Toisa Discussion & Questions Board (Merged)

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
59 replies 14.7K views
MSE_MartinMSE_Martin MoneySaving Expert
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edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
If you have any questions or want to discuss the best buy toisas - just reply to this message.

To read the original Deal this relates to click here

Martin
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
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Replies

  • SystemSystem Forumite
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    I have been offered a TOISA by Skipton Building Society (who I had my TESSA with) running at 4.25% plus 0.25% after six months.

    Can't fins them on either money supermarket or the Money facts link.

    Does this mean the rates are bogus or are they just not included.

    Many thanks

    Hugh
  • lisyloolisyloo Forumite
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    I do not think you can conclude it's bogus just because it's not there.

    Two possibilities I can think of are:

    1) It's only available to Skipton TESSA holders and therefore not included.
    2) It's very new and has not got on there yet.
  • Don't think they are bogus

    http://www.skipton.co.uk/investments/products/base_rate_tracker_extra/index.asp

    But also not sure it is a Toisa
    I work for a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    ( I have ammeded this signature slightly, as I do not actively provide mortgage advice. However, I support and adhere to the moneysavingexpert mortgage broker code of conduct)
  • Ahh, this explains it better -

    http://www.skipton.co.uk/investments/tessa_maturity.asp

    So the account mentioned above, I think, is one of their suggestions for where you can invest the interest you have earnt on your tessa, where as the toisa (for the capital) is at a rate of 4.10% (with a 0.25% bonus for 6 months)

    MM
    I work for a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    ( I have ammeded this signature slightly, as I do not actively provide mortgage advice. However, I support and adhere to the moneysavingexpert mortgage broker code of conduct)
  • isasmurfisasmurf Forumite
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    I have been offered a TOISA by Skipton Building Society (who I had my TESSA with) running at 4.25% plus 0.25% after six months.

    Can't fins them on either money supermarket or the Money facts link.
    Just a thought, but perhaps these rates are the new rates from Monday, when a lot of Savings rates are increased following last months BoE increase.
  • SystemSystem Forumite
    177.9K Posts
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    Thanks for all the responses.

    Perhaps "bogus" was the wrong word, but often there are so many previsos with these deals that the rates mentioned are virtually unobtainable.

    I am meeting representatives of Skipton tomorrow so I will know more then.
  • SystemSystem Forumite
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    Yorkshire Building Society is offering me a one year fixed rate of 4.75% if I keep my maturing tessa with them. Given that interest rates are likely to rise should I move to say IF or is it a case of a bird in the hand is worth two in the bush. ???
  • lisyloolisyloo Forumite
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    Interest rates are expected to go up another couple of times this year (twice maybe) so this doesn't sound to me like it's a good deal.

    IF are withdrawing their ISA very soon so if you want it be quick.
    There service is also suffering because of the huge demand.
    Don't know about M&S.

    Note when I say expected - I mean by proper economists like Roger Bootle of Capital Economics whose predicting rates to rise from the current 4.0% to 4.5%.
    Bear in mind that these are forecasts and therefore could be wrong, however it does look like further rises are highly likely.
  • BlegBleg Forumite
    329 Posts
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    so where would be the best place to transfer my Abbey National Toisa to . I don't believe the rates being offered to me at the moment by the Abbey are very competitive.
    -Keep your eyes to the sunshine and you would not see the shadows-:beer:
    -Remember your forgetfulness is not my emergency:p
  • BlegBleg Forumite
    329 Posts
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    Well to answer my own question I have just realised it is IF :D[ ;D]
    -Keep your eyes to the sunshine and you would not see the shadows-:beer:
    -Remember your forgetfulness is not my emergency:p
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