what would you do.

daniel80

I had s/s isa`s with Hargreaves Lansdown to the value of 70k. We are putting the house on the market and will need this money at a guess in about 6 months time depending how quick the move takes. I cashed these in about 3 months ago to be on the safe side, the money is now sitting in a s/s umbrella account as cash earning next to nothing interest. Was just thinking of any ideas I could get this sum to work for me and get quick access. The only thing I can think of which might be worthwhile is premium bonds. Never liked these before but over this time period could be worth a gamble. What would you do.

atush

An instant access savings acct that pays more than HL?

Ifts

Premium bonds and rest in the best easy access account (1.6/7% ish) or Santander* 123 account x2 (3%) if you may need the money in next 6 months.

If you did go with PB's with some of it now, the first draw the bonds will be eligible for will be November (they have to be held for a whole month before they get entered into the draw).

*If you can meet the T&C's maybe a Santander 123 current account @ 3% on balances up to 20K, you are allowed to open 2 of these accounts but they do have a £2 per month fee (don't know if it will be worth it if you only need to store the cash for 6 months).

jimjames

Max for premium bonds is £30k.

You lose periods at start and end when they don't qualify.

No guarantee of return as gamble so why not just put into a savings account so you can access when you want?

Ifts

jimjames wrote: »

You lose periods at start and end when they don't qualify.

At the start yes (as they have to be held for a whole month before they get entered into the draw).
But when you want to cash them in you can choose the option to withdraw your money immediately after the next draw has taken place (that way they wont lose periods at the end when they don't qualify).