• This topic has 13 replies, 13 voices, and was last updated 9 years ago by kcal.
Viewing 14 posts - 1 through 14 (of 14 total)
  • Where to invest house sale proceeds very short term ?
  • Edric64
    Free Member

    Is there a good place to invest about 100k for a couple of months from the proceeds of a house sale until we complete on another?

    ampthill
    Full Member

    Not that i know of

    The problem is that’s too much to be tax free

    Also I assume you need zero risk

    As i’m sure you know it needs spending ASAP, particularly if its going into another house

    andylc
    Free Member

    I’ve got this Nigerian friend who would be really interested, it’s a great business opportunity with guaranteed returns….

    midlifecrashes
    Full Member

    Do you have to worry about a bank going to the wall while it’s in there? I think the max protected is £85k so you might want to split it into two unrelated bank deposits.

    GrahamA
    Free Member

    I can’t give you advice on how to invest but be careful of putting it all in one account as you are only protected by FSCS up to 85k.

    http://www.moneysavingexpert.com/savings/safe-savings

    chris36860
    Free Member

    As above, but if you put it in an account with joint names, you’re covered for £85k each (£170k) We use Coventry savings or BM savings. We both have accounts in our own names and also a joint account. Interest will be rubbish as it’s short term tho.

    superstu
    Free Member

    £85k is per person so if in joint names then FSCS limit shouldn’t be an issue.
    As above no good short term homes, instant access savings at around 1.5% (before tax) APR so you won’t earn a lot, but better than nothing

    climbingkev
    Free Member

    To quote Wesley Snipes, “Always bet on black”. Your guaranteed winnings will easily cover the flight to Monaco. 8)

    welshfarmer
    Full Member

    Buy Euros and pray for a turn around!

    kudos100
    Free Member

    invest about 100k for a couple of months

    Investing and a couple of months are pretty much mutually exclusive. Stick it in the bank, forget about earning a return on your money and sleep safe at night.

    jkomo
    Full Member

    A 1974 911s or two.

    roverpig
    Full Member

    What we did, in a similar situation was buy loads of Premium Bonds. Zero risk, the return from lots of £50 “wins” was about as good as we’d have got in a normal savings account but with the chance of the million pound win.

    richmars
    Full Member

    If it’s only 2 months, you may only get one draw in the Premium bonds, but I think that’s what I’d do.

    kcal
    Full Member

    If willing to a take some risk, RateSetter would be giving 2-3% pa return for a one month lend.
    Not sure I’d put £100k in that though!!

    Premium Bonds I’ve found to be patchy at best; decent online account – Sainsburys or similar – would be fail-safe. Alternative – if you thought fees would be outweighed by yield – would be a decent blue chip paying 4-5% yield – but you’d have to buy before dividend was announced and sell in good time.

Viewing 14 posts - 1 through 14 (of 14 total)

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