We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What to do with the money between houses
maada101
Posts: 2 Newbie
We've just sold our house (yeah!), but it will be at least 6 weeks, probably longer, before we buy another house. Can anyone advise us on what to do with the money in the short term?
thanks.
thanks.
0
Comments
-
Depends.
The £75K limit on bank protection is extended in situations like this, so for simplicity you could stash it all together.
If you want to maximise income though you'd need to spread it around in various high interest accounts.
Forget investments as the timeframe is inadequate.0 -
Give it to me , I 'll give you better returns than anyone else.
It's secret because of the advantages so no regulation, you understand.
Savingstream pays 1% A MONTH.0 -
Chartered savings bank are 1.3%, paid monthly, in a 30 day access account, up to 250k. Depending how much you've got it could be an extra £200 a month or so, not worth ignoring.0
-
We split ours between different accounts from different banks so all the money was protected.
Interest rates too low to get any short term return.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
As I said: unnecessary.We split ours between different accounts from different banks so all the money was protected.From 3 July 2015, the FSCS will provide a £1 million protection limit for temporary high balances held with your bank, building society or credit union if it fails. Read our Q&As about temporary high balances for more information.Payments in connection with the following could be categorised as temporary high balances:
Sums paid to the depositor in respect of:- Real estate transactions (property purchase, sale proceeds, equity release) relating to a depositor's main or only residence
- Benefits payable under an insurance policy
- Personal injury compensation (unlimited amount)
- Disability or incapacity (state benefits)
- Claim for compensation for wrongful conviction
- Claim for compensation for unfair dismissal
- Redundancy (voluntary or compulsory)
- Marriage or civil partnership
- Divorce or dissolution of their civil partnership
- Benefits payable on retirement
- Benefits payable on death
- A claim for compensation in respect of a person’s death
- Inheritance
- Proceeds of a deceased’s estate held by their Personal Representative
http://www.fscs.org.uk/what-we-cover/products/banks-building-societies/0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards