Saving for mortgage

shandy1

Yeah that's what I meant, she's just reluctant to open new accounts so just uses her staff one at the moment. To be fair I was asking her to do it in the midst of our wedding planning so she might be more lenient now to do so, now the wedding is done!

chris9393

If you're looking to switch bank accounts to get the switch incentive I'd highly recommend switching over to FirstDirect. They offer £100 switch incentive + a 6% regular savings account which beats all other regular savers.

Just to let you know though the maximum you can save in the 6% regular saver is £300 p/m and you can't withdraw for 12 months otherwise you'll lose your interest. This will however be perfect if your trying to save for a house deposit.

colsten

chris9393 wrote: »

If you're looking to switch bank accounts to get the switch incentive I'd highly recommend switching over to FirstDirect.

OP already has an FD account.

The FD Regular save, alongside similar ones (see earlier post), is ace if you can commit the money for 12 months.

shandy1

Just another thing regarding interest, as TSB only pays interest up to £2000 am I best to leave £1500 in it and then cycle the £500 through so it is at £2000 when the interest is paid, or keep it at £2000? So when I transfer the money it'll be £2500 in it?
I think I'm confusing myself.....

Aretnap

Interest is calculated daily on the TSB account so it makes very little difference whether you pay in £500 then take it out, or take it out then pay it in. I have £2000 in it for 29 days of the month, and 2 standing orders set to pay in/send out on the same day of each month - seems to work fine.