Am I seeing things?

steveksullivan

I was just about to post a question on why the ToTP ISAs were just crawling up by 0.01% at a a time to beat each other, when suddenly Newcastle jump in at roughly 0.4% above on a 1 year  and 0.7% on a 2 year .....!!!

Should I get in quick or is this just the start........

Edit: That 2 year rate isn't far off  the best TAXABLE 2 year fix at the moment .....

savit4l8er

Just saw your other post re this.  I think it's going to be the start but the penalty is not bad for a 2 year at 120, far better than 180 days.  Is there scope for much higher that would even make it worth closing at some point?

steveksullivan

savit4l8er said:

Just saw your other post re this.  I think it's going to be the start but the penalty is not bad for a 2 year at 120, far better than 180 days.  Is there scope for much higher that would even make it worth closing at some point?

The penalty is why I've been trying to stick with Virgin when they were tops.(even lower at 60 and 90 days ....) ... It's  a Virgin 2 year I'm looking to switch out of and pay the penalty ....as well as putting this years new money into a 1 year somewhere....

refluxer

This has been happening all year with both ISA and non-ISA fixed rate accounts - I guess it's simply a way to get to the top of the 'best buy' tables by giving the least away possible. Every now and again, a provider will stick it's neck out by issuing a much-higher rate, which is then beaten not long after by 0.01 or maybe 0.05% and so on and so on

savit4l8er

If anyone goes on to open one of these accounts with Newcastle,  could you post the timescale they allow to credit funds,  a transfer in for example.
I cannot see the information on their site, faq's, t&c's etc.

Shedman

savit4l8er said:

If anyone goes on to open one of these accounts with Newcastle,  could you post the timescale they allow to credit funds,  a transfer in for example.
I cannot see the information on their site, faq's, t&c's etc.

14 days (seemingly also for transfers in although it not totally clear if thats just a time limit for them to receive the transfer request from the Welcome email)

Fortunately my transfer in can be done electronically so should be fine.  Got an email within a couple of hours of opening account to say they've already applied for it from the other provider so impressed with service so far 

savit4l8er

Shedman said:

savit4l8er said:

If anyone goes on to open one of these accounts with Newcastle,  could you post the timescale they allow to credit funds,  a transfer in for example.
I cannot see the information on their site, faq's, t&c's etc.

14 days (seemingly also for transfers in although it not totally clear if thats just a time limit for them to receive the transfer request from the Welcome email)

They vaguely told me the same on the phone but I wondered if there was anything more solid during the application process. It's ample time really but longer buys a bit if thinking time.

Thank you for your reply, very much appreciated.