Melch,
Nothing wrong with that, you'll get you more access and more liquidity. I have just cobbled together myself a smallish high risk portfolio based on natural resources; oil, cotton, gold, copper etc. So get the right basket of funds for you, look closely at the cost and performance of bog standard tracker funds if you're going down the bank route and make sure you have something in cash for emergencies.
If you're suitably inclined and a spicy outlooker though, if want some tax relief and don't need so much access, a VCT, EIS or MIP might be worth looking at. Failing that, if you have an other 'arf, and if he/she doesn't have a pension, consider topping up those contributions and/or paying off any expensive debt first.
HM Revenue & Customs: Venture Capital Trusts
HM Revenue & Customs: Enterprise Investment Scheme (EIS) and Partnerships
Either way, work backwards. Establish what you want to achieve, and extract back to establish current objectives and to minimise risk.