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5% isa fixed for 5 years should we take the plunge

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    5% isa fixed for 5 years should we take the plunge

    Newcastle BS is offering the above.

    Should we get on the train or is this a bad deal, as interest rates will rise and rise...........
    Faster, faster, faster, until the thrill of speed overcomes the fear of death.

    Patience is something you admire in the driver behind you and scorn in the one ahead.

    #2
    Originally posted by BlackenedBiker View Post
    Newcastle BS is offering the above.

    Should we get on the train or is this a bad deal, as interest rates will rise and rise...........
    ContractorUK - last with the news.

    Newcastle's 5% ISA closed last week!

    But it was a good deal while it lasted as it was fixed for 5 years but had a get out clause with 90 days notice. So when interest rates rocket, you can jump ship.

    Comment


      #3
      When I see rates on offer like that I immediately wonder whether this is the next B/S to go belly up.

      Comment


        #4
        Originally posted by Cyberman View Post
        When I see rates on offer like that I immediately wonder whether this is the next B/S to go belly up.
        Which ones have gone belly up so far?

        Comment


          #5
          Originally posted by Archangel View Post
          Which ones have gone belly up so far?

          A few. Off the top of my head, the Derbyshire and the Cheshire are two of them.

          Comment


            #6
            Originally posted by Cyberman View Post
            A few. Off the top of my head, the Derbyshire and the Cheshire are two of them.
            Dumfarline (or whatever they are called... the scottish one) almost went under. Some of it is owned by Nationwide, I believe.
            If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

            Comment


              #7
              Originally posted by BlackenedBiker View Post
              Newcastle BS is offering the above.

              Should we get on the train or is this a bad deal, as interest rates will rise and rise...........
              Since you can get 3% fixed for one year, I'd go for that instead. When the effects of the money printing kicks in, interest rates are going to rise in the next few years. That's why they're offering it for 5 years.

              And if the UK's credit rating gets downgraded, interest rates will have to rise by a few percentage points pretty quickly.

              Comment


                #8
                Originally posted by BlackenedBiker View Post
                Newcastle BS is offering the above.

                Should we get on the train or is this a bad deal, as interest rates will rise and rise...........
                The emergence of these seemingly high fixed rates indicates the banks are predicting rates are going to rise significantly over the next couple of years. I'm sure they will, therfore there is no way I would fix for so long at 5%
                The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.

                But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”

                Comment


                  #9
                  Originally posted by Bagpuss View Post
                  The emergence of these seemingly high fixed rates indicates the banks are predicting rates are going to rise significantly over the next couple of years. I'm sure they will, therfore there is no way I would fix for so long at 5%

                  ... you can give 90 days notice to exit, so not such a bad deal.

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