1st Endowment has paid out but not due to pay mortgage off til Dec.
£22k sitting bank can I do anything useful with it.

my pocket?

22 thousand cheap hookers or a massive binge/orgy and then a nice shiny new car

Put it on black.

buy an old motorbike, better investment than any bank, something like a BSA Goldstar?

I was thinking Red…………now I'm not sure

BP shares

Papa_Lazarou – Member

BP shares

I did mention that to mrs B, but I got the "death stare"

No.

Dad invested 10K into BP shares a few days ago, hoping for a good return in a few years time

the cant get worse…………….. hopefuly

premium bonds. You will get your money back. With £22000 you will get some small wins, you just might get a big win

the national lottery!

I got this email from a very nice sounding Nigerian chap the other day. I'll send you his details if you like?

with premium bonds you are gambling with the intrest, which u will not get back and stat wise, the return on premium bonds is quite low.

Spread it by risk.

Put max amount in an instant access Isa (£5k cash now?)

Snag with shares is u need the money in 4 months, which makes it a gamble as u can't just wait until they go back up. Maybe put £10k in, watch like a hawk and don't get get greedy and/or panic.

jacko54321 – Member

Dad invested 10K into BP shares a few days ago, hoping for a good return in a few years time

the cant get worse…………….. hopefuly

Anyone remember when vodaphone shares went down to 'only £3.30' after hitting a silly high? I haven't looked in a while, but given they are still roughly half that, just how long a game do you want to play?
Stocks & shares are generally for the 'big boys' with money to burn…

zero risk as I assume you want pay off mortgage so NO.
Pay off mortgage early if charges are less than remaining payments?
Premium bonds a no /near zero risk of loss and a small chance of a big win.

You could try Barclays

Buy when <300
Sell when >330

10% profit and the price has cycled around those limits for many months testing the 340p limit and failing every time. Just don't blame me if they plummet to 50p again!

Why can you not pay the mortgage off early?

Why can you not pay the mortgage off early?

Nope BIG penalty if we do. 2nd endowment comes out in Oct, even more cash in the bank.

Why can you not pay the mortgage off early?

Nope BIG penalty if we do. 2nd endowment comes out in Oct, even more cash in the bank.

Speak to them as there is a good chance they would like the money now to improve their capital ratios.

Try MSE for some tips.

What would you suggest for 25K for a 5 year investment then?

With interest being so low, and it only being a few months (i.e. you can't take advantage of 12 or 24 month higher interest isa type things) I'd say go for premium bonds. OK, you might not make much. But there's no risk (at least I don't think so), and its not like you can get much interest in a bank anyway.
with £22k I'd have thought you have a reasonable chance of winning something!

For zero risk, stick it in a bank account (ensuring you keep under the £50k limit, per bank).

If you go for premium bonds just watch out for how long it takes to buy and sell. You may only have them for two draws, thus reducing the chances of a win.

It's only 4 months – put it in the best savings account you can find; really not worth any more hassle than that.

Using the calculator on MSE you could expect to win £75 if if "invest" in Premium Bonds for 3 months

Open 3 Lloyds TSB Vantage accounts, bung £7K in each and you'll earn 4% gross interest. You need to pay £1K into each acct per month to get the 4% rate but you can do that by just moving £1k between the accts using the online banking site (takes a couple of mins). Any £££ over £7K earns no interest so £7K per acct is the ceiling you want and you're allowed to open 3 accounts.

Good advice from althepies.

Moving money like this is easy with the advent of internet banking, all you need is a diary to ensure to get the timing right and a few minutes of effort.
If somebody asked me to work a couple of hours for £100 in the evening, I would do it! it amazes me how many people shy away from such things

Jon! So this is where you have been since leaving ukmtb!