Aldermore Bank

katies_mum

Just wondering if anyone banks /saves with Aldermore and if so,  have you found them to be ok?  we have ISA`s with Paragon and Shawbrook and are thinking about an ISA transfer as neither have a rate close to 1.86% for a 2 year fix.  Many thanks

refluxer

I can't comment on Aldermore but are you sure you want to fix at that rate for another 2 years, considering the way rates have been rising over the last few months ?

I've been keeping an eye on the leading rates and the best 2 year Fixed Rate ISAs were around 1.3% in mid-February and increased to around 1.60% in mid-March. There's another expected BoE base rate increase expected in a couple of weeks which could see rates continue to rise, so I wouldn't be surprised if it broke through 2% in the next month or so, with a 1 year fixed approaching 1.8% hopefully not too long after !

It's all a bit of a gamble of course and you've got to jump in at some point, but it's at least something to think about as rates only seem to be rising at the moment and longer fixes in a rising market might not be the best move.

Albermarle

katies_mum said:

Just wondering if anyone banks /saves with Aldermore and if so,  have you found them to be ok?  we have ISA`s with Paragon and Shawbrook and are thinking about an ISA transfer as neither have a rate close to 1.86% for a 2 year fix.  Many thanks

Yes I have savings with Aldermore and no problems . Simple sign up and procedures .

ColdIron

I've been using them since 2012, if you are happy with Paragon you'll be fine with Aldermore

katies_mum

Thank you all for replying, much appreciated.

refluxer, I hadn`t realised there was another B of E rate increase due again so soon, think an instant access might be a good idea and then seen what happens, we are in no hurry to fix.  I just saw that ISA yesterday and though it seemed a good idea.  We have instant access ISA with Paragon and our maturing ISA`s with the Shawbrook will be moved to their 0.92%.  Appreciate your advice.

Albermarle

Are you aware that a basic rate taxpayer can earn up to £1000 in interest tax free ( a non taxpayer can earn more and a higher rate taxpayer less).
If you are likely to earn less than this per tax year , even if rates go over 2% , then you maybe better off with a non ISA savings account , which normally pay more interest .

katies_mum

Thank you, appreciate your advice but need to keep the money in ISA`s because of this.