ISA or First Home buyer ?

Mishomeister

I am just looking for a new home of my £5000 ISA as HSBC pays absolutely rubbish rate. I have looked at Halifax ISA at 3% but would need to wait until 6 April before could do the transfer as I have already used part of this years allowance with HSBC.

Alternatively I am considering Santander's fFrst home saver account which pays 4% after tax. It is not as flexible as ISA but that would be fine with me as well as puting some money into it every month.

I would benefit of 1% extra a year,but now I have to consider the ISA allowance for this year I would lose as per withdrawing money from current year ISA.

So whtat do you thing is more importand in my case keep the money in ISA and expect base rate to go up and for ISA's to do the same or not to bother about ISA allowance and go for a best rate ?

opinions4u

Mishomeister wrote: »

I am just looking for a new home of my £5000 ISA as HSBC pays absolutely rubbish rate. I have looked at Halifax ISA at 3% but would need to wait until 6 April before could do the transfer as I have already used part of this years allowance with HSBC.

You can open a Halifax ISA, fund with nothing and get them to transfer your HSBC ISA immediately. Ignore the message on the online Halifax account opening system that implies you need to fund before you transfer. It's wrong.

Alternatively I am considering Santander's fFrst home saver account which pays 4% after tax. It is not as flexible as ISA but that would be fine with me as well as puting some money into it every month.

But it is with Santander and doesn't provide the longevity of tax free benefits that cash ISAs do.

Avoiding Santander would be my starting point.

Mishomeister

opinions4u wrote: »

Y
But it is with Santander and doesn't provide the longevity of tax free benefits that cash ISAs do.

I am saving for a house depotit so all ISA's would be withdrawn at the point, I have saved enough