To fix or to Instant Access

Tom_Hendo

Hi

In the last few months savings rates have just overtaken my mortgage rate, so i have stopped overpayments to start saving instead. I am now looking for what my best options are.

I have a pot already but looking for the best options to grow. The market is shifting so quickly I am trying to decide whether fixing or not is the best option, so thought id look for like minded opinions. 

I am currently with a instant access 1.5%, but know we have new best in market options. But before moving, I was looking at fixes I am tempted by Atoms 2% fix for 6 months, assuming there will be at least one base rate change between now and Feb 2023. Thoughts?

Bigwheels1111

The Boe will sit 3 more times by December.
So could be 2.5% by then.

Im holding off fixing until December or January.
Stashed cash in Al Rayan at 1.9%. Zopa 31 day notice at 1.95% and Shawbrook at 1.75%.

Tom_Hendo

Good point, but how quick will the banks move. Zopa 31 day notice is a better shout shough, hadn't noticed that one

ZeroSum

Zopa's 95 day notice at 2.05% is a much better option than Atoms 6 month. Just chuck the money in & give notice straight off & can review situation in 3 months 

Problem with waiting, is that you're also losing interest whilst you're holding out for a higher rate, so it's a bit of a 6 & 2 3's situation.

garyelder

I’ve just done 15k in shawbrook monthly interest at 3.22% 2 year fix
ive got my Zopa account which is good
I’ve  got so many acc I need a book 
Every month I will do a fix 
i really can’t see there being to many more rate rises, especially with petrol coming down 

JGB1955

I've got mine in Oak North 90 day account at 2.21%