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20k what should i do with it????
tankie
Posts: 43 Forumite
I received this due to critical illness.
I have a mortgage £500 per month, on 80K i have 60K equity.
i already have 3.5k in premium bonds should i stick this 20k into that for a year and see if i get some return???
that is the only thing i can think of doing.please help.....:A
I have a mortgage £500 per month, on 80K i have 60K equity.
i already have 3.5k in premium bonds should i stick this 20k into that for a year and see if i get some return???
that is the only thing i can think of doing.please help.....:A
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Comments
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firstly pay the max overpayment you can on the mortgage and then use the Nationwide FlexDirect at 5% and First Direct Regular Saving Account at 6% max £300 a month and then BOS 3% or LTB 3% both pay 3% up to a max 5k.
just an idea.Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)0 -
What is your income/benefits situation?
You may want to be under 16K for savings, so I would look into paying off some of your mtg (which will lower your outgoings).0 -
Santander 123 a/c will give you 3% up to your £20 amount. Max out your ISA allowance?
Hard to advise otherwise, as we don't know your priorities or risk approach to investment.No free lunch, and no free laptop
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