CooperS

My gran has given me a wedge of cash towards my first home, as I still can't afford a mortgage at the mo, i'm looking to invest it for a year or so, I'm gonna get an ISA, but does anyone know where there are some really good accounts that I can put the rest in and leave it for a year or more?

Thanks

Andy

Wish

iTrader: (2)

Ive got an ING accout !!

www.ingdirect.co.uk

Or you could put them in to premium bonds ??

TopBanana

darlodge

LOL @ jlanng

I bet on number 4

Darren

paulr

After using up your cash isa allowance,Halifax websaver is not bad.

CooperS

Cheers, the ING account looks pretty good, I'm crap with money, especially at the dogs, I'd lose the lot.

TelBoy

Generally, i'd recommend diversification.

Of course, all your tax-free options should be a priority, especially if you're a higher rate tax payer.

Premium bonds are also a good recommendation, especially with interest rates so low, but recent changes to the prize structure mean they're not quite as attractive as they were.

If you *need* the cash, then be wary of equities. Although i'd recommend them right now, the extra 5% or whatever you might earn over a safe account like ING's might not be worth it for the stress you could endure if the markets take a turn for the worse.

Old_Fart

The expected annual return on £30k of premium bonds (max allowed per person) is 2.5% and no tax is payable...considering the 4% you can get on instant access web-based accounts is 'only' worth 2.4% after 40% tax then that is a good potential return. You could get unlucky though and do alot worse, or you could diddle the taxman and only pay 25% on your savings interest and get 3% net...a much better return LOL
The best bet was to have been on the list for a new 911 GT3RS..list £84k and secondhand I've seen only 1 and it was £130k, 54% return in a matter of weeks..nice!
Rgds
Cman (didn't get one d'oh!)

CooperS

If I get an ISA now and put in £3K, can I put in another 3 in April or do I have to wait a year from when I started the first one?

TelBoy

Yes, you can add another £3k on April 5th next year.

New To Scoob

Nope you can stick 3K in right now and then open another one on the 5th of April.

John.