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Investment advice please
Alanem
Posts: 21 Forumite
My daughter has sold her house and was arranging a mortgage on a new property but the new offer has scuppered the the deal and she has had to withdraw. She’s lodging with a friend and is waiting to see what happens to the market. What is the best thing to do with the £350k she will shortly have available.
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Comments
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Not invest it - that means putting it into shares / bonds / funds / commodities that can go up or down and is only suitable for gamblers or long-term investment.
Assuming that she will still be looking for a house and might need the money at short notice, then look for the best instant access account. £85k limit on FSCS protection is extended to £1M for 6 months to cover things like temporary deposit of house sale money.
If easy access in the short term is not required, then notice accounts pay a bit extra interest, and split the money across several institutions.loose does not rhyme with choose but lose does and is the word you meant to write.2 -
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