Where to put £70k for 6 months?

[Prohibiting]

My BTL has gone through and I have received the funds. Which account is the best for sticking approx. £70k in? I don't intend to re-buy yet as I want to see what happens to house prices this year (my gamble I know but I can't see them suddenly shooting up).

I did read on here before that buying steel sports Rolex's instead is probably better than sticking it into an account but I haven't got the balls to do that.

[DonkeyApple]

Lots of people talk about becoming a highly knowledgeable and profitable used watch dealer overnight.

If you want to have £70k in your hand in 6 months time then there is only one way to ensure that and it doesn't involve become the world's greatest watch trader in 7 minutes, risking the lot by lending it to people that banks don't trust to lend to, flipping a council house, trading the FTSE or a currency pair. The only way to start and end with £70k with 6 months of time in between is to stick it in a UK bank account.

[Steve Campbell]

...or put it in Premium Bonds (£50k per person) and fingers crossed for a return close to or above the published numbers.....with a possibility of a bigger win. It has to be in a month before you get into the draw. Low risk but also low return probably.

[Prohibiting]

I've never done premium bonds and don't know anything about them. It's currently sat in my primary debit account. Just wondering if I could put it somewhere where in a safe place where I could guarantee even little bit of interest.

[Prohibiting]

Would it be a good idea to stick £50k in the NSI Premium Bond and when I need it I can withdraw it all with zero hassle, correct?

[DonkeyApple]

The main thing is to put it somewhere where the capital value is not at risk and underwritten by the FSCS. I think Premium Binds are relatively instant access so would be fine.

If you're currently keeping the money in your main debit account isn't there a higher risk of fraud than if you moved it to an account which does not have a debit card attached to it?

[Prohibiting]

Just registered and signed up to the Premium Bonds on NSI. Little bit scary buying £50,000 worth of bonds just like that... Got to wait for confirmation now.

You're right, instant withdraw access with zero penalties so nothing to lose.

[Steve Campbell]

If you win the big one, my commission is relatively low ;-)
Good luck !

[Jimmy Recard]

As said, that £50k could be anywhere between £50k and £5 million in that space of time. It will definitely be at least £50k though.