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Lump sum for house conversion - how to make money on it?
Steadingconverter
Posts: 2 Newbie
Hey J
My fiance and I recently renovated/extended an old cottageand have sold it. We currently have asizable lump sum sitting in its own bank account (current account with Bank ofScotland).
We have bought a steading (literally a cow barn) which we’regoing to convert into our next house.
The remaining lump sum (after the steading purchase) will be used to do thework.
Is there some kind of credit card or the likes that we should utilise to make a little from our money? Seems an awful lot to be spending to not be getting any perks fromit. Someone suggested a Tesco creditcard. Any thoughts or other suggestions?
Cheers J
My fiance and I recently renovated/extended an old cottageand have sold it. We currently have asizable lump sum sitting in its own bank account (current account with Bank ofScotland).
We have bought a steading (literally a cow barn) which we’regoing to convert into our next house.
The remaining lump sum (after the steading purchase) will be used to do thework.
Is there some kind of credit card or the likes that we should utilise to make a little from our money? Seems an awful lot to be spending to not be getting any perks fromit. Someone suggested a Tesco creditcard. Any thoughts or other suggestions?
Cheers J
0
Comments
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A rough indication of the amount will allow people to advise you correctly.0
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There's around £150,000 in the account. This will be used up over the next year to do the conversion.0
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The simple answer is NS&I Direct Saver, which offers instant access, pays 1.1% and protects up to £2 million. Other options will earn you more on some of the money but will require some active management.0
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