Best account for £2k per month income

mudskippa

Hi,
I'd be really grateful for some input here. I'm looking to see if I could get a better deal than I have.

I am running a houseshare - I collect rent from other tenants then pay the collective rent out from my account to the landlord. I take in £2,000 a month in rent from my tenants then pay out £2,200 to my landlord.

I have been using a 0% HSBC account to do this. Is there any way to benefit from the £2k I get every month, given that I need to transfer the money out again so it won't be 'saved'. I do not want to pay any fees. I never go overdrawn and can guarantee I get this amount every month. I'm not working at the moment either is that makes a difference (off sick).

Any input would be great, thanks.

MasterPJ

Pay by credit card - giving you a month interest perhaps? (If thats possible)

mudskippa

Hya,
Thanks for replying PJ. But I can't pay by credit card - I have to have a standing order. Anyway I won't go near credit cards! Never had one, never will

MasterPJ

Maybe ask the tenants for a month in advance rent? If someone does not pay up a month it appears they could really do a number on you

*This might not be an option though.

mudskippa

Yeah I already do this. I was really looking for some way to get a better overall interest account by putting in £2k per month (even if I withhdraw it a few days later). I already have an account with Alliance and Leicester where you have to pay in £500pm and get 1% interest, so I always transfer £500 of my rent income into that so that I get the 1% on whatever money I have in there in addition. Anything like this that gives a preferential rate because you're paying in £2k pm?

Radish72

Try Halifax

They will give you £5 month for paying £1000 in (it doesn't have to stay in for the month) and there might be an offer on for new customer, £50 for opening the account

mudskippa

Thanks Radish that sounds great. I'll google for a new customer offer