Halifax Savings

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northants

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New user here, can I ask the 'gurus' at AAM what they think of this account, seems to be too good to be true when compared with Rabo or Northern Rock as it is offering 6.5%. What's the catch??
 
Welcome northants.
Try doing a search - loads of info about Halifax/Bank of Scotland v rabo/Northern Rock.
Basically there is a lot more flexibility with rabo and Northern rock than Halifax.
Also look at financial best buys,
 
northants said:
New user here, can I ask the 'gurus' at AAM what they think of this account, seems to be too good to be true when compared with Rabo or Northern Rock as it is offering 6.5%. What's the catch??
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Rabo and Northern rock are straight deposit accounts...put your money in, it's there on demand and you earn interest.
This Halifax accoont, much like the BOI or AIB offerings is for regular amounts. There may be penalties if you try and withdraw money or try and alter the amount or frequency of your saving.
It's a question of flexibility and time.
 
Thanks for the information everyone. I have some money from an inheritance to invest and I am trying to work out the best option for the longer term. I am a bit nervous of property investment given the current situation, but I guess nervous investors don't make much money!
 
northants said:
I am a bit nervous of property investment
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Why consider only property or deposits? There are other options out there. Your goal should most likely be to build a diversified portfolio that matches your short/medium/long term needs.
 
Thanks for the advice ClubMan, are you talking about shares as well as savings and investments. I will have a decent amount of cash, and the temptation is to pay off the mortgage and play safe, but I want to take a longer term view of things.
 
Shares (direct or indirect investments) would be one other possible investment vehicle alright.
 
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