Jump to main content of pageaccessibility informationSitemap
15 Dec 2019

Go Direct Personal Finance News  2009

   

Moneyfacts welcomes ISA reforms

The Office OF Fair Trading has today announced changes to the cash ISA market, which it has said will improve fairness and transparency for customers.

Michelle Slade, spokesperson for Moneyfacts.co.uk, commented:

“The reforms to the ISA market are a welcome boost for savers, many of whom lost vital interest through the delays in transferring ISA money between providers.

“One fifth of ISA accounts include a temporary bonus as part of the headline rate. In many instances the bonus makes up the significant part of the rate.

“Highlighting interest rates on statements and advising customers when bonuses end is a big step forward in improving the transparency to customers.

“Inertia amongst savers to act on poor interest rates is likely to remain, particularly as for many the only time they check the rate is when their annual statement arrives.

“Savers need to get into the habit of checking the rate payable regularly in order to ensure they are receiving a competitive rate of interest.

“Many of the factors highlighted by the super-complaint are prevalent in other aspects of the savings market. Hopefully providers will take it on themselves to apply these reforms across the board.”

Best Easy Access ISAs

Provider

Account

Rate

Bonus

Min Investment

Transfers In

Nationwide BS

e-ISA

2.75%

Rate includes a 1.00% bonus until 30.6.11

£1

Yes

Birmingham Midshires

ISA Extra

2.70%

Rate includes a 1.00% bonus for 15 months

£500

Yes

Cheltenham & Gloucester

C&G Cash ISA

2.70%

Rate includes a 1.70% bonus for 12 months

£1

Yes

Marks & Spencer Money

Flexi Cash ISA

2.65%

Rate includes a 1.25% bonus for 18 month

£100

Yes

first direct

Cash e-ISA

2.62%

Rate includes a 2.42% bonus until 31.10.11

£1

Yes

Source: Moneyfacts.co.uk 29.6.10

Best Fixed ISAs

Term

Provider

Account

Rate

Min Investment

Transfers In

5 Years

Birmingham Midshires

5 Year Fixed Rate ISA

4.25%

£500

Yes

4 Years

Nationwide BS

4 Year Fixed Rate ISA

4.15%

£1

Yes

3 Years

Nationwide BS

3 Year Fixed Rate ISA

4.00%

£1

Yes

2 Years

Aldermore

2 Year Fixed Rate ISA

3.25%

£1,000

Yes

1 Year

Post Office

Fixed Rate Cash ISA Issue 2

3.00%

£500

Yes

 

Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500

Remortgage | Mortgage Guide | Remortgage Guide | Life Insurance Quote | Mortgage Life Insurance | Decreasing Life Insurance | Home Insurance Quote | Conveyancing Quote | Mortgage Comparison | Free Mortgage Advice | Mortgage Rates | Mortgage Payment Calculator | Mortgage Protection | Best Mortgage | Mortgage Lenders | Income Protection | Remortgage Lenders | Gas and Electric | Remortgage Calculator