How to invest a monthly amount

Jagraf

We are trying to save a house deposit of £2000 per month over a 2-3 year period.

Any ideas where to invest this?

dunstonh

2-3 years is too short term for investing unless you are extremely high risk in nature and can accept losses and potential delays for the house purchase.

So, you should stick with savings accounts.

michealjohn

hello friend u should invest in a secure department..but before invest read all the guideline ....thanx

colsten

Best to stick your cash into 4/5/6% Regular Savings and interest paying current accounts.

xylophone

Subject to acceptance by the bank you could each have a sole TSB Plus and a joint. (£6000) 5%

A sole Nationwide Flexdirect and a joint.(£7500). 5%

A Lloyds Club each and a joint. (£15,000) 4%

3 BOS sole accounts each (£30,000) 3%

2 Tesco sole accounts each (£12,000) 3%

A First Direct each for the regular saver might be considered.

http://www.bankaccountsavings.co.uk/

Help to buy ISA might be a possibility.

There are DDs required/ minimum monthly payments to cycle round in some cases.

colsten

xylophone wrote: »

A First Direct each for the regular saver might be considered.

any particular reason why you are singling out the FD Regular Saver? It's only one of the three 6% ones in the market. And only fractionally better than the 5% TSB one and the 4% Lloyds one.

xylophone wrote: »

Help to buy ISA might be a possibility.

Well remembered, I forgot about that one! http://www.moneysavingexpert.com/savings/help-to-buy-ISA

I also forgot to mention the Nationwide Recommend a Friend offer which they could use to boost their savings.

xylophone

any particular reason why you are singling out the FD Regular Saver?

It was just one that came to mind - there are others as you say.