P.P. Posted January 20, 2008 Posted January 20, 2008 just put up a link for this bond in the investment section, but one of the conditions caught my eye which is why I have posted here: http://www.alliance-leicester.co.uk/saving...e=FixedRateBond Rates effective from 15.01.08. Monthly interest only available for balances over £2,500. This Bond will mature on the 01.02.09. Available to new and existing customers who are transfering or paying in money from outside Alliance & Leicester. Quote
salamander Posted January 20, 2008 Posted January 20, 2008 just put up a link for this bond in the investment section, but one of the conditions caught my eye which is why I have posted here:http://www.alliance-leicester.co.uk/saving...e=FixedRateBond Rates effective from 15.01.08. Monthly interest only available for balances over £2,500. This Bond will mature on the 01.02.09. Available to new and existing customers who are transfering or paying in money from outside Alliance & Leicester. Link looks like it got mangled. Is this the one ? http://www.alliance-leicester.co.uk/saving...e=FixedRateBond Quote
CONDEX Posted January 20, 2008 Posted January 20, 2008 Will put some money into this next week... Quote
Guest_chris c-t_* Posted January 20, 2008 Posted January 20, 2008 Will put some money into this next week... Holy sh*t! I didn't realise it was external only! I just walked past a branch of A&L, and they had the offer for 7% printed on a piece of A4 paper blu-tacked to the window. THEY ARE DESPERATE. I'm getting my cash out 1st thing Monday. I will be overdrawn there a.s.a.p. (before american markets open on tuesday after the holiday!) Quote
CONDEX Posted January 20, 2008 Posted January 20, 2008 Holy sh*t! I didn't realise it was external only!I just walked past a branch of A&L, and they had the offer for 7% printed on a piece of A4 paper blu-tacked to the window. THEY ARE DESPERATE. I'm getting my cash out 1st thing Monday. I will be overdrawn there a.s.a.p. (before american markets open on tuesday after the holiday!) £35k is guranteed by the government so whats the rush... Quote
Injin Posted January 20, 2008 Posted January 20, 2008 £35k is guranteed by the government so whats the rush... He might want to have it in the next 6 months. Just fill out forms 12a through to 45f and wait 6 - 8 weeks for a response. Your money will be wired to northern rock via the cayman islands. Quote
Guest_chris c-t_* Posted January 20, 2008 Posted January 20, 2008 £35k is guranteed by the government so whats the rush... Actually, I'd like them to come to me, begging me to pay them back the money I would end up owing them through my overdraft. Quote
Ash4781 Posted January 20, 2008 Posted January 20, 2008 What rate do they write mortgages ? 7% The yield says it's risky but presumably bail outs all round. Quote
Rover Posted January 20, 2008 Posted January 20, 2008 (edited) Halifax RBS had similar offer prior to Xmas. 7.05% on a 3 month bond!!! Sunk all my money in that. It must have been highly successful, as it lasted about 3/4 weeks. Most are now 1 year bonds like A+L. I'm not prepared to committ my money for that length of time. Fill in the right boxes on this link: http://www.moneysupermarket.com/savings/default.asp Edited January 20, 2008 by Rover Quote
Guest grumpy-old-man Posted January 20, 2008 Posted January 20, 2008 He might want to have it in the next 6 months. Just fill out forms 12a through to 45f and wait 6 - 8 weeks for a response. Your money will be wired to northern rock via the cayman islands. Quote
Goldfinger Posted January 20, 2008 Posted January 20, 2008 Actually, I'd like them to come to me, begging me to pay them back the money I would end up owing them through my overdraft. Guess why I have overdrawn all my accounts and have outstanding credit card balances? The interest rates are possibly only marginally higher than the real inflation, and I don't want a bank to owe me, but the other way round (when they go bust). NOTE: My debt is a very small amount of my net worth. Don't try this at home. Quote
nuts Posted January 20, 2008 Posted January 20, 2008 £35k is guranteed by the government so whats the rush... I think that you will find that the deposit proection scheme is a an industry levy... not a govt guarantee. Quote
eightiesgirly Posted January 20, 2008 Posted January 20, 2008 I think that you will find that the deposit proection scheme is a an industry levy... not a govt guarantee. And this particular industry is very, very skint. Quote
Layman Posted January 20, 2008 Posted January 20, 2008 This doesn't scare me. I like risk - it makes life interesting. And 7% is a pretty good return. Will be whacking £10k in there on Monday. Better than the bonds currently offered by Nationwide, Halifax, et al. Link for anyone who wants to invest / gamble - A&L Fixed Rate Bond Quote
OzzMosiz Posted January 20, 2008 Posted January 20, 2008 They can't want it that bad, they dropped the rate on their Fixed Rate ISA from 5.95 to 5.65 Quote
It is different this time Posted January 20, 2008 Posted January 20, 2008 Link for anyone who wants to invest / gamble - A&L Fixed Rate Bond I'd rather keep it in my William Hill account than A/L - NR - BB. The return is, usually, better and much safer Quote
abaxas Posted January 20, 2008 Posted January 20, 2008 I'd rather keep it in my William Hill account than A/L - NR - BB. The return is, usually, better and much safer Until your limited to 0 stakes on horses But if you want a bet.... The draw in the Madrid derby is looking good at 3.4. Quote
Rover Posted January 20, 2008 Posted January 20, 2008 I'd rather keep it in my William Hill account than A/L - NR - BB. The return is, usually, better and much safer Nah, post NR - they're all as safe as the BoE. They may not be making profits for a few years, but they're safe. The deals on offer reflect the penal rate of borrowing from the CB's. Quote
Laughing Gnome Posted January 20, 2008 Posted January 20, 2008 £35k is guranteed by the government so whats the rush... Are building society bonds guaranteed by the FSA in the same way as accounts? Be a shame to trip on a legal nicety, like failing to open specifically share account when carpetbagging for example. Quote
Havoc Posted January 20, 2008 Posted January 20, 2008 About 2 weeks ago I applied for a 3k loan from A&L. Just a small loan to sort out a couple of things. They told me to 'Go hang in the wind'. Now I can see why. Quote
P.P. Posted January 20, 2008 Author Posted January 20, 2008 Are building society bonds guaranteed by the FSA in the same way as accounts?Be a shame to trip on a legal nicety, like failing to open specifically share account when carpetbagging for example. A&L is a PLC not a BS in the mutual sense Quote
notthereyet Posted January 20, 2008 Posted January 20, 2008 (edited) just put up a link for this bond in the investment section, but one of the conditions caught my eye which is why I have posted here:http://www.alliance-leicester.co.uk/saving...e=FixedRateBond Rates effective from 15.01.08. Monthly interest only available for balances over £2,500. This Bond will mature on the 01.02.09. Available to new and existing customers who are transfering or paying in money from outside Alliance & Leicester. Yes looks like they are desperate for more cash, Don,t know if it is a good thing to invest with them at the moment, Just proves there must still be a shortage of cash. Edited January 20, 2008 by TIMSY Quote
Guest_chris c-t_* Posted January 20, 2008 Posted January 20, 2008 They can't want it that bad, they dropped the rate on their Fixed Rate ISA from 5.95 to 5.65 WRONG: banks want your money if they can guarantee they don't have to pay it back for a term (say 1y) whereas with an ISA, that's like having an unpaid bill that could be called in at any time, so this account does differ Quote
Guest vicmac64 Posted January 20, 2008 Posted January 20, 2008 just put up a link for this bond in the investment section, but one of the conditions caught my eye which is why I have posted here:http://www.alliance-leicester.co.uk/saving...e=FixedRateBond Rates effective from 15.01.08. Monthly interest only available for balances over £2,500. This Bond will mature on the 01.02.09. Available to new and existing customers who are transfering or paying in money from outside Alliance & Leicester. good find PP, THEY can kiss goodbye to my accounts - says it all really - safe until 3rd qtr allegedly!!!! Quote
Rover Posted January 20, 2008 Posted January 20, 2008 (edited) They're all desperate for more cash (liquidity). A+L, B+B, HRBS, etc. Hence their attractive bond rates. I presume it's still cheaper than going cap in hand to the BoE. Not to mention the negative vibes if it became known they've excessively borrowed from the Bank. This isn't really news chaps, even the likes of Barclays are 'selling their arses' to the highest bidder in asia/middle east. They're all short of cash and sitting on big paper losses. Edited January 20, 2008 by Rover Quote
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