Shortterm (weeks) 100k

spider31

Hello,


We are in-between moving house so we have a lump sum, just over 100k.


We need to get it out just before we move, what the best place for it?


My current savings are all linked to my mortgage so that's going to make ZERO.


It will be in the savings for 5 weeks.


Thanks


Steve

Archi_Bald

You won't be able to make a lot from this but you can keep all your money safe in http://www.nsandi.com/savings

ColdIron

NS&I have no concept of 'quickly' so if you go this route I'd get onto it sharpish, perhaps kick it off by phoning them on [FONT=&quot]0500 007 007[/FONT]

Notfarfromtheborder

At 1% interest it might make you £100 in interest over 5 weeks, might be better where it is if you need to ensure you can get it when you need it, unless your current bank has alternative products that are not linked to your mortgage

colsten

Nobody should have more than £85K cash in any single financial institution, not even for a few days. NS&I is safe on higher amounts as it is UK government backed.

somethingcorporate

Who would want a 1 in 1000 risk of losing £7.5k when with little effort that risk can be reduced to 0?

Would you guarantee that money for the 1 in 1000 that DOES lose their money?

ManAtHome

OP is a "we" so should be covered up to £170k.

Who was the mortgage with - they may have some savings accounts you can open quickly. Is all the cash currently in your mortgage-linked (offset?) savings?