Getting £190k from property sale, need to keep it somewhere for 4-8 weeks

wadge

I'm going to be getting about £190k from a property sale. In the long term it's money already spoken for, but I need to keep it somewhere for about a month between the time of the sale and from when it will be used.

At the moment, I'm looking to put it into my Nationwide account where it'll earn me about 5%.

The A&L account mentioned here only has 5% upto the first £2.5k.

Any ideas on where I can put it?

wadge

anyone????

exil

Laughing Boy, 2.30 at Towcester, 15 to 1.

codetown

Nationwide esavings will give you 4.65%
A&L Direct Savings will allow you to receive 5.15% up to 25k pounds (in addition to the 2.5k in the Premier Direct, and in addition to other 3k in a Direect ISA if you wish them as well).

Alternatives are:
FIRST DIRECT e-Savings 5.00%
CAHOOT Savings Account 4.85%
BRADFORD & BINGLEY eSavings 4.85%

Depending on which you prefer/have easier access to, you might want to spread your money into at least 3 chunks to reduce risks. In fact you are guaranteeed only up to 33k pounds by a financial institution (even if it is extremly difficult that one of these go bankrupt!).

In any case, open the accounts ASAP, with 1 pound, so they will be there up and ready once you have the big sum to transfer!

KTF

Give it to me - or stick it in one of the instant savings account mentioned above. Be aware that come accounts have a cap on the interest rate so breaking it down into, say 50k chunks as well might be a good idea. Cahoot (who has a cap around 50K I think) lets you open multiple accounts. I dont know about the others.

wadge

Looking at going putting it in Nationwide or Halifax websaver.

ReportInvestor

exil wrote:

Laughing Boy, 2.30 at Towcester, 15 to 1.

I've just wasted a minute checking on the result, exil :rotfl:

Put a smillie in next time .