Short-term saving advice

Fluffysaver

can anyone suggest a good place to stash the equity from the sale of my property - hopefully it will only be for 6 months or less.
i plan to sell my house, temporarily move into my boyfriend's house with the ultimate aim of selling that and buying one together (maybe easier than having 2 sale chains). or is there a better way of doing this whole "house-combining" transaction ?? i'm not that chuffed about stepping off the property ladder but cna't see any other way of doing this.

Loughton_Monkey

You have many issues here, rather than simply where to stash money for 6 months. [The answers can realistically only revolve around some sort of savings account at around 2.75%].

You should trawl the mortgage market to learn what you and your boyfriend will be 'into' with new joint mortgages (compared with what you each have now).

One strategy, however, could be good - especially if you are not looking to "max" your joint mortgage limits. The strategy would be this:

1. Sell your house, putting the cash into savings where you can get at it.
2. Investigate getting an "Offset" mortgage. Now you and your boyfriend can go and buy new property, using your cash, getting a good price because you are not a 'chain' buyer.
3. Then your boyfriend puts his on the market, hopefully holding out for decent price, since he is not part of a chain either.
4. Once done, his equity can be thrown into the mortgage reducing interest payments.

If, however, you need both your equity amounts, and both your earnings amounts (for required new mortgage) then this is unlikely to work.