Leaving my husband

[Whatatodo20]

I’ve name changed for this for obvious reasons. After 11 years together, I realise that I need to leave my husband. I need to leave my husband. I’ve given myself a year to get some cash together so that me and my DD will be able to buy and move somewhere. I’ve been looking at LISA - can anyone with any knowledge tell me if they are worth putting money in to? I’ve been looking online and they all seem to say that they are stocks and shares and my money will be at risk? Where is the best place to open one?

I know that there is a a different forum for this but I’m posting here for traffic.

Start collecting evidence of properties he owns, his pensions, savings etc.
Are you working?

The north west covers a lot of places, are you near any of the large cities or towns.

Posters really can't offer advice on a divorce lawyer solely in "North West"

I have a LISA and I would advise against for your situation

a) charge for withdrawing for any reason other than buying home - if you urgently need the money for something else you'll lose out
b) 25% top up only happens at the end of the financial year (8th April is the deadline for this year) so you won't have that boost til April 2022
c) you need to have the account for at least a year before you can use it on a deposit

Not sure what would be better for you. Good luck.

@TheWernethWife - you’re right. I’d be looking Bolton / Leigh / Wigan way.

@Reclinehard - thank you. If I chose to go the LISA way i was thinking of opening one with £1, then depositing the £4K from a savings accounts prior to the financial year deadline

@7yo7yo - I am. I’ve just secured a new role. It is a substantial amount of money more which has contributed towards me leaving but waiting a little bit as I’ll now be able to save more towards a deposit

Hello @Whatatodo20 there are non stocks and shares ISAs, they are typically called cash ISAs and a few building societies do them. I don’t think I can post them as (advertising?) but I can maybe DM you a link on where to find on Money Saving Expert

Also if you’re looking for a 5% mortgage it may be worth getting an Agreement in principle soon. They typically last for 6 months and the popularity/availability of 95% mortgages will wane should we go into negative interest rates. Can you tell I work in finance 😂

@Jillybons that would be really helpful. Would I be able to get an agreement in principle even with poor credit? My credit file should be clear around the end of the year - should I wait until then? Thank you to everyone, again, for your help