Best place for £17k to earn interest for me?

lanceuppercut

A bit of background, I'm looking to buy a house this year so being accepted for the best mortgage I can get, is in my best interests, though this isn't going to happen realistically for another 3-6 months.

I currently have two TSB accounts both with £2k in each (which I cycle money between them for about £3/month perks) and £13k sitting in a Halifax ISA.

My main account where all my direct debits is with Natwest, though I am currently using their basic account, not the one with rewards as I don't have the bills that deem it necessary for that type of account yet.

What's my best options from getting the most from my money given that in possibly half a year, those savings might be gone as I'll need it to put down for a deposit for a house.

Will opening new accounts hurt my desirability for mortgages? If it is, I'd rather stick and not risk it.

The problem with some of the accounts is the direct debits I need to keep going each month, however First Direct (upfront so won't matter when I use my savings) and Nationwide are tempting in their own ways (higher overall gain, but assumes I need the full £2.5k in there for the year, which might not happen).

[Deleted User]

The savings board would be a better place to ask. But opening savings accounts won't worry future lenders.

lanceuppercut

Oops didn't know what section to best put it in, apologies. Any idea if it's possible for a mod to move this post to the correct section?

The FD and Nationwide account would be current accounts, not savings accounts as I don't foresee me having this money in my account long term.

When opening a new current account to transfer an existing account into, how long am I "affected" in terms of influencing future lenders descisions?

[Deleted User]

It's down to the lender and your credit files. Most won't bat an eyelid at a new account on a well managed file. Others may prefer more stability, especially if your history looks flakey.

I wouldn't lose any sleep over it.

lanceuppercut

Out of interest, what's loosely defined as flakey?

Had a stable job for 10+ years, fully out of debt for maybe the last 5 (credit card debt) with things like my credit cards being paid off in full each month, never gone overdrawn on my current account etc and have things like mobile bills and car insurance/tax etc going out on a regular basis.

[Deleted User]

All sounds pretty non flakey

lanceuppercut

Thanks, will look into some options for moving the TSB accounts to different providers.

System

For half a year it doesn't matter a toss. The amount of difference in interest will be in the low £10s.

If this is your first house then if you've not got a LISA open one now and put the maximum you can in RiGHT NOW TODAY because the deadline is only a couple of weeks away and then put the maximum you can again after April 6th. You'll then get a free £2000 in total from the government towards your deposit.

lanceuppercut

Tarambor wrote: »

For half a year it doesn't matter a toss. The amount of difference in interest will be in the low £10s.

If this is your first house then if you've not got a LISA open one now and put the maximum you can in RiGHT NOW TODAY because the deadline is only a couple of weeks away and then put the maximum you can again after April 6th. You'll then get a free £2000 in total from the government towards your deposit.

It's not my first home but I will be wanting to buy with my girlfriend and for her, it will be her "first house" that she owns, does this LISA apply and also, what is it?

System

https://www.moneysavingexpert.com/savings/lifetime-ISAs

lanceuppercut

Tarambor wrote: »

https://www.moneysavingexpert.com/savings/lifetime-ISAs

Ah, I need to have a LISA open for a year it seems, that kind of rules me out as we're looking to buy within the next 12 months