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Additional Borrowing Secured - where to keep til needed

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fifeforlife
fifeforlife Posts: 1 Newbie
in Mortgages & endowments
Hi! Have just had additional borrowing confirmed on our mortgage for a home extension. Planning and building warrants have still to be secured so may be a few months before we need to pay out. Where's best to keep this money so a. we don't spend it, and b. it can generate some interest? Its £50k.
Thanks!

Comments

  • amnblog
    amnblog Posts: 12,728 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 30 January at 5:54PM
    Don't draw down the funds until you have to. If you have done so, or need to - Premium Bonds?
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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