Where to put my money

LPES

Hi

I have £30k that I am looking to put away for 1 yr and then will look to get a mortgage.

please please can someone advise me whats the best option for me and my partner to do??

YorkshireBoy

Well the "best option" in terms of return will be in current accounts:

3 TSB Plus accounts (2 sole and a joint), giving 5% AER on £6K
3 Nationwide accounts (2 sole and a joint), giving 5% AER on £7.5K
3 Club Lloyds accounts (2 sole and a joint), giving 4% AER on £15K
1 Tesco account, giving 3% AER on the remaining £1.5K

Whether you want to go to all that 'trouble' (you'll see what I mean when you research further) for a year is down to you.

Some further reading...

www.bankaccountsavings.co.uk


The above ignores the small additional interest that could be gained from drip-feeding 6% AER regular savers from the current accounts (because that would mean another 6 accounts).

LPES

Thank you for that my friend, tell me would you bother with a stocks & shares ISA considering I only want to save for a year???

ChesterDog

Definitely not anything stock market related for such a short period.