Best savings account

JanetTee76 · 2 December 2017 at 10:24PM

Hi,
First time poster here!
My boyfriend and I are saving for our first house, we currently have 10000 put away, i’ve noticed we are only gaining roughly 5-6pence per month interest on this and wondering if anyone has any guidance on where we can get the most for our savings?
None of our relatives own their own homes so we are stuck with who we can ask...

Thanks in advance 🙃

EachPenny · 2 December 2017 at 10:39PM

Welcome to the forum

There's lots of information on the forum about the best types of accounts and which currently offer the best deal. But one of the most important things is what kind of timescale are you looking at for buying your home? Different options will make more sense depending on how many months/years you think you will be saving for.

Vortigern · 2 December 2017 at 10:45PM

JanetTee76 wrote: »

My boyfriend and I are saving for our first house...

Help-to-buy ISA or LISA would be worth investigating for first time buyers. Possibly get one each?

JanetTee76 · 2 December 2017 at 10:47PM

Thank-you
I have been having a look around, amazing info on here, wish i had found it sooner!

We are hoping to buy next year -after april as this is when he will have 3 years SA302s.
But that can be postponed if we’re not seen to have a sizeable enough deposit.
One things for sure we dont want to be ‘house poor’

:j

JanetTee76 · 2 December 2017 at 10:50PM

I’ll look into both of these, thank you.

badger09 · 3 December 2017 at 12:45PM

Have you read this?

https://www.moneysavingexpert.com/savings/which-saving-account

CavendishWobble · 3 December 2017 at 1:32PM

HTB & LISA are great choices if you are 100% sure you will buy. However if you are looking at April next year, remember you need to have held the LISA for at least a year before buying. Might be worth putting some money into a LISA now to help start that clock.

Best savings account

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free