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Sale of Property Money advise please... Moved from House Buying +
BertieUK
Posts: 1,701 Forumite
We hope to buy a property at the same time as we sell, but if we do not manage this, we would have to rent for a few months (if we could find a place that would take us and our dog)
Therefore we would like to ask if anyone could tell us where would be the safest place to invest the 'sale money' temporarily, but still be able to get it out again quickly.
Many thank's for any advice.
The total sum would be around £250k
Therefore we would like to ask if anyone could tell us where would be the safest place to invest the 'sale money' temporarily, but still be able to get it out again quickly.
Many thank's for any advice.
The total sum would be around £250k
0
Comments
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You wouldn't invest it!
You would split it in three and put in instant access saving accounts0 -
Only options available that would suit are under price inflation returns, nothing you can do about that.
This and next years cash ISA can take about 22K+
Premium Bonds can take 60K, guaranteed nothing in return, but they are instant access, safe, fun and may get you a million.
The rest should be spread around highest paying a/c's that are under 90 day notice.
..._0 -
i think with premium bonds you don't get entered in the draw for for 1st month you own them, so they are not so good for very short-term money.0
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The safest place for it is an NS&I Direct Saver account
http://www.nsandi.com/savings-direct-saver
It's part of the treasury so the 85K limit doesn't apply, interest rates are low at 1.5% but it is easy access so good for short term storage0 -
Thank you all for your information it has helped greatly.
Mainly being in my 70s and not altogether confident with todays banking records, I wanted my monies to be as safe as safe could be, which I know is a big ask, and I am not duly worried about the interest I may get but any at all would be very helpful, so I am grateful to you all for giving me these options.
The NS&I Direct Saver account looks a good choice for the main bulk of my money.:)0
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