80K for short term investment

whookam

Hi,

I've recently sold a flat releasing 80K. We want to spend the majority of this renovating our new property over the next 9 months or so. We therefore want reasonable access to the funds (at least 30days notice or less) but want it not to be in our current account where it will dwindle away!

Any suggestions as to what we can do with it? I know we won't make much in the way of interest but anything is better than nothing. Don't want to risk the money either so thinking savings more than investments.

Was looking at one of the Aldermore istant access accounts for some of it. Don't mind spreading it around a few accounts if it is beneficial to do so.

Thanks.

xylophone

You have used your ISA allowances for this tax year and will use next year's? After that it's the best you can find!
http://www.thisismoney.co.uk/money/saving/article-1583859/Best-savings-rates-General-savings--Internet-branch.html

whookam

Yup, ISA's maxed out. Seems like for the short term they are all much of a muchness then.

Thanks.

innovate

If you mean "short term" as in "less than at least 5 years", it's not investing, but savings.

Savings rates are extremely dire, so you might do better with current accounts. Check out Santander 123, Lloyds and BoS Vantage, Nationwide FlexDirect - they pay a bit better if you are prepared to put in the effort. Lots of threads on these accounts if you search a bit.