r00lish67
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Post by r00lish67 on Dec 5, 2019 14:40:27 GMT
Oh mirror mirror on the wall, is 3 years too long, too short, or should I not bother at all?
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lara
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Post by lara on Dec 5, 2019 14:47:40 GMT
Oh mirror mirror on the wall, is 3 years too long, too short, or should I not bother at all? I wouldn't fix at 2.21% over 3 years. I actually wouldn't fix for 3 years at all but I'm probably being too optimistic!
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hazellend
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Post by hazellend on Dec 5, 2019 14:52:12 GMT
Not worth it. Marcus gives 1.45% I think for instant access.
I don’t really do cash though so I’m probably clueless
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r00lish67
Member of DD Central
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Post by r00lish67 on Dec 5, 2019 14:56:52 GMT
Oh mirror mirror on the wall, is 3 years too long, too short, or should I not bother at all? I wouldn't fix at 2.21% over 3 years. I actually wouldn't fix for 3 years at all but I'm probably being too optimistic! It's a tough one. On the one hand, it's been nearly a decade of low interest rates so....On the other hand, it's been nearly a decade of low interest rates, sooo.....
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r00lish67
Member of DD Central
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Post by r00lish67 on Dec 5, 2019 15:00:08 GMT
Not worth it. Marcus gives 1.45% I think for instant access. I don’t really do cash though so I’m probably clueless Another way of looking at it though is 50% more return for locking away cash for a longer period of time ( I already have all the equity exposure I need, and only need so much instant access too). Obvs if interest rates skyrocket in 6 months time then it's going to look a very poor choice.
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lara
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Post by lara on Dec 5, 2019 15:18:24 GMT
I'll fix for a year but no more. I found 2.0% for a 1 year fix back in July at Metro Bank, it's now 1.8%. But yes, I wouldn't want to be fixed for too long in case rates do go up.
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keitha
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2024, hopefully the year I get out of P2P
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Post by keitha on Dec 5, 2019 15:20:09 GMT
ok for smaller amounts you can get 3% on regular savings with Monmouthshire BS @ £300 a month.
so over 12 months you make 1.5% Plus for me another 0.55% from the account I drip feed in from. so 2.05%.
are there any good "non tied" accounts anyone knows of.
Most of the 5% ones now need you to have main bank account with them.
of course if interest rates go up there may be some cheap property about, was talking to someone recently who said if mortgage rates go above 4.5% he will be forced to sell as wouldn't be able to afford the extra £800 a month on his mortgage ! he couldn't believe it when I said for years we paid double figure interest rates on mortgages ( be it on much lower amounts, and lower earnings ),
I'm sure I can remember being told not to take out a mortgage if payments would be more than 30% of my monthly income.
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r00lish67
Member of DD Central
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Post by r00lish67 on Dec 5, 2019 15:28:35 GMT
ok for smaller amounts you can get 3% on regular savings with Monmouthshire BS @ £300 a month. so over 12 months you make 1.5% Plus for me another 0.55% from the account I drip feed in from. so 2.05%. are there any good "non tied" accounts anyone knows of. Most of the 5% ones now need you to have main bank account with them. With the quite significant caveat that you need to either be in or visit Monmouthshire to open it. Best unrestricted regular saver I'm aware of is Coventry BS (up to £500pm at 2.5%) edit: No, YOU had to look up where Monmouthshire was. 
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macq
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Post by macq on Dec 5, 2019 15:42:57 GMT
until tomorrow HL Active savings(might only be new accounts) will add £25 for £5000 added within 60 days of opening and kept for 6 months so extra 0.5% on the minimum investment and they also do a 6 month bond(or instant) if you want to get out quick
p.s have not read all the T&Cs yet - just remember seeing it but wife is looking at for LB money
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macq
Member of DD Central
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Post by macq on Dec 5, 2019 15:49:19 GMT
Not worth it. Marcus gives 1.45% I think for instant access. I don’t really do cash though so I’m probably clueless Another way of looking at it though is 50% more return for locking away cash for a longer period of time ( I already have all the equity exposure I need, and only need so much instant access too). Obvs if interest rates skyrocket in 6 months time then it's going to look a very poor choice. always worth thinking about if your happy to fix is a cash ladder where you go 1 to 3 or 1 to 5 etc in years and where after the first year you can roll over year One into the longest term and still only be a year way from the next pay out
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Dec 5, 2019 16:14:39 GMT
ok for smaller amounts you can get 3% on regular savings with Monmouthshire BS @ £300 a month. so over 12 months you make 1.5% Plus for me another 0.55% from the account I drip feed in from. so 2.05%. are there any good "non tied" accounts anyone knows of. Most of the 5% ones now need you to have main bank account with them. With the quite significant caveat that you need to either be in or visit Monmouthshire to open it. Best unrestricted regular saver I'm aware of is Coventry BS (up to £500pm at 2.5%) edit: No, YOU had to look up where Monmouthshire was. Yes but some names change so often that BS names would newer keep up Account books very nice though black with classy silver writing
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