A joint account for saving for future purchases?

mlbarrett

Good afternoon all!

I recently got engaged to my wonderful man and we've been thinking about setting up a joint account to put some money aside each month for wedding expenses and/or house purchases (or for a rainy day!).

Can you please advise me where to look? Partner is a teacher and I'm a research student, hoping to finish in the next 12 months.

Many thanks.

mlbarrett

Chaddee

I've been wondering about this too so I'll read answers with interest. Am I right though that even having a joint current or savings account means that you are financially linked and therefore affected by each others' credit rating? My fiance's record with paying credit card bills on time is not good.

Chadsman

Any account (that can be run as a joint account) will do that you would pick if you wanted just one account holder.

...other than that do you want instant access via branch, an ATM card, telephone/postal/web access, a regular saver, monthly interest etc...

Mikeyorks

Chaddee wrote: »

Am I right though that even having a joint current or savings account means that you are financially linked and therefore affected by each others' credit rating?

Yes .. it does. And it's any drag factor he has ... as opposed to your 'uplift' (:o) that will do damage.

mlbarrett

Many thanks for the replies. Will think about things more after Christmas. Would probably use the account for bills, etc. too so we can both input into the account per month.

Better check our credit ratings first before making any decisions. Mine can't be too bad as only made two late (only by a day or two) credit card payments (realising had put the wrong year on the internet banking site!), approx. 2-3 years ago and have paid all other bills and payments on time since being at university. Other half's hasn't been as great so don't want to be affected by him.

Some internet surfing for Boxing Day then!!