Best place to save for a property deposit?

dave76

I have a stash of 4600 which I am going to use as the basis for a deposit on a home. Thing is I have no firm plans just yet on when I am going to buy - probably not for another 6 months but you never know what might crop up before then. So I want to put this cash somewhere safe that will earn a bit of money (well, as much as possible obviously ) and that I can add to each month (hopefully!), but also somewhere I can get it out reasonably quickly (so I dont want it tied for for a year or longer). Any suggestions?

:edit: p.s. I havent used any of my ISA allowance if that makes any difference to the replies

cheers
Dave.

Darryl

I'd save £3k of it in a top-interest paying mini cash ISA with instant (or minimal notice) access. The other £1.6k I'd put into a top-interest paying savings account (again no/minimial notice period for withdrawals).

Martin's best mini-cash ISA article:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1077487692,12362,

Martin's instant access savings article:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1098730527,15721,

HTH

Darryl.

Number_6_3

If you have an idea of who you would be borrowing off of it might be worth investigating to see if they have any special accounts.

For instance Britannia do an account called a home saver. 6.05% aer interest Home saver Free standard valuation, I seem to remember free unemployment cover and gives you membership rights with the Britannia. Downside is if you don't take out a mortgage with them is all other withdrawals are subject to a 90 day loss of interest penalty.

Might be worth a gamble for £250...

R