What to do with £180k?

DonutMonster

Hello, having recently sold our house and the purchase of our next falling through, we have the £180k equity just sitting in the current account not doing much.

We've been looking at other houses but are not in any rush and a're currently renting - not ideal, but as our purchase fell through we had little choice.

So really we are looking to put the cash somewhere we can access it when required - no lock in/fixed term.

I did look at putting £20k here, £20k there etc, but not sure if it's worth all the effort. Is there a tool anywhere that I can use to project interest returns when allocating amounts to specific products so I can balance out the risk/restrictions/return etc.

Many thanks

newatc

A simple spreadsheet would do the job.

The least effort solution to your savings query would to put in an NSI savings account which is backed by the government so provides greater safeguard than the "banks" £85k guarantee. Which one depends on your best guess on how long before you need it. Anything less than 6 months, the income bond paying 1% would be best.