Looking for advise on my plan

jimjames

BarrBru wrote: »

Can I ask why you have it all in cash savings? Is it because you need to use it soon?

If it isn't and you can commit at least some of it for a longer period of time, say 5 years or so you can make much more putting it in to an investment trust or fund. A low risk one if you are concerned about risk.

It's a very good question.

You have £11880 available in a S&S ISA which increases to £15k in July and can get a mix of investments to suit most risk profiles.

MikeD1_2

BarrBru wrote: »

Can I ask why you have it all in cash savings? Is it because you need to use it soon?

If it isn't and you can commit at least some of it for a longer period of time, say 5 years or so you can make much more putting it in to an investment trust or fund. A low risk one if you are concerned about risk.

jimjames wrote: »

It's a very good question.

You have £11880 available in a S&S ISA which increases to £15k in July and can get a mix of investments to suit most risk profiles.

Hi both. Do you mean I'd be better off using S&S ISAs, or by investment trust/fund are you referring to something else? Would you have any suggestions to get me started?

I wanted to keep the majority of it accessible as I will probably be looking at a mortgage (and associated house deposit) within 12-24 months. However I could say put away say 10k more long term, as I'd like to keep that as a leeway against any potential unforeseen expenses anyway. Any suggestions on where that kind of amount would be best stored long term? I'd say I'm pretty risk neutral if it helps.

Thanks both!

MikeD1_2

knack92 wrote: »

I can't speak for Club Lloyds but for TSB you don't need to switch or have DDs.

"Our new Plus Account is not like other bank accounts:
We’re happy for you to ‘try before you buy’ so you can see how it feels being a TSB customer. Other banks insist you move your standing orders and direct debits before they’ll give you their special deals."

Cheers, I appreciate the info. Thanks!

ANGLICANPAT wrote: »

You need to check Barclays accept ISA transfers in . I fancy they dont.

The Barclays 'Instant Cash ISA – Issue 1' allows transfers in according to the website

BarrBru

MikeD1 wrote: »

Hi both. Do you mean I'd be better off using S&S ISAs, or by investment trust/fund are you referring to something else? Would you have any suggestions to get me started?

I wanted to keep the majority of it accessible as I will probably be looking at a mortgage (and associated house deposit) within 12-24 months. However I could say put away say 10k more long term, as I'd like to keep that as a leeway against any potential unforeseen expenses anyway. Any suggestions on where that kind of amount would be best stored long term? I'd say I'm pretty risk neutral if it helps.

Thanks both!

Well it depends on a couple of matters such as your attitude to risk.

They have a feature on the WhichInvestmentTrust.com site where readers submit their investments for peer review. A young newbie investor has done it this week and she wants to invest £10K too. Maybe you should have a look at those replies and see what one might fit in to.

The article is here replies/suggestions for what she should do are at the bottom.

Good luck and feel free to ask any questions you might have after reviewing that link.