More Savings Rates Rises

[1User]

Three more of my Building Societies have contacted me informing me of a rates rise:

Manchester Building Society have increased my Easy Save by 0.1%

Newbury Building Society who have increased my Members Account by 0.15%

Only Holmesdale Building Society - who should cease to exist after the end of September - have passed on the full 0.25% (mirroring the 0.25% change in the Bank Base rate.)

1User

[Happybagger]

Newbury squeezing a bit extra from their savers by delaying until 13 Sept. 6 weeks after the base rate change

[planteria]

it is a poor showing from the Building Societies. at the same time, straightforward Instant Access Savings Accounts are not really a good option anywhere in the current market.

[Happybagger]

As santander's current account pays 1.5% (this is not set to rise after the recent rate change) I can't see much of a reason for any instant access account for the majority of people

[planteria]

no, nor can i. i have them, as a bagger, and also because i can take a loan each year which i need to repay in full and don't want to put the funds at risk.. but for most people an Instant Access Savings Account is pointless.

[Happybagger]

Probably interesting to point out the societies that have raised their mortgage rate but not made any changes to ANY savings rates.

Bath BS
Darlington BS
Loughborough BS
Nottingham BS

have all left savings rates completely untouched

Penrith BS only made very small changes, as did Coventry BS

Any others for shaming?

[planteria]

i think it's fair to say that the mutual lenders are not offering very good value to their saving members.

[1User]

Beverley Building Society kindly wrote to me yesterday to let me know they are not increasing the Bonus Rate nor the Basic Rate on my Regular Saver.

1User

[planteria]

but depleted our reserves a little in the process.