Best saving accounts

soupy600

Best saving accounts

So I'm looking to gather up enough money to get back kn the property ladder and was wondering what's the best account to have. I plan to hopefully buy within the next months to a year t
So want access to my money.

I have my savings spoly up into the following accounts
Nationwide
Flex direct £2500(max'd) @ 5% for the first year
Flex regular saver @5% (250p/m)
Loyalty ISA @ 0.95%
Help to buy ISA @2.5% (200p/m)

I have the flex direct maxed out at the total £2500 and put the month allowance into the saver and Help to buy ISA and if there anything left it goes into the Loyalty ISA.

I know it my not be much but every little helps and was wondering is there better accounts I could have my money in? I don't really want to swap/change banks totally with wanting to buy a property soon. Any help would be grateful

eskbanker

That Loyalty ISA rate of 0.95% is pretty derisory and easily beaten, for better options see https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

PRAISETHESUN

As above, plenty of accounts pay better than 0.95% so to maximise your interest you should pick one. Marcus is a commonly recommended one, however the link above also has a few other good options. In light of the fact you are looking to get a mortgage I'd probably limit the amount of current accounts you open, since the hard credit searches may influence your ability to get a mortgage however you should be fine opening any savings accounts you want.

soupy600

Seen one with my bank account for 3% for kids could always open one for my son and use that lol

eskbanker

soupy600 wrote: »

Seen one with my bank account for 3% for kids could always open one for my son and use that lol

Not sure if you're being serious or not but using children's accounts to hold money that you have no intention of gifting to them isn't generally recommended.

Just reading your OP again, I hadn't picked up on your reference to "get back kn the property ladder" - if you've previously been on the property ladder then you wouldn't be eligible for a HTB ISA....

Edit: you already knew this!

soupy600 wrote: »

Help to by ISA £1800 (which I need to close as I've own before)

soupy600

Thanks @eskbanker, yeah the bank advised me I could open one and then I found out that wasn't the case.


I was joking about the kids account, I had been looking a one for them too and think i'll move theirs over to the Halifax at 4.5% for a year.