Lump sum advice

fenedge17

I will have approx £140K to invest when my property has sold in the new year. I will need to access it with 60 days notice once I buy another property. Am assuming it is best to split so that my money is protected, advice please.

droopsnoot

At what point might you need the money? I know you say you'll need it on 60 days notice, but are you planning to rent for a few years or will you need to find somewhere to buy straight away?

If it's relatively short term, there's not a lot you can do other than put it into savings accounts, so it's just a case of finding the best interest rates you can at the time, as you said also spread it around so that no more than the maximum guaranteed sum is in any one institution, there's a list on here somewhere of who is linked and how.

So the key question is, how long will it be before you need the money - months or years?

dunstonh

Given your short access requirements it would not appear suitable to invest the money but to stick with savings accounts instead. In which case the table of savings rates should be viewed.