Best way to save for a house?

[Newlysinglemum1]

Hi all, maybe a silly question- but I'm currently saving for a house. I'm getting divorced and my solicitor has advised that I open a new account so they can argue that its out of bounds for the financial settlement as its money earned post separation. This money will be going towards the deposit for a house. Is there anything I should be considering in terms of what savings account to open? Is there any accounts in particular that are better if it's specifically for a house purchase?

Look into a LISA if specifically a house saving pot

Should add- if you are a first time buyer

100% a LISA. Get money in there before end of March 2025 to make the most of this year's bonus.

You can only use a LISA if you are a first time buyer.

Have you owned a house before?

I haven't owned a house before? My old house was in my ex husbands name (he owned it before we met and never changed to add my name on to it) and I paid him my share towards the mortgage? So would I still count as a first time buyer?

Just find out how much the maximum price is. My grandson was fined because the flat he bought was above the maximum you can save. As my dd said the price had not been changed since it was set up and the cost of their very small flat in London was above the ceiling and they had to pay £10,000 penalty. Can’t remember the details but know they felt aggrieved .

From what I have read online yes you can still use a LISA. Check though.

Are you 39 or under? If so then I agree with others about a LISA.

I'm 37, and I need to buy within a year or I'd lose my universal credit for my childcare and don't want to waste my house deposit on that.