Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • 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
    • 5,127 Posts
    • 4,339 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
    • 3,101 Posts
    • 798 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
    • 5,465 Posts
    • 5,270 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....
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

111Posts Today

2,228Users online

Martin's Twitter
  • RT @iiSteveJonesii: @MartinSLewis After watching you talk this morning about me burning £300 I got on a comparison site tonight & sure enou?

  • In or near York? This Wed the @itvmlshow Roadshow" will be at the York Food & Drink Festival - do come and say hi; St Sampsons Square 11-4.

  • It's the subtle poetry and lyricism of tweets like this that I find so endearing https://t.co/XhSKBCGyXe

  • Follow Martin