What to do with £10k??

Kapildeej

I've just inherited £7k and want to know what to do with it. I would have used it to pay off part of my mortgage, but can't make overpayments until the end of my fixed rate term, in two years time. So I'm looking to put the cash somewhere for two years, make as much interest as I can (although I'm only looking at low to medium risk options), and then withdraw the cash plus earnings to reduce the mortgage balance after the two years.

Any ideas for what type of savings/investment vehicles would give the best returns? Split between S&S Isa and savings? Note that I've already used up my cash ISA allowance for the current year.

Any help would be appreciated. Cheers

dunstonh

ignore investments as the term isnt suitable for them. Stick with savings accounts.

If you want to invest then you may find that the stocks and shares ISA allowance is far more beneficial in the long run than paying off the mortgage. However, you should be really looking at a term in excess of 5 years for investing.