Best shared account, monthly outgoings type option?
Discussion
Situation - own a house in my name. Live with long term partner - practically it is 'our' house. When re-mortgage comes around we will both be named on it.
Currently have personal accounts and we just pay for different things, transfer money back and forth to each other etc (which is fine, and works, but a bit of a faff).
Looking to open some sort of joint account to cover the joint outgoings - mortgage, council tax, yadda yadda, and also as a way to make some 'joint' savings, to pay for potential extension, future moves etc.
What's the best/most economical way to do this?
Currently have personal accounts and we just pay for different things, transfer money back and forth to each other etc (which is fine, and works, but a bit of a faff).
Looking to open some sort of joint account to cover the joint outgoings - mortgage, council tax, yadda yadda, and also as a way to make some 'joint' savings, to pay for potential extension, future moves etc.
What's the best/most economical way to do this?
I'm in a similar situation, except we've just bought and mortgage is in both our names. We're currently in a similar situation, transferring money between us and paying for different bits.
I think the Santander 123 account might be the best as there's cashback on some household expenses like utilities and council tax, and the interest rate above 3000 is one of the best. Do need to fund it by a certain amount a month and have at least 2 direct debits on the account but that shouldn't be hard.
Would be interested to hear what others are doing.
I think the Santander 123 account might be the best as there's cashback on some household expenses like utilities and council tax, and the interest rate above 3000 is one of the best. Do need to fund it by a certain amount a month and have at least 2 direct debits on the account but that shouldn't be hard.
Would be interested to hear what others are doing.
C0ffin D0dger said:
Santander 123 account is pretty good, 3% interest on £3k+ balance and cash back on some household bills etc.
I did this a few years back when my girlfriend moved into my flat (we since bought a house together), we both transfer money into the joint account and use that for any joint spending, bills etc and anything left over goes into a joint savings account, also Santander, purely to use the same online banking etc. Much easier than having separate accounts, or sharing one for everything.Gassing Station | Finance | Top of Page | What's New | My Stuff