Lump sum to invest for a short period of time ?

welchb

Hi Folks,

Following the sale of a property and subsequent re-payment of outstanding debts etc... I have a lump sum -- which will be in the region of GBP 50k.

This money will be used as a deposit/fittings and general purchase of a new property and we are activily looking now but want to find the 'right' place without rushing in so am considering to look over the next 6 months (or more) --- obviously if something comes up we'll need the money.

Question is --- for the realtivily short tem is there any suggestions on how to invest this sum ?

The only real consideration would be we would need instant access.

Thanks,

Brian

nzseries1

Start by reading this article for all your options -
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Gwhiz

welchb wrote: »

Hi Folks,

Following the sale of a property and subsequent re-payment of outstanding debts etc... I have a lump sum -- which will be in the region of GBP 50k.

This money will be used as a deposit/fittings and general purchase of a new property and we are activily looking now but want to find the 'right' place without rushing in so am considering to look over the next 6 months (or more) --- obviously if something comes up we'll need the money.

Question is --- for the realtivily short tem is there any suggestions on how to invest this sum ?

The only real consideration would be we would need instant access.

Thanks,

Brian

Has to be a bank!

welchb

OK guys -- many thanks for that.

Looks to me that the Abbey 2 year Bond maybe the way to go all things considered.

1) They seem to be reputable and financially viable with no immeadiate problems.
2) We are looking at, at least 6 months poss longer
3) The terms for early withdrawel of this are 120 days loss of interest if you draw down earlier than the term -- which considered the rate I'd be prepared for given may need quick access.

Appreciate the answers and help.

Thanks,

Brian