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  • FIRST POST
    • Gillybean
    • By Gillybean 11th Oct 17, 4:14 PM
    • 279Posts
    • 512Thanks
    Gillybean
    Reinvesting 50k
    • #1
    • 11th Oct 17, 4:14 PM
    Reinvesting 50k 11th Oct 17 at 4:14 PM
    My husbands grandmother has a bond which is currently worth around £50k. The way in which the bond is operating is changing and she's no longer happy for her money to stay there. Basically they are commencing using a third party company to invest money for them, and anyone wishing to release their money may have a long wait.

    So she wants to get her cash out of there, but none of us have any idea where to put it. The one thing she has said is that she wants to be able to access it easily (potentially doing some work on her property so may need it for that). And she wants something simple that she can understand.

    Where do we start?
Page 1
    • Nual
    • By Nual 11th Oct 17, 5:20 PM
    • 142 Posts
    • 59 Thanks
    Nual
    • #2
    • 11th Oct 17, 5:20 PM
    • #2
    • 11th Oct 17, 5:20 PM
    For safety and easy access, look at NS&I. Rubbish interest rates though so inflation will gradually erode
    • ColdIron
    • By ColdIron 11th Oct 17, 5:37 PM
    • 3,660 Posts
    • 4,402 Thanks
    ColdIron
    • #3
    • 11th Oct 17, 5:37 PM
    • #3
    • 11th Oct 17, 5:37 PM
    Tesco Internet Saver at 1.2% with bonus? Easy to open and operate
    • xylophone
    • By xylophone 11th Oct 17, 5:47 PM
    • 23,644 Posts
    • 13,773 Thanks
    xylophone
    • #4
    • 11th Oct 17, 5:47 PM
    • #4
    • 11th Oct 17, 5:47 PM
    If she wants to stay in cash, she could open a Santander 123, transfer over her household DDs and keep topped up to £20,000 - she'll be able to make payments for the improvements as they occur and if the cashback covers the fee she might be able to achieve the 1.5%

    Hold the balance in a savings account, transferring to Santander as required.

    http://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html
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