£375K short-term savings

shellbelle21

Hi everyone!

My mother-in-law has kindly enlisted me into helping her.....

.... she has recently sold her house, and because of the housing market at the moment, plus the lack of suitable properties available in her area, has decided to rent until she finds something.

As a result, she has £375K sitting in her bank account earning very little interest. She does not want to put the money anywhere she cannot get to it quickly/easily should she need to, but as far as I can see, the best savings rate she can get is about 6%. Does anyone have any advice for this amount of money?

Also, I've read about only the first £35k being secured in banks should anything go wrong. Would it be foolish to put more than this amount into one account??

Any advice would be welcome!!

Thanks in advance

deaglecat

Northern Rock.