Deposit/savings

[house123]

This is a question for the STR’s or anyone saving a deposit.

How have you invested your money, to give you a good return which allows you to jump if the right property comes along? Is a 3% instant access savings account the only option?

[VeryMeanReversion]

This is a question for the STR’s or anyone saving a deposit.

How have you invested your money, to give you a good return which allows you to jump if the right property comes along? Is a 3% instant access savings account the only option?

That's what I am doing. Instant access or 3 months fixed.

VMR.

[scrappycocco]

Where do you get 3% and is it safe?

[mikew]

Same... combination of 3.15% and 3.25% accounts iirc

[VeryMeanReversion]

Where do you get 3% and is it safe?

ING and A&L. (I'm with A&L)

I take "Safe" to mean government backed.

VMR.

[Democorruptcy]

Tesco is 3% variable instant access inc 1.75% bonus for 12 months interest is annual

Sainsburys 2.8% guaranteed to be at least 2% above base rate for a year but only up to 5 withdrawals interest is monthly or annual (another account is 3% variable)

Supermarkets have money coming in every day and no dodgy mortgage debt?

[VeryMeanReversion]

Supermarkets have money coming in every day and no dodgy mortgage debt?

Although I think their accounts are actually rebadged from high street banks, not backed by the supermarket themselves.

VMR.

[Guest_flaps_*]

Just been on the phone with the Natwest, they were trying to get me to tie into their new 2 year fixed rate bond. Anyway, the lady asked what my longer term plans were for my money and would I like to look at something longer term.

No, I said, I want to keep it pretty free as its all for a house and I dont want it tied up.

She then starts creaming herself asking when I'm intending on buying.

I dont know, but not until the election is out the way at least as I expect significant falls still to come, maybe 12 to 18 months and then I'll see.

Oh, she says, but I heard only this morning on the BBC that house prices are going back up again. Could I interest you in our 90%, 5 year fix, no fee, 5.95% mortgage?

No, I replied, I'm not interested in what the BBC say, the fact is housing is being underpinned by low volume and cash buyers panicing about inflation due to the government pumping billions of pounds of printed money into the economy. There are still significant falls to come and I can wait longer than the government can prop it up for.

There was a few seconds of silence as this flew over her head before she asked if I would still like to make an appointment with her!

I politely declined

[grey shark]

Birmingham & Midshires { part of HBOS } 3.15% instant access telephone account , is another over 3%

[RandomBear]

Oh, she says, but I heard only this morning on the BBC that house prices are going back up again. Could I interest you in our 90%, 5 year fix, no fee, 5.95% mortgage?

No, I replied, I'm not interested in what the BBC say, the fact is housing is being underpinned by low volume and cash buyers panicing about inflation due to the government pumping billions of pounds of printed money into the economy. There are still significant falls to come and I can wait longer than the government can prop it up for.

There was a few seconds of silence as this flew over her head before she asked if I would still like to make an appointment with her!

I politely declined

Would have been a lot more impressive if you'd actually said "thanks I don't need a mortgage actually", but I'm guessing it's not enough for that, in which case she probably isn't that fussed what you think.

[Guest_flaps_*]

Would have been a lot more impressive if you'd actually said "thanks I don't need a mortgage actually", but I'm guessing it's not enough for that, in which case she probably isn't that fussed what you think.

50K isnt enough for that.....yet

[Democorruptcy]

Although I think their accounts are actually rebadged from high street banks, not backed by the supermarket themselves.

VMR.

Tesco and Sainsburys now have their own FSCS licences. Tesco bought themselves out of RBS and Sainsburys used to be badged with HBoS.

[keef]

How have you invested your money, to give you a good return which allows you to jump if the right property comes along? Is a 3% instant access savings account the only option?

No intention of 'jumping' back into the market so my £300k is in this:

http://www.northernrock.co.uk/savings/fixe...bond_issue_373/

4.15%, safe as houses ... oh, hang on

[Democorruptcy]

No intention of 'jumping' back into the market so my £300k is in this:

http://www.northernrock.co.uk/savings/fixe...bond_issue_373/

4.15%, safe as houses ... oh, hang on

I was tempted by that. I had a lump in their Fixed Rate Access Bond that expired in April. It paid 5.75% and was instant access, those were the days This has a 90 day penalty so 25% of the 4.15% for a year if you have to take it out reducing it to 3.11%

Of course the other niggling reason not to do NR is that they are doing mortgages again now - the supermarkets aren't. If everyone removed their money from banks to supermarkets what would that do for mortgage lending and house prices?

[51%deposit]

i get sod all from hsbc

not that i care although i am thinking about it.

i e-mailsed my account manager saying i wanted a mortgage and she has not replied. as ever. no one ever talks to me. i could walk into party at alcoholics anonymous with a 50 pack of special brew and still no one would want to know me.

its rubbish being me.

i think house prices went up directly because of me, and interests rates dropped directly because of me. whatever i do it will be a screw up so no point in moving my money, the moment i move it hsbc will improve their best rates ever, the moment i buy a house interest rates will shoot up through the roof. Oh yeah, the pound tumbled against the dollar and euro because of me.... gordon brown is still in power to spite me.

[Executive Sadman]

RBS do that 5.3% royal bond the Times keep harping on about, access any time.

[Democorruptcy]

i get sod all from hsbc

not that i care although i am thinking about it.

i e-mailsed my account manager saying i wanted a mortgage and she has not replied. as ever. no one ever talks to me. i could walk into party at alcoholics anonymous with a 50 pack of special brew and still no one would want to know me.

its rubbish being me.

i think house prices went up directly because of me, and interests rates dropped directly because of me. whatever i do it will be a screw up so no point in moving my money, the moment i move it hsbc will improve their best rates ever, the moment i buy a house interest rates will shoot up through the roof. Oh yeah, the pound tumbled against the dollar and euro because of me.... gordon brown is still in power to spite me.

Are you sure you have a 51% deposit? I would have thought you would only have 49%, as nobody would want you to have a controlling interest given your track record.

[snowflux]

Same... combination of 3.15% and 3.25% accounts iirc

Me too, but my eyes were recently opened to BM's offer of a 5 year bond paying 5.15% and with withdrawal permitted at any time, subject to a 90 day interest penalty. I'm wondering about switching to this. If we're reckoning on keeping the money there for at least 9 months or so, then the penalty would become acceptable.

[chrislr]

I've just opened an account with Citibank, rate is about the best you can get with easy access.

http://www.citibank.co.uk/personal/banking...aver/fsaver.htm

[InsideEdge]

RBS do that 5.3% royal bond the Times keep harping on about, access any time.

Its a bond though not a savings product. Still a pretty safe investment.

[Bear Monger]

Me too, but my eyes were recently opened to BM's offer of a 5 year bond paying 5.15% and with withdrawal permitted at any time, subject to a 90 day interest penalty. I'm wondering about switching to this. If we're reckoning on keeping the money there for at least 9 months or so, then the penalty would become acceptable.

I just opened a citibank account too but that Midshire's one has got my interest. The only annoying thing is that it is post only. Does anyone have any experience with Birmingham Midshires? Are they any good?

[Ah-so]

I just opened a citibank account too but that Midshire's one has got my interest. The only annoying thing is that it is post only. Does anyone have any experience with Birmingham Midshires? Are they any good?

I believe that they have a poor credit rating, so careful how much you invest.

[geoffk]

newcastle bs@5% for five years but no loss of interest for withdrawals and skipton bs at 4.5%....

[JJJ]

I took a plunge with some cash six months ago on this little beauty, fully intending to leave it there for a few years:

Winterthur Elite Balanced Managed

Some days I wonder if I should get it all back, some days I think "sod it, let it ride!"

[juvenal]

I just opened a citibank account too but that Midshire's one has got my interest. The only annoying thing is that it is post only. Does anyone have any experience with Birmingham Midshires? Are they any good?

I've got serious dough with BM, and have had various products over the years, without any probs. However, observe the £50K guarantee limit, whoever you go with.