The Top Fixed Interest Savings Discussion Area

jaypers

Interesting article - https://www.thisismoney.co.uk/money/mortgageshome/article-11885727/When-rates-start-fall-Base-rate-forecasts.html

“James Blower, founder of website, The Savings Guru adds: 'We think that fixed rates have peaked and that the current rebound is being driven by the uncertainty in the markets but that it is temporary and will not be sustained.

Those savers interested in fixed should get the best deals now, before the fall back.”

Nova1307

I am tempted to grab a 5 year fix if the expectation is that FRs are peaking. Tandem are offering 5.85% and I have funds sitting in an EA and so may just switch over. No guarantees of course but if the BoE base rate falls to 3% in 2026 then it could work out well being locked into 5.85% for a further two+ years. 

francoghezzi

Nova1307 said:

I am tempted to grab a 5 year fix if the expectation is that FRs are peaking. Tandem are offering 5.85% and I have funds sitting in an EA and so may just switch over. No guarantees of course but if the BoE base rate falls to 3% in 2026 then it could work out well being locked into 5.85% for a further two+ years. 

I think this is a clever comment.  I put a few quid in a 5.8% 5 years two months ago and am so so happy. Everyone seems attracted by that 6% level but after a year or two they will find a very different market. It is defo time for long contracts

VNX

Same I have 5.8 I think it is with RCI Bank five years happy with that 

refluxer

Nova1307 said:

I am tempted to grab a 5 year fix if the expectation is that FRs are peaking. Tandem are offering 5.85% and I have funds sitting in an EA and so may just switch over. No guarantees of course but if the BoE base rate falls to 3% in 2026 then it could work out well being locked into 5.85% for a further two+ years. 

It's a shame that Tandem don't allow the interest to be paid into the account, otherwise that 5.85% compounded annually for 5 years would average out at a return of around 6.58% PA over that time, which looks even more attractive

Think I'd rather take a slightly lower rate from a bank who offer a compounding option (most do).

BooJewels

I have a 1 year at 3.15% maturing in November and am just contemplating advancing myself some EA funds for a fix now before rates drop any lower - when the fix matures, I'll repay my EA funds.

I have a feeling that they're perhaps as good as they're likely to be right now.  I took a couple of fixes in June at a tiny bit higher than they are now, so am happy to have secured those, but I think they're likely to be falling by November.

intalex

For those dwelling on 5-year fixes, RCI has dropped its rate to 5.65% AER and Recognise has made its 5.75% AER unavailable to new applicants due to high popularity...

francoghezzi

intalex said:

For those dwelling on 5-year fixes, RCI has dropped its rate to 5.65% AER and Recognise has made its 5.75% AER unavailable to new applicants due to high popularity...

HTB fixed 5.75% 5 year has been on the market for a couple of months now, plenty of time to act with a 5.85% 4 years very attractive too

Nova1307

refluxer said:

Nova1307 said:

I am tempted to grab a 5 year fix if the expectation is that FRs are peaking. Tandem are offering 5.85% and I have funds sitting in an EA and so may just switch over. No guarantees of course but if the BoE base rate falls to 3% in 2026 then it could work out well being locked into 5.85% for a further two+ years. 

It's a shame that Tandem don't allow the interest to be paid into the account, otherwise that 5.85% compounded annually for 5 years would average out at a return of around 6.58% PA over that time, which looks even more attractive

Think I'd rather take a slightly lower rate from a bank who offer a compounding option (most do).

Thanks for the heads up. I wasn't aware that Tandem don't pay out interest annually. As a result I have decided to go with United Trust who are offering 5.8%. This also allows me to keep my EA with Tandem who are paying 5% which I believe is currently the best in the market.  

ToastLady

Nova1307 said:

refluxer said:

Nova1307 said:

I am tempted to grab a 5 year fix if the expectation is that FRs are peaking. Tandem are offering 5.85% and I have funds sitting in an EA and so may just switch over. No guarantees of course but if the BoE base rate falls to 3% in 2026 then it could work out well being locked into 5.85% for a further two+ years. 

It's a shame that Tandem don't allow the interest to be paid into the account, otherwise that 5.85% compounded annually for 5 years would average out at a return of around 6.58% PA over that time, which looks even more attractive

Think I'd rather take a slightly lower rate from a bank who offer a compounding option (most do).

Thanks for the heads up. I wasn't aware that Tandem don't pay out interest annually. As a result I have decided to go with United Trust who are offering 5.8%. This also allows me to keep my EA with Tandem who are paying 5% which I believe is currently the best in the market.  

Tandem pay out annually to your nominated account, they don't allow the interest to be compounded in your FS with them.