Saving up for a deposit, anyone want to join me?

jak

Hiya I'm finally in a position to start saving up for a house deposit! Yay! I did see a thread where people were supporting each other but cant find it! I'm planning to save £500 pcm and I need at least £18500! So far I've got £750 in an isa and £750 in my instant savings for my rental house move coming up in Sept.
I'm also learning to drive and need to save up for a car, so my plan is to put £500 towards the house deposit pcm then anything else can go to the instant savings to cover car/move etc. Can anyone point me towards the savings thread? Or want to join me in this one? J x

ColdIron

This could be the one you are looking for

https://forums.moneysavingexpert.com/discussion/5122817

jak

Brilliant thanks x

jimjames

With those sorts of amounts and the timescales you've mentioned, a cash ISA is pointless if you want the best return.


You'll get 5% in current accounts which is way more than those offer. You can also get up to 6% with regular savers for your monthly sums.

jak

Brilliant thanks. I'll look into it. Can't get a current account at the mo as I'm discharged bankrupt but could do reg saver x

colsten

jak wrote: »

Brilliant thanks. I'll look into it. Can't get a current account at the mo as I'm discharged bankrupt but could do reg saver x

Sorry to disappoint you then - 5% and 6% Regular savings accounts all require a current account as a pre-requisite. KRBS offer a standalone 4% Regular Saver which is great if you have access to one of their Branches as it is a Branch only account.