Notice saving with early withdrawal

knittingnanny1102

Are there any notice saving accounts/or fixed term accounts out there where you are able to make a withdrawal subject to a loss of interest.  I can find Isa accounts for example virgin but not general savings.  I am currently looking for a new house but in no real rush so could be left for a year or more but if the perfect house came up I need access to funds to pounce.  Any ideas or options would be appreciated 

jaypers

Not really, but a possibility may be to open a Zopa account and play with the 7, 31 and 95 day notice pots. You could put money in and give immediate notice, although you’ll obviously have to wait for that to mature before you can get the cash. With the uncertainly, why not just stick with easy access and you’ll get between 3.2% and 3.4% ? 

Minty33

knittingnanny1102 said:

Are there any notice saving accounts/or fixed term accounts out there where you are able to make a withdrawal subject to a loss of interest.  I can find Isa accounts for example virgin but not general savings.  I am currently looking for a new house but in no real rush so could be left for a year or more but if the perfect house came up I need access to funds to pounce.  Any ideas or options would be appreciated 

The marcus 1 year Fixed allows this, ( you can close the account early for a fee)   but is only 3.50%

grumbler

MSE: Top notice savings

Not much there...

refluxer

I haven't had many notice accounts, but I have had a lot of fixed rate accounts over the years with many different banks and building societies and none of them have allowed access before maturity except in extreme circumstances like death, critical illness or severe financial hardship (bankruptcy).

Nationwide did once offer 'Fixed Rate e-Bonds' that allowed early withdrawal subject to an 'early access charge' (rather like a fixed rate ISA early-withdrawal penalty) but those haven't been available for a number of years now, having been replaced with 'Online Bonds' which don't allow early access.

In terms of notice accounts, it's been a long time since I bought a house but my instinct would be that anything longer than 3 months would be risky so would an option such as Zopa's 7 or 31 day 'boosted pots' (as suggested above) be a possibility ? Would any house sale go through these days in less than 31 days ? This can be set up with a few clicks in the Zopa app so it's super convenient - you'd obviously have to be comfortable with app-only banking though.

Whichever account you choose, you will have to look into any daily withdrawal limits as this would be an issue with many banks if you suddenly needed access to a large sum on one day.

IanManc

Halifax Fixed Saver accounts do not allow withdrawals but do allow early closure with a penalty:

https://www.halifax.co.uk/savings/fixed-term/fixed-saver.html

The penalty is equal to 90 days gross interest on the one year term; and 180 days interest on the two year.

Sarahspangles

knittingnanny1102 said:

Are there any notice saving accounts/or fixed term accounts out there where you are able to make a withdrawal subject to a loss of interest.  I can find Isa accounts for example virgin but not general savings.  I am currently looking for a new house but in no real rush so could be left for a year or more but if the perfect house came up I need access to funds to pounce.  Any ideas or options would be appreciated 

Yorkshire Building Society Rainy Day Account 2 is increasing interest rates to 3.6% on £5k and 3.1% over that.  You can withdraw on specific anniversaries or on closure with no penalty.