Put away deposit on a house

SGN

Hi,

I wonder if you could please help me chose a good saving account for a sum of around £30,000. This was half of the deposit we were about to hand out ahead of exchanging contract on a house when the seller unexpectedly pulled out. I am not too sure whether to go for an instant or else. We continue looking for another property but I doubt if anything gets completed within the next six months. So shall we go for an instant access or a fixed term for six months? Is it better to split the money between ISAs and savings accounts or keep everything in one account?

Any pointers/advice would be greatly appreciated as I am a complete novice with those things.

Thank you

Eponym

If you haven't already used your cash ISA allowance for this year you should definitely use that for part of the money. There's no sense paying tax if you don't have to.

Since you say 'we', I assume this is you and a partner so that should cover more than 1/3 of the money if you can both use your ISAs.

I would think you would be best going for instant access for flexibility.