Where to put 50k

[Brightandbubly]

I have 50k that I would like to invest would be great if I could draw a small income if that’s possible.
maxed out with an ISA
mortgage is paid off
have interest only mortgage on BTLs which I wouldn’t be paying off
no debt

It really depends on your circumstances, risk tolerance, time horizon, etc.

One fact that would be useful to know is the nature of the IO mortgage on the BTLs: is it a fixed rate? If so for how long is it fixed? Have you looked at what the payments would become if you had to renew at current interest rates?

Tbh in current climate just putting it in a high interest savings account could get you 2-3k a year in interest. Our savings are making us more just sitting there then we would save by paying into our mortgage so we aren't overpaying for now.

Just renewed btl mortgage

Premium bonds. I think £50K is the max you can put in. Loads of wins each month.

@Brightandbubly you did not mention the interest rate on your IO BTL mortgage, nor the length of fix.

The level of interest rate you are paying and the duration of the fix are among the factors you should consider when you decide what to do.

Anyway, if you want instant access to the funds with guaranteed preservation and tax free prizes, then Premium bonds which were mentioned by a previous poster would deliver those advantages. But, if you can afford to lock up the money for longer, or if you can make a voluntary pension contribution, you might find that by accepting some illiquidity and / or some risk of capital loss, you can potentially achieve a higher return.