£20k+ to invest - catch: No internet banks..

Legacy_user

Hey there,

Lately me and my family have come across a large windfall of funds, which we want to invest for the long term.

I know there's cahoot + egg, but my family rather not use internet banking (they're old fashioned) and so was wondering what's the best non-internet alternatives at the moment?

I was looking at the Coventry Building Society 6% but its only for £5k.

Any suggestions? And please, no arguements about internet banking - ive already tried

mmmmm :-)

Fatboy_NSS

It's £5k per person at 6%, then the rest (up to £250k) could be in the non members bond which is 5.86% for 2 years or 6.01% for 3 years.

Also it's worth making sure they're fully ISA'd up for the year (assuming they're taxpayers). Abbey postal ISA is paying 5.1% which I think is the best around at the moment. It can be opened in the branch but has to be operated by post.

System

check out halifax. i havent read into it all properly but they are doing a savings account @ 6% gross pa
http://www.halifax.co.uk/savings/regularsaver.shtml
unfortunately you have to put in at least £25 a mnth in to keep it going. what im going to do is open another account and put £300 in the rest is going in the saving account and a monthly direct debit is being set up to put in £25 a mnth in the savings account.
can only be kept in for a year though..but by that time other banks may have better offers so you will be ready to change anyway

DiggingOut

I keep saying this, but here goes again. If one spouse is not a taxpayer, put it in that person's name so the interest is tax free.

Muser_2

Hello there - I'm new to this so apologies for posting a message potentially in the wrong place!!

I've just sold my house and have £25K equity. I intend to stay with a friend until I see a house I'd like to buy. This may take 1 month or 6 potentially! What's the best thing to do with my money? I can only put £3600/year in an ISA - is that right?

Any advice would be really appreciated :-)

Cheers

Baldur

Muser wrote: »

I can only put £3600/year in an ISA - is that right?

You can only pay £3,600 per tax year into a Cash ISA - see HERE.

dunstonh

Invest or save?

You say invest a few times but then list a few savings options. Can you clarify what you want as there is no point listing investment options if you only want to use savings accounts.

earlgrey_3

D, Muser has posted to a very old thread, 2004, so the original poster is probably long gone.

dunstonh

Good spot. A good reason why you shouldnt hijack someone else's thread.