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NSI and house sale funds
matty17r
Posts: 1,215 Forumite
Is the NSi Direct Saver the best place for house sale proceeds It is paying 0.8 at the moment and 0.7 from May. Do not want to open up current accounts as still need mortgage for new house which will be ready in sept/october. TIA
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Comments
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It's not clear, are you using the proceeds from your house sale to purchase the new house? If so then you can keep the money wherever you like and it will be protected for up to 6 months as long as it's no more than £1 million.
https://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-temporary-high-balances/#question10 -
Yes I will be using the funds to buy my new house. I just want the best rate of interest possible but do not want to go to down the current account route due to needing a mortgage still. Thank you for your reply.0
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Depends how much.
Shop around? Lots of comparison sites, including the moneysaving site!
eg sainsbury e-saver 1.01% (if over £30K).0
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