Very short term investment

kaj712

I will have about £250k from the sale of a house to invest for 5 or 6 months before buying a new build house. Where is the best safe place to invest this sum?

amcluesent

The only save saving (not investment) will be in five separate banks covered for £50K by the Financial Services Compensation Scheme

Paul_Herring

kaj712 wrote: »

I will have about £250k from the sale of a house to invest for 5 or 6 months before buying a new build house. Where is the best safe place to invest this sum?

For such a short term, you wouldn't really want to invest it anywhere ('invest' implies things like shares and other equities)- a savings account is the best place.

amcluesent wrote: »

The only save saving (not investment) will be in five separate banks covered for £50K by the Financial Services Compensation Scheme

If you're worried about that, then you'd want six separate banks, since any interest earned wouldn't be covered.