Recommend an ISA

Niggy_G

I have ~£7,000 in a Nationwide ISA @5.05%

I’d like to put this years £3,400 along with my Nationwide balance into a new ISA. Which is the best paying ISA that will also let you transfer a previous ISA balance? – I know Barclays is 6.5% but that’s doesn’t let you transfer pervious ISA’s.

Could you recommend a strategy?

bristolleedsfan

Niggy_G wrote: »

I have ~£7,000 in a Nationwide ISA @5.05%

I’d like to put this years £3,400 along with my Nationwide balance into a new ISA. Which is the best paying ISA that will also let you transfer a previous ISA balance? – I know Barclays is 6.5% but that’s doesn’t let you transfer pervious ISA’s.

Could you recommend a strategy?

As long as u dont need access, Nationwide one or two year fixed rate @6.15% would be best IM0.

Allowance is 3600 for tax year 2008/09.

U could if u wanted transfer previous years ISA (s) into Nationwide fixed rate ISA and put new 3600 allowance into either a fix or a variable rate ISA with any provider.

Skipton 6.26% Bradford and Bingley 6.25%, Nationwide 6.15%, Dunfermline 6.15% are all One Year fixed rate alternatives ( One or two year in case of Nationwide whom also allows transfers in).

If you choose Nationwide fixed rate ISA for all or some of your ISA funds it would be prudent to act quickly as nobody knows how long its 6.15% fixed rates will last for.

Interest rates are tipped to decrease in the coming months.

Lokolo

Do you mind fixed rate? By the way its £3600 not £3400.

Lloyds have a fixed 6.5% with balances over £9000 so......

Niggy_G

£3,600 - Of course, silly me.

Thank you both for your help.

If I can open the Lloyds account then that seem the best option to me. Would there be any advantages to staying with Nationwide (aside from convenience).

emma396

Niggy_G wrote: »

Would there be any advantages to staying with Nationwide (aside from convenience).

not that i can think of

bristolleedsfan

Niggy_G wrote: »

. Would there be any advantages to staying with Nationwide (aside from convenience).

Nope, I just wondered if u might want to keep some off your funds not tied up being as uve had it in an instant access account up until now.

Niggy_G

I don't want to have access to it. However when I originally opened the ISA I did. I've just been lazy for two years and not moved it.