Where to save £100k for 6-12 months?

DannyDingo

I am looking for a good place to put £100k that I have inherited. It's only for 6-12 months as I am planning to buy a house then.
I don't have a mortgage and I have already £20k in Santander 1-2-3 (they only pay interest on 20k).
So any suggestions on where to save that amount of money for such a short period of time?

badger09

Have a read around the forum. There are dozens of threads asking the same question, though the amounts involved vary.

For maximum interest, open multiple current accounts

For an easy life, look at NS&I where you can just put the whole £100k without needing to worry about FSCS protection (which will reduce to £75k per financial institution in January)

For a bit of a gamble, put £50k in Premium Bonds and the other £50k in either of the above.

All suggestions are based on you being single and having no debts.

DannyDingo

Thanks for your reply.
Yes I have had a browse in the forum but I couldn't really find any good answers but I'll have a look again.
And no I'm married but we don't have any debts.
Cheers

xylophone

The point is that six months is a short time for going to the trouble of setting up multiple current accounts which would give you the best interest.

The simplest solution is NS&I.

However, you can have three 123 accounts one joint and two sole.

One joint and two sole LLoyds Club.

One joint and two sole TSB Classic Plus.

One joint and two sole Nationwide Flex direct.

Three BOS accounts with Vantage each.

Then Tesco.....

and so on.