Best investment types with quick withdraw options?

[Kiwi79]

Due to bailing out on a house a few months back I have deposit money split between two current accounts and a few ISAs.

We are likely to buy in maybe 4mth+ time as the otehr half is now gainfully employed. What would be a good investment/place to put the money where I can still have quick access but maybe get better return than current low low interest rates.

Any thoughts appreciated.

Thanks

[cs174]

Have you considered premium bonds? You won't earn any interest but will have a chance to win each month and your money is secure with relatively easy access.

[ellroy]

Look for accounts over 31 (?) days duration, that's the point where banks can actually use your cash for lending purposes so relatively speaking the rates are a little more attractive in the current climate.

Don't risk any volatility if you're intending to use the funds for a deposit in months few.

[JulianPH]

The best I can see is Mansfield Building Society paying 1.5% with 30 days notice and instant access with a penalty of 30 days interest.

You don't have to be local to the area but I would check that you can request your money can be transferred out without you actually having to visit a branch.

[Ginge R]

Kiwi,

Reading your post, you've got options - Julian's is a good one (is it worth waiting to see if inflation and lending rates go up this month, before committing?) and I'm assuming you've got a decent amount of money to set aside, so if you're looking at c.four months, also check out Bank of England Certificates of Deposit and/or the other types of commercial paper.

http://www.bankofengland.co.uk/statistics/Pages/ia...

Going via the High Street, this is an example of the sort of thing to look for (below). You can bump or ladder your money if you're not sure when you may need it, but if you also want to set aside a sum for a deposit. It's 'safe' (always a relative term) and not very rewarding at the moment. As always, do your own research and take advice that you trust, etc.

http://www.nationwide.co.uk/about/investor-relatio...

[anonymous-user]

Personally, if it's only going to be sat there for 4 months, I would keep it where it is. The extra interest you'll earn will be minimal and the faff factor will be high.

[Kiwi79]

Thanks for the suggestions chaps, it is a case of weighting up hassle factor vs interest gained. Some good suggestions for me to check out.