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  • FIRST POST
    • rutterc85
    • By rutterc85 8th Sep 17, 2:06 AM
    • 3Posts
    • 6Thanks
    rutterc85
    Help to Buy Loan Savings
    • #1
    • 8th Sep 17, 2:06 AM
    Help to Buy Loan Savings 8th Sep 17 at 2:06 AM
    Looking for the best and safest way to invest my savings to pay off the Help to Buy loan within the 5 year interest free period. It will need to be a joint account whereby we can pay in £1200 per month over the five years, as well as the option to easily add more when we have spare funds, we won't need to touch the money until the 5 year period is over.
Page 1
    • bigadaj
    • By bigadaj 8th Sep 17, 6:11 AM
    • 9,968 Posts
    • 6,360 Thanks
    bigadaj
    • #2
    • 8th Sep 17, 6:11 AM
    • #2
    • 8th Sep 17, 6:11 AM
    Safest would imply little to no risk and over five years then investment is probably too risky.

    Have a look at the bank account section in the main site, best returns are on regular savers, though they generally only run for a year at a time, 5% available on nationwide, HSBC, m&s and first direct which would take all your monthly allowance. You need to have or open current accounts with each of the banks to get the rates indicated.

    After a year it becomes more difficult, particularly when you then have a lump sum of £15k, you're then looking at 2-3% pretty much maximum using either current accounts or fixed term savings accounts.

    P2p would give higher returns but you are back into the risk territory.
    • Eco Miser
    • By Eco Miser 8th Sep 17, 9:15 AM
    • 2,983 Posts
    • 2,762 Thanks
    Eco Miser
    • #3
    • 8th Sep 17, 9:15 AM
    • #3
    • 8th Sep 17, 9:15 AM
    It will need to be a joint account
    Originally posted by rutterc85
    Why? Save half each, or even one third each and one third in a joint account. Nationwide FlexDirect (3 times £2500) and Flexclusive Regular Saver (£250 pm times two), all at 5% for the first year would be a good start. Actual investments are not recommended for only 5 years, especially drip-fed.
    Eco Miser
    Saving money for well over half a century
    • rutterc85
    • By rutterc85 8th Sep 17, 9:38 AM
    • 3 Posts
    • 6 Thanks
    rutterc85
    • #4
    • 8th Sep 17, 9:38 AM
    • #4
    • 8th Sep 17, 9:38 AM
    Why? Save half each, or even one third each and one third in a joint account. Nationwide FlexDirect (3 times £2500) and Flexclusive Regular Saver (£250 pm times two), all at 5% for the first year would be a good start. Actual investments are not recommended for only 5 years, especially drip-fed.
    Originally posted by Eco Miser
    That's a good point, was just thinking of joint as it made it easier.
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