rantnrave Posted August 12, 2021 Author Share Posted August 12, 2021 1 hour ago, TheCountOfNowhere said: Surprised there's been any rise. There's definitely something afoot. This. As someone who receives weekly updates on the normally placid savings market, these developments are significant. Knew I would have to restate this, but it is this momentum and pace of change I am trying to highlight rather than the paltry levels on offer. Quote Link to comment Share on other sites More sharing options...
Speed1987 Posted August 12, 2021 Share Posted August 12, 2021 2 hours ago, winkie said: Savers are subsidising the borrowers, they are doing that purely by saving, reducing spending and/or not borrowing..... Pretty much, what's happening... Borrow from the bank, then bank of England, will gift you free monies from savers Quote Link to comment Share on other sites More sharing options...
rantnrave Posted September 22, 2021 Author Share Posted September 22, 2021 Coventry back to the top of the easy access savings accounts chart, with several providers upping their rates again (admittedly from a low base - it's the direction of movement I'm highlighting) Easy Access Accounts Best Buys | Find the best rate. Keep the best rate (savingschampion.co.uk) Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted September 22, 2021 Share Posted September 22, 2021 Interesting, thanks. When instant access hits 1% we have a disturbance in the Force, not until then though IMO. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted September 22, 2021 Share Posted September 22, 2021 Looking hopeful for next year's ISA allowance . Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 30, 2021 Share Posted September 30, 2021 Has the Term Funding ended ? I thought it has been extended into 2022, but I am reading June 2021 now People are looking at IRs going up as the mechanism for collapsing the bubble but in reality Term Funding causes the reinflation of prices, not IRs, they were at 0.5% and savings rates were 3-5%. If Term Funding has ended/is ending and the banks/mutuals need cash, savings rates have to go up....and so do mortgage rates...and down comes house prices. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 30, 2021 Share Posted September 30, 2021 On 22/09/2021 at 14:39, dances with sheeple said: Interesting, thanks. When instant access hits 1% we have a disturbance in the Force, not until then though IMO. Best rates I could find was 3.5%, but > 1% if you want to save a bit more. Not so bad for people saving a little each month for a rainy day. Nice to see. Â Â so, it savings rates are going up...are any other rates going up ? Quote Link to comment Share on other sites More sharing options...
Locke Posted September 30, 2021 Share Posted September 30, 2021 2 hours ago, TheCountOfNowhere said: Best rates I could find was 3.5%, but > 1% if you want to save a bit more. Not so bad for people saving a little each month for a rainy day. Nice to see.   so, it savings rates are going up...are any other rates going up ? @spyguy how solvent do you think skipton is? You often say that building societies are up to their neck in "investment properties" Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted September 30, 2021 Share Posted September 30, 2021 38 minutes ago, Locke said: @spyguy how solvent do you think skipton is? You often say that building societies are up to their neck in "investment properties" The Skipton is a good one to look at.  https://www.business-live.co.uk/professional-services/yorkshire-based-building-societies-see-19907240  https://www.fitchratings.com/research/structured-finance/covered-bonds/fitch-affirms-skipton-building-society-at-a-outlook-negative-27-11-2020  They own several chains of EAs, a lot of the top brands, the ones I see ramping prices to extreme.  They seem to have amalgamated under the connels brand now:    https://www.connellsgroup.co.uk/our-group/our-brands/ I make that 97 EA chains. I'd wager a lot of the people buying at these extreme from those helpful EAs would be getting a LARGE mortgage from Skipton. They also bought the "countrywide PLC" dog last year !!! To say this is obscene is an understatement.  Could they be in trouble, I bloody hope so. ****s of the highest order.  Quote Link to comment Share on other sites More sharing options...
spyguy Posted September 30, 2021 Share Posted September 30, 2021 2 hours ago, Locke said: @spyguy how solvent do you think skipton is? You often say that building societies are up to their neck in "investment properties" Skipton is nuts. Quote Link to comment Share on other sites More sharing options...
Locke Posted October 1, 2021 Share Posted October 1, 2021 17 hours ago, TheCountOfNowhere said: Not so bad for people saving a little each month for a rainy day. Nice to see.  14 hours ago, TheCountOfNowhere said: Could they be in trouble, I bloody hope so. ****s of the highest order. So when they go belly up, it's not so nice for a rainy day eh Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 1, 2021 Share Posted October 1, 2021 1 hour ago, Locke said: Â So when they go belly up, it's not so nice for a rainy day eh They'll only give the hair cuts to the really hairy. Quote Link to comment Share on other sites More sharing options...
Gemma Rose Posted October 1, 2021 Share Posted October 1, 2021 So yesterday Marcus informed me the interest on the bank account I have with them was increasing (I think I only had about a pound in it as I’d cleared it out in disgust after they dropped  them) and today BLME (Bank of London and the Middle East) have just sent an email stating  they are increasing profits  (interest rates) from 0.70% to 0.80% for the 90 day notice account . Am I spotting a trend ! Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 13, 2021 Author Share Posted October 13, 2021 Another provider upping their easy access rate, by the smallest amount possible, in order to sit at the top of the table: Easy Access Accounts Best Buys | Find the best rate. Keep the best rate (savingschampion.co.uk) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 13, 2021 Share Posted October 13, 2021 On 01/10/2021 at 16:16, Gemma Rose said: So yesterday Marcus informed me the interest on the bank account I have with them was increasing (I think I only had about a pound in it as I’d cleared it out in disgust after they dropped  them) and today BLME (Bank of London and the Middle East) have just sent an email stating  they are increasing profits  (interest rates) from 0.70% to 0.80% for the 90 day notice account . Am I spotting a trend ! You're confirming a trend, rantrave should get the credit for spotting a trend 🙂 Look at UK bond yields creeping up too. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 20, 2021 Author Share Posted November 20, 2021 Again, drawing attention to the direction of travel rather than the paltry rates on offer, top of the Easy Access charts now stands at 0.7% Quote Link to comment Share on other sites More sharing options...
fellow Posted November 22, 2021 Share Posted November 22, 2021 The problem now is the rates are so low most people don't bother switching as it is not worth the hassle. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 26, 2021 Author Share Posted November 26, 2021 A new entry at the top of the Easy Access charts - highest rate on offer goes from 0.7% to 0.75% Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 26, 2021 Share Posted November 26, 2021 1 minute ago, rantnrave said: A new entry at the top of the Easy Access charts - highest rate on offer goes from 0.7% to 0.75% Or 5.3% below inflation. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted November 26, 2021 Author Share Posted November 26, 2021 3 minutes ago, TheCountOfNowhere said: Or 5.3% below inflation. See multiple earlier posts from me highlighting the direction of travel rather than the paltry rates Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 26, 2021 Share Posted November 26, 2021 1 hour ago, rantnrave said: See multiple earlier posts from me highlighting the direction of travel rather than the paltry rates If savings rates are going up then so are mortgage rates. All to be expected if Term Funding has ended. Now if only the bankers could have another excuse not to raise IRs and do some more money printing theft Quote Link to comment Share on other sites More sharing options...
fellow Posted November 26, 2021 Share Posted November 26, 2021 1 hour ago, TheCountOfNowhere said: If savings rates are going up then so are mortgage rates. All to be expected if Term Funding has ended. Now if only the bankers could have another excuse not to raise IRs and do some more money printing theft I would be interested to learn what term funding actually involved, what effect this had on the savings / mortgage rates, at what point this ended, what effect this is likely to have on rates going forward and how long this this will take to feed through? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted November 26, 2021 Share Posted November 26, 2021 1 hour ago, fellow said: I would be interested to learn what term funding actually involved, what effect this had on the savings / mortgage rates, at what point this ended, what effect this is likely to have on rates going forward and how long this this will take to feed through? Have a look at the BoE reports, they are quite clear on it's intended effect, lower mortgage rates and higher asset prices. We are either being ruled by idiots or criminals. Quote Link to comment Share on other sites More sharing options...
Locke Posted November 26, 2021 Share Posted November 26, 2021 50 minutes ago, TheCountOfNowhere said: We are either being ruled by idiots or criminals. Quote Link to comment Share on other sites More sharing options...
coypondboy Posted November 26, 2021 Share Posted November 26, 2021 Looking at the stockmarket bloodbath and drop in crude oil think interest rates won't be going up anytime soon. Quote Link to comment Share on other sites More sharing options...
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