Money from our house sale

GaeGae

We have just sold our house and are emigrating to New Zealand (in May/June). We will rent for about 4-6 months, then will hopefully buy a house. Where, in the meantime, should we 'put' the £130,000.00 from the sale?

Thanks in advance

m0n3y_3

Firstly to be safe only put 85K in a single account (or 170K in a Joint account), and if using two accounts make sure they don't share the same FSA cover, see
http://www.moneysavingexpert.com/savings/safe-savings
Secondly find the best rate you can, if you need it in 6 months going to need to be fairly instance access.

calypso_rhapsody

Presumably you are going to want this in NZ dollars at some point so probably worth having the money on instant access (NatWest? check the best buys list - i'm not that up to date) - watch for catches on withdrawals. Will need to be an internet account i guess so you can manage it from NZ?

Then start keeping an eye on the exchange rates .... make enquiries about the best way to buy (am sure there's something on this site!) and be ready to move when you think the rate is right .. least that's what i'd be doing! The few percent you can earn in interest in 6 months could easily be over shadowed by a gain or loss on forex!