Making the most of my savings

rachie_2011

Hi everyone - just wanting your opinion on this really!   

I have a sum of money which I want to use as a deposit for a house.  Due to an operation due to take place in a few months time, I have decided to put the buying idea on hold for six months.  During this six months, I'd (if possible) like to let this sum of money sit somewhere and at least earn a little something.  Obviously, a long term savings account wouldn't be right for me if I'm wanting to start looking for a property in under six months time.  

So my question is, what would you suggest?  A easy savings account with access? 

soulsaver

How much? What acs do have already? https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

rachie_2011

I have an account with Halifax and have a savings account with them also, but at 0.23% it depresses me to think I could be doing more with £15k.  

george4064

soulsaver said:

How much? What acs do have already? https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

This.

grumiofoundation

Do you have a lifetime ISA? If not you should open one ASAP (can open and find with £1) assuming you are eligible of course. 

LISA has to be open for 12 months before being used for a house purchase so if you are going to buy before then won’t be best product for you.

However if you were in a situation where you weren’t going to buy until say May 2021 you would be able to pay 3 x £4000 into the LISA receiving £3000 in government bonus! 

Even if you think you will buy before 12 months it is still worth opening with £1 because obviously there may be delays etc that mean you haven’t bought in 12 months and then you would be able to fund and use the LISA. 

If not eligible for LISA 1.3% is the best currently available easy access savings account (Marcus). Nationwide flexdirect also offers 5% on up to £2500 if you have never had before (also £100 refer a friend bonus).