Interest on £70000?

heytoki

i have roughly the same amount as you to use as a deposit and dont want to have the money tied up.

So i have 20k in Santander 123 and 40k on premium bonds, 10k in two ISAs at 1.35% and some cash.

jimjames

heytoki wrote: »

i have roughly the same amount as you to use as a deposit and dont want to have the money tied up.

So i have 20k in Santander 123 and 40k on premium bonds, 10k in two ISAs at 1.35% and some cash.

Why have you missed out the 4% and 5% accounts? Far better than 1.35% in ISA.

puk999

If you're going to apply for a mortgage fairly soon then it might be good not to acquire many current accounts (and therefore many credit checks) within a year of your mortgage application.

I don't know what would constitute too many. 5 or fewer and you should be ok at a guess.

heytoki

jimjames wrote: »

Why have you missed out the 4% and 5% accounts? Far better than 1.35% in ISA.

Being honest? cos i have been feeling lazy. But you are right, i should do it while i am waiting to buy a house.

ceredigion

ceredigion wrote: »

70K and no joint account. No chance

TheTracker wrote: »

4.5k @ 5% in Nationwide, TSB
5k @ 4% in Lloyds
41k @ 3% in Santander, BOS, Tesco
19.5k @ 1.35% in any of many (eg Tesco)

My calc's show 2.2%pa net return after BR tax, or £767, minus £14 (6 months plus 1) fee in Santander = £753

I will concede when I made my slightly flippant comment I had not acutely done the maths. You are of course perfectly correct with your assessment. However you are advocating opening nine current accounts plus a saving account, never mind the cross funding requirements and DD,s for six months then followed by a mortgage application . all of which wouldn't be particularly advantageous.