Where to put £110k?

[chattykathy]

I'm about to sell a property and realise about £110k. I intend to buy another house within the next year so where would be the best place to put my money with regard to interest and access?
TIA

[Ann]

In my bank account! Interest? I'm interested! ;)

[Krausse]

Send me your e-mail address and I will reveal my sort code and account number. You send me the money and don't worry about it.

[owdhamer]

Owds well polished begging bowl, I can assure you there will be loads of interest.

[MarkRae]

One minute, Ann - not bad...

[ubasses]

Unless you know exactly when you need the money and can tie it up in a 6 or 12 month bond, you will be restricted to a notice account or instant access. Have a look at a site like Money Supermarket and see what interest rates there are.

[Prudie]

I'd look around for the best deal on an instant access account with a bank or building society.
http://www.moneysavingexpert.com/banking/

[237SJ]

In the current financial climate, you`re not going to get a huge return. I would put it into a notice account. The longer notice required, the better return but the return won`t be great.

[Ann]

Hardly worth putting it in a bank account - the amount of interest you get, would hardly pay the car park fee in town!

[237SJ]

Ann, even 2 or 3% max in a bank is better than nothing..

[Krausse]

But I could add it on to my next Treasury Reserve 3 month deposit and you will be so happy with your investment !

[factor-fiction]

Even though interest rates are really low the interest on that will be in the region of £40 -£50 per week depending on whether you pay tax on interest at source, so it's worth getting

[owdhamer]

Give half to Parkinsons Uk,half to Cancer research.You will feel better.

[Graham-W]

I am a Nigerian General and.....
Oh! No! That's the wrong way round, isn't it.

[chattykathy]

Thanks for the advice :)

[Ellipsis]

Do not lodge more than £85,000 in one financial institution. See

http://www.bbc.co.uk/news/business-12099592

[chattykathy]

Ah, great advice, Ellipsis, I'd forgotten about that!

[beckersjay]

You can get around 2.7 - 2.8% on an instant access account at the moment without too much trouble. To be safe, put the money in two different accounts, no more than £85,000 in each, so that the money is covered by the guarantee scheme.

[rosyposy]

Marks & Spencer have a one year fixed rate bond paying 2.95% terrible I know, but with F.R.B's you can't usually make any withdrawals in that year if you needed to, but with this one you can, but you have to withdraw the full amount to close it and you must pay £50 penalty charge. The ones paying 3% are abroad e.g. Bank of India, so M & S are the best of a bad lot at the moment I think. :o( -rosy

[flitty]

the coventry bs are doing a fixed rate poppy bond till 2014 at 3.25% with a small donation to the poppy fund by them.

[chattykathy]

Thank you rosy, I'll check that one out