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  • FIRST POST
    • Poggibonsi
    • By Poggibonsi 11th Mar 17, 5:58 PM
    • 1Posts
    • 0Thanks
    Poggibonsi
    House sale investment
    • #1
    • 11th Mar 17, 5:58 PM
    House sale investment 11th Mar 17 at 5:58 PM
    Hi, I'm New to the forum and hope I can get some advice.
    I will soon be selling my house and plan to go into rented accommodation. I would like to invest the proceeds - 250k - for a short term until the right house comes along, what would be the current best means of investment? I'm hoping to look at month's rather than a year.
    Thank you!
Page 1
    • badger09
    • By badger09 11th Mar 17, 6:09 PM
    • 4,849 Posts
    • 4,042 Thanks
    badger09
    • #2
    • 11th Mar 17, 6:09 PM
    • #2
    • 11th Mar 17, 6:09 PM
    Hi, I'm New to the forum and hope I can get some advice.
    I will soon be selling my house and plan to go into rented accommodation. I would like to invest the proceeds - 250k - for a short term until the right house comes along, what would be the current best means of investment? I'm hoping to look at month's rather than a year.
    Thank you!
    Originally posted by Poggibonsi
    Hello & welcome

    If you're talking about months then your simplest solution would be NS&I. Income Bonds are currently paying p1% but drops to 0.75% on 1 May

    https://www.nsandi.com/our-products

    If you're not going to plough the whole 250k back into another house, then have a look here to maximise what you have left over

    http://www.moneysavingexpert.com/savings/which-saving-account
    • Anthorn
    • By Anthorn 23rd Mar 17, 8:54 AM
    • 2,991 Posts
    • 775 Thanks
    Anthorn
    • #3
    • 23rd Mar 17, 8:54 AM
    • #3
    • 23rd Mar 17, 8:54 AM
    Hi, I'm New to the forum and hope I can get some advice.
    I will soon be selling my house and plan to go into rented accommodation. I would like to invest the proceeds - 250k - for a short term until the right house comes along, what would be the current best means of investment? I'm hoping to look at month's rather than a year.
    Thank you!
    Originally posted by Poggibonsi
    You can't afford to lose it and you don't know when you'll need it, so an instant access cash ISA and one or more bank or building society instant access savings accounts in U.K. banks or building societies with FSCS protection.
    • eskbanker
    • By eskbanker 23rd Mar 17, 1:28 PM
    • 4,472 Posts
    • 4,211 Thanks
    eskbanker
    • #4
    • 23rd Mar 17, 1:28 PM
    • #4
    • 23rd Mar 17, 1:28 PM
    Worth noting that the normal FSCS compensation limit of 85K per bank(/group) is extended to 1m for up to six months for temporary high balances such as those from selling your home, as per https://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-temporary-high-balances/.

    In other words, you could put your whole 250K into one 1%+ savings account (make sure it pays interest in the full amount), at least to start with, and move it to NS&I for ongoing protection (or split across multiple providers) if you haven't bought within six months....
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