Best savings for access

denwyn

We're looking at selling our home and going into rented until we find a suitable property to buy. We want to put all the money from the sale into a bank account with access to the interest monthly to go towards rental cost. Looking at putting in approx £240,000. What is best account to look at. Selling now as prices offered for our house to good to miss out on, and we would be in better position then as cash buyers with nothing to sell.

Thanks

eskbanker

denwyn wrote: »

We want to put all the money from the sale into a sack vs account with access to missing the interest to go towards rental cost.

I suspect you may have some auto-correct issues here! Anyway, best places to start are the articles linked above, labelled 'top savings accounts' and 'how to start saving', but don't be under any illusion that interest on £24K will make any meaningful contribution to rental costs (beyond about £30-40/month), given current rates....

denwyn

Was typed really quickly, should have checked it before, yes you have the just of it, we are looking to get max interest on £240,000,which we can access the interest to help with rental payments monthly. Don't want to use any of the £240000. Thats to go towards buying new home.

eskbanker

For £240K rather than £24K, I'd give the same answer as on this parallel thread with someone in the same boat: https://forums.moneysavingexpert.com/discussion/5675502