Help with maximising my savings

katygeorge

flaneurs_lobster said:

clairec666 said:

flaneurs_lobster said:

clairec666 said:

If you want simplicity, open the RBS regular saver, and you'll be able to continue using the same account until you get to your target. 

The RBS Digital RS is a good idea, but does mean opening a current account with RBS to qualify.

True.... it's not too much hassle to open one, but if the OP doesn't want another current account they could go with the Principality regular saver instead. The downside is that it matures after 6 months. Unfortunately there aren't any regular savers that don't require a current account AND continue for longer than a year! (unless one has escaped my notice...)

If OP doesn't mind opening another current account then the one to grab (as I was reminded on another thread here - thanks @GreenScepter) is Zopa, and the 7.5% fixed for a year £300/mth regular saver. Last day for this account TODAY.

Just prodded my OH to do this and have to admit that, like most of the breed of hip cool new app-only accounts, it's far from straightforward and took a bit of swearywords to set up, even with help from someone who's had the account for most of a year. Now sorted with £300 earning 3% more than the EA it was languishing in earlier.

Thanks for that. It seams the account is still a option in process of opening 

katygeorge

MEM62 said:

katygeorge said:

Hello. Im looking to save a deposit for a shared ownership home. Ive given myself a 2 year target and a aim of £8k

I appreciate that it is a side issue but I would suggest that you look at the recent reports on complaints and the downsides of shared ownership and perhaps re-visit this decision.  As a mortgage broker recently told my step-daughter "a one bedroom flat is infinitely more desirable, and financially beneficial, than a shared-ownership three bedroomed house".   

Sadly its my only option. Im 40, 2 kids. Low income. 

Best mortgage ive managed to get offered was £101k and its not enough to buy anything thats liveable