10k for four months approx

phoebe03cat

We have 10k waiting around for approx 4 months (could be three) for us to sort out problems and then have it built. :j We have remortgaged (just caught the capped for 5 years before it was pulled)

Looks as though opening new a/c on icesave or icici looks best option. At present in Lloyds current account. Would these be a good way to go, if so which, all comments really welcome. Many thanks (not used to this much hanging around!)

kingmonkey

I would open Lloyds online savings account. And put the money in there so that it is at least earning 5% while you open up either icesave or hisave

If you left the money in Lloyds savings account rather than hisave for 4 months then you would have lost out on £35.

The difference in icesave and hisave for 4 months would be £3.33.

I would apply for both and which ever you get set up first put the money there.

jamesd

You're right about the best approach: high rate savings accounts. If either of you isn't a tax payer put the money in that person's name to exploit their personal allowance and tell the institution that you are entitled not to pay tax on the interest.

phoebe03cat

Thanks very much for replies and for working out the differences!!!- a great help. Have got the Lloyds savings set up so it's now moved! Thanks again