Curly87 Posted December 7, 2015 Report Share Posted December 7, 2015 I know there are a few financial types on here. Have a reasonable sum of money that I have been saving for a deposit for our first house. However we are not going to be in a position to buy for another two years. At the moment it's just sitting in a standard saver account. Looking for some other options that would produce a better return? Must be able to easily add to it over the next couple years and be able withdraw it quickly if a house comes up. Quote Link to comment Share on other sites More sharing options...
Rupert Posted December 7, 2015 Report Share Posted December 7, 2015 The new government backed first time buyer account, tax free with a free top up from the taxpayer designed specifically for this secenario Quote Link to comment Share on other sites More sharing options...
felly100 Posted December 7, 2015 Report Share Posted December 7, 2015 I always have a look on here http://www.moneysavingexpert.com/ Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 7, 2015 Report Share Posted December 7, 2015 (edited) Its actually illegal for anybody on here to offer you investment advice, but that doesn't matter because you would be mad to listen to it in any case Haha Have a look at money saving expert or similar as said above Edited December 7, 2015 by Vince Green Quote Link to comment Share on other sites More sharing options...
Curly87 Posted December 7, 2015 Author Report Share Posted December 7, 2015 Cheers, will check out money saving expert! Did look into the first time buyers scheme, Rupert, but annoyingly they will only pay out if the house is worth £250k or less. Looking to buy a house with a bit of land for my business so think we will be above that threshold so would only benefit from the 4% interest rate. Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted December 7, 2015 Report Share Posted December 7, 2015 Premium bonds? Quote Link to comment Share on other sites More sharing options...
100milesaway Posted December 7, 2015 Report Share Posted December 7, 2015 Santander current account 3% up to £20,000. from Auntie. Quote Link to comment Share on other sites More sharing options...
AVB Posted December 7, 2015 Report Share Posted December 7, 2015 For short term, instant access and no risk of loss of capital I'd also go for premium bonds. Quote Link to comment Share on other sites More sharing options...
photon Posted December 7, 2015 Report Share Posted December 7, 2015 Premium bonds? +1 When you need it back approx 8 days. Quote Link to comment Share on other sites More sharing options...
Harnser Posted December 7, 2015 Report Share Posted December 7, 2015 Go to Vegas and put it all on black . Could be the best or the worst investment you ever made . It's instant no waiting around . Harnser Quote Link to comment Share on other sites More sharing options...
Lloyd90 Posted December 7, 2015 Report Share Posted December 7, 2015 How much are you talking about ? I'm wondering similar for an amount of £100k Looking to put it into a property ideally and rent the spare rooms. Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted December 8, 2015 Report Share Posted December 8, 2015 Premium bonds have a max put in of 30k but they will pay out more than any savings if you have over 5k worth. It's not really worth putting in £500 as the likely of winning is slim with that amount. Quote Link to comment Share on other sites More sharing options...
krugerandsmith Posted December 8, 2015 Report Share Posted December 8, 2015 curly. Interest rates .... are absolutely rubbish. We will soon be paying them to mind our money. Quote Link to comment Share on other sites More sharing options...
firdom Posted December 8, 2015 Report Share Posted December 8, 2015 (edited) premium bonds £50,000 put in now i think Edited December 8, 2015 by firdom Quote Link to comment Share on other sites More sharing options...
dougall Posted December 8, 2015 Report Share Posted December 8, 2015 Premium bonds have a max put in of 30k but they will pay out more than any savings if you have over 5k worth. It's not really worth putting in £500 as the likely of winning is slim with that amount. 50k.best to withdraw after 1st mon of the month as that way has entered the draws.it is 50k each if you a couple.2 years too short a time to risk being any cleverer...... Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 8, 2015 Report Share Posted December 8, 2015 (edited) Santander current account 3% up to £20,000. from Auntie. Yes but they tax you on that, which is a bit if a swizz, so that brings you down to 2.25% and they have just put the monthly account fee up. The best part of the 1-2-3 account is you get cashback on all your utility bills Edited December 8, 2015 by Vince Green Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted December 8, 2015 Report Share Posted December 8, 2015 50k.best to withdraw after 1st mon of the month as that way has entered the draws.it is 50k each if you a couple.2 years too short a time to risk being any cleverer...... Must of gone up since I last looked because I'm sure it was 30k. Quote Link to comment Share on other sites More sharing options...
Curly87 Posted December 8, 2015 Author Report Share Posted December 8, 2015 Currently have around £40k, will consider the premium bonds, although money saving expert don't give it a great review. Reckon on average you get a 1.5% return. Although I guess it is a lottery so you never know! Anyone actually won anything more than a couple of quid? And yeah, 50k limit with the bonds at the moment. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted December 8, 2015 Report Share Posted December 8, 2015 curly. Interest rates .... are absolutely rubbish. We will soon be paying them to mind our money. Thats why there is such a boom in buy to lets but its resulting in some appallingly bad landlords getting into a business they have no idea about. Quote Link to comment Share on other sites More sharing options...
dougall Posted December 8, 2015 Report Share Posted December 8, 2015 Must of gone up since I last looked because I'm sure it was 30k. it was 2ok went to 30k now 50k(about 9 months ago at a guess). Quote Link to comment Share on other sites More sharing options...
winnie&bezza Posted December 8, 2015 Report Share Posted December 8, 2015 Thing is with it going up is that the richer can put more in and have more chances at winning than the people who can only put in say £1000. But that's life. If you get one win if £250 a year then that will beat most saving accounts. Quote Link to comment Share on other sites More sharing options...
daveboy Posted December 8, 2015 Report Share Posted December 8, 2015 Thing is with it going up is that the richer can put more in and have more chances at winning than the people who can only put in say £1000. But that's life. If you get one win if £250 a year then that will beat most saving accounts. Plus you soon get to recognise the envelopes before you open them and that makes it exciting. I won £500 last year then nothing for 5 months. Usually get a couple of £25 a month. Quote Link to comment Share on other sites More sharing options...
Curly87 Posted December 8, 2015 Author Report Share Posted December 8, 2015 This is another option we are considering, investing in lower risk funds and going with a company like this for example: http://www.sjpp.co.uk/special.php?page=extra2&storyid=120171&site=poundburywealth Quote Link to comment Share on other sites More sharing options...
Nial Posted December 8, 2015 Report Share Posted December 8, 2015 I've always thought if I had a stack of cash I'd look into peer to peer lending such as Zopa. Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted December 8, 2015 Report Share Posted December 8, 2015 I have £30k in premium bonds-return is around £400/year on mine. Quote Link to comment Share on other sites More sharing options...
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