Best way to invest 15k

galloways

Hi can anyone tell me what is the best way to invest in 15k i have a morgage already and on top of things i have no loans or credit cards i'm not very clued up 'pretty new to all this' on the best accounts or isa if thats the best way to go any info will be great
thanks

fairtrade

If you want to invest the whole amount in one place NS&I index linked are paying RPI+1% tax free for 3 or 5 years.

galloways

fairtrade wrote: »

If you want to invest the whole amount in one place NS&I index linked are paying RPI+1% tax free for 3 or 5 years.

Thanks for the reply what does that mean exacly? rpi?

galloways

Anybody else tell me which way to go

Sceptic001

galloways wrote: »

Thanks for the reply what does that mean exacly? rpi?

Inflation as measured by the Retail Prices Index (5.3% in the previous 12 months).

mau408

Put as much as you can into your mortgage upto no EPC threshold.

dunstonh

Invest or save? You say invest in your title, but discuss savings (you mention accounts) in your post. Which is it ?

Anybody else tell me which way to go

We know nothing about you. We dont know what your financial situation is, taxation, emergency fund, future spending requirements, risk profile, mortgage rate etc etc So, it is impossible for anyone to tell you what is best as they could be right or wrong.

Newly_retired

Some suggestions - pay off any debts, pay off some of your mortgage, put more into your pension, keep 3-6 months salary in instant access savings (taxable), put £5100 into a cash ISA at 3% or more, lock some savings away for 2 yrs at a fixed rate ( I wouldn't personally fix for lthis long as rates may go up), get some NS & I index linked certificates. Your choice - or a mixture of these.

galloways

dunstonh wrote: »

Invest or save? You say invest in your title, but discuss savings (you mention accounts) in your post. Which is it ?

We know nothing about you. We dont know what your financial situation is, taxation, emergency fund, future spending requirements, risk profile, mortgage rate etc etc So, it is impossible for anyone to tell you what is best as they could be right or wrong.

That why i'm asking what is the best idea savings account or invest if you read my post i said i'm on top of thing and have no dept just a morgage which i can change next year if i find a better rate? I have a bit of money another account seperate to what i said hope this helps

M.Holloway

My friend has 10k in this http://uk.zopa.com/ZopaWeb/

He's seeing good returns, although its a mid-term investment (couple of years)

You essentially lend money to people, set your own rates.

The company boasts 8.1% return before bad debt (which you have to look out for) but if you're making lots of small loans that risk is greatly reduced.

stator

Put £5,100 into an easy access cash ISA. You can use this for emergencies, ie car dies, house repairs etc. Use one of the comparison websites to find one with a good rate.
If you think you might lose your job keep the rest in an easy access account too. Otherwise you can lock the remainder into fixed term accounts. £5,100 into a a fixed term 1 year account and when that ends you use it for next years cash ISA allowance. Lock the rest away for 2 or 3 years and you can get quite a good rate.
If you want to take more of a risk then you can put another £5100 into a Stocks and Shares ISA. Find an investment fund using a discount broker like Hargreaves Lansdown. Don't try to pick individual shares yourself unless you are willing to lose a lot of your money. I suggest putting it in an Ethical Investment fund by someone like Aegon. This should give you good returns over 5 years or so, but as always the value can go up as well as down so you could lose money.
If you are more concerned with saving money in the long term then pay it off against your mortgage either now if you are able to make overpayments, or keep it in an ISA until you remortgage down the line. I would always keep enough cash to cover 6 months of mortgage payments if you can though. You never know what might happen.

I am not a financial adviser, this is my opinion only and comes with no guarentee of suitability.