Where to park an inheritance

dancingfairy

You'd probably want to split it either into a joint account and a single account or something similar. Frankly the chances of a bank failing are quite small I would think and 2 or 3 accounts, pragmatically would probably be fine ( there would probably be a small amount over the compensation limit but given the timescales and the risk of a bank having problems I think you'd be o.k).
I'd probably look at 1 year bonds, or a notice account so you can have relatively easy access to the cash.
Have a look and see what the best rates currently are.
Df

dancingfairy

You could each take out a cash isa each for the year to ensure interest is tax free but you may get higher returns by looking at a notice account or fixed rate account, even after deducting tax they may still be better. Df

macman

If your attitude to risk is low and you want easy access, then clearing the mortgage, (unless you can get above 1,49% net in savings accounts), £60K in Santander 123, and £50K each in Premium Bonds will take care of the bulk of your inheritance (£220K in total).

AndyT678

Guys this is an old thread from August and I suspect the OP is long gone. It was dredged up by some bloke who'd contributed some horrifically inappropriate suggestions rather belatedly objecting to someone pointing out that his terrible suggestions were terrible.