Best savings accounts?

How do you check the limit of how much you can deposit in a ISA account for the rest of the year? And what happens if say I have £1 left of my £5,640 and I try to transfer in £1,000?
 
The Halk said:
Less than the ISA - at least using historic rates. Your option isn't a bad one, as long as you keep at least some savings.

As for LTV assuring you can dip back into your mortgage that is false. You lose your job and need that 30K that would have been in your ISA but is in your mortgage? Can't touch it.
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Well if the proverbial really has hit the fan and the job is gone and i have a good LTV then i will sell the house and sit on that equity release in rented accomodation.
 
Vegeta said:
How do you check the limit of how much you can deposit in a ISA account for the rest of the year? And what happens if say I have £1 left of my £5,640 and I try to transfer in £1,000?
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Your bank knows. They'll refuse or reverse the transfer in. If for some reason you manage to get around that by accident (e.g. you have 2 isas with different providers) usually the tax office get back to you by letter at some point.
 
Gah, why do they have to make it so difficult. I'm currently with Santander, but my ISA is at something like 2.5%. I can't open a new Santander ISA with the 4% rate as I'm already with them :rolleyes:.

So I guess I'll just have to go for the Halifax 2 year ISA @ 3.7%.
 
Vegeta said:
How do you check the limit of how much you can deposit in a ISA account for the rest of the year? And what happens if say I have £1 left of my £5,640 and I try to transfer in £1,000?
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Most ISA accounts should tell you when you login to online banking, or call the provider.
 
Rex-Kramer said:
Well if the proverbial really has hit the fan and the job is gone and i have a good LTV then i will sell the house and sit on that equity release in rented accomodation.
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I'm sorry but that's utterly ridiculous. You can't sell a house in weeks. You can't even sell it at a cut price in a year in many circumstances. Short of voiding 20% of the value of the house you can't guarantee to sell it.

And you think being able to dip into an ISA in a time of crisis is on a par with having to sell the family home and move into rented accomodation?

Come on.
 
4 weeks from the day you make the decision to sell?

Price to sell... lol, yea, thats kinda the point in any house on the market no? I mean you don't price it not to sell.
 
My plan's aren't grand. I'm planning on getting a good deposit of £15-20K on a flat/house no more than £80K. I'll still be living at home for the foreseeable future so I'll rent the place out and wack a huge lump of my own wage paying the mortgage off as soon as possible including the rent I receive. I will save some money as-well as you never know what will happen. Luckily for me the job I have if I was to be made redundant I'll get decent redundancy money. At-least £10K I'm guessing and that'll only increase with time. People took voluntary redundancies a few years back before I joined and these guy's had been there long enough to be on their top wage band's and get close to £40K.
 
[TW]Fox;21792998 said:
4 weeks from the day you make the decision to sell?
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Just sold one in 5 weeks from sign going up to money in bank.

Priced the house 20k under every comparable house within a mile and was inundated. First to offer a completion got the sale.

Although i sold under the market value for the house so took a hit there, the years of overpaying the mortgage has released a tidy sum, plus the amount of increase from owning the house during the halcyon days of the early 2000's

Time for another 335i i think Fox :D
 
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Rex-Kramer said:
If you price to sell then in my experience you can exchange and complete in 4 weeks.
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Given this discussion started from whether you're marginally better off saving or paying off a mortgage, having to hawk off your house at a low value to get it sold ultra quick seems quite a daft thing to have to resort to if you were to lose your job.

You're not making your case look particularly appealing I must say :p
 
Kenai said:
Given this discussion started from whether you're marginally better off saving or paying off a mortgage, having to hawk off your house at a low value to get it sold ultra quick seems quite a daft thing to have to resort to if you were to lose your job.

You're not making your case look particularly appealing I must say :p
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Agreed, like everything on the internet its all moot.
 
My worry Rex is that people dump their money into their mortgages without having a reasonable amount of savings. It has serious repercussions on their lives if they were to do so.
 
The Sainsburys E-saver looks pretty good. 2.9% clean rate. I might move to that once my nationwide bonus ends. I hate having to mess about swapping banks all the time.
 
[TW]Fox;21792998 said:
4 weeks from the day you make the decision to sell?

Price to sell... lol, yea, thats kinda the point in any house on the market no? I mean you don't price it not to sell.
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Couldnt disagree more. Most people expect to get 10% hit off the headline value of a house sale, certainly start their bargaining there.

If you price the more expensive house with that 10% already taken out you get more viewers and, in my experience, which you may think is worth nothing, you get more people willing to pay the asking as the house is seen as a bargain at its headline rate.
 
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