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Where to put money Lpsh

Posted: Wed Mar 08, 2017 7:15 pm
by landtag
Hi, I have £230,000 about to go into my bank account (profit from sale of house) I shall be moving in with parents until a suitable house or project comes up. Does anyone have any advice on where to put this money? I estimate I will be at parents for around a year. At the moment the money will just be sitting in my Natwest Account. Any advise would be appreciated. Kind regards.

Posted: Wed Mar 08, 2017 11:15 pm
by dggim
Start by checking out NS&I. Think they pay 0.75% thesedays. Natwest pay practically nothing, if I recall correctly.

Posted: Thu Mar 09, 2017 10:51 am
by reimport
Open all the interest paying current accounts, and all the decent regular savers.



http://www.moneysavingexpert.com/savings/savings-loophole



http://www.moneysavingexpert.com/savings/best-regular-savings-accounts



That will deal with a not unreasonable chunk of it. For the rest other people can advise better than me. You could get approx 1% on instant access savings (West Brom do a 1.05% instant access), or around the same on premium bonds. You could take some risk like P2P/investments for higher returns (with potential for some loss). You could put £1000 into ratesetter for the £100 welcome bonus for example

Posted: Fri Mar 10, 2017 1:18 am
by opticvs7



Open all the interest paying current accounts, and all the decent regular savers.



http://www.moneysavingexpert.com/savings/savings-loophole



http://www.moneysavingexpert.com/savings/best-regular-savings-accounts



That will deal with a not unreasonable chunk of it. For the rest other people can advise better than me. You could get approx 1% on instant access savings (West Brom do a 1.05% instant access), or around the same on premium bonds. You could take some risk like P2P/investments for higher returns (with potential for some loss). You could put £1000 into ratesetter for the £100 welcome bonus for example
Originally posted by fun4everyone


It's really not worth doing this if you might need the money within a year. Just put it all in NS&I or split between three highest paying instant access accounts.

Posted: Fri Mar 10, 2017 10:34 am
by donavon
I would use NS&I or an instant access savings account paying interest.



You are covered for the whole balance for six months with home sale proceeds, so you can then decide later what you may want to do, also worth using ISA's as the text year is ending soon.



Westie983

Posted: Fri Mar 10, 2017 2:53 pm
by business_man
Maximum into Premium Bonds - you MIGHT win and be able to buy a much bigger house :-)

The rest into NS&I - simple and easy.