What to do with £7k

Cammywatson033

I have about 7 or 8 grand that I don’t need to use for the next 4 or 5 years, after that I want to use it for home renovations. Until that time I obviously want to invest it and get as much return as possible without little risk to losing it. Could someone advise me as to what they think I should do?

Thanks guys 

jimjames

If it's 4-5 years and you absolutely need to have the money there at the end of that time then investing it really isn't an option. If you could delay to 6 years if markets have dropped a bit then it may be. Otherwise you need to stick with cash savings but with the understanding that although you'll get low returns your money will also be available when you need.

Cammywatson033

Yeah would defo need the money there in 5 years max. Maybe just stick it into premium bonds