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Mortgage Deposit Savings
Anafrac
Posts: 8 Forumite
Hello 
I'm after a little advice on savings for a deposit on a house. All my savings are currently in Nationwide. I have £24k in an older issue ISA at 3.10% which lasts till Oct 2013 I believe (which is great considering current interest rates) But I do have £10k in a e-savings plus, currently at 2.00% gross.
I basically wanted to know, if I started moving the money from my e-savings plus to say, a couple Lloyds vantage accounts and cycled the 1k a month to get the 3% interest rate. Would it affect trying to get a mortgage from NW ? I remember reading somewhere, not sure how true it is, about banks / BS liking deposit money being with them for sometime ?
I'm still currently saving for my deposit, I plan to have about £50k in total. So I shall still be saving for 1 or 2 more years yet.
Thanks
I'm after a little advice on savings for a deposit on a house. All my savings are currently in Nationwide. I have £24k in an older issue ISA at 3.10% which lasts till Oct 2013 I believe (which is great considering current interest rates) But I do have £10k in a e-savings plus, currently at 2.00% gross.
I basically wanted to know, if I started moving the money from my e-savings plus to say, a couple Lloyds vantage accounts and cycled the 1k a month to get the 3% interest rate. Would it affect trying to get a mortgage from NW ? I remember reading somewhere, not sure how true it is, about banks / BS liking deposit money being with them for sometime ?
I'm still currently saving for my deposit, I plan to have about £50k in total. So I shall still be saving for 1 or 2 more years yet.
Thanks
0
Comments
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No difference whatsoever.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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