The Top Fixed Interest Savings Discussion Area

ColdIron

jase.2 said:

I’ve already got an email from Coventry building society saying within two weeks they will pass the increase on

I have received the email and mine differs to yours. There is no mention of 'two weeks'. Only 'we'll be in touch with you in the coming weeks'
Could you share the email that you received that said that?

MikeJXE

ColdIron said:

jase.2 said:

I’ve already got an email from Coventry building society saying within two weeks they will pass the increase on

I have received the email and there is no mention of 'two weeks'. Only 'we'll be in touch with you in the coming weeks'
Could you share the email that you received that said that?

It actually says in the coming weeks

RedImp_2

jase.2 said:

Now email from chase 3.3 to 3.8 from 3rd July

Not fixed 

ScarletBea

Well, as a few have said before, I'm fixing at the best rate at the time each application ends. I'd rather have several smaller savings saved at a higher rate than keep them on easy access at a lower rate "for the best time".
Yes, there are some fixed at 3.5%, but they're ending next month and at the time easy access was 2-something...

BooJewels

Thanks for the Charter figures a page back, I'd only checked moments before, so only just missed the change. 

As others have said, I'm going to fix this week, as further delays will cost more than the potential gain in waiting.  I just want to see if others on my shortlist improve shortly, before I decide where.

My next dilemma is whether to put one larger sum in one place, or several smaller accounts.  I'm not in a position where laddering is practical - but I do have other fixes maturing later this year.

hertslady64

I've not seen this mentioned anywhere but when I renewed my fixed saver with Investec said they offered a rate promise. The interest rate was 4.41% when I opened it, but my understanding is I will get whatever the rate is when it matures.
So it wouldn't it be better to stay with the same provider rather than waiting for better rates elsewhere ?

(I also had a similar guarantee from Atom)

BooJewels

That's not how I read it @hertslady64

I read it that if your account is due to mature, they'll offer you a renewal rate as one of your maturity options.  As they usually do this 2 or 3 weeks before your maturity date, the rate they're offering new customers might end up being higher than they offered you in advance - so they'll automatically renew your fix at that better rate if that's the option you choose. Just to ensure that you don't end up renewing with a less favourable rate than a new customer.

hertslady64

@BooJewels
Thank you for your reply. Interesting, I've never read it like that. 
It depends what they mean by renewal rate .
I read it as the rate they gave me when I opened the account as it was a renewal rate.
Where as I think you're reading it as the renewal rate if I take out another fixed rate when this matures.
I guess I'll find out in November 

ColdIron

You will get the rate that it says when you look at your account online

I had a similar letter from Investec in April for a maturing fix. They offered a preferential of 4.40% two weeks before maturity. During the 2 weeks the rate for new customers rose to 4.60% and that's what I got

If you are thinking you will get what ever the prevailing rate is in November you won't, sorry and all that

Minty33

Investec 1 Year 5.68%