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Best place for £80k

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IHateDida
IHateDida Posts: 1,670 Forumite
edited 23 December 2011 at 12:07AM in Savings & investments
Coventry Building Society is offering 3.1% (Poppy online saver) and up to 4 penalty free withdrawals.

Thank you :o

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  • SnowMan
    SnowMan Posts: 3,676 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 26 July 2011 at 9:00AM
    IHateDida wrote: »
    Hi - can anyone advise whether I have picked the right place (before I apply) to place the proceeds from my house sale (£80k).

    Coventry Building Society is offering 3.1% (Poppy online saver) and up to 4 penalty free withdrawals. Only planning on it being in the account for 6 months (depending on when I find another house to buy....of course this could be longer!).

    Thank you :o

    The Derbyshire building society (net saver issue 1) account looks better than the Coventry popppy saver. It offers 3.11% AER but with unlimited withdrawals.

    https://forums.moneysavingexpert.com/discussion/3380492

    Can withdraw up to 100K daily so should be no problem getting the money out when needed for your house purchase. Normally withdrawals made through BACS (usual 3 working days) but MAY be able to pay for CHAPS if required for same day transfer if needed (check this with the Derbyshire).

    Careful you don't go over the 85K FSCS protected savings level, if you also have savings in Nationwide Building Society, Cheshire Building Society, Derbyshire Building Society or the Dunfermline Building Society as they all come under the same license.
    I came, I saw, I melted
  • IHateDida
    IHateDida Posts: 1,670 Forumite
    edited 23 December 2011 at 12:09AM
    SnowMan wrote: »
    The Derbyshire building society (net saver issue 1) account looks better than the Coventry popppy saver. It offers 3.11% AER but with unlimited withdrawals

    https://forums.moneysavingexpert.com/discussion/3380492

    Thankyou! Although I think I will still go along with the Poppy Saver as it also donates to the British Legion :-)
  • SnowMan
    SnowMan Posts: 3,676 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    You are most welcome.

    It's a cert to be in the MSE weekly email tomorrow, so worth applying today just in case they close the account to new applications due to high demand.
    I came, I saw, I melted
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