Nimbus

Sale of our house is going through and we will be living with in-laws for about a month before we can move into our new place. After paying off existing mortgage we will have £85,000 laying about until we buy the next house. Where can we put it to get a bit of profit for the month or so we will have it. Needs to be v low risk. I'm not sure if there will be anywhere other that a normal bank account.

I know I can go to an IFA about this, but thought I would see if anyone here has any ideas...

Cheers

midget1500

buy a load of drugs and cut them then sell them on. double your money!

dnb

Make sure you can get your hands on it in a hurry when you buy the next house. IMHO it's much more important than the interest rate.

We got stung by the Abbey National (their rate was the best at the time) and their web account - they wouldn't let us have our money back - it nearly cost us the new house, and I had to be quite nasty with them on the phone before they would let me have the money - then they tried to charge me for transfering the money. I wouldn't use them again.

I rate the Halifax websaver for good service - they let you do as you like with your own money. And the last time I looked it wasn't a bad rate - can't remember, but I think it's monthly interest...

Have you thought about a "One Account" or similar - sod all interest paid for being in credit, but it'll make the purchase really simple, as you'll not have half the silly money transfer issues that mess up house purchasing etc...

I'm no financial expert, but sometimes the simple way makes sense, even if it "costs" you a bit in interest.

Tiggs

i am a financial expert and agree

edit as im not a spelling expert!

[Edited by Tiggs - 7/17/2003 11:48:12 AM]

ChrisB

Is 4.3% AER with ING Direct any good?

"No catches, no fees and no penalties
Just a simple, straightforward savings account with a high rate of interest.

No restrictions on your money
Your money is free to go in or come out whenever you like."

Old_Fart

Got a bit of dough in Cahoot. I haven't tried transferring large sums, though I'm sure you could do it through CHAPS. I did buy an STI8 with the debit card though .
In the end, if you are a higher rate taxpayer, you are 'only' talking about £42 a month per 1% (ie 4% pays £170, 3% pays £128), so don't kill yourself over the rate, go for convience and security.
Chuck

stevebt

iTrader: (8)

ive got a scheme which will give you 300% back just give the money to me and ill invest it wisely

polarbearit

Was thinking the same myself...

Just about to sell my house for a relocation where I will have accomodation for 6 months!

ING one looked about the best.

stephen emery

prem bonds

stephen emery

prem bonds