Thrush

iTrader: (1)

The inheritence from my grandads will is just about to come through and I want to make it grow, but don't know what to do with it

Don't want to fritter it away on shit like cars etc, it's gonna be a deposit on a house/flat etc sometime soon(ish) maybe next couple of years with some (nee: a LOT lol) additional saving, so I don't want it sitting in my current account (as much as I like seeing my account status in the 5-figures )

But don't know where to put it that it will earn the most interest.... AllI know of are Premium bonds and ISA's. Now uyou can't put more than 3k into an ISA can you? So am I best just getting a bunch of them @ 3k each?

someone mentioned First Direct or summat - online savings bank that does high interest rates.....???

Anybody know some shit lol

Switch

Thrush you can only invest 3k in cash isas per year! but can put another 4k in equity and insurance isas.
always worth putting money through this route first if ya aint used your isa subscription this year.
other wise ya need to decide if you want access to the money. so building societys have some decent fixed interest bonds at the mo, northern rock is 5.5% for 1 year i believe, but this means ya cant touch the money in that time.
Portman Building aociety have a good account paying 5.55% with access to ya money giving 75 days notice.
If ya are talking loads of cash 40-50k etc then go see a Financial advisor and they will help you invest in what is best for you. pm me and i can set this up if ya want.

Porkie

iTrader: (1)

If its five figures, use it to help buy a flat somewhere and rent it out....look carefully though where you buy.

I hate leaving money in the bank, I'd rather do ANYTHING with it than leave it sitting there. And that includes pissing it up the wall

Thrush

iTrader: (1)

It is five figures, but it starts with a 1 and don't go as high as a 2 And you ain't gonna get a flat for less than 20k, least not one that anyone would want to live in - even students have stds So renting out is probably out the question

So Switch (thouight you'd reply to this thread ) can I not have more than one ISA in a year then?

I jsut want to earn some money on it whilst I scrimp and save for next year or so to get my own place, be it renting or mortgage etc.......

gurnE

You can have 1 maxi ISA in a tax year which you can put up to 7k into the following components

Stocks and shares (Up to Ł7k)
Cash (Up to 3k)
Life Assurance (Up to 1k)

Or you can have several mini ISAs but not two of the same type

Ie. Mini stock and shares ISA (Up to 3k)
Mini Cash ISA (Up to 3k)
Mini Life assurance (Up to 1k)

There are several tax efficent National Savings products that you should consider too.

http://www.nationalsavings.co.uk/

Zetec Andy

Thrush, remember lastnights conversation mate

Thrush

iTrader: (1)

Right now I'm more confused than ever

Where can I put between 10K and 20k in one lump some and earn a high interest rate, where I won't be wanting to touch if for at LEAST a couple of years?

kevandalice

a fixed rate bond nationwide do some good ones with a choice of terms

Porkie

iTrader: (1)

I meant use it as a deposit on a morgage for a flat or a house numbnuts!