Best thing to do with money from house sale

philippahunt

Hope someone can offer a small ray of advice about the best place to stash some cash when we sell our home.

We're hoping to complete our house sale at the end of July, but will not be re-buying in the UK as we're emigrating around September/October time. Because we'll be renting for a few months until we decide where we'd like to settle, we don't want to transfer these savings to our NZ account until the exchange rates picks up - and as everywhere else, it's dire at the moment.

But what should I do with it?? I have quite a bit of dosh stored in various Building Societies and don't have any debts. I'm obviously concerned about reducing my risk by not investing more than £35k with any bank, but need to keep it easy to access from abroad.
Can anyone suggest anything pleeeze??

gozomark

why £35K ? The protected limit is £50K :-)

Reaper

Furthermore if you open a joint account you can put £100,000 in fully protected.

If you are moving abroad then you will not find it easy to open new accounts so switching it around to make sure you get the best rates becomes very hard. I suggest looking at the Investec High Five account which pays the average of the top 5 rates on the market so you know it will stay near the top. However be aware you need 3 months notice to withdraw money.