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£170K to invest for 6 months

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I am selling my house and buying a newly built property. I will therefore have approximately £170K to invest whilst I await to complete on my new house. What's the best way of hoarding the cash to maximise my return??? Thanks, Bert.
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  • Startup1985
    Startup1985 Posts: 107 Forumite
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    That depends on your appetite for risk, there are current accounts but you won't get all that in, there is p2p but it is higher risk although personally I have had no issues. There is no point in even thinking about investing in the stock market with that timeframe.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    NS&I is the only sensible option.

    If you know it is only going to be short term then FSCS covers temporary high balances in qualifying accounts although you won't earn a chunk of interest on the full balance if held in accounts with upper thresholds.

    Steer well clear of anything that involves investment risks for such a short term.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    The word you want is "save".
    "Invest" implies shares, funds etc which for six months makes no sense it's far too risky.

    I'd just put it in a national savings account. It's only 1% but it will be rock solid safe which over 6 months is all that matters.
  • EdGasket
    EdGasket Posts: 3,503 Forumite
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    Split it at least across three seperate institutions so you are covered by the FSA guarantee if they go bust (house deposits got lost in Kaupthing when they collapsed). Then just pick the highest return savings accounts.
  • EdGasket
    EdGasket Posts: 3,503 Forumite
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    AnotherJoe wrote: »
    I'd just put it in a national savings account. It's only 1% but it will be rock solid safe which over 6 months is all that matters.

    NS&I Direct Saver is 0.8%. Their ISA is 1% but you can't put £160K in there.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    EdGasket wrote: »
    Split it at least across three seperate institutions so you are covered by the FSA guarantee if they go bust (house deposits got lost in Kaupthing when they collapsed). Then just pick the highest return savings accounts.

    Questions and answers about temporary high balances
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • TheTracker
    TheTracker Posts: 1,223 Forumite
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    EdGasket wrote: »
    Split it at least across three seperate institutions so you are covered by the FSA guarantee if they go bust (house deposits got lost in Kaupthing when they collapsed).

    Anyone know where can I find real loss statistics from a savers point of view from the GFC bank collapses (e.g. Kaupthing) ?
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    ING Direct (now Barclays) covered UK customer accounts after the Kaupthing collapse, much to my relief at the time. Do you mean non UK accounts?
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • eskbanker
    eskbanker Posts: 31,629 Forumite
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    EdGasket wrote: »
    NS&I Direct Saver is 0.8%. Their ISA is 1% but you can't put £160K in there.
    The NS&I (taxable) product for 1% is the Income Bonds, see http://www.nsandi.com/income-bonds
  • EdGasket
    EdGasket Posts: 3,503 Forumite
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    eskbanker wrote: »
    The NS&I (taxable) product for 1% is the Income Bonds, see http://www.nsandi.com/income-bonds

    Well if it's taxable then that will be 0.8% or less if you pay higher rate tax.
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