Bank rate Coventry BS

MikeJXE

Coventry building society just emailed me 

They are reviewing their rates and will keep me posted 

Rudyson

Me too. As they immediately announced increases after the last two BoE meetings, this suggests that their rates won't be rising this time. I'll be delighted to be proved wrong

MikeJXE

Rudyson said:

Me too. As they immediately announced increases after the last two BoE meetings, this suggests that their rates won't be rising this time. I'll be delighted to be proved wrong

So would I 

Johnjdc

I think if they weren't going to do anything then they would just keep their mouths shut. I'm going to bet on a 0.2% increase for new instant access, and a 0.35% increase for existing customers on the accounts closed to new applicants. Ever the optimist

fourmarks

Rudyson said:

Me too. As they immediately announced increases after the last two BoE meetings, this suggests that their rates won't be rising this time. I'll be delighted to be proved wrong

I'm not sure they immediately announced increases last time around. I recall getting the same 'review' emails and then it was a week or two before they actually announced the rises, so don't give up all hope. 

MikeJXE

I have only had my account this year so not sure how they work but, My grandkids with Junior isa were pre warned their interest would go up last time the bank rate increased 

ForumUser7

fourmarks said:

Rudyson said:

Me too. As they immediately announced increases after the last two BoE meetings, this suggests that their rates won't be rising this time. I'll be delighted to be proved wrong

I'm not sure they immediately announced increases last time around. I recall getting the same 'review' emails and then it was a week or two before they actually announced the rises, so don't give up all hope. 

Coventry announced their new rates at like 4:40pm on the 15th of December - practically straight away!

Don’t know what went on with Nationwide last time though, no increases at all

SJMALBA

fourmarks said:

Rudyson said:

Me too. As they immediately announced increases after the last two BoE meetings, this suggests that their rates won't be rising this time. I'll be delighted to be proved wrong

I'm not sure they immediately announced increases last time around. I recall getting the same 'review' emails and then it was a week or two before they actually announced the rises, so don't give up all hope. 

As far as I recall, they have been very quick off the mark on the last two occasions, announcing the increases the same, or next day?
Of course, actual implementation seems to take around a month... but at least we knew.
I agree that their statement does not engender much hope for an increase, but, fingers crossed!

Nath4n

You'd expect them to at least slightly uplift the limited (6 withdrawal) access account now paying 3.25% (closed to new applicants). I imagine most people using this account are relatively fickle with seeking out the highest rates, and it's likely this rate will soon be surpassed by other providers in the coming days and you'd assume they'd want to avoid mass withdrawals... fingers crossed!

SJMALBA

Nath4n said:

You'd expect them to at least slightly uplift the limited (6 withdrawal) access account now paying 3.25% (closed to new applicants). I imagine most people using this account are relatively fickle with seeking out the highest rates, and it's likely this rate will soon be surpassed by other providers in the coming days and you'd assume they'd want to avoid mass withdrawals... fingers crossed!

Last time, with a 0.5% Base Rate rise, it went up 0.4%, so I hoped for similar this time, but not so hopeful now, having seen their statement...
As others, delighted to be wrong.

Fatherjacob

SJMALBA said:

Nath4n said:

You'd expect them to at least slightly uplift the limited (6 withdrawal) access account now paying 3.25% (closed to new applicants). I imagine most people using this account are relatively fickle with seeking out the highest rates, and it's likely this rate will soon be surpassed by other providers in the coming days and you'd assume they'd want to avoid mass withdrawals... fingers crossed!

Last time, with a 0.5% Base Rate rise, it went up 0.4%, so I hoped for similar this time, but not so hopeful now, having seen their statement...
As others, delighted to be wrong.

what part of thier statement puts you off , i opened an account with them on the 8th december , and only piled money into the account on the 7th jan once i found out there was a rate rise. 
fickle saver here , but will only move if the competion is close to 3.75%