Large Sum of Money

trevs707

Hi,

We are thinking about selling our house and moving into rented accommodation as I believe house prices are due to fall and I can buy a larger house later when the price is right.

If I do sell I will have somewhere in the region of £200k to invest in order to pay the rental on the property.

I am worried about only £35k being protected by the FSA if the institution I am with folds; so where would be the best place to put such a sum that would attract the best rate and be safe.

Any advice would be much appreciated.

jon3001

If you want 100% security for all your money then NS&I is government backed.
http://www.nsandi.com/

poppy10_2

You should split it up into smaller pots, it's never safe to have more than £35k with any institution (except the govt-backed NS&I, but they generally don't give good returns)

Ian_W

If you're using the term "We" in a non-Royal sense then with 2 of you the protection is £35K per depositor whether in sole or joint accounts - FSCS website. So you only need to find 3 separate Banks or BS's.
Do however check who the FSA registration covers, as for example, Birmingham Midshires and Halifax are registered as divisions of HBOS so is only covered as one deposit taker.

derrekmay

trevs707 wrote: »

Hi,

We are thinking about selling our house and moving into rented accommodation as I believe house prices are due to fall and I can buy a larger house later when the price is right.

If I do sell I will have somewhere in the region of £200k to invest in order to pay the rental on the property.

I am worried about only £35k being protected by the FSA if the institution I am with folds; so where would be the best place to put such a sum that would attract the best rate and be safe.

Any advice would be much appreciated.

If you want no risk your money won't grow that easily.
Why don't you split up some of your money?
I have invested 10.000$ in a mannaged forex account.
And my research is paying of (already have a ROI of 22% in three weeks time)
I know what they say about the forex, but I trust my money mannager he has allot of experience in the bussines and works in a great way with my money.
Because if he doesn't make profit he also doesn't earn annything..

missile

You talk about investing, but then mention FSA protection so I guess you mean saving the cash?

You would need to achieve a rate of return high enough and the house prices would need to drop sufficiently to cover your buying / selling costs. I hope you realise that you could loose money? The "experts" have been predicting a fall in house prices for many years.

The value of any investment can go up or down, but this seems more like a very risky gamble to me.