We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Change banks ? BAD banking habits to debt free
Comments
-
Thank you for this info!
Santander was one of the banks recommended for self employed mortgages.
So may be helpful having the cash in there and adding to it over the next year
Have your 20K in there and then see if they have a suitable savings product for anything more - or as others have said take a look at Marcus. there's no sense in having any more than the threshold for interest payments in an account as everything past that point is earning you nothing.
Personally I'd drop that O/D limit a bit - we keep a small facility in place on each of our accounts but it's there only to take account of a small miscalculation meaning we go a few £'s over.
If neither of you have owned a property before then a Help To Buy or Lifetime ISA might be worth looking at for savings as well.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
OH has never owned a property so could get a Help to Buy ISA
I had heard that you can only open with 1200 and put a max of 200 a month in.
Is it still worth doing for only 12 months?2017 [STRIKE]48000[/STRIKE]
2018 [STRIKE]25900 [/STRIKE]
2019[STRIKE]11950 [/STRIKE]to pay off
£[STRIKE]4400[/STRIKE] to pay off !
DEBT FREE
0 -
There's an excellent guide about HTB ISA's on the main MSE site - that should tell you all you need to know. I believe the bonus is still payable even after 12 months? If so - then yes, it would be if you can't get a higher equivalent in interest elsewhere.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards