Good Morning and advice needed please

poorbird73

Hello!

Right I will try and keep this simple. On behalf of my Mum I want to invest £30000 for 18 months until her fixed rate mortgage deal ends. I have looked at all the high interest rates ect but I am still not sure and its all very confusing to me.

I would like a safe fixed rate account with internet access and have looked at the AA and Egg. Mums own bank, Yorkshire Bank offered her £1000. interest for the £30000 over 18 months is this a good deal? Also is it a huge hassle to switch banks, some I have looked at say she would have to move her current account to them and that would be a huge hassle.

I have researched all I can and now I am at my wits end its so important as I don't want to let my Mum down as she has trusted me to deal with this for her.

Thanks x
Any experiance or advice you be sooooo much appreciated

Stavros_3

If thats a guaranteed 1k interest on a fixed rate account then its not too bad, you need to check with them. To give you an example the latest e-saver on the B & B variable is 2.45%, which if your mum had gone with would return her in the region of £1100 BUT, thats a variable account and the rate may well come down further. So for the sake of 18 months I would personally go with the Yorkshire for peace of mind. If you want to have a look both the Derbyshire and Cheshire building society's are offering 3.75% fixed, but do you want the hassle of switching. Good luck