Selling house, will have £60k to invest,, where??

weaselsden

As the title says, we will be selling our house and should have £60k profit, what should we do with it? Where is the best place to put it to make money on it? Any advice would be greatly appreciated..
Thanks

dunstonh

what should we do with it? Where is the best place to put it to make money on it?

About 60,000 options out there to consider. Any chance of narrowing down the options a bit?

weaselsden

We only want something short term, ie we will want access to the money within 6 or 12 months? Just want to be headed in the right direction for investments, or is it just as easy to put straight into regular savings account?

dunstonh

You want to avoid investing. Your term is too short. Although you could invest, the risk would be to high for the inexperienced or ordinary investor.

You should stick with savings accounts with this money.

Hawksmuir

So where are you living ?
No house and loads of money, thats not for me

stu3105

try investing £30k each in premium bonds,you never know your luck!!!!!!!!

Deemy

weaselsden wrote:

As the title says, we will be selling our house and should have £60k profit, what should we do with it? Where is the best place to put it to make money on it? Any advice would be greatly appreciated..
Thanks

The Alliance Leicester account at 5.15% looks good for instant access.

Perhaps you should fix some of it, so as your not tempted to spend ?

In which case take a look at the Heritable 3 year fixed rate bond at 5.01%.

And don't forget your CASH ISA allowances

jem16

Deemy wrote:

In which case take a look at the Heritable 3 year fixed rate bond at 5.01%.

The OP said that they wanted access to the money within 6 to 12 months so a 3 year fixed rate bond wouldn't be much use to them.

Deemy

jem16 wrote:

The OP said that they wanted access to the money within 6 to 12 months so a 3 year fixed rate bond wouldn't be much use to them.

Oh.. yeh ... later in the thread

In which case the The Alliance Leicester account at 5.15% still looks good

luke101_2

Are you sure you only want to invest for only a short time. If you go long term you can live off of the interest you get. if you go with one of the managed accounts they may put a hold from withdrawing for about a year. But you will get a nice profit.

Also, if you are really worried about losing that money just invest 15% of it and put the rest is a CD account.