Banks for 12 months bond

Middle_of_the_Road

mills112 said:

Middle_of_the_Road said:

mills112 said:

subjecttocontract said:

mills112 said:

subjecttocontract said:

LHV. Established 2009. Operates in UK & Estonia. 

not heard anyone say anything about LHV yet, so will wait to see if anyone has an account with them.

I take all my fixed rate bonds through either the Raisin or HL platforms. LHV are currently offering a 1 year fixed bond but there are other better rates on offer. I'd suggest that whilst they are not at or near the top there won't be many takers and consequently no posts. 

i haven't used raisin and not keen on it but i have used HL and it used to offer slightly better interest than going direct to the banks or at least the same.  all the interest rates on 1 year bond now are slightly lower for most of the banks so i think HL is getting a bigger cut from the interest dished out.

i am therefore starting to look at direct savings with the banks themselves but i need to check that they are good to give your money back at maturity!

You're probably better sticking with HL as the unpredictable service of fintech banks or the stone age systems running at traditional institutions don't seem to meet your requirements.

HL active savings is very good.  I have had savings through them with a few banks and the money is always paid on maturity without any issues.  HL is a big client so these banks will pay attention to them else they lose a big client.  Little person down the street opening an account with them isn't going to be so important, hence my hesitation with opening a savings account with banks i have not heard of before, even if i have heard of them on HL active savings.

The highest 12 months savings payer on the MSE site is investec, LHV, vanquis and DF capital, so i am interested to hear from people who have had savings with these banks.

Would the higher interest offered by these accounts be preferable to your perceived security offered by HL, based on opinions posted on a public forum? Only you can be the judge.
I don't remember any negative posts regarding DF or Vanquis, but seen nothing (positive or negative) at all relating to LHV.

mills112

Middle_of_the_Road said:

mills112 said:

Middle_of_the_Road said:

mills112 said:

subjecttocontract said:

mills112 said:

subjecttocontract said:

LHV. Established 2009. Operates in UK & Estonia. 

not heard anyone say anything about LHV yet, so will wait to see if anyone has an account with them.

I take all my fixed rate bonds through either the Raisin or HL platforms. LHV are currently offering a 1 year fixed bond but there are other better rates on offer. I'd suggest that whilst they are not at or near the top there won't be many takers and consequently no posts. 

i haven't used raisin and not keen on it but i have used HL and it used to offer slightly better interest than going direct to the banks or at least the same.  all the interest rates on 1 year bond now are slightly lower for most of the banks so i think HL is getting a bigger cut from the interest dished out.

i am therefore starting to look at direct savings with the banks themselves but i need to check that they are good to give your money back at maturity!

You're probably better sticking with HL as the unpredictable service of fintech banks or the stone age systems running at traditional institutions don't seem to meet your requirements.

HL active savings is very good.  I have had savings through them with a few banks and the money is always paid on maturity without any issues.  HL is a big client so these banks will pay attention to them else they lose a big client.  Little person down the street opening an account with them isn't going to be so important, hence my hesitation with opening a savings account with banks i have not heard of before, even if i have heard of them on HL active savings.

The highest 12 months savings payer on the MSE site is investec, LHV, vanquis and DF capital, so i am interested to hear from people who have had savings with these banks.

Would the higher interest offered by these accounts be preferable to your perceived security offered by HL, based on opinions posted on a public forum? Only you can be the judge.
I don't remember any negative posts regarding DF or Vanquis, but seen nothing (positive or negative) at all relating to LHV.

i am fine to rely on people saying they have had money with these banks and no problems as the higher interest is worth having if they are no different to other banks.

comments seem to be positive on the banks listed.  no one has experience of LHV but someone said that is because they are new to the domestic market as they only started to accept domestic customers within the last 12 months, so maybe that one should be left for now until they are more established.

with new openings, come new tech and customer service issues due to teething problems, so i have DF capital on top of my list from those listed so will put some money with them.  i am going to abandon HL active savings as they are offering less than going direct to the banks.

ColdIron

I have a 4.73% fix with LHV at HL Active Savings, matures later this month. It's worked just like all their other offerings

mills112

ColdIron said:

I have a 4.73% fix with LHV at HL Active Savings, matures later this month. It's worked just like all their other offerings

yes, I have LHV with HL active savings as well, earning 4.65% pa, maturing next month, but their new rates now are only 4.15% pa compared to 4.46% pa for a 12 months bond if you go directly to their bank rather than via HL active savings.

so it may be worth the risk of saving directly with them rather than use HL active savings.

ColdIron

One of the advantages of HL AS is that I would happily use one of the lesser known banks, the minnows, with them when I wouldn't go direct because I know that HL are in charge and I trust their systems. Basically everything works. I have had some very poor experiences trying to go direct. Badly constructed, confusing websites, broken links, and the less said about communications the better. YMMV

Sometimes you get better rates with them than going direct, I've had great success several times in the past with BLME. 

Currently there is nothing attractive at HL for a 1 year fix. If I had to choose today I'd look at Investec direct at 4.50% but I expect that to be well gone by the time my LHV becomes available

mills112

ColdIron said:

One of the advantages of HL AS is that I would happily use one of the lesser known banks with them when I wouldn't go direct because I know that HL are in charge and I trust their systems. Basically everything works. I have had some very poor experiences trying to go direct. Poor confusing websites, broken links, and the less said about communicating the better. YMMV

Sometimes you get better rates with them than going direct, I've had great success several times in the past with BLME. 

Currently there is nothing attractive at HL for a 1 year fix. If I had to choose today I'd look at Investec direct at 4.50% but I expect that to be well gone by the time my LHV becomes available

i used to apply direct with the banks until i found that HL active savings were offering better rates but with less known banks, and like you, i took the risk going with these direct with HL as they will be considered a very big client so the banks will no doubt have a dedicated manager to manage that account, unlike Joe Blogs down the street savings account!

i have had direct savings with the following banks

close brothers
BLME
charter bank
Habib bank
Al Ryan
Hampshire Trust
Shawbrook
smart save, who has now been moved to its other brand, chetwood bank
aldermore
gatehouse
oaknorth

and they have all been fine actually.  so i have been round the block when it comes to unknown banks!  but there always seem to be more names out there when i check the MSE savings rates.  so always interested to chase the highest savings rate but i am wary of new banks having had some bad experience with banks in the past.

i have a 12 months bond with HL active savings with investec and i opened one directly with them recently.  seems to be very good, once you have got over the trauma of giving them a photo of your passport or driving licence and doing a selfie.  i have just opened DF capital and applied for a 2 year bond as people have said they seem to be good and it looks pretty slick.  not put any money in yet but will do that tomorrow.

fuzzzzy

Kent Reliance are also an option with a 4.51% 1 year fix?

mills112

fuzzzzy said:

Kent Reliance are also an option with a 4.51% 1 year fix?

i thought i had a savings account with them directly but i can't find any correspondence so i have had a savings account with them via HL savings.

good spot!  i will open one 

Malchester

Am I right in thinking that platforms like HL and Flagstone etc may pay monthly interest on fixed rate savings but this cannot be paid away? I have never seen this facility but may not be looking in the right place. Thanks 

ColdIron

mills112 said:

i took the risk going with these direct with HL as they will be considered a very big client so the banks will no doubt have a dedicated manager to manage that account, unlike Joe Blogs down the street savings account!

I think you will find that the banks are the clients in this relationship

If you receive the services and pay the bill, you are the client