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Where to save £350K for a few months
 
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Where to save £350K for a few months

 
forum comment
#0 Where to save £350K for a few months
 
Dave
14.10.10 00:00
 
Hi all,In between selling houses, what would you do with say £350K that you'll need immediate or fast access to after anywhere between 2 or 6 months (assume renting for a while in between selling and buying)? Inflation is very high at the moment and interest rates are very low... so if you temporarily had that much cash, how would you save it?
 
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#0 RE: Where to save £350K for a few months
 
rc
14.10.10 00:00
 
of course only those who are FSA authorised will answer this post, as for anyone else to give investment advice is illegal.....Aces, any views? ;)
 
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#0 RE: RE: Where to save £350K for a few months
 
Aces
14.10.10 00:00
 
I would be willing to let you buy "options" in my salary. I fully expect my first week at ACN to end with a salary re-appraisal. Assuming I get another 25%+ raise, I'd be willing to return 2.5% for the week.If I fail to get the raise I woudl assume you would not call the option and forfeit the premium.
 
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#0 RE: RE: RE: Where to save £350K for a few months
 
Dave
14.10.10 00:00
 
LOLNot looking for "advice" though guys, just some ideas that I can follow up on or look into. :-)
 
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#0 RE: RE: RE: RE: Where to save £350K for a few months
 
billum
14.10.10 00:00
 
I've heard that Old Floppylegs in the 4.30 at Derby is a sure thing...to be honest I've had similar issues with savings - there aren't any good deals around. one thing you can do is open lots of new current/instant access saver accounts at different banks, as many of them will give a boosted interest rate for the first 6 months or so on a capped amount for new customers. but even on that mount the rates are so low that the interest difference (which then gets taxed..) is hardly worth the bother...
 
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#0 RE: RE: RE: RE: RE: Where to save £350K for a few months
 
Polish Plumber
14.10.10 00:00
 
Check out moneysavingsexpert.comFind the best ISA account and fill up your ISA allowance. Shares or cash ISA - up to you. Find the best instant access savings account and put the rest of the money there.
 
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#0 RE: RE: RE: RE: RE: RE: Where to save £350K for a few months
 
someguy
15.10.10 00:00
 
the problem is the instant-access bit. If you're hunting for your next house you can assume at least 3 months to exchange & close, so might still be worth looking at short-term fixed interest products? 6-month bonds can pay a decent return but only if you lock up your cash. or, buy GOLD. I hear it's fool proof.
 
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#0 RE: RE: RE: RE: RE: RE: RE: Where to save £350K for a few months
 
Dave
15.10.10 00:00
 
With regard to instant access, a notice period of a few weeks would be OK. I can tie the cash up for say probably up to 2-3 months at a time.Any thoughts about the best rates for short-term bonds? I know next to nothing about this stuff.
 
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