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Where to put £500K easy access?
Rocket_Scientist
Posts: 16 Forumite
This is a nice problem to have, but I am totally stumped!
We will soon have sold our house for £500K and are moving into temporary accommodation while we look for a new property.
Mr RS has £83K in the AA and Tesco savings
I have £20K in Saga
I suppose I'll have to risk our money and have more than £85K with one banking group. I know its an outside risk, but when it's your life savings....
We need relatively instant access, or one month's notice for when we (hopefully) find our dream home. Many thanks for any replies
We will soon have sold our house for £500K and are moving into temporary accommodation while we look for a new property.
Mr RS has £83K in the AA and Tesco savings
I have £20K in Saga
I suppose I'll have to risk our money and have more than £85K with one banking group. I know its an outside risk, but when it's your life savings....
We need relatively instant access, or one month's notice for when we (hopefully) find our dream home. Many thanks for any replies
0
Comments
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NS&I accounts have a limitless guarantee.I am one of the Dogs of the Index.0
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A NS&I Income Bond is easy access, will pay you 1.25% gross and all of your capital is guaranteed.0
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The BoE has asked banks to prepare for deposit guarantees for temporary high limits of up to £1m, and responses were due back from banks last month. Unfortunately they don't need to be implemented for years. It would be great if some forward thinking bank was able to offer such a service without regulation and increase the choice beyond ns&i.0
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Don't forget that NS&I pay gross so you may need to notify HMRC.0
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