Short-ish term £70k investment

chap_in_leeds

Hello

I would be really grateful for some advice.

We have recently sold our house.

We have around £60k in equity, currently in cash in a current account. We also have £11k in shares from a previous employer, £10k in savings, in an straightforward savings account, £750 (at time of issue) of Royal Mail shares, and probably another £15k in assets which are being liquidated over the next 3 months. This is all going to be used for a house purchase.

We think we have found the right house but it is early days.

At the moment we are planning to keep as much cash as possible (and have a 90% LTV mortgage) to allow a large redevelopment of the house. We will need to borrow another £40k -ish in the longer term, perhaps in 12 months, if we buy this house.

In the mean time what can we do with the money?

We have not used any of our ISA allowance this year. We expect the house purchase to complete in June-August and that will mean that we need easy access to around half of the money (expected purchase price £450k) but the remainder can stay invested for slightly longer.

We have a pragmatic approach to risk, we would like, say, 50% in low risk cash and are happy with moderate risk with the remainder. However we are conscious that the fees associated with a such a short term investment may make it futile. We, however, would be interested to use the cash to generate as much growth as possible - doesn't everyone!

By way of background: unmarried couple, two kids.

Thanks

R

CLAPTON

for a few months just put it in a savings a/c or premium bonds
pointless even considering an 'investment' over that period

pip895

Agree with the above - if you are moving house & redeveloping it, the last thing you need to worry about is what the stock market is doing!