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Help savings advice
bigbeff
Posts: 1,119 Forumite
Hi
I am about to receive £130k for the sale of a property. I have had an offer accepted on another property just, so I will not have that amount of cash for long - literally until property sale goes through. How should I store it....obviously I do not just want it sat in my current account!!
Thanks in advance
I am about to receive £130k for the sale of a property. I have had an offer accepted on another property just, so I will not have that amount of cash for long - literally until property sale goes through. How should I store it....obviously I do not just want it sat in my current account!!
Thanks in advance
Debt busting 2022 Total £15842.68 £0 (100% paid since 1/1/22)
- DFD: September 1st 2023[/b]
Savings diary: https://forums.moneysavingexpert.com/discussion/6472040/time-to-build-my-future#latest
0
Comments
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NS&I Bonds - 100% safe and government backed
Interest Rate: 1.00% gross/AER until 30 April 2017 and then 0.75% gross/AER from 1 May 2017
https://www.nsandi.com/income-bondsSaved Nitty Gritty £7440.75 [149%] / £5000-[Sep] £58.44:starmod: for the 'Save 12k in 2017' #157
2017 Womble #35 £3463.27
Sept NSDs 4/15:staradminCCCChl 9/12 months:DSept PPChl#002 Pts 71 0 -
NS&I is completely safe, for any length of time.
However if you are going to have this cash for only a very short length of time you could safely leave it in your current account, as the FSCS covers temporary balances like this of up to one million pounds for up to six months.Eco Miser
Saving money for well over half a century0
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