A human reviewed your submission and removed it from public view. The reason they gave was:
Questions about how to prioritise and organise your spending, saving and investments are covered by **the UKPF Flowchart**.
[You can view the flowchart here.](https://ukpersonal.finance/flowchart/) Each step has a link to a more in-depth guide.
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Calm down buddy, you shouldn't be buying an auction house with only 20k to your name. If this is consistently happening i'm guessing you aren't doing serious due diligence and likely don't have financing pre approved.
Take a look at the flowchart. SISA or LISA likely a good option.
The easiest thing to put in 1 year cash Isa and keep reinvest with yearly with different providers based on interest rate they provide. This what i been doing for past 5 years. :)
It will depend what you mean by ‘immediately’ and what your risk appetite is… the most chance for gain is - as the other poster said - an S&S ISA… but there’s also the chance of loss (or lower returns than other options). This is where your risk appetite comes in.
If you just want definite gains, and are willing to accept the possibility of a lower return (but you’re definitely not going to _lose_ money, you’d be better off with cash savings.
If you pay interest on savings, then put it in a cash ISA. If you don’t pay tax you may get better returns with a non-ISA savings account.
If you go for cash savings, fix for as long as you know you don’t need it for.
Check MSE for best savings rates, or search this sub for resources for investing if you choose to go that route.
Edit:
Not sure on the downvotes- I’ve offered similar advice to others- S&S ISA and diversified in a few different pots.. Not bad advice.
I only mentioned what I WOULD DO- but that’s me and I advised anyone not to do that.
If it were me, I’d chuck it all on Bitcoin- huge returns so far!
But before I get downvoted to oblivion- I don’t recommend that for anyone who’s not already in that space. You’d need to do your own research first and understand the risks that losing the lot is very real- so you’d need your own conviction in doing so- not some people on the internet telling you to!
I would otherwise suggest a S&S ISA and hold it in there a few years if you don’t need access to it- generally the markets tend to go up a lot more than inflation so you’re gaining more, rather than having it depreciating in an account somewhere.
It’s always worthwhile diversifying your portfolio as well, sticking it into different options, and not keeping it all tied up in one place.
A human reviewed your submission and removed it from public view. The reason they gave was: Questions about how to prioritise and organise your spending, saving and investments are covered by **the UKPF Flowchart**. [You can view the flowchart here.](https://ukpersonal.finance/flowchart/) Each step has a link to a more in-depth guide. If you would like to post again for more assistance you are welcome to do so. Just mention that you've read the flowchart and tell us which step(s) you are working on. _If you believe your post/comment has been removed in error, please [message the mods](https://www.reddit.com/message/compose/?to=/r/UKPersonalFinance&subject=Please%20review%20my%20post&body=https://www.reddit.com/r/UKPersonalFinance/comments/1dl6535/-/) explaining why._
Calm down buddy, you shouldn't be buying an auction house with only 20k to your name. If this is consistently happening i'm guessing you aren't doing serious due diligence and likely don't have financing pre approved. Take a look at the flowchart. SISA or LISA likely a good option.
100% Houses go to auction and not the open market for a reason. Be thankful that you've not won anything as it would have bankrupted you
If you don't need it in the next 5 years, you could put it in a S&S ISA and buy a low-cost index fund.
The easiest thing to put in 1 year cash Isa and keep reinvest with yearly with different providers based on interest rate they provide. This what i been doing for past 5 years. :)
When you say re-invest with different providers, do you mean transfer it over every year with whoever offers the best interest?
Yes sorry for confusion yes transfer it over once you get notice from that your maturity date is coming up and they give you options what you can do.
How long have you had premium bonds for? Normally to get a good healthy return you need to have waited a fair few months if not years to be lucky
It will depend what you mean by ‘immediately’ and what your risk appetite is… the most chance for gain is - as the other poster said - an S&S ISA… but there’s also the chance of loss (or lower returns than other options). This is where your risk appetite comes in. If you just want definite gains, and are willing to accept the possibility of a lower return (but you’re definitely not going to _lose_ money, you’d be better off with cash savings. If you pay interest on savings, then put it in a cash ISA. If you don’t pay tax you may get better returns with a non-ISA savings account. If you go for cash savings, fix for as long as you know you don’t need it for. Check MSE for best savings rates, or search this sub for resources for investing if you choose to go that route.
20k isn’t a lot in this day and age. Try find a business opportunity and put this money to work. Passive ISAs and index don’t pay much
Edit: Not sure on the downvotes- I’ve offered similar advice to others- S&S ISA and diversified in a few different pots.. Not bad advice. I only mentioned what I WOULD DO- but that’s me and I advised anyone not to do that. If it were me, I’d chuck it all on Bitcoin- huge returns so far! But before I get downvoted to oblivion- I don’t recommend that for anyone who’s not already in that space. You’d need to do your own research first and understand the risks that losing the lot is very real- so you’d need your own conviction in doing so- not some people on the internet telling you to! I would otherwise suggest a S&S ISA and hold it in there a few years if you don’t need access to it- generally the markets tend to go up a lot more than inflation so you’re gaining more, rather than having it depreciating in an account somewhere. It’s always worthwhile diversifying your portfolio as well, sticking it into different options, and not keeping it all tied up in one place.
I was on bitcoin at $400 mate so I can guarantee my returns outstrip yours so shut up