Help with savings - Goal to buy first property

grumiofoundation

Bringvaluetome said:

I say stocks and shares ISA because that's my only other ISA open. I can keep cash in there and don't have to invest.

If you aren't planning on investing it why does it need to be in an ISA? 

Bringvaluetome

Because other than the HTB ISA, it's my only ISA.

grumiofoundation

Bringvaluetome said:

Because other than the HTB ISA, it's my only ISA.

I think you’ve missed the point I was making - why does it need to be in an ISA - as opposed to a ‘normal’ savings account? 

Bringvaluetome

grumiofoundation said:

Bringvaluetome said:

Because other than the HTB ISA, it's my only ISA.

I think you’ve missed the point I was making - why does it need to be in an ISA - as opposed to a ‘normal’ savings account? 

Sorry if I misunderstood your message. Well I thought an ISA is better overall to a savings account due to the tax free benefit.

potatobrains

I though that too, but asked in a thread to check & was advised ISAs aren't as worthwhile as they used to be (for a general saving account) as per here: https://forums.moneysavingexpert.com/discussion/6146132/isas-vs-saving-accounts-etc/p1

, unless you've loads of money & you risk achieving £1k of interest in a given tax year, as was pointed out here: https://www.moneysavingexpert.com/savings/best-cash-isa/#tip1