Equity

T.Bones

We are going into rented accomodation afetr accepting an offer on our house and will have a large amountof equity to invset, probably over £100,000 after all fees and mortgage is paid off. has any body got any advice as what would be the best way of investing this money please

xrjtg

We couldn't possibly offer advice on what to invest in, especially with so little information about your personal circumstances. We may be able to provide a few pointers though.

Basic questions: what are your plans for the money? When, if ever, do expect to spend it? What rate of tax do you pay? How old are you? Have you any existing savings or investments? Pension provision? What is your attitude to risk? Is it money you can afford to lose? What is your current level of understanding: do you know what ISAs are, what unit trusts are and how they work?

Your safe option, and what you should do first, is to stick it in a good savings account, which might pay around 3% annually. If you're concerned about the possibility of another banking collapse then you might want to split the money between two institutions so that you're covered by the £50000 FSCS guarantee (if you don't know what this is, ask and someone will explain it to you. Alternatively, read the articles about savings accounts on the main site).