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6.62% Fixed Term Deposit

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The Tulip will return in...

Looks like that the Co-op is about the best fixed bond out there at the moment ignoring the foreign banks. It pays slightly less than the Derbyshire but I do not have one of their branches anywhere near me plus, from what I can make out, the Co-op has little subprime exposure.

If the BOE drops IRs next week I think this deal will disappear pretty soon. The only other bond I am considering now is Leeds till August of this year at 6.00%. Leeds is well capitalised apparently.

I keep looking at A&L's 12 month 6.3 bond but my gut tells me to avoid.

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The Tulip will return in...

Looks like that the Co-op is about the best fixed bond out there at the moment ignoring the foreign banks. It pays slightly less than the Derbyshire but I do not have one of their branches anywhere near me plus, from what I can make out, the Co-op has little subprime exposure.

If the BOE drops IRs next week I think this deal will disappear pretty soon. The only other bond I am considering now is Leeds till August of this year at 6.00%. Leeds is well capitalised apparently.

I keep looking at A&L's 12 month 6.3 bond but my gut tells me to avoid.

Got my appointment booked with the CO-OP tomorrow :rolleyes:

BTW, the is Leeds Bond the three year TESSA? http://www.leedsbuildingsociety.co.uk/savi..._tessa_isa.html

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Got my appointment booked with the CO-OP tomorrow :rolleyes:

BTW, the is Leeds Bond the three year TESSA? http://www.leedsbuildingsociety.co.uk/savi..._tessa_isa.html

No - it is a fixed 6.09% branch one till August 17th 2008. They have a postal one paying 6.11% till August 1st of this year. I read a report a few weeks back that Leeds has more savings than loans.

At the moment I am weighing up the pros and cons of fixing for 6 months or 12 months. If I go with the Leeds one I might be kicking myself in August if the BOE has reduced rates below 5%. Then again, inflation might be the curse and I could be kicking myself that I put money in 12 months at the Co-op.

My other bonds are the NR but that has instant access and then a 6 monther at HBOS. Oh, and I took out the Lloyds 12 month ISA last week.

It is so up in the air at the moment trying to safeguard an STR/House buying fund. I cannot recall a time like this in the past 18 years when it was so uncertain which ways IRs are going to go.

Oh, another reason I am staying away from Derbyshire BS is that most of their branches are in and around Nottinghamshire which concerns me re all those BTL appartments unsold in the area. Just concerned that Derbyshire might be exposed to it.

Edited by The Masked Tulip

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No - it is a fixed 6.09% branch one till August 17th 2008. They have a postal one paying 6.11% till August 1st of this year. I read a report a few weeks back that Leeds has more savings than loans.

snip...

I don't have a large fund to move (£16k now, another 8k in July), and it's my first time investing - so thought I'd go for:

9k in Lloyds TSB FR 6.5% Cash ISA http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp

7k in the 6.62 % CO-OP Bond http://www.co-operativebank.co.uk/servlet/...ndard&loc=l

Put the other 8k in July in a tracker, when we have a better idea of IR's - although if they go higher than 6.5% there will be blood on the streets, and we'll have other things to worry about :ph34r:

Also, perhaps it's good to have a 50/50 spread between tracker & fixed?

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If you can put more than 9K into the Lloyds 6.5% ISA that is much better than the Co-op deal as it is TAX FREE. You can put another 3,600 in after April 7th. I doubt you will find a better deal at the moment anywhere.

Personally I would stay away from trackers and keep to instant access accounts. Whilst the climate for IRs is uncertain - look at Iceland - it does look more than the UK will be going down in the short-term at least than up. You never know though.

Also, look at Northern Rock and don't be put off putting money there is you can find a good deal.

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Just got off the phone to the co-op to arrange mine, they said the offer was going to end in the next couple of days, so be quick

hmmm they said that to me today as well.....4 days later....

But if you open it over the phone they keep it open for 26 days til they recieve your Mulla...

Well that what the nigerian sounding guy at other end said when i gave him my credit details.

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FYI, I went into a branch and opened one of these the week before last. Got a letter from them today asking me to provide proof of who I was even though the branch took photocopies of such info when I filled in my application form.

So they do not seem to be too clever on the admin front.

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FYI, I went into a branch and opened one of these the week before last. Got a letter from them today asking me to provide proof of who I was even though the branch took photocopies of such info when I filled in my application form.

So they do not seem to be too clever on the admin front.

I put a modest amount of money into one of these. I popped into my local Co-op Bank last Tuesday.

I too received a request for further ID, despite them taking photocopies while I was there.

I returned to the branch on Saturday with my documents (again) and was told they were unnecessary as the account was already open, and the ID request must've just 'crossed in the post'.

This doesn't really ring true, but it sounds like it could be a common problem with their application/account opening procedure.

Hey ho. As long as they pay me the 6.62% in twelve months, I don't mind! :)

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I put a modest amount of money into one of these. I popped into my local Co-op Bank last Tuesday.

I too received a request for further ID, despite them taking photocopies while I was there.

I returned to the branch on Saturday with my documents (again) and was told they were unnecessary as the account was already open, and the ID request must've just 'crossed in the post'.

This doesn't really ring true, but it sounds like it could be a common problem with their application/account opening procedure.

Hey ho. As long as they pay me the 6.62% in twelve months, I don't mind! :)

Thanks, I will pop into my branch.

Edit:

Popped in to check. The bond was opened. Staff explained that their computers were sending out the letter to everyone even though it was not needed apparently.

Edited by The Masked Tulip

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The account is now closed to new business.

Wow, there are some weird things happening with the banks.

Mortgage rates being raised, mortgage product lines being pulled (including Co-op's, yes?), savings rates being reduced and savings products being pulled?

Don't they want our business at all? :o

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Wow, there are some weird things happening with the banks.

Mortgage rates being raised, mortgage product lines being pulled (including Co-op's, yes?), savings rates being reduced and savings products being pulled?

Don't they want our business at all? :o

Read an article in the Daily Mail today saying that the banks are almost out of cash. Sods should offer better interest rates for savers then shouldn't they!?

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I don't have a large fund to move (£16k now, another 8k in July), and it's my first time investing - so thought I'd go for:

9k in Lloyds TSB FR 6.5% Cash ISA http://www.lloydstsb.com/savings/fixed_rate_cash_isa.asp

7k in the 6.62 % CO-OP Bond http://www.co-operativebank.co.uk/servlet/...ndard&loc=l

Put the other 8k in July in a tracker, when we have a better idea of IR's - although if they go higher than 6.5% there will be blood on the streets, and we'll have other things to worry about :ph34r:

Also, perhaps it's good to have a 50/50 spread between tracker & fixed?

Garybug I am looking at the Lloyds ISA deal as well. I cant find anything else that competes. I have a substantial chunk in a HSBC ISA which is looking less and less competitive as the weeks go by so I want to transfer the lot. Can anyone better the LLOyds ISA deal at 6.5%, Its not instant access though is it and is paid annually, correct? I am just worried if there will be a better deasl coming up over the next month or 2 despite the BoE dropping rates? Any thoughts folks?

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  • 297 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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