Where to put a large amount of money?

[VHG]

My mother died earlier this year, my father died 10 years ago, so the family are in the process of selling their house.

There are 4 of us to split the money between, but the estate is fairly large and even after inheritance tax I could still get over £100,000.

What is the best thing to do with this money in the fairly short term (and dont say "give it to me")?

I am not sure what I may do with it, I may sell my current house and buy a larger house, on the other hand I may stay put and just leave it in a bank account for a while.

So where is the best place to put it, bearing in mind I MAY want access to it (so dont want to lock it up in an account for years).

I also dont want anything "risky", just somewhere that earns me a nice steady interest.

[factor-fiction]

Have a look here. There are some instant access accounts paying 3.25%
http://www.moneysavin...ts-best-interest#krbs
You cold get a fraction more in a 1 year fixed account for some of the money if you wish.

[emeritus]

In addition to Factors suggestion you could try some Premium Bonds as well.

Also don't put it all in one institution as you are only covered for up to £85000 compensation in the event of a Bank failure unless its in Joint names.

[factor-fiction]

Yes, spread between 2 institutions- although personally I think that if ever a major bank went bust and the protection arrangements had to be used then all the banks would follow and the economy would collapse anyway.
If you pay tax (on earnings, pension + savings) you should maximise your ISA allowance too.
I'm not sure about premium bonds- is there still a waiting period of a few months before you are eligible for prizes? VHG may need the money before he wins any prizes