Hi all my husband and I have just sold our house (fortunate i know in this climate) We now have approximately 100k sitting in our current accounts. We plan to buy again soon to take advantage of low interest rates. Where can we hold this cash to get some interest for the next 3-6 months. Any suggestions would be greatly appreciated.
Questions And Answers
Where to invest short term savings
asked by
Susan Cartwtight
posted 21-12-2011 at 11:20
1-1 of 1 Answers
MFP Wealth Management answered 02-01-2012 at 9:48
Hi Susan, check out moneyfacts.co.uk for savings rates. If one of you is a lower rate tax payer then consider holding the savings in the lower rate taxpayers names to avoid paying additional tax. Consider ISA's for this and next tax year for some of the money and also maybe hold the savings with two different institutions to benefit from the compensation scheme if the bank or building society got into trouble.
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