Best way to invest money for short term

ecclesto

I have sold my house and have £160,000 to invest until I need it to purchase a new house.I will top up my premium bonds but this will still leave me with around £145,000. Is there anywhere which will give me some interest albeit for a short term?

badger09

ecclesto wrote: »

I have sold my house and have £160,000 to invest until I need it to purchase a new house.I will top up my premium bonds but this will still leave me with around £145,000. Is there anywhere which will give me some interest albeit for a short term?

This is the simplest answer

https://www.nsandi.com/income-bonds

If you want to play the current account game - read this

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest#currentaccount

jamesd

For investments you might look at P2P, ensuring that you use only places with quick sale options or short loan terms. To do this you must be willing to take the risk that some of your money might not be available when you want it, and able to handle that. Around 1% a month before possible bad debt is achievable or three to four percent a year for one month fixed terms with protection funds.

Whether investing instead of saving is appropriate for you is for you to judge but normally saving would be regarded as appropriate for the situation you describe, not investing. Partly depends on how many years it is until you expect to need to buy a new house.