Best current, regular and ISA accounts for me?

So8py

Hi all! :wave:

My first post on here, so please be gentle.

I am 18 years old and start my first proper job on the 10th of May. Which will be paid in to my current account (Once I get one that's right for me) at the end of each month.

I am already looking to save for a Mortgage and want to make the most of saving my money so I have a decent deposit.

I will earn £7,800 a year gross. I will take home £7,069.60 yearly/£589.13 monthly.

My only main outgoing will be board paid to my mother @ £30 per week. £1,560 yearly/£120 monthly.

I reckon I can save about £5,000 a year max depending on overtime I work etc.

I'm currently with HSBC and have a Student account, I am looking to get rid of that a get a current account with a cheque book, a debit card and a decent interest rate.

I'm looking for a regular savings account that I can miss at least one payment in and can take out at least once a year with no penalty's. I'm rather liking the Yorkshire BS one at the moment... I'll be "drip feeding" this account with the current account.

As for the ISA, I'd prefer it to be an in branch account, but can be online if needs be, but must be with the same current account provider to avoid transfer changes.

I don't really want to change account every year or every couple of years, I'd be looking for accounts that stay at decent rates for at least 3 years if possible.

Thanks in advance,

Jamie.

natman

Hi and welcome.

I suppose you have a lot to think about and to start saving at 18 is a good thing in my opinion.............
Anyhow
People will say, look at cash ISA's which pay good interest and you pay no tax, and you can choose one that is flexible if you need to get hld of the money.
What i might suggest you look at is flexibility - I am unsure if your in a relationship or have a car, driving lessons, but when your 18, your life is forever changing, so what i might do is not tie up my money, in case your circumstances change.
Yeah consider ISA - But a flexible one perhaps.
Perhaps look at high interest instant access accounts -HBOS bank of scotland do one with a ATM card and the interest rate is ok.
I am just reflecting how much my life changed when i was that age, one week saving like mad, next going to college and organising a trip to ibiza. haahaaa!!!!!
Theres lots of good links on martins saving pages, but flexibility might be the key with a decent interest rate!!:j