fix or not

northernstar007

with interest rates looking like they could drop ive been looking about for a fix
currently with virgin until there rates drop in may at 4.51%, i see vanquis is offering a fix 4.42% cash isa
i was going to go with leeds building society at 4.40% but its variable again with rates could drop i think a fix is best bet for 12 months
should i fix in this 4.42%
also then there is morals, we all know vanquis lend to customers thats struggling for finance, should i feel guilty financing that

sheenas

The spring speech by RR basically had figured from the office of national statistics showing rates flat till 2030. So as long as inflation stays around 2% then rates are not likely to change, regardless of the noise we hear daily.

bristolleedsfan

sheenas said:

The spring speech by RR basically had figured from the office of national statistics showing rates flat till 2030. So as long as inflation stays around 2% then rates are not likely to change, regardless of the noise we hear daily.

Swap rates have fallen during last week or so, Fixed Mortgage rates starting to be reduced, usually that scenario causes fixed savings rates to tick downwards.

Albermarle

northernstar007 said:

with interest rates looking like they could drop ive been looking about for a fix
currently with virgin until there rates drop in may at 4.51%, i see vanquis is offering a fix 4.42% cash isa
i was going to go with leeds building society at 4.40% but its variable again with rates could drop i think a fix is best bet for 12 months
should i fix in this 4.42%
also then there is morals, we all know vanquis lend to customers thats struggling for finance, should i feel guilty financing that

Nobody can answer that as nobody can see into the future.
It might better to go for a longer fix, then again it might not.
You just have to decide for yourself.

eskbanker

northernstar007 said:

also then there is morals, we all know vanquis lend to customers thats struggling for finance, should i feel guilty financing that

Lending money to those who really need it doesn't seem particularly objectionable to me - obviously the rates they charge will reflect the higher risk of targeting that sector of the market, but if that causes you to have ethical doubts then I'm sure you could find reasons not to save with most financial institutions!

northernstar007

eskbanker said:

obviously the rates they charge will reflect the higher risk of targeting that sector of the market,

i take it my funds upto 85k are safe if there customers default
next best bet is newcastle building society 4.3% 1 year fix

eskbanker

northernstar007 said:

eskbanker said:

obviously the rates they charge will reflect the higher risk of targeting that sector of the market,

i take it my funds upto 85k are safe if there customers default

FSCS protection kicks in if/when the institution fails, rather than in the event of lower profits....