Long term investment with standing order option

Hi, Hansi

I did mean to answer your question :-) - the only savings account I can find which allows standing orders is the Halifax Web Saver, which pays 4.9% variable. You could perhaps put one year's worth of fees into an instant access account and put the rest into a series of fixed term high interest accounts, maturing in one, two and three years' time. The interest on these could be left within the accounts or you could arrange for it to be paid monthly into the instant access account.

DD - The way I was looking at it was that from the point of view of the person in the home, it is comforting to know ( with the annuity ) that the care home fees will be paid no matter how long you are there - if you pay the fees out of capital, there would be a constant worry that the money might run out. And there is no way of investing £100000 that will bring in a secure income of £12000 - £25000 pa which is what I understand these homes cost.

Cheerfulcat