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xylophone

If that doesn't appeal, have a read around the forum for more ideas

https://forums.moneysavingexpert.com/discussion/5548670 post 5


https://forums.moneysavingexpert.com/discussion/comment/71492917#Comment_71492917 post 57

hammyham

Hello, I was just looking for some advice. Thank you in advance for any help

Me and my partner are saving for a mortgage whilst we are in out last year of training (me nursing, him teaching) - and my dad very kindly lets us live in his spare room so everything (pretty much) can go into savings.

We each have a help to buy ISA, and I have another ISA, with approx 8.5k but the rates on my ISA aren't great. I have another two bank accounts I use.

He has just inherited 8k and has two bank accounts.

Are better off going for switching accounts for switching bonuses, or going for an account with higher interest rates? Sorry if this sounds really daft, I'm just struggling to work it out myself.

We're looking to (hopefully!) buy a home in approx 18 months, so a bit worried about switching and the impact of credit ratings as well.

Many thanks again

Tragen

hammyham wrote: »

Are better off going for switching accounts for switching bonuses, or going for an account with higher interest rates? Sorry if this sounds really daft, I'm just struggling to work it out myself.

Why "or"? do both!

dkdkdk

Hi all

Hope this is the right forum to ask this on!

I tried switching to HSBC to get the £150 deal they had on til the 31st of October.

Filled in all my details online, DEFINITELY on HSBC's website as I went through the link on MSE, had my application accepted and the screen said :

'Thanks for your application, we'll be in touch regarding your switch'.

Since then, no contact from them and after going into a branch today I found out my application doesn't exist!

Anybody else heard of this issue?

Cheers

TheShape

dkdkdk wrote: »

Hi all

Hope this is the right forum to ask this on!

I tried switching to HSBC to get the £150 deal they had on til the 31st of October.

Filled in all my details online, DEFINITELY on HSBC's website as I went through the link on MSE, had my application accepted and the screen said :

'Thanks for your application, we'll be in touch regarding your switch'.

Since then, no contact from them and after going into a branch today I found out my application doesn't exist!

Anybody else heard of this issue?

Cheers

I made an application last Sunday 30th, had same response online and have heard nothing yet.

hammyham

Tragen wrote: »

Why "or"? do both!

Thank you - you can tell I'm new to this! So if I've set up 2 DD's (one of the charity ones won't go out until the 1st) then switch that account to First Direct for the £100 bonus.

Make 3 accounts - then switch them to;

Nationwide flex direct (2.5k, interest 5k) - switch out £1k every month
Bank of scot - 3% of 5k - switch out 1K every month and 2 dd
TSB - 3% on 1.5k and 5% cashback on £100 - switch out £500 every month

And then switch £1000 in a circular way.

Or is there an easier way to do this, and am I just making this overly complicated?

Many thanks

YorkshireBoy

hammyham wrote: »

Thank you - you can tell I'm new to this! So if I've set up 2 DD's (one of the charity ones won't go out until the 1st) then switch that account to First Direct for the £100 bonus.

Make 3 accounts - then switch them to;

Nationwide flex direct (2.5k, interest 5k) - switch out £1k every month
Bank of scot - 3% of 5k - switch out 1K every month and 2 dd
TSB - 3% on 1.5k and 5% cashback on £100 - switch out £500 every month

And then switch £1000 in a circular way.

Or is there an easier way to do this, and am I just making this overly complicated?

Many thanks

You don't need to switch to Nationwide, but you SHOULD do via their RAF offer for £100.


You don't need to switch to BoS for the interest rate.


The TSB incentive expires on 11th December, so you should prioritise that one.

hammyham

YorkshireBoy wrote: »

You don't need to switch to Nationwide, but you SHOULD do via their RAF offer for £100.


You don't need to switch to BoS for the interest rate.


The TSB incentive expires on 11th December, so you should prioritise that one.

Thank you so much!

So if I do a straight swap with the other account I've got, to TSB now.

Make a BoS account as I don't need to switch.

And with the Nationwide one, should I not switch but instead be referred?

So sorry for all the questions, and thanks again for your help

YorkshireBoy

hammyham wrote: »

Thank you so much!

So if I do a straight swap with the other account I've got, to TSB now.

Make a BoS account as I don't need to switch.

And with the Nationwide one, should I not switch but instead be referred?

So sorry for all the questions, and thanks again for your help

Be sure you've the requisite DDs in place before initiating the TSB switch.

Yes to BoS.

Re Nationwide you'd be referred for opening the account and then initiate the switch.

hammyham

YorkshireBoy wrote: »

Be sure you've the requisite DDs in place before initiating the TSB switch.

Yes to BoS.

Re Nationwide you'd be referred for opening the account and then initiate the switch.

Brilliant - I'm starting to get my head around this now! I can't thank you enough!

I'll open BoS tonight, and have found the referral board for the Nationwide - I've opened 2 DD's which won't come out till the first - do you reckon that's too late for the 11th for the TSB? If so, I'm thinking of maybe opening a Health Lotto and Lottery account and cancelling when the charity one goes out? I cannot think of any other DD's for the life of me.

Thanks again, and so sorry for all of the questions