Hi,
I am hoping an FTB hoping to purchase before end 2011 to take advantage of mortgage interest relief.
I am currently saving €600 p/m with PTSB Regular Saver at 3.35%. I can afford to save €1200 p/m and am looking for advice on best options-moving to get a higher rate seems advisable. I note that most of the Regular Saver a/cs have a limit of €1000.
Should I split the 1300 between 2 accounts? Or should I split between a lump sum deposit for money saved to date and a regular saver (7k lump sum saved to date)
Also, forgive my ignorance, but how does the application of the interst work e.g. if the rate of say 4% is applied in November, if I see the 'house of my dreams' in October, and decide to withdraw my sum saved for the deposit, do I get no interest at all?
Thanks in advance.
I am hoping an FTB hoping to purchase before end 2011 to take advantage of mortgage interest relief.
I am currently saving €600 p/m with PTSB Regular Saver at 3.35%. I can afford to save €1200 p/m and am looking for advice on best options-moving to get a higher rate seems advisable. I note that most of the Regular Saver a/cs have a limit of €1000.
Should I split the 1300 between 2 accounts? Or should I split between a lump sum deposit for money saved to date and a regular saver (7k lump sum saved to date)
Also, forgive my ignorance, but how does the application of the interst work e.g. if the rate of say 4% is applied in November, if I see the 'house of my dreams' in October, and decide to withdraw my sum saved for the deposit, do I get no interest at all?
Thanks in advance.