Regular Savings, No Access

surkdidat

Hi all

This is my first visit to the forums, and looking for advice please.

I am looking to save about £200-£250 per month, for a period between 2-4 years. I do not have a lump sum to start with, (so bonds are probably out of the question??) but do not want to have any access to it for this period of time.

Any advise please, much appreciated

psychic_teabag

If you are under 35 and have never owned a house, santander have a first-home-saver which is a regular savings account paying 5%. Despite the name, you don't have to use the money to buy a house. It has access in the sense that you can close the account at any time, but you can't dip into it. But many here advise staying away from Santander.

There are a few other regular savings accounts at the moment, but they tend to mature after a year, so you'd have to move the money somewhere and start again. http://www.moneysavingexpert.com/savings/best-regular-savings-accounts

surkdidat

psychic_teabag wrote: »

If you are under 35 and have never owned a house, santander have a first-home-saver which is a regular savings account paying 5%. Despite the name, you don't have to use the money to buy a house. It has access in the sense that you can close the account at any time, but you can't dip into it. But many here advise staying away from Santander.

There are a few other regular savings accounts at the moment, but they tend to mature after a year, so you'd have to move the money somewhere and start again.

Many thanks, whats the issue people have with Santender? I have never banked with them at all, so am now wary of why people avoid them!

xrjtg

I have the First Home Saver and haven't had any problems with them.

Lokolo

Santander's customer service is appaling. Although that's from what people say on here, I've never done business with them.

Loughton_Monkey

surkdidat wrote: »

Many thanks, whats the issue people have with Santender? I have never banked with them at all, so am now wary of why people avoid them!

It's because of their appalling service.

However, I admit to using them. They seem to have to offer some of the most competitive products and if you stick to basic things, and are big and ugly enough (like me) to fight your corner if/when things go wrong, then there is no problem.

The very last thing I would do is trust them to be my 'main' banker.

But I have some instant access stuff in their e-Saver 3 at 2.9%.