Where to invest a lump sum for 3-6 mths 26 October 2004 at 10:22AM in Savings & investments 2 replies 1.1K views

mcmilal

I will be receiving proceeds from the sale of my house (approx £120,000) and will not be using it to buy again for probably 3 - 6 months, perhaps more. However if the right house comes up tomorrow I may need the money in a around 2 months. Any tips welcomed.

Robert_Sterling_3

In a no notice account paying 5% or more with a well known bank or building society which you have heard of..
Check the best buy tables for the best rate available.

Milarky

I would suggest Egg Internet savings is worth a look since it will pay Base Rate + 0.75% for the first six months* after opening. Very handy account - can be used to pay bills (etc) via BACS payments out and is funded from any bank account you hold with a debit card. [* for a limited period since 21 October - may be withdrawn at any time - so best best is to open with £1 initially]

Nearly as good is ING - paying 5% at the moment. This can be operated by phone OR internet. Links to up to three bank a/c provided they have cheque books. Pay in by 'direct debit' [with two days notice] and back again by 'bank credit' to your bank a/c. Not as flexible as Egg but an easy to operate account.