Best Current Account?

Jo_Mack

Hi guys, appologies if this is a repeat thread but i don't have the patience to look through 171 pages to see!

After long discussions the OH and I have remortgaged the house to pay off the loans and Credit Cards. This has freed up about £550 per month after all the DD's and spending money for each of us has been taken into account.

We are now looking for a current account to put this free money in each month. I say current account 'cos you never know when you need to dip into it and i'd like to just be able to go to a cash machine and get it out, no hassles. Plus we have the option every month to over pay the mortgage back by £2k - obviously can't every month but would like to do it say 4 times a year with the money in this would be account.

So - who knows/can point me in the right direction for the best Interest Rates for money in the account?

Cheers Guys:beer:

Cannon_Fodder

If your Mortgage calculates interest on a daily basis then overpaying by £500 each month is better than keeping it in a current account then overpaying £2000 after 4 months worth has accumulated.

I think it would be a good idea to develop the habit of overpaying £500 each month, this might even lead to greater money-saving habits. You could simply not overpay in any month when you found you needed the cash for more pressing matters...but habit is the key, because if you expect not to have that cash each month, you'll subconsciously cope with unexpected bills...maybe!