Best Savings Account for 6 months

mike-lee

Dear All,

We are about to sell our house and move into rented. I am looking for the best saving account to move our equity into in order to fund our rent for the next six months.

Does anyone know of the best rate in this situation? It would be in my wife's name so we would earn the gross rate.

Any suggestions welcome.

Many thanks
Mike

Steve_xx

HBOS websaver - 3.30% on a 6 month bond if you put 100K or more in there. I would split it into 50k lots to enjoy full protection under the FSA compesation rules. Though you could enjoy protection upto 100k if you put it into a joint account. But then there's the tax issue to sort.

http://www.halifax.co.uk/savings/fixedwebsaver.asp

barny_100

Steve_xx wrote: »

HBOS websaver - 3.30% on a 6 month bond if you put 100K or more in there. I would split it into 50k lots to enjoy full protection under the FSA compesation rules. Though you could enjoy protection upto 100k if you put it into a joint account. But then there's the tax issue to sort.

http://www.halifax.co.uk/savings/fixedwebsaver.asp

Yet again it's one of these annoying 2 accounts for the price of 1!

To open a Fixed Rate Web Saver, you must first open a Variable Rate Web Saver

Baldur

Steve_xx wrote: »

HBOS websaver - 3.30% on a 6 month bond if you put 100K or more in there. I would split it into 50k lots to enjoy full protection under the FSA compesation rules. Though you could enjoy protection upto 100k if you put it into a joint account. But then there's the tax issue to sort.

http://www.halifax.co.uk/savings/fixedwebsaver.asp

A fixed rate with no withdrawals is probably not much use, if you read the OP's post again:

I am looking for the best saving account to move our equity into in order to fund our rent for the next six months.

Steve_xx

Baldur wrote: »

A fixed rate with no withdrawals is probably not much use, if you read the OP's post again:

They could hold back some of the proceeds of the sale in an instant access account in order to service the rent. If their rent for 6 months was say £3,600 then they could put remainder which could easily be £150k into a bond. Therefore I was considering a number useful ways for them to maximise their gain. Don't you agree?

Steve_xx

barny_100 wrote: »

Yet again it's one of these annoying 2 accounts for the price of 1!

It matters not really, as both Websaver account and bond can be opened and managed online.