Advice sought re high interest accounts

[daviejones]

A&L are doing a good rate on their E Account at the mo...

[AtW]

Wow, watching Neighbours till 3am....

Yes, the young lady across the street thinks everyone is asleep at that time

[rootsnall]

No worries, sold house end of last year and moved into rented so had to open a few accounts Bring on the crash!

I had that plan and sat back in 2005 confident of the big crash but the sods saved the day with even lower interest rates. Ended up with two and a half houses somehow or other at just the wrong time but fingers crossed it will be down to 1 and a half again sometime this week. Had three sales fall through in the past three months, two due to redundancies of the buyers. I'd be very confident if I was you but I think you'll be waiting a few years to make that killing. Just opened ICIC and B&B in anticipation of a wad coming my way !

[NoddY]

Why save money in a depreciating currency? 0% in a Euro account is better than 10% in a Sterling account.

[AtW]

Why save money in a depreciating currency? 0% in a Euro account is better than 10% in a Sterling account.

What about 2%+ convesion cost each way? And currency fluctuations?

[rootsnall]

Why save money in a depreciating currency? 0% in a Euro account is better than 10% in a Sterling account.

I think the Euro has had its good run, a few articles starting to appear that the problems in Euroland may well be worse than UK and the US. 50/50 which way the sterling v euro exchange rate will go.

[ferret]

I had that plan and sat back in 2005 confident of the big crash but the sods saved the day with even lower interest rates. Ended up with two and a half houses somehow or other at just the wrong time but fingers crossed it will be down to 1 and a half again sometime this week. Had three sales fall through in the past three months, two due to redundancies of the buyers. I'd be very confident if I was you but I think you'll be waiting a few years to make that killing. Just opened ICIC and B&B in anticipation of a wad coming my way !

Yeah, I know what you mean. There is every possibility they could just keep on rising. Was more that we could not find a house we liked to buy and with 2nd kiddie on the way needed more room one way or the other. With the new baby due in June I can't see us wanting to move for at least 18 months so happy to hold on for a year or two.

Hope the sale goes through OK for you roots, two potential buyers getting made redundant is scary stuff! Mad when you consider the government spin shows that employment is booming!

Why save money in a depreciating currency? 0% in a Euro account is better than 10% in a Sterling account.

6-6.5% interest on sterling is hopefully going to be better than the small rises in house prices (fingers crossed massive falls) - the interest on the money we made on the house we sold is paying our rent at the minute so, while I understand we are standing still, I am happy to sit back and watch for the minute. Yes, if interest rates fall we will be getting less money back in interest, but had we held on and prices do fall over the next couple of years we will have done OK.

Was a pain in the arse opening the accounts and sorting the house out, let alone thinking about shoving into a different currency, will leave that for those smarter than me...

[tim123]

I think the Euro has had its good run, a few articles starting to appear that the problems in Euroland may well be worse than UK and the US. 50/50 which way the sterling v euro exchange rate will go.

Yep, The Euro's only done well in the last two months because the ECB has refused to acknowledge that the next interest rate movement is down. Sooner or later, they will have to do that.

tim

[tim123]

Yeah, I know what you mean. There is every possibility they could just keep on rising.

No there isn't, there is a tiny possibility of that happening.

tim

[ferret]

No there isn't, there is a tiny possibility of that happening.

tim

Just trying to cheer up those that have bought a house recently