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Where to put £210,000
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All the suggestions here for £210k are still in the region of or below the current rate of inflation (1.9%) so they're not actually saving. You'll be losing money whichever savings account suggestion you take here.
Interesting that no one mentioned that...!0 -
All the suggestions here for £210k are still in the region of or below the current rate of inflation (1.9%) so they're not actually saving. You'll be losing money whichever savings account suggestion you take here.
Interesting that no one mentioned that...!
2.1% now :-(Retired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0 -
the relevant rate of inflation is actually the house price index not the CPI or RPI for this saver, as they want to use the money to buy a property - so if house prices are falling or stagnant, its not correct to say they'd be losing money0
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Be aware that when you buy, your solicitor will want to know where the money came from, and you will have to account for every receipt on your bank statement of over £1K for 6 months, for money laundering purposes. Keep good records when you move money around to make life easier for yourself.Make £2025 in 2025
Prolific £229.82, Octopoints £4.27, Topcashback £290.85, Tesco Clubcard challenges £60, Misc Sales £321, Airtime £10.
Total £915.94/£2025 45.2%
Make £2024 in 2024
Prolific £907.37, Chase Intt £59.97, Chase roundup int £3.55, Chase CB £122.88, Roadkill £1.30, Octopus referral reward £50, Octopoints £70.46, Topcashback £112.03, Shopmium referral £3, Iceland bonus £4, Ipsos survey £20, Misc Sales £55.44Total £1410/£2024 70%Make £2023 in 2023 Total: £2606.33/£2023 128.8%0 -
Why does nothing like this ever happen to me0
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chelseablue wrote: »Why does nothing like this ever happen to me0
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Hey all - many thanks for the thoughtful, solid advice and top-notch banter!
Feel like sticking it in the Virgin 1.5% will suit us great given we don't need (or want!) to make withdrawals except for the deposit on exchange and then the final balance on completion of a house purchase. Good to have the limitation to prevent any cheeky chipping away at it, and awesome that the FSCS covers temporary high balances like ours - I had no idea, thanks @Audaxer!
I also really take on the point made by @SmashedAvocado about the house market stalling - I feel like given current political carnage house market confidence is unlikely to soar in the next 6 months so as cash buyers we'll probably be able to get just as much for our money house-wise... Depressing but true!
Again, many thanks to you all for the wise advice and for giving us loads of food for thought on this luxury 'problem'. Best wishes to all!0 -
Hey all - many thanks for the thoughtful, solid advice and top-notch banter!
Feel like sticking it in the Virgin 1.5% will suit us great given we don't need (or want!) to make withdrawals except for the deposit on exchange and then the final balance on completion of a house purchase. Good to have the limitation to prevent any cheeky chipping away at it, and awesome that the FSCS covers temporary high balances like ours - I had no idea, thanks @Audaxer!
I also really take on the point made by @SmashedAvocado about the house market stalling - I feel like given current political carnage house market confidence is unlikely to soar in the next 6 months so as cash buyers we'll probably be able to get just as much for our money house-wise... Depressing but true!
Again, many thanks to you all for the wise advice and for giving us loads of food for thought on this luxury 'problem'. Best wishes to all!
Put 50k in Premium Bonds - ok you will probably lose a few quid in interest but you might get a decent win which you won't get at Virgin.if i had known then what i know now0 -
chelseablue wrote: »Why does nothing like this ever happen to me
Windfalls like this typically might be an inheritance which could be received due to a close family member passing away.0 -
Simon.Edmunds wrote: »Put 50k in Premium Bonds - ok you will probably lose a few quid in interest but you might get a decent win which you won't get at Virgin.
Plus side - tax free, so even better if paying 20/40% tax :money:
Down side - Not in draw for first month, so not so good for a short term savingRetired 1st July 2021.
This is not investment advice.
Your money may go "down and up and down and up and down and up and down ... down and up and down and up and down and up and down ... I got all tricked up and came up to this thing, lookin' so fire hot, a twenty out of ten..."0
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