£52K - Where to deposit

hummy

We have just remortgaged and released £52K equity from a property of ours. We are looking at spending about £10K on refurbishing the place, and some money will go towards clearing credit card debt. THe rest we want to keep and will invest in buying another property when we find it. But what is the best option to deposit this money to. We need easy access to it, i dont particularly want to pay tax on it and i'd like it to work for me while it's in the bank and earn me some money.

Anyone any ideas?

Thanks

G_M

We need easy access to it....i'd like it to work for me

Look at Moneyfacts for an easy access account with interest.

i dont particularly want to pay tax on it

There are limits to annual ISA entitlement so you'll be hard pressed to avoid paying tax on ALL the interest.

bmunky7

Good options are hard to find, but generally remember to set up different accounts for you and your other half (i assume there is one from the "we") this gives you a bit more scope in ISAs and savings accounts. instant access won't get you a good return though.

Asheron

Gold and Silver Only!

rictus123

I think you should deposit it into my account. My opinion only though.

GtiTory

decide whether you want fixed rate for a period of time, or if you want access to it.
theres some decent deals on 2 and 3 year fixed bonds at the moment