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Pete95

Fixed Rate Savings Rates Have Shot Up Recently...

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http://www.moneyfacts.co.uk/savings/charts/savings_fixed.htm

I always keep an eye on fixed rate savings rates - took out a 1year fixed rate bond in Jan at 5.15%, and that was the best rate for a while - but just recently (last week or so), lots of banks/BS's have started offering ever higher fixed rates on savings - upto 5.55% now!

Clearly the future directon of interest rates is UP - I wonder how far they will rise, and how much they'll need to go up to start pushing moderate numbers of people over the edge...

If bankruptsies are at record levels before rates rise, then things cant be rosy for many others..

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I advised my girlfriend to take a five year 4.55% mortgage fix being offered by the Halifax last year. She took my advice and the deal disappeared less than two weeks later!

Isn't it funny though? Banks are withdrawing their fixed mortgage deals and replacing them with more expensive ones, suggesting higher rates are coming... but they're cutting the rates that they're paying on savings (my ISA is down to 3.5% now), suggesting lower rates are coming. What's all that about?

Edited by Bingley Bloke

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Isn't it funny though? Banks are withdrawing their fixed mortgage deals and replacing them with more expensive ones, suggesting higher rates are coming... but they're cutting the rates that they're paying on savings (my ISA is down to 3.5% now), suggesting lower rates are coming. What's all that about?

There just trying to keep their margins. Bad debt is on the increase you know!

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but they're cutting the rates that they're paying on savings (my ISA is down to 3.5% now),

Please dont let them get away with this. There are plenty of ISAs around that pay around 5%

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Please dont let them get away with this. There are plenty of ISAs around that pay around 5%

who is giving a fixed 1 year bond for 5.55%??

can you add somelinks..might be worth checking out

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who is giving a fixed 1 year bond for 5.55%??

can you add somelinks..might be worth checking out

The 5.55% is a 3year, but Im sure if you look around you could probably get ~5.35% on a one year.

And as Johnny Cash says, theres plenty of ISA's paying 5% or more now - B&B is 5%, and National Savings is 5.05%.

I think some of the 30days notice ones are more like 5.30%.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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