Where to invest £50K for a year?

Chenzo

Sold our UK house and wondering what the best thing to do with the money would be for the next year or so, until we decide whether to buy here.

We moved to the USA about 18 months ago and are renting a house in South Florida. We decided to sell our house in the UK and now have £50K in a Nationwide e savings account.

We are still in the process of applying for Green cards, so I'm not too keen on buying a house here at the moment. That coupled with the volatile housing market - rising prices, cash buyers. There is also the possibility that my office will move to another part of the US.

So, for the next year or so I want to try and get a reasonable return on our money, but don't want to tie it up somewhere that we can't access it in the unlikely event that we need to.

We do have some savings here in USD, and I want to keep the £50K in the UK at the moment.

I'm on US payroll, so not paying UK tax now that we have sold the house (which was generating rental income), and I'm guessing that an ISA would not be applicable because of the tax situation?

I'm hoping that the inventive hive mind of the MSE forum will be able to offer some suggestions...

Archi_Bald

You are right, you cannot put money into an ISA if you are not resident in the UK. Apart from that, most pay terrible interest these days. Best interest payers are current accounts but you have to be a UK resident to apply for one of these. Same applies to savings accounts so you could be a bit stuck.

Chenzo

Well I still have 3 or 4 UK current accounts and have the money in a savings account linked to the nationwide current account.

I was just looking to see if there was a better way to earn interest