tzijlstra Posted November 21, 2015 Share Posted November 21, 2015 We have a number of ISAs with NatWest, all are a similar value, all started off gaining around 1-2 % interest. Now though we only get .25%... Not impressed, if this is Marc Carney's plan of getting money into the economy (getting people borrowing on cheap interest, force savers to waste their savings through low interest) than we will be in dire straits within a few years, again... for the same reasons... What do you do with your ISA and low interest? hang in there in hope of better years, or tempted to invest elsewhere? Link to comment Share on other sites More sharing options...
scania Posted November 21, 2015 Share Posted November 21, 2015 It doesn't half make your mortgage cheap. Link to comment Share on other sites More sharing options...
muddywolf Posted November 21, 2015 Share Posted November 21, 2015 Really hard to get anything worth while cash ISA wise. I got a 2% one from Yorkshire bank at the start of the tax year but 2% was around the very top end without locking away for 3 year + (The Yorkshire bank one was a 40 days notice one so very good compared to the others). I have not looked recently but Santander offered 3% on a current account (interest paid on a max 20000) if certain direct debits were setup (123 current account). I'm a fairly new saver but when I first got a started ING was paying around 6%, those were the days. What was the max apr interest on savings you remember? Link to comment Share on other sites More sharing options...
WiseOwl182 Posted November 21, 2015 Share Posted November 21, 2015 Why do you have multiple ISAs? I find keeping it all in one large sum allows you to get the best rates (well, slightly better anyway). I'm tempted to invest elsewhere but in the meantime I continue to shop around for the market leader that allows transfer ins. Another thing I do is to take out a regular saver , as they pay high rates relatively. Max them out each month and at the end of the 12 month terms, dump into ISA. ---------- Post added 21-11-2015 at 22:56 ---------- What was the max apr interest on savings you remember? Icesave were pretty good. Link to comment Share on other sites More sharing options...
lectrolove Posted November 21, 2015 Share Posted November 21, 2015 I've got an ISA but I've also put some money into peer to peer lending which gives a much better return. Have a look at Zopa and Funding Circle. Link to comment Share on other sites More sharing options...
scania Posted November 21, 2015 Share Posted November 21, 2015 There is a way to do it, if you are able to save for at least a year. Say for example you had a £30 grand balance on your mortgage, and £3 grand to save in cash. Mortgage rates are at an all time low and most mortgages allow you to pay off 10% of the balance without penalty. The interest you will save on paying your 3k on your mortgage will be more than the interest you will make from 3k in an ISA in a year. We've done it last year, and pound for pound we have saved thousands on the term our mortgage. There is no way we would have made that in a year in an ISA. It all depends on how many years you have left on your mortgage, but if its under say 10 years, the savings could be huge, not to mention the possibility of of paying your mortgage off quicker, thus saving even more real pound notes. Link to comment Share on other sites More sharing options...
tzijlstra Posted November 21, 2015 Author Share Posted November 21, 2015 Thanks for the advice all, some good tips. Will consider things! Link to comment Share on other sites More sharing options...
scania Posted November 21, 2015 Share Posted November 21, 2015 Thanks for the advice all, some good tips. Will consider things! Good luck with it, and if you get any more ways of long term savings please share them with us. I was told of the mortgage saving idea by a bus driver!! Link to comment Share on other sites More sharing options...
Nagel Posted November 21, 2015 Share Posted November 21, 2015 You can get 5% on Zopa. Link to comment Share on other sites More sharing options...
MLAR Posted November 22, 2015 Share Posted November 22, 2015 Wealthy people don't keep their money in cash. Why not consider using a Fund supermarket to open a stocks and shares ISA? You should be able to beat 5% pa, quite easily. Fidelity have a good range of funds, from pretty safe ones that might yield you 4- 6%, to more risky ones that might get you three times as much. Link to comment Share on other sites More sharing options...
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