URGENT help required

lillytheboxer_2

Hi there,

I wonder if anyone could help me? I am being posted abroad (Germany with work) for 3.5 years and will be earning just over £4k a month (which will be free from German and UK income tax due to the nature of my work) so transfering the money back to the UK wont be a problem in regards to charges.

After a few calculations, I will be sending a minimum of £2k a month back to the UK for saving purposes. (£24k a year) I wont be needing access to the money for at least 3 years so my question is, where the hell do I put this money to gain the maximum benifits? It is my intention to apply for a mortgage when i return so this may have some bearing?

Thanks in advance

Matt

nrsql

Unfortunately at the moment you won't get much return - maybe look at regular savings accounts.
Probably better off with ns&i for security rather than chasiong the odd percent.
If you are away for that length of time I would also split the money into a local based account just in case you decide not to return

Jake'sGran

There are some bank and bldg society bonds paying reasonable rates if you can put it away for 2-3 years. I only like to use one year ones. Unit trusts/OEICs are getting popular as are bonds from people like M&G. They are paying out about 4-5% with a chance of capital growth too. If you have a look at some of he financial sites like Digital Look and Trustnet they show what people are buying at the moment. One of the most popular is Invesco Perpetual Income or High Income. Neil Woodford who runs it has a great reputation for doing well.
Otherwise you will have to put it a savings account paying up to 3% or so.
I fancy a punt on shares - utilities in particular.