What to do with house equity in between house moves..Invest/ISA/Savings Account..?

karynS

It will be approximately 6 months from sale completion to new build purchase, and during that time I will be living with parents, but I wanted to do something with the equity that would yield something' rather than nothing, and as I've never been in this position I've never really studied annual interest rates etc - and could do with a bit of advice.  I have a share save with work and would like to have a go at the stock markets but not sure if I'm brave or knowledgeable enough! Any advice welcome :-) 

grumiofoundation

Investing in stocks is very very risky over 6 months - what will you do if your investments drop by 50%?

The best easy access interest rates currently available is 1.16% NS and I, you could also look at premium bonds (max 50k per person).

colsten

Definitely not any kind of investment - it's far too short a timescale for that.

You are looking at short-term cash savings. Possibly NS&I Income Bond, NS&I Direct Saver, and/or perhaps Premium Bonds.

Seldonista

For what a second opinion is worth, don't put  money in the stock market if it's only for 6 months. NS&I like Grumio said because it's all 100% government backed and the highest interest you can get on easy access savings to boot (personally I would max out mine and partner's premium bond allowance)

AnotherJoe

karynS said:

It will be approximately 6 months from sale completion to new build purchase, and during that time I will be living with parents, but I wanted to do something with the equity that would yield something' rather than nothing, and as I've never been in this position I've never really studied annual interest rates etc - and could do with a bit of advice.  I have a share save with work and would like to have a go at the stock markets but not sure if I'm brave or knowledgeable enough! Any advice welcome :-) 

You missed off "reckless enough" which is what you'd be if you invested for 6 months. Would you go to Vegas and bet half of it on red ? Assuming not, then don't even think about investing.  
Put £50k in premium bonds and the rest in NS&I.