What should we do with £30k

kezjoben

Hi can anybody advise what to do with £30k
We have a joint nationwide current account and savings account

We intend to pay credit cards off with £5k

And use the rest for a house deposit but any ideas on where to put it until we want to use for a deposit ?

Thanks in advance

YorkshireBoy

3 Nationwide FlexDirect accounts (2 sole and 1 joint) will take care of £7.5K and return 5% AER.


Lloyds Vantage and/or BoS Vantage and/or TSB Enhance for the remaining £17.5K (spread across 4 accounts, and keeping between £3-5K in each), returning 3% AER.


NB: Don't do this (open so many current accounts) if you're going for the mortgage in the next 6 months!

kezjoben

YorkshireBoy wrote: »

3 Nationwide FlexDirect accounts (2 sole and 1 joint) will take care of £7.5K and return 5% AER.


Lloyds Vantage and/or BoS Vantage and/or TSB Enhance for the remaining £17.5K (spread across 4 accounts, and keeping between £3-5K in each), returning 3% AER.


NB: Don't do this (open so many current accounts) if you're going for the mortgage in the next 6 months!

Thank you but we probably will be going for a mortgage in the next 6 months

YorkshireBoy

kezjoben wrote: »

Thank you but we probably will be going for a mortgage in the next 6 months

Then simply put it in the best savings account until then.


What has your research come up with so far?

Archergirl

You could try your luck on ERNIE............

Spamtastic

I was in the same boat the last time I bought a house and bunged £30k into ERNIE till I needed the deposit (about 8 months). Didn't win any big prizes but I did win every month. All I wanted was to keep the cash safe till I needed it and it was a bit of fun.

glitterpuss

Buy some premium bonds. If you do it before the end of this month, you'll be entered into the draw to win in February.

You may not win anything - but at least
1: Your money is safe
2: It's quick to get at when you need it
3: It's a bit of fun each month wondering whether you might win

mrs_T

Have had £25k in premium bonds since October, so far £25, £50 and £25 so average 1.2% apr but living in hope.

kezjoben

Thanks everybody think we will put it in Ernie!