Hi all
my first post, so please be gentle. Very big fingers crossed, should be exchanging on my house sale next week (if buyer doesn't loose his job before then!!).

We are going to rent so will have £700k to invest. Every day dooms day seems to be getting nearer and we don't know where it will be safe to put our money.

Can anyone give some advice, also is Northern Rock still guaranteeing 100% of all deposits or has that dropped to £50k (was planning on putting £250k in there if 100% safe) or will it soon drop back to £50k.

I still can't believe what is happening at the moment and what concerns me most is that the majority of people don't realise how bad things are and that they are going to get worse. I still keep getting the line of its a blip and it will bounce back next year.

All advice appreciated. We have worked very hard to get to this point (plus a bit of luck), no hand outs or lotto wins, and I don't want to blow it now.

I've been surfing all night and I damned if I can work out where is safe to put my money when I get it out of Kaupthing. All the good paying accounts are risky eg, the AA account is Birmingham Midshires, part of RBS. RBS shares are down 40% over the last few days and are rumoured to need governmernt emergency funding. Looks like the next UK bank to go down to me.

N. Rock website says -

* Yes, your money is absolutely safe with Northern Rock.
* The Government's guarantee arrangements remain in place.
* Our plan sets out the basis for the removal of Government support, but this will take place over the next three to four years.
* For specific information regarding types of account and savings products, visit our website at www.northernrock.co.uk/savings or call our customer advisor team on 0845 600 7301.

BUT - who knows? and does that still mean 100%?

I was sure that I read on NR website that the great bond they had recently is not so great and is now 4.5% and max you can deposit is 25k.

NS&I is the safest place to put any large amounts at present. Not the greatest rates but safe as houses.

I am also sitting on a large wad and will wait to see what eyebrows says tomorrow at 7am.