DonJop12 Posted September 26, 2020 Share Posted September 26, 2020 I don't know. Personally i'm bored of moving my housing deposit around to try and gain an extra 0.x%. I cashed out my Nationwide ISA earlier in the year to buy income bonds when NW dropped their rates. Because of ISA repayment flexibility I could put it all back and get 0.8% but I haven't seen any annoying Nationwide TV adverts recently so maybe they're the bank in trouble. I'll probs just leave it where it is. At least it's safe and i'll be spending all of it in about 6-9 months hopefully. Ditto. I have moved my deposit fund every December for the last three years. Post Office > The AA > Marcus I’ve worked out that a move from Marcus would allow me to gain an extra £50 a year which is hardly going to help me compete with the local BTL boomers. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted September 27, 2020 Share Posted September 27, 2020 I have £44k and win about 2 x £25 per month on average. Whatever way I look at it, until now I've seen about 1.3% give or take 0.1 or so. And long may it continue. Out of boredom and poor rates with NS&I I might as well stick some in a PB which I've literally just done. If I get in excess of 0.1% I will be over the moon! Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 27, 2020 Share Posted September 27, 2020 And long may it continue. Out of boredom and poor rates with NS&I I might as well stick some in a PB which I've literally just done. If I get in excess of 0.1% I will be over the moon! So they have won as we accept these rates. Savers struggle to earn decent return and apathy takes over whilst borrowers are rewarded. We should fight and try earn more perhaps spend it or invest in the stock market.....oh wait, then they win too.😉 Quote Link to comment Share on other sites More sharing options...
nome Posted September 27, 2020 Share Posted September 27, 2020 So they have won as we accept these rates. Savers struggle to earn decent return and apathy takes over whilst borrowers are rewarded. We should fight and try earn more perhaps spend it or invest in the stock market.....oh wait, then they win too.😉 I'm leaving my max holding in PB's just as an act of defiance to show them I'm not going to do what they desperately want me to do... which is to withdraw it and spaff it away buying unnecessary shit in their failed economy or invest it in the markets and risk losing the lot. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 27, 2020 Share Posted September 27, 2020 I'm leaving my max holding in PB's just as an act of defiance to show them I'm not going to do what they desperately want me to do... which is to withdraw it and spaff it away buying unnecessary shit in their failed economy or invest it in the markets and risk losing the lot. I agree. I will have PBs maxed out....and who knows, this time next year we might be millionaires. Or is that exactly what they wanted us to do... 😂😂😂 Quote Link to comment Share on other sites More sharing options...
nome Posted September 27, 2020 Share Posted September 27, 2020 I agree. I will have PBs maxed out....and who knows, this time next year we might be millionaires. Or is that exactly what they wanted us to do... 😂😂😂 I'm hoping that if everyone does like they say they're going to do and withdraw their money from PB's then the odds of winning might actually increase despite the ''prize'' rate cut. It could just be me and you left battling it out for the £1m! Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 27, 2020 Share Posted September 27, 2020 I'm hoping that if everyone does like they say they're going to do and withdraw their money from PB's then the odds of winning might actually increase despite the ''prize'' rate cut. It could just be me and you left battling it out for the £1m! Actually I like the logic. Pretty sure that’s exactly how it works. Spread the word that PBs are sh1te.😆😆 Quote Link to comment Share on other sites More sharing options...
MattW Posted September 27, 2020 Share Posted September 27, 2020 We’re changing the interest rate on your Plus account. Dear Rant, We wanted to let you know that from 2 December 2020, we’re reducing the interest rate on your Plus account from 1.50% AER* to 0% AER. I got the same email. I had to move to TSB in 2017 when Norwich & Peterborough Building Society were closing the current accounts. It was a good move at the time as TSB interest rates were strong compared to the competition. Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted September 27, 2020 Share Posted September 27, 2020 So they have won as we accept these rates. Savers struggle to earn decent return and apathy takes over whilst borrowers are rewarded. We should fight and try earn more perhaps spend it or invest in the stock market.....oh wait, then they win too.😉 Sadly yes but if the market falls, correction, continues to fall (London), this will offset any loss... 😁 Quote Link to comment Share on other sites More sharing options...
BufferBear Bitcoin Bull Posted September 27, 2020 Share Posted September 27, 2020 I agree. I will have PBs maxed out....and who knows, this time next year we might be millionaires. Or is that exactly what they wanted us to do... 😂😂😂 Why did I believe that the max was a yearly limit? 🤔🤨 Thought they might be like ISAs...Oh well! Quote Link to comment Share on other sites More sharing options...
Wise Old Elf Posted September 28, 2020 Share Posted September 28, 2020 Coventry BS currently paying 1.1% for instant access account, limited to 2 withdrawals pa Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 28, 2020 Share Posted September 28, 2020 Coventry BS currently paying 1.1% for instant access account, limited to 2 withdrawals pa I have just opened a Yorkshire BS account paying 1%. Only out £5 in to get the foot in the door and get the ‘paper work’ sorted. Then I will top up. That’s my top tip...if there is a deal and you are mulling it over then open the account in the meantime - taking care to make sure you can add to it of course. Sometimes they stop new deposits on existing accounts but that’s much rarer that just withdrawing the facility to opening new accounts. I might open a Coventry one tomorrow if it lets me 😉 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 28, 2020 Share Posted September 28, 2020 Coventry BS currently paying 1.1% for instant access account, limited to 2 withdrawals pa Anyone remember the Icelandic banks and their tempting rates in 2007? Quote Link to comment Share on other sites More sharing options...
DonJop12 Posted September 28, 2020 Share Posted September 28, 2020 I have just opened a Yorkshire BS account paying 1%. Only out £5 in to get the foot in the door and get the ‘paper work’ sorted. Then I will top up. That’s my top tip...if there is a deal and you are mulling it over then open the account in the meantime - taking care to make sure you can add to it of course. Sometimes they stop new deposits on existing accounts but that’s much rarer that just withdrawing the facility to opening new accounts. I might open a Coventry one tomorrow if it lets me 😉 Yes – do not delay. Yesterday I was mulling over opening a West Brom building society account as it offered a dizzying 1% interest rate. It has already disappeared. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted September 28, 2020 Share Posted September 28, 2020 14 minutes ago, TheCountOfNowhere said: Anyone remember the Icelandic banks and their tempting rates in 2007? In my opinion the risk of bail-ins next time the financial system goes pop is far too high to chase 1% yields around. Quote Link to comment Share on other sites More sharing options...
rainmaker Posted September 28, 2020 Share Posted September 28, 2020 Natwest offer 3% on the new digital regular saver account (but only up to £1,000 balance!). There is no decent place to save. Gilts are negative. The 6 month emergency fund I have in instant saver Marcus account is now barely keeping up with inflation, will move this into the best instant access savings I can find. Quote Link to comment Share on other sites More sharing options...
DonJop12 Posted September 28, 2020 Share Posted September 28, 2020 Perhaps we will have to look at BTL.... 😁 Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 28, 2020 Share Posted September 28, 2020 So they have won as we accept these rates. Savers struggle to earn decent return and apathy takes over whilst borrowers are rewarded. We should fight and try earn more perhaps spend it or invest in the stock market.....oh wait, then they win too.😉 Borrowers are rewarded with more debt.... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 28, 2020 Share Posted September 28, 2020 (edited) In my opinion the risk of bail-ins next time the financial system goes pop is far too high to chase 1% yields around. ^this^ If house prices start falling say 5% yoy, your moneys worth 5% more yoy... Its a lie that increase in house prices aren't inflation Edited September 28, 2020 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
NuBrit Posted September 29, 2020 Share Posted September 29, 2020 Guess who closed their Marcus account and transferred it all to a brand new NS&I income bonds account just days ago? 😠 The bond is a fixed rate offering, so it should be honoured, no? Quote Link to comment Share on other sites More sharing options...
NuBrit Posted September 29, 2020 Share Posted September 29, 2020 It's funny. since my job became fully remote, I found myself having a few hundred extra every month thanks to not having to commute or spend money on lunches. I recently put some money into an NSI bond and having been funnelling the new money into a Virgin money regular saver (1%). We hear a lot about the negative economic effect of COVID, but equally so, there's quite a lot of people out there like me who have been net beneficiaries. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 29, 2020 Share Posted September 29, 2020 It's funny. since my job became fully remote, I found myself having a few hundred extra every month thanks to not having to commute or spend money on lunches. I recently put some money into an NSI bond and having been funnelling the new money into a Virgin money regular saver (1%). We hear a lot about the negative economic effect of COVID, but equally so, there's quite a lot of people out there like me who have been net beneficiaries. You are right. And lots of costs saved eg coffees, lunch (maybe) and ‘it’s Barry’s Birthday collection’ 😆😆 If you were an MP you would have received £10k to compensate you for having to work from home...all in this together. Hmmm...seemed fair Imagine MPs needed the extra money to help pay for the extra electricity for their hard wired nipple clamps 🤷🏻♂️ Quote Link to comment Share on other sites More sharing options...
msi Posted September 29, 2020 Share Posted September 29, 2020 Imagine MPs needed the extra money to help pay for the extra electricity for their hard wired nipple clamps 🤷🏻♂️ They are saving a fortune not traveling to Epstein Island Quote Link to comment Share on other sites More sharing options...
Pop321 Posted September 29, 2020 Share Posted September 29, 2020 They are saving a fortune not traveling to Epstein Island Won’t they just take the underground tunnel direct from Westminster? I think the individual travel pods are still in use. Joking apart there was not enough made about the ‘extra £10k’. Totally incongruous to the rest of the UK. I would say the worse example of entitlement and abuse of power....however, I am sure there are worse and I have just blanked them out. Quote Link to comment Share on other sites More sharing options...
captainb Posted September 29, 2020 Share Posted September 29, 2020 Won’t they just take the underground tunnel direct from Westminster? I think the individual travel pods are still in use. Joking apart there was not enough made about the ‘extra £10k’. Totally incongruous to the rest of the UK. I would say the worse example of entitlement and abuse of power....however, I am sure there are worse and I have just blanked them out. It wasn't a 10k payment to them. It was an allowance upto 10k which had to be fully itemised to move their staff in their Westminster offices to home or their constituency. As not all their employees would have a home office. Most haven't claimed anything like the full amount as they had fewer staff or their staff already had printers, computers etc at home. Wasn't reported as much as it wasn't real. Quote Link to comment Share on other sites More sharing options...
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