£40,000 to save

tceditor

Hello all.
i have recently sold a small flat in Sussex, making over 100% (not bad eh?), and I now have around £40,000 to save for around 6 months until I put it all in another home.
Any suggestions of where I should keep this until then?
Thanks
Paul

grumbler

£25K to A&L online saver.

If you are upsizing there is no reason to be delighted with 100% profit made as a result of rising prices. Usually you will lose more when buying bigger property. Only those who downsize or move abroad can benefit from rising property prices in UK.

pennies2pounds_3

£30k in premium bonds £10k in a-another savings account . U might win a million and make even more money as profit but you wont lose your capital with premium bonds .

http://www.nsandi.com

P.s if you get the money in before the end of april you will be entered in junes draw.

Stonk

It's only for 6 months though, so the turnaround time when buying Premium Bonds is rather too long (e.g. if they receive your application on 1 May, you won't get in a draw until July).

For such a timescale, I'd say just use the two highest-paying savings accounts, which are something like A&L (which has a max of £25K) and B&B eSavings. I have both of these, and they are fairly quick to open and shuffle money into.

Further to grumbler's comment about house price "gains", this article hits it on the head nicely:
http://news.bbc.co.uk/1/hi/business/3701070.stm
Great ammo for shutting up people who go on about how much profit they've made on their homes!