How to save £60k

Careful_ly

Your Lloyds interest looks wrong to me £5000 x 4% - tax should be £13ish.


Are you aware there is a new regular saver from TSB pays 5% on £250 deposit per month, and is instant access for when you need for your purchase.

colsten

Thanks for the clarification. I am still intrigued. How did you manage to get accepted for 6 BOS Vantage accounts? How come not all 6 show in both, your Halifax and BOS online banking? Did you apply with different names and/or addresses?

Prof_FrinkProf wrote: »

Sorry, yes a couple of typos there. I actually have six BOS Vantage accounts, three of which show on my Halifax Online Banking so I access them through that when I access my Reward account. I then have another three on a seperate BOS online banking account.

Amended:

Santander £16,500 - £29.19 (after £2 fee)
Halifax Reward £0 - £5.00
BOS Vantage 1 £5,000.00 - £9.73
BOS Vantage 2 £5,000.00 - £9.73
BOS Vantage 3 £5,000.00 - £9.73
BOS Vantage 4 £5,000.00 - £9.73
BOS Vantage 5 £5,000.00 - £9.73
BOS Vantage 6 £5,000.00 - £9.73
Club Lloyds Current Acc £5,000.00 - £9.92
TSB Plus 1 £2,000.00 - £6.44
TSB Plus 2 £2,000.00 - £6.44
Nationwide Flex £2,500.00 - £9.73

Prof_FrinkProf

Broken_Biscuits wrote: »

Any possibility of keeping your job/career type and moving cities? 60k deposit would be more than enough in most areas of the uk as a deposit.

cheers for the detailed updates on current accounts. I know whats available, just never seen it written down before with returns et al

Afraid not, I'm happy where I am both locality and career.

mvarrier wrote: »

With the Santander123 account you can also get the credit card. This allows 0% on 5k spending for 23 months. I'm currently stoozing on this, and earning £8 cashback/month and the £2/month fee is waived for the first year

I have that credit card and stoozed for a few months but decided to pay it off. What are you getting the cash back on? Thanks for the tip, I may start this again.

LplateSaver wrote: »

I'm on a similar wage to what you were previously. How long did it take you to save 60k?

If you include the ISA and Club Lloyds Saver I actually have just over £71k. I'm fortunate to have received £28k inheritance and the remaining took me around 4-5 years to save. I've never saved that hard really, life is too short to miss out on opportunities.

Careful_ly wrote: »

Your Lloyds interest looks wrong to me £5000 x 4% - tax should be £13ish.

Are you aware there is a new regular saver from TSB pays 5% on £250 deposit per month, and is instant access for when you need for your purchase.

Thanks for the tip, I'll take a look at the TSB saver.

colsten wrote: »

Thanks for the clarification. I am still intrigued. How did you manage to get accepted for 6 BOS Vantage accounts? How come not all 6 show in both, your Halifax and BOS online banking? Did you apply with different names and/or addresses?

I didn't know, but they are obviously recognizing me as two different people. I'm not complaining, especially as my three Lloyds vantage accounts were taken away!

Little update, I've applied for the Tesco current account which pays 3% up to £3,000 and the £5 monthly fee is wavered if you pay in a£750 per month. That leaves me with just £7,000 in my Santander ISA to allocate somewhere.

Prof_FrinkProf

TSB Monthly Saver now active with a £250 monthly standing order set up. :j

anoncol

Have you not bought a house yet? This thread is years old!

Prof_FrinkProf

Just over a year old actually. What's the rush anyhow? I'd rather have the biggest deposit possible

colsten

Prof_FrinkProf wrote: »

Just over a year old actually. What's the rush anyhow? I'd rather have the biggest deposit possible

Does your deposit grow faster than house prices?

Eco_Miser

Prof_FrinkProf wrote: »

Just over a year old actually. What's the rush anyhow? I'd rather have the biggest deposit possible

That's 100% down and nothing more to pay. Very nice, but meanwhile you're paying rent instead of building up equity in your home.

Prof_FrinkProf

colsten wrote: »

Does your deposit grow faster than house prices?

No, but I'm not willing to purchase a house that I don't like.

Eco_Miser wrote: »

That's 100% down and nothing more to pay. Very nice, but meanwhile you're paying rent instead of building up equity in your home.

Who said I was paying rent? I live with one of my parents.

Prof_FrinkProf

Does anyone have any advice on where I could save the remaining £8k please? Looking for 3% interest and above ideally

Thanks