£230k to invest.... will need instant access

k18dan

A good friend is selling his house and will come away with £230k profit, he plans to buy another property soon with ALL this money, but is yet to find a house he likes, he is in no rush to find one as he has accommodation elsewhere.

He would like to know the best account to transfer this money too to get a good return, however he would need instant access to it in the near future, with little notice.

I know he could split it up into Isa’s ect... but I think it would be less hassle if it is all in one place for now.

Robert_Sterling

HSBC 5.75% Instant Access.

The guarantee offered by banks and building societies only guaranteees that you will get back the first £2000 of an investment plus 90% of the next £33,000.
After the first £35,000 mentioned above there is no guarantee.

Beate

The HSBC Online Saver will only work for the first £50,000 as that is the maximum on the new one. The old one for 5.25% (which I still have) allowed up to £2millions in it.

John_T_5

For that sort of money you would be better off seeking the advice of a financial consultant.

The highest amount you can deposit into an instant access high interest bank account in the UK is £100,000 and that is with the Alliance & Leicester DirectSaver no notice account, you get 5.8%

It might be worth your friend trying to find a financial partner to invest in a hedge fund, the minimum amount you are allowed to invest is £500,000.