Need some advice on savings...

Bex9993

Hi All, I'm new on here and hoping for some specific advice. We moved house last year so up until that point we were saving towards the costs and then we've been putting most of our savings into doing up the house.
We're now at the point where it's finished so I need some advice about the best place for savings as there are a few different things we need them for.
- Our boiler is likely to need replacing within the next 3 years so instead of being worried when this happens we have saved £2,500 that I want to put somewhere. It needs to be pretty easy to be accessed but it could end up not touched for a few years. We wouldn't be touching it apart from withdrawing it for a boiler. Any ideas?
- We save £300 a month into a first direct regular saver paying 6% per year.
- We want to save an additional £100-£300 a month that can go away and not be accessed. Where is best to do this?
The rest we save so it can be accessed for holidays/car/Xmas etc.
We have no loans just a mortgage.

Skibunny40

You say "we" so I'm assuming there's two of you - if so, you can each have a FD regular saver...that might be the easiest option...

jimjames

The £2500 could easily sit in a Nationwide Flexdirect account paying 5%, instant access as it's a current account. Rate expires after 12 months but who knows what rates will be available then away so decide at that point what to do. Monthly savings can go into regular saver also at 5%.

Cisco001

Have you got other bank account?
If you never had a HSBC or M&S, consider switch to them and bag the bonus. Then, apply for their 5% regular saver.

For your £2500, get nationwide.

xylophone

The Nationwide Flexdirect also offers a 5% regular save into which you can save up to £500 a month.

The Flexdirect requires £1000 a month credit from a non-Nationwide source but this can be in and out on the same day/come from multiple sources etc.