Best way to deal with house sale money, will be 3 months b4 i get another property???

foxyuk

hi guys im out my house in less than 3 weeks and due to missives completed and lack of preferred houses on market looks like i will need to rent with my family or move in with friends or parents.

I will have the funds of our house i reckon for a minimum of 3 months or until we find a new house....

How do i go about investing this for the period >>> someone mentioned to me speak to bank about a 4 month minimum deposit..

One thing for sure it aint sitting in my solicitirs bank account earning interest


help?

[Deleted User]

foxyuk wrote: »

hi guys im out my house in less than 3 weeks and due to missives completed and lack of preferred houses on market looks like i will need to rent with my family or move in with friends or parents.

I will have the funds of our house i reckon for a minimum of 3 months or until we find a new house....

How do i go about investing this for the period >>> someone mentioned to me speak to bank about a 4 month minimum deposit..

One thing for sure it aint sitting in my solicitirs bank account earning interest


help?

Investing is long term i.e. 5 years minimum. Ideally 10 - 15+

I'd suggest you put 85k (the most you're covered for in one institution) in an easy access savings account - currently Derbyshire BS: Easy access 3.11% AER which has no withdrawal restrictions.

puddleduck

foxyuk wrote: »

hi guys im out my house in less than 3 weeks and due to missives completed and lack of preferred houses on market looks like i will need to rent with my family or move in with friends or parents.

I will have the funds of our house i reckon for a minimum of 3 months or until we find a new house....

How do i go about investing this for the period >>> someone mentioned to me speak to bank about a 4 month minimum deposit..

One thing for sure it aint sitting in my solicitirs bank account earning interest


help?

We're in a similar situation. We've split what we have fairly randomly between Derbyshire (3.11% - easy access) and Coventry (3.15% - up to four free withdrawals); after filling up our cash ISAs (Santander, 3.3%)

[Deleted User]

< 1 year = ISA and easy access savings account(s)
> 1 year = NS&I Index Linked Savings Certificates