Short (ish) term - high interest - accessible

[Sea-Doo]

Afternoon.

I am moving house this month which will release circa £425k equity back into the bank.

I am buying another house project so will need regular access to this from about Xmas onward to draw down from for building works etc.
Estimate 50% of it used within 6-9 months.

I currently have a Santander savings account with 2.49% interest paid monthly (I also bank with Santander), so opened it for ease.

However, after googling there seem to be various savings accounts at 4+% available with monthly interest.

Looking for advice on what you would do, obviously not looking for any risk.

TIA

[mattlovescars93]

Monzo is offering 4.3% next day access and is absolutely effortless to manage if you have a Monzo account, can’t see any upper limits, interest paid first off the month and it tells you how much interest you’ve earnt daily which is nice.

[Silvanus]

mattlovescars93 said:

Monzo is offering 4.3% next day access and is absolutely effortless to manage if you have a Monzo account, can’t see any upper limits, interest paid first off the month and it tells you how much interest you’ve earnt daily which is nice.

I'm a Monzo account holder and put some money into their savings account yesterday. They have a couple of savings options which are all provided by other banks, all are protected too which is good.

[C69]

Remember that FSCS protection for 'temporary high balances' (up to £1m) only lasts for six months since the funds were first deposited. After that, you'd have to split the funds between separate banks or building societies.

If you do want to keep it all in one place, one option is NS&I Income Bonds. The rate isn't brilliant, though (currently 3.65%).

[GT4P]

Leeds were doing instant access 5.2% a few days ago, shame you probably missed the recent Santander 5.2%

[GT4P]

Sorry Leeds 5.10% it was Coventry that is 5.20%

[MaxFromage]

You'll be paying tax on it in instant access, so I'd look at mixing in some short dated gilts to minimise the tax.