Interest Rate Cut

deemy2004

realaledrinker wrote:

smile ISA & co-op ISA reduced by 0.35%

co-op mortgage rate reduced by 0.20%

Brought to you by the "ethical bank".

There is nothing ethical about the co-op , probably the worse bank to do business with.

[Deleted User]

Regarding the inevitable cuts to savings rates -


Have any of the institutions actually made any firm announcements yet about revised rates and effective dates, other than ING?

I am particularly interested in

Cahoot
Nationwide
Halifax
Abbey postal cash ISA.

Kazza242

Derbyshire BS have cut the rate on their regular saver from 5.85% to 5.40%. A cut of 0.45% :eek:

Here is the a link to the thread I created earlier:

http://forums.moneysavingexpert.com/showthread.html?t=80001

Fatboy_NSS

Abbey's announcement is at http://www.aboutabbey.com/home/media_centre/media_centre-press_releases.htm?id=11335.

All savings and mortgages drop by 0.25%, from today for mortgages and from September for savings. The only one they haven't announced yet is Postal Isa Issue 1. We've been told internally that it's going down by more than 0.25%, but haven't been told exactly how much yet.

Walshy

Keep an eye on this page for the latest rate cuts:

www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=402770&in_page_id=7

[Deleted User]

Fatboy_NSS wrote:

The only one they haven't announced yet is Postal Isa Issue 1. We've been told internally that it's going down by more than 0.25%, but haven't been told exactly how much yet.

According to another thread, rumoured to be going down from 5.35% to 4.90%.

Fatboy_NSS

Deleted_User wrote:

According to another thread, rumoured to be going down from 5.35% to 4.90%.

Yep, down to 4.9% from 1 Sep. Still better than the new Postal ISA, which goes down to 4.65%.

hansi

Has IF changed the rate on its Mini Cash ISA?

john269

I hope A&L doesn't drop their rates. I thought A&L rates were some of the best around for a certain account that I wanted with them so I then went with them. Just before my account got approved their rates had dropped, which meant that they are now not as good as some of the other saving accounts rates on the web and unfortunately I had missed out on the higher rates as my rate also dropped. I may now start looking for a better savings account yet again.

lipidicman wrote:

I just hope the list doesnt include A&L and ING as they have only just made cuts!

santana-mx3

Kazza242 wrote:

Doesn't look like ING Direct will be cutting their rate again this time: .....I think ING must have decided against cutting the rate again, as they would lose a lot of customers. It remains to be seen whether the other savings account providers will cut their rates again.

So ING's strategy seems to be to cut the rate in advance of the BOE rate cut and cause a bit of a stir, then make an issue of the fact (for those with short memories) that there has been a cut in the BOE base rate but good old ING are going to keep their rate as is. Bless them. :rolleyes:

Oh well, they've still been pretty good rate wise over the last year or so. I really can't see the Cahoot rate staying. It's one thing to beat the competition but why beat them by so much?