£7000 lump sum + £250pm thereafter

Smithers37

Hey everyone,

Does anyone have any ideas on how I should go about saving or investing £7000 as a lump sum and then £250 a month thereafter?

Situation: I'm looking to co-buy a house soon (within a year) for which I have £17000 saved in a couple of ISAs. I need something more long term (at the very-very least 5 years) as the person I'm buying the house with wants everything to be paid-for equally which means I won't be able to put the extra in to the house I'm buying.
In short: I need something to at least counter the interest on the mortgage.

So far I've looked at:


Nutmeg -

This seems to be a good solution due to the easy nature of setting the account up and having the portfolio managed, however the charges seem a little bit high which is making me want to do some more research first

H-L - Master Portfolios

These look quite tidy and seem to offer a good return dependent on the type of risk you pick, however I'm finding it a bit overwhelming with all of the information available.

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I know everyone has different situations therefore everyone should have different plans etc but I'm feeling a little lost here.

What would you do?

Or

Can you point me in the direction of somewhere to educate myself?


Thank you so much for any suggestions, anything is appreciated.

xylophone

http://monevator.com/category/investing/passive-investing-investing/ might be worth a read.

System

What I or anyone else on here would do is not necessarily what you would do or right for you.

However even 5 years is a very short time in investments. If your £7k lump sum was only worth £3500 in 5 years how would you feel? If that is position you are not prepared to be in, then I would dump it all in Santander 123/club lloyds/TSB current accounts. You will find plenty of threads on those accounts on here.