Good home for £280k for 6 months

[RichS]

We're looking to Let-to-buy our house. We'll release about £280,000 equity and need to park it somewhere for maybe 6 months while we look for somewhere to buy. Anyone got any bright ideas? Preferably low-risk (but the measly 1.5% offered by banks doesn't particularly appeal).

I'm thinking a US equities tracker or some such, but even that might be volatile over the next wee while.

Any suggestions very much appreciated.

My wife's not working so can use her personal allowance and stick it all in "her" account if needs be. I'll talk to our IFA anyway but was wondering what the PH collective consciousness thought.

And yes I know it is a first world problem etc etc.

Thanks all,

Rich

[Sarnie]

Expect the mortgage company to want details of the onward purchase that you are raising the funds for, eg sales particulars or a mortgage offer...

[greygoose]

Six months is a very short period, perhaps maximum premium bonds for you both should net a few prizes a month, and some shares that pay good dividends (Shell, BP etc).

[RichS]

Sarnie said:

Expect the mortgage company to want details of the onward purchase that you are raising the funds for, eg sales particulars or a mortgage offer...

Thanks for replying; I think that's all sorted; we'll rent our place out and remortgage; Clydesdale don't seem to care, it'll lend 75% LTV provided you have 125% mortgage cover. Survey was today and I think that'll be fine.

R

[red_slr]

Gold could be worth a punt given the issues at the moment in the M-East and Russia. If it all kicks off stocks will probably take a hit and I could see gold taking a short term rise - which given your time frame might work.

Depends how much risk you want to take.

[anonymous-user]

In my opinion, as this is going to be for a "fixed" period and for a such a short amount of time, you should keep it low risk.

[KFC]

red_slr said:

Gold could be worth a punt given the issues at the moment in the M-East and Russia. If it all kicks off stocks will probably take a hit and I could see gold taking a short term rise - which given your time frame might work.

Depends how much risk you want to take.

Speculating on the gold price with your house deposit is a horrific idea