where do I put a windfall?

macrob

I have a large sum of money coming [250k+] and I would like to know the best place to put it while I decide what to do with it, possably a small B&B.

sujman

I can give you my bank account details, I'll hold the £250k for you while you mull things over...

richgirl

macrob wrote:

I have a large sum of money coming [250k+] and I would like to know the best place to put it while I decide what to do with it, possably a small B&B.

A high interest savings account , A&L is, I think 5.1%

flashf

I'm in a similar position - about half that. Shall I pay off my £85k mortgage and invest the rest (after spending a bit??)

Dan29

richgirl wrote:

A&L is, I think 5.1%

5.15% until 31/3/07, but only on the first £25,000 sadly - 0% on the rest of the balance!

pldd4

Dan29 wrote:

5.15% until 31/3/07, but only on the first £25,000 sadly - 0% on the rest of the balance!

hi,

We're in a very similar position with a lump sum, this a & l one is no good if the maximum is £25k.

Are there any other options available? with about 30 days access?

Thanks very much.

Stonk

Bradford & Bingley eSavings pays 4.85% on £1,000 plus. It provides instant-ish access via a linked current account, just like all the other internet savings accounts. It doesn't get much mention on here, but I like this account a lot.

wattapain

Cahoot 5.25% on 15-100k but only for 6 mths

pldd4

cheers for your help so far.

How about this one?

http://www.abbey.com/index/future/savings_index/instant_access_index/instant_access_esaver.htm

£200,000 plus 5.15% /4.90%

see any tricks to this one?

Thanks.

Cook_County

It depends on what you want. If the money is only to be held short-term then cash is best. All banks carry some risk because the UK investor protection scheme only covers up to 90% of £33,000 of deposits.

If you want absolute security then National Savings are the only institution you could use. If you are prepared/happy to use a bank then an offshore bank account is likely to have a higher interest rate and will pay you the interest gross so that you will be able to earn more compund interest on the tax before you have to pay it over to HMRC on 31 January 2007/2008.