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[Lizzie_Zoom]

I've £3000.00 to put into an account, i would like to be able to get at it as of when it's needed & i was wondering what's best.
I already have a maxed out cash ISA so that's not an option.
Does anyone have any recommendations as to which bank, building society or the like that would give me a good rate of interest & instant access.
Any suggestions greatfully received

PS. your account is not an option

If you don't want to treat your better half to a replacement car, diamond ring, neckless or a two top designer dresses, then I recommend you invest in GOLD bullion!  

It is the only safe commidity that is gauranteed to hold its value and give you a good return.

Failing that just make sure wherever you place it the Government has a full money back guarantee in place.

£3,000 invested in gold 12 months ago would now be worth only about £2,700.  

Find a high interest savings account and stomach the income tax or, just a thought, take a longer term view of the stock market. I hear that's quite low at the moment....  :-/

I thought of the stock market, but i may need to get my hands on the funds quickly. It looks like a high st account, which was my earlier question= which one :-/

The price of gold has just dipped, as it will every so often, but the long term trend is always upwards on a real piece of valuable commodity, unlike stocks and shares that purely have paper worth and unless you know exactly what shares to buy and when you can loose a lot of money as many have found out recently.  Indeed Gold is still more valuable now than it was 12 months ago - refer to chart below:

Gold Prices over the last 10 Years:



Anybody who requires further information on gold prices should go to:
http://i282.photobucket.com/albums/kk247/lizziefreeman/GoldPrice.gif

That chart clearly shows that gold is standing about $70/ounce less than 12 months ago i.e. a 10% reduction.
Birmingham Midshires Instant Access currently pays 6.52%.  

The chart shows a reduction in Oct 08 yes, but Oct07 (the chart actually shows it a month later at Nov 07) records it was at the same price, give or take a dollar, and anyway look at the 10 Year trend; as I stated Gold is always a safe long term investmen as the chart clearly reflects.

[waspy]

I've £3000.00 to put into an account, i would like to be able to get at it as of when it's needed & i was wondering what's best.
I already have a maxed out cash ISA so that's not an option.
Does anyone have any recommendations as to which bank, building society or the like that would give me a good rate of interest & instant access.
Any suggestions greatfully received

PS. your account is not an option

If you don't want to treat your better half to a replacement car, diamond ring, neckless or a two top designer dresses, then I recommend you invest in GOLD bullion!  

It is the only safe commidity that is gauranteed to hold its value and give you a good return.

Failing that just make sure wherever you place it the Government has a full money back guarantee in place.

£3,000 invested in gold 12 months ago would now be worth only about £2,700.  

Find a high interest savings account and stomach the income tax or, just a thought, take a longer term view of the stock market. I hear that's quite low at the moment....  :-/

I thought of the stock market, but i may need to get my hands on the funds quickly. It looks like a high st account, which was my earlier question= which one :-/

The price of gold has just dipped, as it will every so often, but the long term trend is always upwards on a real piece of valuable commodity, unlike stocks and shares that purely have paper worth and unless you know exactly what shares to buy and when you can loose a lot of money as many have found out recently.  Indeed Gold is still more valuable now than it was 12 months ago - refer to chart below:

Gold Prices over the last 10 Years:



Anybody who requires further information on gold prices should go to:
http://i282.photobucket.com/albums/kk247/lizziefreeman/GoldPrice.gif

That chart clearly shows that gold is standing about $70/ounce less than 12 months ago i.e. a 10% reduction.

Birmingham Midshires Instant Access currently pays 6.52%.  

Music to my eyes   Thanx matey

[albitz]

It has just come off an all time record high though,so it could drop considerably for a while before it starts to climb again,so it would possibly need to be a very long term investment.
Nickbat will probably fill us in on the details for the next few years  when he reads the thread.

[waspy]

It has just come off an all time record high though,so it could drop considerably for a while before it starts to climb again,so it would possibly need to be a very long term investment.
Nickbat will probably fill us in on the details for the next few years  when he reads the thread.

Until he gets to the shoes & hand bags

[tmx]

Dont stick it in the Halifax have you seen HBOS's Share price? 60 odd pence

[albitz]

Tell me about it. I,m a shareholder
around 18 months ago they were over £11, I wanted to sell but was talked out of it by swinw.

[tmx]

and me! £11 this time last year as you say!

[Mr Skrunts]

Watch out Pete  you might get Skruntie coming out in competition with you  

Flipping eck, what have I done wrong now. :-/

[LaserLance]

Watch out Pete  you might get Skruntie coming out in competition with you  

Flipping eck, what have I done wrong now. :-/

just read the previous quotes  

[Mr Skrunts]

Watch out Pete  you might get Skruntie coming out in competition with you  

Flipping eck, what have I done wrong now. :-/

just read the previous quotes  

Just been catching, dont think I would be up to Lizzie's impecable high standards.  :-/

[Nickbat]

Please note : I am not a financial advisor or economic guru. This is just me thinking out loud!

Lizzie is right in many respects, in that gold is a safe have in times of uncertainty. However, let's look at this from a practical point of view. Buying gold shares (i.e owning paper based on the gold price, rather than the metal itself) is risky - just like owning any other shares. Buying physical gold is fine, except you can't go and buy gold bars off the peg and stick them under the bed. Plus, if you want to convert it, or part of it, into instant cash it's not exactly convenient.

Then of course, you have to consider exchange rates. There is a current flight into the dollar and yen (putting pressure on sterling), since these two currencies are seen, like gold, as safe havens. Since gold is price in dollars, its value is further increased. Of course, you could just buy dollar cash to take advantage of its strength.

My guess is that the advice offered on here with regard to savings accounts is as good as any. There is a risk in any investment. Having said that, premium bonds and other government-backed assets obviously carry the least risk.

When all this guff about recession is over, however, I think there will be some genuine bargains to be had on the stock market and in property, both commercial and residential. Apparently they are selling new-build maisonettes locally on a "buy two, get one free basis".  

And before you ask  , I have no idea when the recession (that the media are clearly encouraging) will end. Could be short-term or long-term. At the moment, I would say it's impossible to read. As a result, it's equally impossible to "read" the bottom of the market.  

[cem_devecioglu]

Please note : I am not a financial advisor or economic guru. This is just me thinking out loud!

Lizzie is right in many respects, in that gold is a safe have in times of uncertainty. However, let's look at this from a practical point of view. Buying gold shares (i.e owning paper based on the gold price, rather than the metal itself) is risky - just like owning any other shares. Buying physical gold is fine, except you can't go and buy gold bars off the peg and stick them under the bed. Plus, if you want to convert it, or part of it, into instant cash it's not exactly convenient.

Then of course, you have to consider exchange rates. There is a current flight into the dollar and yen (putting pressure on sterling), since these two currencies are seen, like gold, as safe havens. Since gold is price in dollars, its value is further increased. Of course, you could just buy dollar cash to take advantage of its strength.

My guess is that the advice offered on here with regard to savings accounts is as good as any. There is a risk in any investment. Having said that, premium bonds and other government-backed assets obviously carry the least risk.

When all this guff about recession is over, however, I think there will be some genuine bargains to be had on the stock market and in property, both commercial and residential. Apparently they are selling new-build maisonettes locally on a "buy two, get one free basis".  

And before you ask  , I have no idea when the recession (that the media are clearly encouraging) will end. Could be short-term or long-term. At the moment, I would say it's impossible to read. As a result, it's equally impossible to "read" the bottom of the market.  

You cant read because the crysis is being manipulated..Very hard to proove I know..But after this much of money being injected the markets behaviour are abnormal..

[cem_devecioglu]

One unlogical move is :

my country give really very high interest rates but interestingly the hedge funds are converting them to US$ with  ridiculous currency rates (nearly % 40 loss in conversion only) ..

[pete.h]

On a previous point ,I think Bimingham Midshires is part of the HBOS group, so isn't actually a building society as such.
In theory the traditional Building Societies may be safer than Banks because of the way they raise funding .
They aren't always striving for higher and higher profits for shareholders for a start.(although that one has backfired on the banks a wee bit recently)
Another thought is if you can think of something fairly valuable that has been in the doldrums for a while, then that could be the thing to go for if you want an exciting time .
Remember Aston Martins and the like in the last recession . Cars you could pick up for £5000 were fetching £20000 a couple of years later.
Bit of a gamble cos a few years after that they were back where they started.
Point is there's still a fair bit of money swilling around looking for a money making home.
If I can think of what that home will be I'll post it on here.
Or maybe I won't !!

[Martin_1962]

Some banks are blaming Robert Peston for the recession