Investment Advice

Razzmeister

Hello

Forgive but I am a bit clueless in this field.

An aquaintance may shortly be coming into approx £150,000 to £200,000.

I need a rough idea of how this should be invested to provide the maximum monthly return.

I have been looking at notice accounts and have read that 7% is possible however what I need to know is a very general idea of how best to invest this money (low risk) and what monthly return could be expected.

Basically what we want is to dump the cash in some product and use the interest to top up salaries each month.

My pal will be seeking independant financial advice but a few pointers / ballpark figures would be greatly appreciated.

Regards

Razzmeister

Razzmeister

Sorry, read some other posts and thought I better put a bit more info in.

Mate is 53, lower rate tax-payer, no mortgage, property valued at £600k however the 150 - 200k will be coming from the sale of part of this (property is one house converted into 2 flats)

She needs cash to renovate her PPR and has considered letting the other flat but it's too much hassle and doesn't solve the cash-flow problem.

The flat she would be selling is worth £250k, after debts paid there will be 150 - 200k left.

She needs a monthly return and relatively easy access (30-60 days) to the cash in cash she wants to move into another property.

Hope this helps

cheerfulcat

Hi, Razzmeister,

First off, can you tell us where you saw a savings account offering 7%? The best savings rates now are around 6%-ish, which suggests that the product you found is not in cash.

There's really no point in your friend visiting an advisor if she is thinking of buying a house with the money - she doesn't need an investment or investment product, she needs a savings account. Have a look at some of the threads here, and at moneysupermarket.com and moneyextra.com for comparisons of accounts.

dunstonh

I agree with cc. Advisers are investment advisers. Not savings account advisers. This money wont be invested conventionally so it would be a waste of time for your friend and the person he/she sees.