Skipton Fixed Rate ISA

stooklie

Given the talk around BoE rates coming down in the near future I am considering Skipton BS 18month fixed  ISA for both new money and transfer from existing Santander ISA which is due to mature. Any thoughts from the more financially savvy than me. Any advice would be appreciated. Thanks 

subjecttocontract

Just had a look at it and at 4.75% it's the best available, seems like a good punt. I normally stick with 1 year ISA fixes, but I'm thinking I'd like to go with this myself. I've got until May 1st before mine matures so it may not be around that long.

Ms_Chocaholic

Does anyone know can I open it now and transfer in this year's ISA allowance and then add more to it come the next finacial year.

Descrabled

I believe you can add this year's ISA provided you haven't funded any other cash ISA this financial year. You have until 12 April to fund it for 24/25 year.

I'm probably going to use Skipton 30 month fixed rate as I have lots of ISAs maturing in the next 12 months.

ColdIron

Ms_Chocaholic said:

Does anyone know can I open it now and transfer in this year's ISA allowance and then add more to it come the next finacial year.

The Skipton website is a great resource for Skipton products

• Any payments or ISA transfer requests into this account need to be received on or before 12/04/2024. After this, the account will be closed to payments in. If you’re paying in from another ISA by ISA transfer, the money in the existing ISA must be available for transfer before this date.

There are other features you should read about such as withdrawal penalties and

• The minimum opening and operating balance for this account is £5,000.

https://www.skipton.co.uk/savings/isas/18-month-fixed-rate-cash-isa

stooklie

Thanks to all for your comments. Your opinion is much appreciated.

Cloth_of_Gold

Why does the Skipton 30 month FR ISA pay a higher rate (4.5%) than the 2 year one (4.0%)? Normally the longer the term the lower the rate of interest. Am I missing something? The only difference I can see is that the minimum investment for the 30 month one is £5K whereas for the 2 year one it is £500.

gravel_2

Perhaps you could ask Skipton if it's bothering you?