LloydsTSB Fixed rate Isa 6.5%

MiserlyMartin

I'm confused now. I think I'll sleep on it!

MiserlyMartin

temba wrote: »

All things considered, am I right in thinking that this Lloyds TSB ISA isn't going to be the right one for me?

Not if you need the money in December for throwing at your mortgage, no. The fixed 12 month term will run until April 2009. The 90 day penalty will make the 6.5% rate paltry. You may as well go for a good unfixed ISA such as Icesave.

Thats my reasoning anyway. I'm off to bed now really!

snarffie

dreamypuma wrote: »

I'm getting quite sick of Lloyds. I applied for this account mid March, wanting to transfer £14.5k from Kent Reliance. I received a letter two weeks later advising me that they have now applied for the money from Kent. I haven't received any further correspondence from either party since.

My experience of Kent suggest that it isn't them that are delaying things. I suspect seen as it took two weeks for Lloyds to apply for the cash, it may be them.

Is there anyone else enduring a slow transfer between these two? Is there anything I can do to speed things up?

It can take up to 30 days for the transfer to take place. Lloyds quoted 35 days to allow for admin on their side. It actually took 37 days for the last of my two transfers to go through.

The slow transfer is more than likely due to the time of the year and might be due to either or both banks.

All you can do is wait for the 35 days imho. It worked for me

Joe65_2

temba wrote: »

Hello, I'm a bit late on the bandwagon... I tried to open this account today, but got to the bank .................

..........

..............., am I right in thinking that this Lloyds TSB ISA isn't going to be the right one for me?

Any suggestions on what I should go for?

Thanks for all your wisdom! Temba.

Quite true.
So, while 21K is quite a bit to have in 1 basket, for convenience, Abbey will let you transfer it to their new Direct ISA (Issue2), paying 6.25 %. (Variable) for 1 year - after which it'll drop by ~1% (on that balance).
You can do that without putting any New Money in.

As for the New Money - Barclays 'Tax-Haven' ISA is paying 6.5% variable - incl 1% bomus for a Year, & with Instant Access.

..but then again, for convenience, the difference between Abbey & Barclays rates (0.25%) equates to just £9 over the year on this year's subscription (3,600) so perhaps as well sticking it all in Abbey's Issue2

temba

Maybe it was just as well that Lloyds closed at 4.30 then! I'm going to rethink tomorrow when I'm not so tired! I think that keeping it in the Abbey may be the best option afterall. Thanks.
T

Joe65_2

temba wrote: »

Maybe it was just as well that Lloyds closed at 4.30 then! I'm going to rethink tomorrow when I'm not so tired! I think that keeping it in the Abbey may be the best option afterall. Thanks.
T

That's what my Mum's doing - an' I would have too if I wasn't ready to tie it up for a year in Lloyds.

MrSafeGaz

nordberg wrote: »

That's not what I, and many others on this thread, have been told and it goes against ISAs in general. Are you sure about this? I was told in no uncertain terms that the interest is back-dated.

I was told the following.

Interest will be paid on my ISA by my existing provider up until the transfer happens. Once the transfer happens I will get the 6.5% rate from Lloyds but not before. If the transfer from Barclays takes longer than 30 days then Lloyds will then backdate the 6.5% back to the 30 day mark.

dreams_of_paradise

Advice please.

I filled in the ISA transfer form on 3rd April. I am now wanting to put this year's allowance in. I can see the £0 balance online with Lloyds and I have yet to hear from Halifax that they have recieved my request to transfer.

Do I put the £3600 in the Halifax, Lloyds TSB or wait until the transfer is complete? Judging by some posts this could take a while.

Richchad

dreams_of_paradise wrote: »

Advice please.

I filled in the ISA transfer form on 3rd April. I am now wanting to put this year's allowance in. I can see the £0 balance online with Lloyds and I have yet to hear from Halifax that they have recieved my request to transfer.

Do I put the £3600 in the Halifax, Lloyds TSB or wait until the transfer is complete? Judging by some posts this could take a while.

Put it in the LloydsTSB if that is where you want it to finally be, I put mine in a couple of days ago while transfers are going through.

whu

I filled in the transfer form to lloyds in March and the new ISA accn was opened with £0.I am still waiting for the transfer to go through but was told by LLoyds that I could put this years allowance into the ISA accn whilst waiting for the transfer to go through (which they said could take upto 30 days).I have put this years allowance in but you might want to double check with Lloyds.