Fixed Rate Accounts

subjecttocontract

I was surprised to see that Aldermore fixed rate accounts are being offered at a higher interest rate through Raisin than they are directly from Aldermore themselves. 

Mark_d

It's much more common than you think - that they best deals are not available when going directly.  It happens everywhere - from mortgages to mobile phone contracts

subjecttocontract

I was surprised because there have been lots of posts on this forum indicating it was best to apply for accounts direct with the banks making the offer rather than going thru Raisin. 

macazon

The only issue with Raisin is that your money can be left in 'no mans land' for a few days while the money transfers into or out of the account.
Quite often I have found that Raisin has some of the best deals and sometimes better than going direct. Some advantages of Raisin are that once you have setup a Raisin account it is very easy to apply for a new account, you can always fund it in multiple transfers and I have one portal to mange multiple accounts.
I have just opened a Raisin Paragon easy access account that I have moved my Santander saver account into. 

masonic

subjecttocontract said:

I was surprised to see that Aldermore fixed rate accounts are being offered at a higher interest rate through Raisin than they are directly from Aldermore themselves. 

What tends to happen is the rate gets pulled first direct and it takes longer to remove the product from Raisin and the like. In a falling market you can get some extra time to secure the better rates.

The very best rates may be offered by providers that do not have a relationship with Raisin.

subjecttocontract

masonic said:

subjecttocontract said:

I was surprised to see that Aldermore fixed rate accounts are being offered at a higher interest rate through Raisin than they are directly from Aldermore themselves. 

What tends to happen is the rate gets pulled first direct and it takes longer to remove the product from Raisin and the like. In a falling market you can get some extra time to secure the better rates.

The very best rates may be offered by providers that do not have a relationship with Raisin.

Usually I open individual fixed rate accounts with a £10K deposit. On a 1 year fix the difference between top paying accounts and something from Raisin is often only around £10 pa. As it's so easy to open accounts via Raisin it's worth all of £10 to save the hassle of applying direct.

masonic

subjecttocontract said:

masonic said:

subjecttocontract said:

I was surprised to see that Aldermore fixed rate accounts are being offered at a higher interest rate through Raisin than they are directly from Aldermore themselves. 

What tends to happen is the rate gets pulled first direct and it takes longer to remove the product from Raisin and the like. In a falling market you can get some extra time to secure the better rates.

The very best rates may be offered by providers that do not have a relationship with Raisin.

Usually I open individual fixed rate accounts with a £10K deposit. On a 1 year fix the difference between top paying accounts and something from Raisin is often only around £10 pa. As it's so easy to open accounts via Raisin it's worth all of £10 to save the hassle of applying direct.

Is that £10 based on interest rate difference alone or that and interest void periods? I'd love to have access to a portal where I could get an overall return within 0.1% of the best possible option consistently, but I haven't found that at Raisin or elsewhere.

I'm currently running down a ladder of fixes set up when longer term rates were north of 5.5%, so won't be opening anything new in this part of the cycle.

subjecttocontract

Interest rate difference only.
Sometimes Raisin might be a little more or less over 1 year but for me it's still worth a small loss for the convenience.

As for voids, I've never experienced much of a void with Raisin at either end of the process, perhaps a couple of days max. Example : £10K @ say 5% = £1.40 a day......and I can't get excited about that.

The best 1 yr fix currently on Moneyfacts is 5.21%
The best 1 yr fix via Raisin is 5.20%.....the next is 5.12%
So the loss on £10K would be £1 or £9 .