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paying off mortgage
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dutch123
Posts: 50 Forumite
It seems an ideal situation to be in - we can pay off our mortgage and will have to park 400K somewhere until we can find a new house (and hopefully be mortgage free). Is the simplest and safest way to put the money in various accounts and then gather it all up again when we are ready to buy?
Or is there another holding account system that gets round the problem of the £85K limit to the accounts for the short term...
once bitten by the iceland saga and don't want to risk having the money in a lump sum in any account even for a couple of weeks
Or is there another holding account system that gets round the problem of the £85K limit to the accounts for the short term...
once bitten by the iceland saga and don't want to risk having the money in a lump sum in any account even for a couple of weeks
0
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British banks wont go under.
But if that is a major concern of yours then yes your best bet is to dish it out between the different banks.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
just a thought - 3 children with accounts (they are under 16) - Do they qualify for their own £85k limit... (they will be rich kids but only for a couple of weeks!0
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