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£130k to Invest
MissHap
Posts: 69 Forumite
I've been pointed to this forum by another thread in the savings and investments forum, hope you can help.
I mentioned the likes of First Direct, Skipton BS, Co-Op bank offering 7% which piqued my interest.
My situation.....................the completion on the sale of my 90 years old fathers house is due by the end of this month, I hold POA.
He's in a care home and the house is to be sold to pay for his fee's.
He's not in the best of health so long term investments are out of the question.
I've plans for most of the money, if I can get in under the wire, a fixed rate cash ISA for this tax year and the same for next, top up his premium bond account which will give me access to a monthly withdrawal for his care home fee's, and this will leave me with around £150k to invest.
He currently holds a current account with Halifax but there interest rates on ALL products are miserly to say the least.
My thoughts are in 2 annual savings accounts that pay a high interest for no withdrawals and when the year is up, re-evaluate the financial position.
The fly in the ointment is as I hold POA I will have to open the accounts so only institutions that allow this are suitable.
Any suggestions would be gratefully appreciated.
I mentioned the likes of First Direct, Skipton BS, Co-Op bank offering 7% which piqued my interest.
My situation.....................the completion on the sale of my 90 years old fathers house is due by the end of this month, I hold POA.
He's in a care home and the house is to be sold to pay for his fee's.
He's not in the best of health so long term investments are out of the question.
I've plans for most of the money, if I can get in under the wire, a fixed rate cash ISA for this tax year and the same for next, top up his premium bond account which will give me access to a monthly withdrawal for his care home fee's, and this will leave me with around £150k to invest.
He currently holds a current account with Halifax but there interest rates on ALL products are miserly to say the least.
My thoughts are in 2 annual savings accounts that pay a high interest for no withdrawals and when the year is up, re-evaluate the financial position.
The fly in the ointment is as I hold POA I will have to open the accounts so only institutions that allow this are suitable.
Any suggestions would be gratefully appreciated.
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I've read post friolento and it hasn't really eased my mind.
There seems to be a lot of hoops to jump through with a lot of banks not even offering you the opportunity.
I can open up what I need to do with Halifax and I may have to do this rather than jump through said hoops, most of the banks that accept POA you need to do so I branch,0
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