FSCS increased limit for house sale proceeds?

Trying_to_be_good

I know there was a consultation on increasing the FSCS, but can't find anything that says it was/is being introduced.

Can anyone shed any light, please? My sale and purchase are not happening on the same date, so I need my money to be safe for the couple of weeks in between.

Many thanks

noh

Nothing implemented.
Could be sometime yet if at all.
Consultation document here:-
http://www.fsa.gov.uk/pubs/cp/cp09_11.pdf

Reaper

If you put it with Northern Rock or other government owned institution then you should be safe enough.

Trying_to_be_good

noh wrote: »

Nothing implemented.
Could be sometime yet if at all.
Consultation document here:-
http://www.fsa.gov.uk/pubs/cp/cp09_11.pdf

Thanks - I could find that, and a few responses from FSCS members, but no more. Any extension will be too late for me, then!

soulsaver

As Reaper said Northern Rock 100% safe, especially if you dont intend to be in there long enough for the govt to sell it on.. unlikely in a couple of weeks.
But actually I take your point that HMG were supposed to be looking at sensible stuff like increasing protection for these transactions and for depositors in general by 'mid 2009'. September's here and we've got next to nowt. Surprised?