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Safe investment of house sale proceeds
stravinsky_2
Posts: 1 Newbie
I am about to complete the sale of my house. I shall be renting for around 6 months while house hunting. The proceeds from the house sale far exceed the 85k protection under the FSCS. Id like to avoid opening multiple deposit accounts. How can I invest them and have maximum security in the event of a financial crash?
I also need to be able to get at funds quickly when buying my next property so as to maximise my position as a cash buyer. And a reasonable rate of interest would be nice too! Any ideas gratefully received.
I also need to be able to get at funds quickly when buying my next property so as to maximise my position as a cash buyer. And a reasonable rate of interest would be nice too! Any ideas gratefully received.
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Comments
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you have no option , if you want "safety" then you need multiple accounts each within the FSCS limit.0
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Go to Monte Carlo and put it all on red.
If you want the FSCS protection then £85k is all each bank/building society can give you. Some financial institutions are linked though so you couldn't, for example, put £85k in Barclays and £85k in Woolwich and have the whole lot protected.
You could save all your money with NS&I who will protect 100% of your money.0 -
£40,000 in premium bonds per person
£85,000 in separate bank(s) of your choosing
However, when was the last time a high street bank went down, and is it likely one will in the next 6 months?
Buy a few hundred lottery tickets as well
"Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!0
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