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where shall I put some cash

Options
I took out some equity from my property to buy a second flat but the purchase fell through

I have now 100k I don't know where to keep it (never had that sort of cash) till I find something else, it may happen shortly or may not happen for a while

What would you do?

I have been banking for donkeys years with Santander(Abbey - Abbey National) I ve the 123 c/a, and I have no idea of what else is available

T I A

Comments

  • eskbanker
    eskbanker Posts: 36,990 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fill the 123 up to the £20K limit (for earning 3% interest) and open a second one for another £20K, ensuring you set up a couple of DDs and a minimum monthly payment for the second one.

    Theoretically you can find homes for something like another £50K earning 3-5% in about 10-12 further current accounts but opening such a large number in a short period of time isn't usually viable, so you'll probably be best going with the top-paying instant access savings at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest.

    Other options include National Savings (no need to worry about £85K protection limit but below average rate) and Premium Bonds for up to £30K (again below average returns but always the chance of a decent win).
  • Vales
    Vales Posts: 14 Forumite
    thanks that is a lot of stuff I need to check out

    I did not know that I could have a second account in my name at the same bank and still fill up to the max

    thanks for now
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