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Protecting capital over short term
Dagadog
Posts: 17 Forumite
Hi Forum
I'm in the process of selling my house, and buying another. There appears to be a problem with the property I'm buying. I am getting a formal quote for remedial work, but it is looking likely that I'm going to have to pull out of the purchase.
My sale is going through, with no issues, and I have somewhere to move to while the issues with my purchase is resolved - or probably until I find and complete on another property.
This is going to leave me with a significant pot of money, for potentially 6 months. I've already got ~75k of savings with each of 3 providers. With interest rates dropping, and inflation rising, is there a low risk way to protect the value of that capital?
How long will a value in excess of 75k be protected against a bank failure in a single provider?
I'm in the process of selling my house, and buying another. There appears to be a problem with the property I'm buying. I am getting a formal quote for remedial work, but it is looking likely that I'm going to have to pull out of the purchase.
My sale is going through, with no issues, and I have somewhere to move to while the issues with my purchase is resolved - or probably until I find and complete on another property.
This is going to leave me with a significant pot of money, for potentially 6 months. I've already got ~75k of savings with each of 3 providers. With interest rates dropping, and inflation rising, is there a low risk way to protect the value of that capital?
How long will a value in excess of 75k be protected against a bank failure in a single provider?
0
Comments
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http://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-temporary-high-balances/
Or just put the lot in income bonds with NS&I.
http://www.nsandi.com/0
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