No Mortgage/Moving area thinking of renting short term to find dream home?

bristolboy25

We have nearly paid off our home which is valued at around £240K, we are moving areas and as so hard to find a home and with chain etc, we are thinking of selling the home then renting and putting the £240K in a high interest account, which will then pay for the renting accomodation until we find our dream home.

Just to check really, am I right in thinking this will not cost us anything unless house prices went up? as the interest more than pays the rent and we just sit back and wait for the right home to come along?

Also on that sort of money what is going to be the best interest you could expect, but be able to take out quickly incase of purchase.

Thanks