70k to invest

efes_shareholder

looking recommendations , I have approx 70k I need to put somewhere.
I already have the max holding of 50k in prem bonds. 
As we are all aware interest rates are pretty appalling so have looked for incentives for new banking accounts etc but not found much unless its a switch what I don't want to do.
The money needs to be accessible as I intend to use it to purchase a property , I can't do this at the moment as I am looking after my terminally ill mother in her home and need to be here. I will have additional funds available from inheritance at some stage so it makes sense to hold off.
Any recommendations ?

eskbanker

https://www.moneysavingexpert.com/savings/which-saving-account/
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Thrugelmir

The MSE guides are the obvious place to look for best savings rates. . 

Albermarle

If you need access to the cash in the next 5 years , then you should not invest it ( meaning invest in risk based financial products  like stocks and shares )and you do not have much choice apart from savings accounts .
https://moneyfacts.co.uk/savings-accounts/
If you are under 40 you could look at a LISA for £4kpa 

efes_shareholder

Albermarle said:

If you need access to the cash in the next 5 years , then you should not invest it ( meaning invest in risk based financial products  like stocks and shares )and you do not have much choice apart from savings accounts .
https://moneyfacts.co.uk/savings-accounts/
If you are under 40 you could look at a LISA for £4kpa 

thanks , I thought this was the case
I'm over 40 so can't access the LISA , will just cross fingers that prem bonds give me a good return

Albermarle

efes_shareholder said:

Albermarle said:

If you need access to the cash in the next 5 years , then you should not invest it ( meaning invest in risk based financial products  like stocks and shares )and you do not have much choice apart from savings accounts .
https://moneyfacts.co.uk/savings-accounts/
If you are under 40 you could look at a LISA for £4kpa 

thanks , I thought this was the case
I'm over 40 so can't access the LISA , will just cross fingers that prem bonds give me a good return

With a maximum £50K holding you should get a typical average return of 0.8/0/9 % . There is a chance of winning a million but the odds are incredibly long .