Best short term investment options for lump sum

[northernladuk]

Yeah but you have to have it in for a full calendar month before its eligible. If you don't get it in before 1st Dec it won't be in the draw until Feb.

[Lance]

You can invest up to £50k, money guaranteed, can be withdrawn immediately and have a gazillion to one chance of winning a million.

I've just done this for £15k I don't need until December, month 1 won £25, month 2 won £0, just waiting for Decembers draw on the off chance and will withdraw the money.

The prize fund is currently 1.25% so over time, with average luck you could get this

No worse off than leaving in an account at 0.05% and a bit of fun think your going to win big!

tax free as well

[zoomfwd]

What about Premium Bonds ?

You can invest up to £50k, money guaranteed, can be withdrawn immediately and have a gazillion to one chance of winning a million.

I've just done this for £15k I don't need until December, month 1 won £25, month 2 won £0, just waiting for Decembers draw on the off chance and will withdraw the money.

The prize fund is currently 1.25% so over time, with average luck you could get this

No worse off than leaving in an account at 0.05% and a bit of fun think your going to win big!

[kaiser78]

Max out your cash ISA allowance - £~15k each for you and spouse. Coventry BS offer 1 and a bit % for their easy access ISA. Put the rest in the garden shed.

[northernladuk]

Cool story bro.

[Big Blue Plymouth]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

I hadn't thought about that. Thanks for pointing this out.

As for my luck - just got an email from Barclays telling me I'm getting £4k PPI refund.

Couldn't have come at a better time

[SlipTheJab]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

+1, OP do you want to buy some magic beans in exchange for that cash cow

[northernladuk]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

[dingdong]

You don't need to worry about the 75k limit - you get 6 months protection under FSCS for up to a million for temporary high balances after selling your property

[Lance]

https://lmgtfy.com/?q=best+savings+i...rm+easy+access

[chopper]

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?

Aldermore are doing 0.75% on Easy Access accounts - so this seems a decent suggestion for at least £75k of your money.

[eek]

Not sure this is the right forum for this post but I can't be done with posting in General at the moment...

Just sold my house & the proceeds are in my current account. What's the best thing to do with this cash until my next house purchase which could be any time from 2 - 6 months from now?

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?

Probably not such a short term. You also don't want more than £75,000 per a banking licence...

[Big Blue Plymouth]

Not sure this is the right forum for this post but I can't be done with posting in General at the moment...

Just sold my house & the proceeds are in my current account. What's the best thing to do with this cash until my next house purchase which could be any time from 2 - 6 months from now?

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?