First Time ISA

Fenser21

Good Morning,

I am hoping some one can please point me in the right direction.

I have some money in a savings account but would like to place this in a cash ISA instead. The issue is this money is to go towards a house purchase sometime this year so I will need quick access at the time without losing any interest. Also can I have 2 cash ISA's at the same time with the same company? As is obvious I have never held an ISA before and just kept money in my bank savings account. 

I read Martin Lewis's article this morning about best ISA's and companies like Chip and Tembo but I have never heard of these companies, do they just deal with ISA's?

Apologies for my ISA ignorance!

jimjames

If it's for money you're spending this year do you really need an ISA? What was it specifically that attracted you? There is a £20k limit per year so depending on the amount you might not be able to put all your savings in anyway. I would suspect that the best option for your situation is getting the highest interest rate for the remaining months rather than the type of account.

Albermarle

Apologies for my ISA ignorance!

Savings - All Guides - MoneySavingExpert

Suggest you read this and then read through the forum, then you will not be ignorant any longer .