Where to put savings?

[itsallopticsanyway]

DH and I have recently been gifted a chunk of money. I know interest rates are looking poor at the moment, understandably, and I'm not too concerned about that at the moment as we're looking to spend parts of it on a house renovations and paying a lump off of the mortgage etc so we'll never be earning significantly from it anyway.

But - with a recession looming etc where is it safest? With a big well known bank? With a smaller provider?

Depends how much. The most secure place is probably Premium Bonds up to £50k. Easily accessed and the possibility of winning some money but no interest so inflation will eat into the capital.

Premium bonds, ISA (I buy tech stocks and I'm up 30% in two years), SIPP for long long term.

If it's more than 50k, property is probably best.

Don’t put more than £85k in each bank. Ensure whichever you choose is covered by the FSCS:

www.fscs.org.uk/