What to do with large amount of cash

Muzz1

Hi folks I'm in the process of selling my house.
The date of completion is the 22nd Of January.
As yet I haven't found any where to buy and I think I will rent for a bit until I find the perfect place.
Due to the fact I am downsizing this means that I will have approx 110K to save somewhere.
This cash will need to be accessed relatively easily so if I do find a house I can use the funds.
I'm really at a loss at what to do with the cash I don't want it sitting somewhere earning 0.25%!
I would like to earn something from it to cover the costs of renting.
Any advice would be gratefully received!.

bowlhead99

Muzz1 wrote: »

Due to the fact I am downsizing this means that I will have approx 110K to save somewhere.
This cash will need to be accessed relatively easily so if I do find a house I can use the funds.
I'm really at a loss at what to do with the cash I don't want it sitting somewhere earning 0.25%!
I would like to earn something from it to cover the costs of renting.
Any advice would be gratefully received!.

The standard thing to do is stick it in the monthly income bonds from NS&I (nsandi.com). That's government backed so no need to worry about the £75k insurance limit per bank or building society, and it pays a lot more than 0.25%.

If you want to go to more effort to get more than 1%, you can look at various high interest current accounts and spli some of the money between the best ones you find. See the savings link on the main site.