£400,000 to invest short term

Sid_3

We will soon have £400,000 to invest from the sale of our house . We wish to invest this for 3 to six months until we find a new property to puchase .
Where can we get the best interest with instant access for this period.Hope someone can help.
Sid.

YorkshireBoy

Sid wrote:

We will soon have £400,000 to invest from the sale of our house . We wish to invest this for 3 to six months until we find a new property to puchase .
Where can we get the best interest with instant access for this period.Hope someone can help.
Sid.

I'm assuming by "investment" for 3-6 months you mean a "savings account" as you require instant access.

First of all, and generally, the best rates are usually given by internet-based accounts/providers.

Rates/deals are changing all the time. Have you tried the comparison websites? I've linked to two such sites below:

https://www.moneyfacts.co.uk
https://www.moneysupermarket.co.uk

On a recent thread (when someone was asking where to put £80K), I and several others suggested breaking the amount down into 3 accounts with 3 different providers. This has something to do with the institutions liability to you if they go "belly up". I believe they are only liable for the first £30K of any deposit so, if you follow this advice, you're going to need more than a dozen accounts!

I don't know how familiar you are with internet-based accounts, but my ING (5%) transfers take 3 working days (5 including a weekend). Would this be instant enough for you?

Some of the experts will be along shortly but, in the meantime, have a look at the comparison sites above.

HTH
YB

Sid_3

Thanks for the help Yorkshireboy I will have a look at the sites you suggest.

Sid :T