50K - What savings account ?

russandkaren

Hi guys,

Have 50K which will eventually pretty much all go on a house extension, but not until Summer 09 at the earliest. I'd be grateful for some advice on where to put the money until we have to pay the builders etc, bearing in mind that it will be in installments. I want to maximise any interest etc that I can pick up along the way, although appreciate that in the current climate it could be difficult !

Thanks

Wookey

If your builder is starting during the summer and not wanting paid till the job is completed then perhaps the bulk of your capital into a 9 month fixed rate bond, rest into a 6 month bond and fill up any ISA limits over end of march start of april.