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Flossy273

Hi guys,
I already have a mini cash ISA so am now looking at regular savings accounts. Given that I am saving for a deposit on a house, do I go with a standard regular savings account, or one provided by a building society that could then be transferred into a mortgage, such as the Britannia home-saver which offers 6% on savings up to a maximum of £50000. THere are penalties for not taking up the mortgage, so is it worth tying myself down this soon?

ReportInvestor

Ho Flossy and welcome to the site .

This answer to your question is simple.

"No."

You need to find the best value mortgage when you are ready.

And anyway there are 7% regular savers available like Halifax for £250pm and others at over 5% if you can be bothered to set up a few.

Scarborough BS - 6% - up to £250 pm
Principality BS - 6% Fixed (although this is a one year bond) - up to £500pm.

How much can you save per month?

The Britannia scheme is a throwback to the "bad old days" when you might get an interview with a BS as long as you could prove your savings record with them.

And not, even then if you were a woman :mad: .