'Converted' Cash ISA to Help to Buy ISA... where can I save the rest?

[Deleted User]

Hey!

Just been down to Nationwide. I've switched my Cash ISA from First Direct to them and then, once that is done, they will convert this in to a Help to Buy ISA.

My question is: what do I do with the rest? I can deposit £200 in to this a month, £300 in to my savings with First Direct at 6% interest but I have nowhere to put any more, should I be so lucky.

Would it be possible for me to, once this is all completed, open another Cash ISA before April? MSE made it seem as though the Nationwide 'conversion' would consist of a Cash and Help to Buy ISA.

Cheers!

jimjames

Any reason why you've chosen Nationwide rather than the best rate of 4% with Halifax?


Beyond that if you need more then current accounts and regular savers offer the best rates.

[Deleted User]

I chose Nationwide thinking it would be possible to have a Help to Buy and a Cash ISA as per the article here: http://www.moneysavingexpert.com/savings/help-to-buy-ISA#nationwide

xylophone

But more interest would be available in current accounts than in the ISA - don't forget next tax year's saving allowance.

http://www.moneysavingexpert.com/savings/personal-savings-allowance

[Deleted User]

But I'm keeping my First Direct current account for the 6% saver...

bigadaj

Deleted_User wrote: »

But I'm keeping my First Direct current account for the 6% saver...

You can have more than one current account, I've got ten and many people on here have several more than me.

jimjames

Deleted_User wrote: »

I chose Nationwide thinking it would be possible to have a Help to Buy and a Cash ISA as per the article here: http://www.moneysavingexpert.com/savings/help-to-buy-ISA#nationwide

You can, but it's pretty pointless when it means you get a worse rate of interest

[Deleted User]

jimjames wrote: »

You can, but it's pretty pointless when it means you get a worse rate of interest

Thanks for your feedback, gents.

I cancelled the move to Nationwide and I've switched my Cash ISA to a Help to Buy ISA with Halifax. I'll also be keeping the 6% Regular Saver with First Direct.

Any ideas where I can save anything additionally? Or in 12 months time when my Regular Saver pays out, where should I stick that? I've been looking at the RCI Bank saver & also the Lloyds current account but I'm uncertain. In a year I'll have £3700+ to save.

xylophone

A couple of Tesco current accounts?

[Deleted User]

xylophone wrote: »

A couple of Tesco current accounts?

That's not a bad idea. Plus, no SOs to play around with! :beer:

colsten

xylophone wrote: »

A couple of Tesco current accounts?

There are 2 fabulous 5% Monthly Savers at TSB and at Nationwide. I would use those, and the pre-req current accounts, for the next 12 months at least, before I'd settle for a mere 3%.