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What can i do with 220K?
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SJDW
Posts: 1 Newbie
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
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
0
Comments
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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.0 -
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.0 -
Thecoventry.co.uk
Would be somewhere else to put your money.0 -
No just another place to put 85k.0
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