Interest Rate Rises

[Sarah]

Up again!

"Santander puts up mortgage rates just FIVE days after cutting them"

Santander has announced it is increasing the interest rates a number of its fixed rate mortgage deals, just days after it cut them.

Starting from tomorrow, the bank says it is increasing all fixed rate deals for home buyers and those remortgaging.

It is also withdrawing all its exclusive first-time buyer fixed rate deals, as well as a three-year fixed rate product for home buyers with a 10 per cent deposit.

https://www.thisismoney.co.uk/money/mor ... -them.html

[sanity clause]

Santander rate cut.

A message from Santander yesterday...

The interest rate on your Easy Access Saver Limited Edition (Issue 3) will reduce from 5.20% AER/gross
(variable) to 4.20% AER/gross (variable) on 20 May 2024

[Sarah]

Chase 5.1% easy access savings available for limited number of eligible customers (not me, it seems):

You can get the offer if:

You became a Chase customer on or before 29 February 2024;
AND
You had less than £500 in total across any Chase savings accounts you held on 8 March 2024 (you can hold up to 10 of these accounts).

https://www.moneysavingexpert.com/news/ ... onus-rate/

[Sarah]

NS&I Direct Saver up to 4.00% gross/AER effective today. Not too shabby.
https://www.nsandi.com/historical-interest-rates

[planteria]

i use one of these, kind of by default: TSB card payments into a NS&IDS prior to transfer in £100 blocks into PBs.

[Sarah]

Chase 5.1% easy access savings available for limited number of eligible customers (not me, it seems):

You can get the offer if:

You became a Chase customer on or before 29 February 2024;
AND
You had less than £500 in total across any Chase savings accounts you held on 8 March 2024 (you can hold up to 10 of these accounts).

https://www.moneysavingexpert.com/news/ ... onus-rate/

I have this 5.1% rate now -- could be worthwhile checking again if not previously eligible!

These are the updated criteria:

This offer is available to new customers joining Chase from 2 May 2024, and to existing Chase customers with no saver account, or a combined balance of less than £50,000 in saver accounts, at close of 2 May 2024.

The 1% boost ends 16 January 2025.

https://www.chase.co.uk/gb/en/saver-boosted/

[Sarah]

Ford Money

In line with Our Best Rate Guarantee we’re increasing the interest rate on our Flexible Saver effective 26th July 2024 as follows:

Current rate New higher rate
4.51% Gross 4.65% Gross

(4.75% AER)

https://www.fordmoney.co.uk/savings-pro ... ible-saver

[sanity clause]

NS&I offer a fully guaranteed 1 year bond at 6.2%
https://www.thisismoney.co.uk/money/sav ... s-too.html

These bonds are now coming up for maturity, depending on when invested.

According to the blurb, the options are as follows...

Option 1: renew for another 1-year term
On its maturity date your Guaranteed Growth Bond will automatically start a new 1-year term at the new rate of 5.15% gross/AER, unless you choose one of the other options. Even if the rates on offer for
Guaranteed Growth Bonds fall between now and the maturity date, you'll still earn the rate quoted above if you renew your investment for a further term of the same length. If the rates go up between now and the maturity date, you will receive the higher rate.

Option 2: renew for a term of a different length
You may choose to keep your money in Guaranteed Growth Bonds but invest for a different length of
time. See the enclosed summary box for the terms and rates available.
If you choose this option, we will invest your money in the Issue that is on offer when your investment
matures. The interest rates on offer could go up or down between now and the maturity date. We'll send you confirmation shortly after the renewal date.

Option 3: switch to another NS&I account
You can move your money to any NS&I account that is on sale when your investment matures.

Option 4: cash it in
You can cash in your Bond on the maturity date.
You can also choose two or more of these options if you prefer.

5.15% doesn't seem too bad, considering the BoE decision.

[MrsBear]

Yes, I will probably reinvest when mine is due to mature

[Sarah]

Just received my NS&I GGB renewal options too, same rate 5.15%. They're defaulted to auto-renew, with cancellation possible within 30 days.