A beverage preparation apparatus with a three-way valve that includes an inlet; a first outlet; a second outlet; a first member movable between first and second extreme positions under the influence of liquid flow from the inlet to the first and/or second outlets from the first extreme position towards the second extreme position which closes off the first outlet so that the liquid flow then extends from the inlet to the second outlet; a second member which is freely moveable under the influence of a liquid flow from the inlet to the second outlet between a third and fourth extreme position wherein under the influence of the liquid flow from the inlet to the second outlet, moves from the third extreme position to the fourth extreme position and in the third extreme position blocks a liquid flow from the second outlet in the direction of the inlet.