I would like to know whether this one account is suitable for me or not? How do I find that out? Our current circumstances are are:
I am first time buyers still looking.
Joint salaries are 25K
No loans, no credit card balances due. nothing.
How much do you think slightest bit spend happy? You mean I wont be able to spend on any lavishes at all?
I am can be tight in budgeting but there are times when I spend some money but not effecting my credit or going in debt.
The One Account is definitely an excellent niche product. It's not for everyone though. It calls for tough budgeting and if you're even the slightest bit "spend-happy" with your surplus funds at the end of each month, it's not necessarily the product for you. Contact an Independent Advisor rather than going directly to the lender, as they will be able to assess your circumstances in an objective way.