What to do with £95K, short term?

bishy_2

Can anybody offer some advice? My BF has sold his property and is currently looking for a new one but in the meantime needs to put the equity somewhere, approx £95K. This could be only for up to 3 months, or longer depending on how the house-hunting goes. It would need to be instant access and I notice some of the higher interest savings accounts (A&L online) have an upper limit. Any idea's?

koru

Spread it round several of the top accounts.

You could both open an A&L account. That's £25k x 2 = £50k.

mad

Yes that is the best thing you can do short term. Other accounts to consider are Coventry building society or ICICI as the top rate of interest might be capped on balances above a certain amount with allaince and Leicester. Here is an article on the coventry Building society
http://money.guardian.co.uk/saving/currentaccounts/story/0,,1722861,00.html

Helen_from_yorkshire

koru wrote:

Spread it round several of the top accounts.

You could both open an A&L account. That's £25k x 2 = £50k.

Koru - Are you referring to the A&L Online Saver or a different account.

koru

Helen_from_yorkshire wrote:

Koru - Are you referring to the A&L Online Saver or a different account.

Yes. Online Saver.

shona_2

Hi
I've been thinking about this too, as I want to free some equity from a house I rent out. Any other good ideas for short-term gains?

S

love_more_live_more

hi i posted last week and the best suggestion was to put my £82k in an ICICI with 5.15%.

Lowtrawler

As I posted last week. ICICI have a limit of £40k that can be transferred out on one day and so don't put more than that in if you will need more than that out quickly (as is likely to be the case when buying a house). Of course, you could each put £40k into ICICI and overcome this problem for £80k of your funds.