Reinvesting 50k

Gillybean

My husbands grandmother has a bond which is currently worth around £50k. The way in which the bond is operating is changing and she's no longer happy for her money to stay there. Basically they are commencing using a third party company to invest money for them, and anyone wishing to release their money may have a long wait.

So she wants to get her cash out of there, but none of us have any idea where to put it. The one thing she has said is that she wants to be able to access it easily (potentially doing some work on her property so may need it for that). And she wants something simple that she can understand.

Where do we start?

Nual

For safety and easy access, look at NS&I. Rubbish interest rates though so inflation will gradually erode

ColdIron

Tesco Internet Saver at 1.2% with bonus? Easy to open and operate

xylophone

If she wants to stay in cash, she could open a Santander 123, transfer over her household DDs and keep topped up to £20,000 - she'll be able to make payments for the improvements as they occur and if the cashback covers the fee she might be able to achieve the 1.5%

Hold the balance in a savings account, transferring to Santander as required.

http://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html