money from re-mortgaging

allvox

Hi, i have just re-morgaged my house in order to do some renovations to it. Once the original mortgage is paid, i will have about 50K to put into an account, which i will use as and when over the next year to pay builders etc., I want to know if anyone has any advice as to where i should put this money in order to earn some interest on it untill i need it. It obviously has to be an account i can get money out of easily-so i am thinking branch rather than internet, unless of course someone knows of an internet account that has a cheque book facililty.
I am having to put it into my current account at natwest untill i know what to do with it, and don't want to leave it in there for any longer than necessary.
Thank you

babe_ruth_3

How about a&l directsaver at 5.38%?

You can put between 5K and 100K in it. Its instant access (although you could lose some interest depending on what time of the month you withdraw the money) and I don't think you have to have a current account with it but not totally sure on that one.

You won't get a cheque book but I would imagine you can withdraw from a branch.

Anyone else have more details on this account?

cybershot_2

allvox wrote:

Hi, i have just re-morgaged my house in order to do some renovations to it. Once the original mortgage is paid, i will have about 50K to put into an account, which i will use as and when over the next year to pay builders etc., I want to know if anyone has any advice as to where i should put this money in order to earn some interest on it untill i need it. It obviously has to be an account i can get money out of easily-so i am thinking branch rather than internet, unless of course someone knows of an internet account that has a cheque book facililty.
I am having to put it into my current account at natwest untill i know what to do with it, and don't want to leave it in there for any longer than necessary.
Thank you

I done the same thing last year but with 20 grand and used it to pay builders over the year,
I also had a natwest current account, so i opened the natwest onlines savings account which is on the natwest hompage,

found this very handy and easy. with a good interest

Girl_least_likely_to

Hi allvox,

We're in the middle of an extension and have remortgaged like yourself. I had £30k to put somewhere. We bank with Barclays and they have an e-saver account which I manage online. The interest compared to a lot is not so great at 4.1% but when I log in to check my current account I can also see details of the e-saver account. When I want to make a withdrawl I transfer funds over to my current account and make a trip to my branch if I need cash or make out a cheque if needs be. Maybe your bank has a similar one, it would save you from having to open an account from scratch.

HTH

cybershot_2

Girl_least_likely_to wrote:

Hi allvox,

We're in the middle of an extension and have remortgaged like yourself. I had £30k to put somewhere. We bank with Barclays and they have an e-saver account which I manage online. The interest compared to a lot is not so great at 4.1% but when I log in to check my current account I can also see details of the e-saver account. When I want to make a withdrawl I transfer funds over to my current account and make a trip to my branch if I need cash or make out a cheque if needs be. Maybe your bank has a similar one, it would save you from having to open an account from scratch.

HTH

Thats what i was saying in the post above yours

Girl_least_likely_to

cybershot wrote:

Thats what i was saying in the post above yours

Ever heard of cross posting ?

Be nice to all money savers newbie.

cybershot_2

:A more help the better ai

Girl_least_likely_to wrote:

Ever heard of cross posting ?

Be nice to all money savers newbie.