What can i do with 220K?

SJDW

Hi MSE's

We're a retired couple and we've just sold our house. We don't have a new one to go to yet and are moving in with family while we look. Realistically it will take 3 months at least to find and buy a new house so i wondered what would be the best thing i could do to get some return on my 220K equity while we wait. Can anyone suggest short term , low risk investment or savings routes which could do better than the bank?

SJDW

AndyPK

Well one thing to point out is don't keep more than 85k in the same bank instuation. Per person.
If they go belly up you won't get your money back.

innovate

Where is you money now? If not spread in £85K per person chunks, put it into an NS&I account fast, so you don't risk your capital.

Then look round the forum for what people do with their savings. Don't expect to make much in 3 months though, interest rates are generally dire. The upside is you should get a cheap mortgage or loan if you need one.

AndyPK

Thecoventry.co.uk

Would be somewhere else to put your money.

innovate

AndyPK wrote: »

Thecoventry.co.uk

Would be somewhere else to put your money.

Surely not all of the £220k??

AndyPK

No just another place to put 85k.