What's the best way for short term investment??

gemma.zhang

Hi All,


Need a bit advice here.:beer:
We're very blessed that Hubby's company took off, pls our ISA shares etc, we will have up to 100k in the next couple of months.

We live in a tiny two bed house, both in late 20s, no children. Considering the high risk of shares/stocks, thinking the best way would be to up-size for a bigger property in a better area. However, it will be half a year before we could sell and move. Wondering what's the safest / best way for short term investment before everything settles down and we're in position to move.

We have the sainsbury saving account at gross 3%. It can hardly beat the high inflation. Any idea would be appreciated.

Thanks all.

Ifts

What's the best way for short term investment??

Investments are usually only appropriate for the longer term, id say 6 months is a bit short for investing especially if you will require the funds soon to move up the property ladder.

If you want to save instead of invest, and you can put the money away for 6 months,
then Raphaels Bank are offering a Six Month Fixed Bond (issue 95) paying 3.3% Gross.
Bond may be opened in joint names giving you £100k protection.

Edit: Sorry the above offer of the 6 months bond is now closed

tradetime

Take a look at Investec High Five, and / or look at the best 1yr fixed term deposits on the market.

detectorman

If you decide to open an Investec High 5 account, take advantage of the £50 referral bonus. I would suggest depositing half the amount in your name and then referring your husband who would then deposit the remainder. £50 each would be received ie £150 in total. I would be happy to give you an initial referral. P.M. me for details.

Reaper

detectorman - every one of your 8 posts has been about Investec Referrals. You can not ask for referrals anywhere except on the Referrals Board, as I am sure you know because you posted there too.

Here is the link for anybody who wants it:
http://forums.moneysavingexpert.com/showthread.html?t=1469637
You will even find people there willing to give you some of their cut too.

detectorman

I was NOT aware that referrals could only be made on the Referrals Board.On reading the small print,I see you are correct. Thank you for your vigilance.

GaeGae

I am in the process of opening an account online but there is no sign of the referral bonus. Is it still available?

GaeGae

Oops soz, missed the link Reaper. Thanks

gemma.zhang

Thanks all for your reply! two questions:
1. wondering if it's better to upsize the house, even though the current shabby place is kinda enough. how about investing? I guess investing in shares / stocks are bit risky for us.

2. we have thought about overpaying now, considering we can't take it out again, guess it's better to save it now, rather than later borrowing more.

3. could someone explain how it works when we upsize, we need to find a mortgage or existing lender to borrow us the extra money ?


thanks again !