Does anybody have any recommendations for a savings account for saving for a house?

[Guest]

.. and also whether they think 27 is too old to even think about trying.

I looked at a couple savings accounts on my banking app yesterday but you can’t actually make any more deposits after 60 days of owning the account and that doesn’t make sense to me. I want to be able to make a deposit every month but not be able to withdraw it.

Thank-you for any advice

[Jan]

LISA is a lifetime ISA, it gives 25% interest! It’s designed specifically to help people get on the property ladder. And only available to under 40’s. It’s your best option I think.

[Fiona]

My mother in law was 51 when she bought her house on a 15 year mortgage!!

[Heather]

There's is a "government help to buy where the government match your savings my friends son has just used it to buy his first house he is in his 30s

[Annemarie]

Look into a LISA, it was recommended by Martin Lewis, I signed up through Moneybox which was also on his website.

[Linda]

Nationwide flex plus account you have your bank account and a savings account linked to it you can transfer as much as you want into savings.

[Paul]

You are never too old.... Its good if you can own a house by the time, you retire or you could find yourself really struggling with high rent.

[Lauren]

This is the perfect age. Whoever has put that idea into your head, well it's nonsense. I bought my first house at 29 with the longest term I could because I didn't earn a huge amount. Came to remortgage 5 years later and I took 10 years off the term as I'm in a much better position. I'd look into a LISA x

[Janet]

Ask to talk to someone at your bank.

Tell them what you need and ask their advice on the best option for you and any other options. Go away and take some time to look at the options offered to you and take some time to make a decision don't be rushed into it.

[Kirsty]

I know you said you’d looked at a couple of savings accounts on your banking app but worth popping into your bank if you can as they should have an advisor to be able to help you pick the right account. Also, I’d say 27 is never too old! I’ve just been into my bank a couple months ago to set up an account for the same reason…I’m 39! The account I got I can pay up to a maximum of £250 per month by a single monthly standing order (12 S.O a year) and while I could withdraw if I wanted to I’m not going to (unless absolutely 1 million% desperate!).

[Jason]

My dad was 50 when he got his mortgage all paid for now. 27 is not to old. Best thing you could do. Having security of your own home.

[Bex]

Too old? No way. I put mine in premium bonds as you can still touch it, but it takes 3-5 days to come back to you when you request it. Yes there's no interest on it, but interest rates are pitiful at the moment and you can get lucky. You may find you don't, but the more money you have, the more chances you have to win. Its like the lottery every month but you keep your money so no risk at all.

[Cheryl]

Agree with Jan Coyne, a help to buy ISA, both my son and g/f have one each and put £100 a month in. They are moving home to us for a year or so and I'm only charging for food and a little towards bills. The rest they give me will be divided and put into their ISA's .

I have a Chase account too which earns about 3% I believe...interest rate just gone up. It pays cashback when using the card.

[Claire]

if you bank with Barclays they have a good rate on savings account I also have a great rate with Natwest savings but can only put max 150 a month in it I also have savings pots in Monzo so earn interest on my small savings ie MOT birthdays etc it all adds up.