How to save this money wisely

[Petrie999]

We are trying to work out how best to save a recently accumulated amount of around 30k - currently just in a standard savings account, which we are aware will take us over the tax free interest limit. Everyone keeps telling us to put the money into an ISA but we are wanting to move home in the next 6-12months and will likely use a lot of these funds for this. So we really need somewhere to save it in the short ish term. We are not very savvy with this- can anyone suggest options and explain them simply?

We also put 100 a month into an account to save for our child. We don't want to open a junior ISA for him as we want to retain control of the choice of when he has access to this. This is currently at around 3k and is something we plan to continue to build without withdrawal for 15+ years. Not sure if this part is relevant- we are considering an ISA for this

Cash ISA for the £30k - not a stocks and shares one. As long as it's not a fixed term ISA you can take it out whenever you need it for the house move.

Was also going to suggest a cash ISA. One with easy access. £15 k each or £20k now and the rest after 6 April when the new tax year starts. Look on moneyfacts for the best rates.

The upcoming house move - are you buying your first house? If so and you're under 40, use Martin Lewis' £1 LISA trick to get some free money toward your house purchase. https://www.moneysavingexpert.com/savings/lifetime-isas/

However, remember that the £4k LISA allowance forms part of your overall £20k ISA allowance, so the above trick won't work if you have already used your £20k allowance on, say, a cash ISA.

You said "we": assuming you have a partner, you each get a separate ISA allowance.

You can offset a cash ISA against an (offset) mortgage.. you'll earn no interest on the ISA but it reduces the amount of interest you'll pay on the mortgage, you can still liberate the ISA if you need to spend it, and if you ever come out of the mortgage your savings will retain their tax efficient wrapper. Of course there are probably better rates of return out there - but this an Uber cautious way of doing things for us.

Put it in premium bonds you could win money and withdraw your money at anytime