Newcastle Building soceity

natman

Hi Guys.
Just wondered if any of you have had any dealings with Newcastle Building Soceity?

I have opened a ISA+ Account with them recetly and transferring my current ING Direct ISA to them. Very early days, but wondered if any comments out there!!! Thanks
n:p

Milarky

I find they are overly bureaucratic compared to other building societies (with all their little special forms for things you might be able to sort out with a letter etc) but I suppose that doesn't preclude them from coming out with occasional good offer.

I'm planning to transfer just £100 to their ISA as it a happens later (from a specially newly 'opened' ISA which will just happen to contain exactly £100!) and take out the rest of my money with them - so there must be something about them that makes me feel blue...

Oblivion

natman wrote: »

Hi Guys.
Just wondered if any of you have had any dealings with Newcastle Building Soceity?

I have opened a ISA+ Account with them recetly and transferring my current ING Direct ISA to them. Very early days, but wondered if any comments out there!!! Thanks
n:p

I opened a Newcastle Net Saver a/c Issue 7 with them in March and the process was hassle-free. Perhaps it's because I've got half Geordie blood in my veins, but I feel they are a 'safe pair of hands' with my money, given their size and mutual status.

I will also be interested in any comments concerning their ISA+ account as my wife and I both have old Alliance & Leicester TOISAs (now designated Cash ISAs) which are paying a lousy rate and which I'm thinking of transferring to Newcastle. The only problem we might have is that we've already used up our £3,600 2008/09 ISA quotas, and so I need to open Newcastle accounts purely with transfers in. I hope they allow and can cope with that.

Dave.

natman

Hi Dave.

I am doing what your thinking of doing.
I have a existing ING Direct ISA and have inserted my 2008/2009 in that account, so i am just opening up with a full on transfer of previous 3 years held at ING Direct.
Early days as yet.......just got a welcome pack all seems ok up to now.

Oblivion

natman wrote: »

Hi Dave.

I am doing what your thinking of doing.
I have a existing ING Direct ISA and have inserted my 2008/2009 in that account, so i am just opening up with a full on transfer of previous 3 years held at ING Direct.
Early days as yet.......just got a welcome pack all seems ok up to now.

I've sent Newcastle an email today just asking them exactly what I need to do (that way I can blame them if it all goes pear shaped ), but I'm hopeful that it should be a smooth process. I'll report back if they raise any unforseen issues.

Dave.

natman

Hi Oblivion -

On there website - http://online.newcastle.co.uk/invest/Products/isaplus/docs/transferform.pdf

it highlights - You can transfer in from current tax year and previous tax years. so all looks swell. Good luck i will let you know how it goes.

Like i say - i have received welcome pack and i can log into my ISA online, But no money is there yet, so i am hopeful that this happes soon.

bristolleedsfan

Oblivion wrote: »

I opened a Newcastle Net Saver a/c Issue 7 with them in March and the process was hassle-free. Perhaps it's because I've got half Geordie blood in my veins, but I feel they are a 'safe pair of hands' with my money, given their size and mutual status.

quote]

Rate has tumbled as quick as Gordon Browns Poll ratings, shocking to see that the rate is now 5.58%.

http://online.newcastle.co.uk/invest/index.htm

So when Issue 8 is launched :rolleyes: people have been prewarned about Newcastle BS behaviour towards its savers.

Oblivion

[quote=bristolleedsfan;11225743
Rate has tumbled as quick as Gordon Browns Poll ratings, shocking to see that the rate is now 5.58%.

So when Issue 8 is launched :rolleyes: people have been prewarned about Newcastle BS behaviour towards its savers.[/quote]

Hardly 'shocking', and it is simply following the trend of many savings institutions' non-fixed-rate accounts, in the wake of bank rate reductions.

Dave.

thor

It is no surprise but Newcastle appear to be leading the field with this tactic. Has anyone else managed to have an account out that has got to issue 8?:eek:

Milarky

bristolleedsfan wrote: »

rate is now 5.58%.

http://online.newcastle.co.uk/invest/index.htm

So when Issue 8 is launched :rolleyes: people have been prewarned about Newcastle BS behaviour towards its savers.

If there is an Issue 8 then also expect them to make a stipulation that they won't open it with a transfer from your Issue 7. All institutions are entitled to place whatever terms and conditions they want on new accounts - but this is one of the sillier ones which has no practical effect - i.e. customers will simply open an account for £100 then withdraw their savings from the old account and have it transferred in to the new. (Or, will they bother with the second part?)

hansi

I've just had a look at their website and it says the account will "mature in 2011". What's that all about?. I thought it was just an ordinary online instant account albeit with a reasonable rate of interest.