In light of the lowering of Icesave rate it is time to review the current state of the savings offerings. I am currently wedged up in the following and looking for the next alternative:

6.9% Northern Rock
6.4% Bradford & Bingley
6.3% Icesave - soon to be 6.05%
6.0% Sainsburys

let me know if I have missed any.

The only other potentials I can see, but don't particularly like either for the reasons listed below, are:
6.55% West Bromwich - may be post only, no online option also 0845 telephone number
6.30% Principality - No option for monthly interest, also 0845 number only.

As far as I know that is the current state of the offerings out there, if anyone knows any others please advise.

Cheers

I have been very impressed with the Principality's online account. Aren't you worried about B&B - one of the biggest BTL lenders in the country. 40 or 50 percent of their mortgages are BTL.

Yep, slightly concerned about B&B but like all these, except treasury backed NR, I am keeping the balance under the magic £35k.

If only Principality did monthly interest, it is much easier to check than yearly. It gets awfully convoluted trying to argue about short interest over a year, much easier and more managable to be able to check their interest calculations every month. You would be surprised the number of banks I have caught out paying a bit short on the interest.

You've pretty much covered the best of the best at present. However I would dump Icesave and replace with a Nationwide fixed int bond with passbook for safety.

Yes but IIRC Nationwide is one of those that I have caught paying incorrect interest in the past, so would only trust them if interest way paid monthly.

Apparently Nationwide are one of the safest financials out there at the moment so maybe sacrifice slightly lower IR for greater safety?

alliance & leicester e saver 6.5%
newcastle building society 6.13%
halifax web saver 6.15%

hope these help.

Yet another 'issue' of Northern Rock's Fixed-rate Access Bond (issue 3) has brought the interest rate down again.

Issue 1 was 6.9%, issue 2 was 6.5%, and issue 3 is 6.35%.

Presumably, this is an indication that NR's plan to refill their coffers is working out well for them?

kaupthing edge 6.5 %

Are these fixed or variable? I know fixed rates have paid generally paid better rates recently but I'd want to keep some variable to manage risk, or at least fixed in accounts with some early access.

You never know when the HPC might deliver you a bargain!

The problem, as farc as I can make out, is that the best fixed rates at the moment are in banks that some consider to be most at risk. B&B have a 6 month bond paying 6.50% till Sept but would you really want a large sum locked away in B&B for 6 months in the current climate?