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?
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
I've got this Nigerian friend who would be really interested, it's a great business opportunity with guaranteed returns....
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.
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
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.
£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
To quote Wesley Snipes, "Always bet on black". Your guaranteed winnings will easily cover the flight to Monaco. 8)
Buy Euros and pray for a turn around!
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.
A 1974 911s or two.
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.
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.
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.