Advice please best way to invest money

romany

We are putting our house on market in January and after paying off loan should have approx £150,000. We have got a motorhome which we plan to live in and travel around europe indefinately. But what should we do with money? Get £60,000 premium bonds? Get a BTL mortgage with deposit of £40,000(if thats possible). Buy apartment in Bulgaria or some other emerging market? Any advice greatfully received.

Sapphire

Really depends on how long you want to leave it in an account. I'd suggest, though, that you get an ISA as a start (you can invest £3,000 a year, for which the interest is tax free). A good one at the moment is the National Savings ISA.

A reasonably accessible account with a good interest rate is the Post Office Savings account. There are also accounts into which you can drip feed savings every month (interest rates of up to about 8% I believe). These require a little more management, because they are incentives to draw people in to open accounts with the banks/building societies concerned - after a while the interest rate will go down, at which point the sensible thing is to move your money to another higher paying account.

As regards premium bonds, you won't lose any money on these, but may not gain any either.

There's more on saving/investing money in the savings board on this site . . .

Personally, I wouldn't touch property as an investment at the moment. It seems to me that the market is pretty much at its peak, and that it won't take much for it to crash. And I wouldn't invest in property in Bulgaria - apparently it is turning into a giant building site. :eek: