin UK - 6 Month Fixed Term Deposit- 4.50%

Zenith Bank (UK) Ltd 1 Year Fixed Term Deposit (and via Raisin) - 5.12%

Zenith Bank (UK) Ltd 2 Year Fixed Term Deposit (and via Raisin) - 5.23%

Zenith Bank (UK) Ltd 3 Year Fixed Term Deposit (and via Raisin) - 5.25%

Source: Money Facts

VNX

Smartsave top of the table ahain

1 year 5.43
2 year 5.41

jaypers

Charter at 5pm tonight. Wonder if they will pip Smartsave.

VNX

jaypers said:

Charter at 5pm tonight. Wonder if they will pip Smartsave.

if they do smartsave will add 0.01% straight away 

jaypers

New Charter Fixed rates are out…….

1 Year - 5.40%
18 Months - 5.41%
2 Year - 5.42%

PowerSavingMode

via Hargreaves Lansdown 'Active Savings':

Investec 3 year

AER  |  Gross

5.67% | 6.00%

Apply by 18/06/2023

PowerSavingMode

Also, via Hargreaves Lansdown 'Active Savings':

Investec 2 year

AER  |  Gross

5.45% | 5.60%

Apply by 18/06/2023