Hello, me and OH are saving for our first home. We currently rent a 3 bed in south east for £1300 PCM. I’m a stay at home parent with DD starting school and DS just turned 2 this week. We have one income of 80k. After rent, bills and paying off a holiday we have budgeted £1000 a month to save and a weekly spending allowance for things like days out or things we need to buy ect. My OH has his own current account where all his earnings go into and all our household and car bills come out of. I have my own current account and he gives me a weekly allowance which covers my phone bill, life insurance and my daughters riding lessons comes out of my account. I’m left with £80 a week just for anything. I’m managing to save £50 a week out of this and put into my everyday saver with Barclays. This is handy because at the end of the month I put it in my LISA but throughout the month if I absolutely need to dip in for a little bit I can do until I transfer to my LISA.
We have 7k saved in my OHs savings account and 600 in my LISA. Our goal is 2-3 years to buy. My main issue is that we don’t have anything joint so I can’t see his savings and he can’t see mine. I would like all the savings to go into one ISA. Also, the LISA I’ve got states you can only access the savings when you go to buy your house which is fine but now I’m worried if I’ll be able to access it as I have no income so probably won’t be able to get on the mortgage? Just wondered if anyone has been in this position and been able to access your LISA to be named on the mortgage or been able to get a joint mortgage on one income ?
Also can anyone recommend a 2 year ISA that we can both love deposit money into and see the balance on a app?
I find it so motivating to be able to actually see the money growing.
Thanks in advance 