Birmingham Midshires reduce rates again

Bogof_Babe

Just had a letter saying that for the second time within four months, B'ham Mids is reducing its rates on its Postal Easy Access Accounts.

Its maximum Gross AER is now 3.31% on £50K+, which seems stingy. My husband has about £80K in this account, and does not really need instant access, although would probably want max of about 3 months notice. Can anyone suggest a better place to move his savings to, as we have had it with B'ham Mids now, although they used to be really competitive and were nearly always recommended in the Sunday papers financial supplements.

He is a taxpayer and has used his Cash ISA allowance for this year. Don't mind an Internet account or another Postal one, but would rather stick with a well known Building Society with good national coverage. No real reason, just a silly "false confidence" thing!

Any advice would be greatly appreciated.

derrick

Have just moved mine to Market Harbourough, managed to get their "onthedot" account @ 5%, but is has now dropped to 4.75% issue2

Bogof_Babe

That looks good Derrick, many thanks for the link. Husband will be 60 in another 9 months - hope they are still doing the Over 60's 5% account then! Will probably park the money in the 4.75% account for now and see what happens. Cheers.

isasmurf

It's probably part of a strategy by the Halifax to remove Birmingham Midshires from the High Street. They announced towards the end of last week that all BM branches will be closed by March 2006, although 19 of them will be rebranded to Halifax