Saving account with good interest

Elvisjo

Me and my husband is going through a difficult time and we have just sold a second house, so we want to put the capital into a savings account with good interest. Is there an account with joint signatures that we can open and take out the money within a year or so? If not what is the best option for us until we know if we are staying together or not? Thanks for advise

cantbelieveit23

Particularly considering your personal situation, is there any advantage in a joint account?  Could be you split the cash from the house sale equally and start by putting 20k each in a Cash ISA asap.  Beyond that, the problem is that, assuming you will have more than 25k each remaining, you will be taxed on any interest earned on anything above that. I'm assuming you are already both taxpayers, but of course the sum you have from the sale (equity or full value?) is relevant.  Best up to date info on interest rates is always on MSE.  Question will be whether you can risk a 1 year fix or need Easy Access.  Check that there are no preferential rates offered by your current bank(s).

Elvisjo

We are not sure if we are going to separate and after the sale of our second property the solicitor has advised me to safeguard the money in a joint but 2 signature account. It makes sense to do this even though we are friends at this time. we obviously want a decent return whilst it’s in the account so I’m trying to find the best options. Thanks