Where to put my money

tlukeruk

Good Evening. I am in the process of selling my property and will be left with approximately £200k of equity. I don’t work and don’t intend on going back to work until April 2017, so another mortgage isn’t an option. I will be renting, but I am unsure of where to put the equity to accumulate as much interest/pay back as possible for 12 months approximately. Thanks for any suggestions.

eskbanker

The most straightforward and safest option for a large lump sum is http://www.nsandi.com/income-bonds for 1.25%, but you could earn more interest on some of that by opening a substantial collection of current accounts and regular savers, see https://forums.moneysavingexpert.com/discussion/5374614 for details.

Alternatively, multiple one-year fixed-rate savings accounts (to keep each one within the FSCS limit) could get you around 1.8%, see http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#oneyearfixed