180k to invest for 6 months, but where?

aroominyork wrote: »

Correct. There was a hyperlink (albeit a faint one) in my original post. They used to be called Church House Trust (at one time I think owned by Virgin Money) and re-branded a year or two ago. They have very good rates (and in the past were even better) and offer very personalised service - eg sweet old ladies on the phone. I have used them for a while and found them very efficient.

Sounds good, is this bank covered by the FSCS and what is the interest rate please? I do like the sound of the customer service as I need all the help I can get! Thats why I've been with First Direct since it started. :j

ValiantSon wrote: »

You can get 1.3% with Tesco Bank or 1.35% with ICICI Bank.

If it ends up being in longer than expected, be aware that the ICICI rate is only until 31st January 2019. Other than that there are no negatives I can think of.

If you are considering the Bank and Clients' six month notice account then it's worth noting that you can get a better rate from Secure Trust Bank who are offering 1.66% on a 180 day notice account , or 1.56% on a 120 day notice account.

After all the advice, very much appreciated, I am leaning towards spreading my money in Savings accounts as I have more of an understanding of how they work plus I'm not sure of how long it will take for me to find and buy a house so notice periods might complicate.
Also I am concerned about using unknowns when the money will ultimately be used to buy my home. I had a look at the Tesco account but it pays interest annually only with a bonus after one year so this doesn't seem to work if I may need the money in about 6 months or so. The same with ICICI. The Ford Money account seems to be ok as it pays interest monthly and if I find a house sooner than expected it wouldn't be a problem. Of course I now need to find another bank offering a similar deal. Does anyone have any suggestions as I've only been able to find ones that pay interest annually?

ColdIron wrote: »

If you close the account after 6 months or whatever they will pay all interest, standard and bonus, accrued to date. Most easy access accounts work like this

ColdIron- Thank you. I'm just a bit unsure of the interest rate as the annual bonus seems to be included within the rate and I will most likely only be using the account for about 6 months until I find and buy a house.

ColdIron wrote: »

They will pay you interest at the standard rate (0.55%) around the end of March as this is the date they pay all standard rate interest, just leave this in your account. If you close the account in August or whenever they will pay you whatever interest you've earned since March at the standard rate and all the interest at the bonus rate (0.75%) since you opened the account. You don't need to wait for anything, you will get every penny owed when you close the account

Coldron- Thanks again. I've applied for the Tesco and Ford Money Savings accounts. It may take longer than usual apparently to verify my ID as I moved into temp rented last week until I find a house to buy.