Best savings for about £40k

Bmwm3gt2

Hi, I am looking for the best way to save around £40k, it will be used in a year or so for a deposit on a house. I know £4K in a LISA is best but what would you recommend for the rest? Thanks

Archi_Bald

https://moneyfacts.co.uk/

kinger101

For a simple life, NS&I, either as income bonds (1.15%) or premiums bonds (depends on luck but on average, you'll get slightly higher).

epm-84

Partly depends how soon you expect to buy a first house.  If it's not going to be in the next 12 months, a fixed rate account or notice account may be the best option.  If you're looking at houses and may buy one when you see a suitable one then you'll want easy access accounts.

grumiofoundation

Bmwm3gt2 said:

Hi, I am looking for the best way to save around £40k, it will be used in a year or so for a deposit on a house. I know £4K in a LISA is best but what would you recommend for the rest? Thanks

Assuming you haven’t already opened a LISA, since it has to be open for 12 months before use, you will actually be able to deposit 8k into LISA. If you want to maximise interest there are some regular savers paying 2%+ (generally require appropriate current account).