short term investment advice

adam14675

Hi,
House sale going through means I'll have just over £100k equity to invest for a short amount of time (somewhere between 2 weeks and 6 months - not very precise, I know!). Any ideas on how best to earn money out of this bearing in mind it will need to be instant access in case the pace of my house-buying arrangements pick-up.
Many thanks,
a14675

Jake'sGran

If it is only for two weeks I should leave it wherever it is now as just moving from one place and back again will take up about 6 days in transfer time but for six months I would go for the very best paying instant access savings account. There is always a list in The Times but I can ony remember one of the three they recommended last weekend which is Birmingham Midshires paying 5.2%. The other two were paying a bit more - you just want the easiest to operate. (I should have checked before I posted but you can do it quickly with Moneyfacts, Moneysupermarket...someone like that).

si1503

I concur with the above. Bham Midshires Internet Saver would be a good choice, not only does it offer a competitive rate of interest and is domestic, it is also totally instant access, meaning if you are unsure of when you will need to draw the funds out you have that flexability.

adam14675

Thanks for this advice.

Things have changed a bit. We've decided to rent in the area we're moving to, so that we can be more informed about where we end up buying.

This means we'll definitely have the equity in the bank for at least six months. So we could opt to get one of those accounts with 60, 90 or longer days notice for withdrawals in pursuit of a better interest rates. Other than not being able to access your money, are there any downsides to such an account?

Many thanks.