Suggestions For Joint Account For Bills

roma

Hi
My partner and I are buying our first house and want to open a joint account for mortgage payments/bills. Does anyone have a suggestion of which account/bank would be the best for this? possibly one with good overdraft facilities in case of any shortfalls in our first couple of months when all your first payments are a bit of an unknown!

Thanks

Slayerx

Depends on your credit rating's as to how much of an overdraft the bank will offer, Halifax offered me £1000 to start with and i'm pretty young with an ok credit rating.

I guess it depends what you want to get out of the account too that would help decide which bank to join.

humfer

A&L comes with a £1,000 interest free overdraft for the first year so that maybe of interest to you. Its got a good referral scheme as well which can make you an extra £50

AnW'sMum

Why not open a secondary account where you currently bank. You will have already estabished a track record with them and they are likely to be able to advise you if overdraft facilities would be available and at what amount should you need them.

KerryGold

We use nationwide for our joint account. The Overdraft rates are always reasonable, pay in £1000 p.m. and the interest is also good and you get free transactions abroad using your cards!

K x

margaretclare

I would agree with AnW'sMum above. This is what DH and I did. He'd had bad experiences with joint accounts in previous marriages (the marriage was the cause of the bad experience, not the bank!) Last year I convinced him that we should open a joint account just for the bills. We opened it with his bank RBoS, he'd banked with them for 8 years so they had his track record and it was no problem at all. We're both wrinklies, pensions and annuity incomes only, we both tip into the joint account and all the direct debits go out mostly on the first of each month, the last one is council tax which goes out on the 10th. Peace of mind, saves forgetting, doesn't matter where you are, away on holiday or in hospital, it all happens without your having to do anything about it at all. Great!

Margaret

M_Thomson

humfer wrote:

A&L comes with a £1,000 interest free overdraft

It may have done for you, but this isn't guaranteed.

CopperPlate_2

I've got mine with smile. Had the main spending account with them until recently when I moved to fd for a trial although it great that the transfers between main and the bills account were instant rather than the few days I have to wait now. £500 OD was more than enough - cash clears instantly if you pay it into the account via a Post Office so all I did was ensure my wages went across last from the old account and topped up the new one with cash to cover the immediate bills at the start of the month once I saw the DD's had been moved across.

Works for me, but just my opinion.

CP