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07 January 2010

Where to invest my house deposit savings...

Hi, I have some savings (~£16,000) which I'm going to use towards a deposit on a house later on this year; I'll be adding to this on a monthly basis. I'm looking for somewhere to `store` the money during this period which doesn't involve too much risk (willing to accept some). I'd rather not put the money in a basic bank account as it won't earn anything. Are there any other investment vehicles I can look at? I've filled my Cash ISA allowance and filled my Stocks & Shares ISA allowance. I have thought about Money Market funds, but my understanding is that these are only worth investing in when interest rates start to go up. Thanks in advance, Mat

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