£200 k

pete_e

I am selling my house & not buying another for 6 to 12 months or longer. where is the best place to store this amount of money - i would need easy access in case the right property became available suddenly. Thanks in anticipation!!!

bendix

pete_e wrote: »

I am selling my house & not buying another for 6 to 12 months or longer. where is the best place to store this amount of money - i would need easy access in case the right property became available suddenly. Thanks in anticipation!!!

I'd try a bank if I were you. Or a large shoe box. Or a safety deposit box.

I guess it all depends on your risk profile.

Marco12452

Six months is too short a period to rely on an investment to pay off. You can only use 5,340 in a cash ISA (x2 if you have a partner). Neither of these would suit your criteria though.
It can only really be a bank account for this legnth of time unless you want to adopt some risk. If so you could invest in a managed portfolio on one of the internet fund supermarkets (try iii.co.uk). I would suggest this rather than pick your own portfolio if you are not confident enough to do so. This will give a range of funds that are likely in the longer term to outperfom the bank rates, but the risk here is 6-12 month as it may not have time to recover from any dip that there may be. You can choose low, medium or high risk.
For the safe bet ING Direct are offering 3% guarenteed for 12 months. The other banks in that % range are all using a 1% bonus for 12 months. this wont beat inflation, but beats under the mattress.