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Saving for 1st home
itsD
Posts: 17 Forumite
Hi all,
We're looking for some suggestions on how best to save/invest around £20k which we're planning on putting towards a deposit for our first home in the not-so-distant future (18 months).
Have been looking at fixed accounts, but was wondering if there is anything that will get a better return?
Thanks in advance
We're looking for some suggestions on how best to save/invest around £20k which we're planning on putting towards a deposit for our first home in the not-so-distant future (18 months).
Have been looking at fixed accounts, but was wondering if there is anything that will get a better return?
Thanks in advance
0
Comments
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18 months is too short a-time frame for investments really, if you went for investments over that sort of period it would be a bit of a punt. Nothing wrong with that, but its little more than researched gambling.
Maximise your ISA allowances thats £5640 each before 5th April.
There is not much incentive to go for fixed rates so put the rest into an easy access savings account and maximuse your ISAs again in the new tax year.
That's 20k accounted for.0 -
Thanks ses6jwg
Do you have any suggestions for any other money we'll save (around £800/month)? I'm guessing just put it in the easy access savings account?0 -
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Why don't you do a little research first and see what you can find yourself? A lot more satisfying than going to a forum and asking us to make the decision for you from scratch.0
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There are more than enough (relatively) high interest regular savers to take care of £800 a month.Thinking critically since 1996....0
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