Where to put cash from house sale?

glasgowdan

We had 4 months to store 250k and got a savings account that was something in the region of 1.5%. I think it earned £250 a month net which was decent. Charter savings bank.

davidmcn

Lucky_Duck wrote: »

When I looked at this, the value increases if the money arises from the sale of property but this additional protection only lasts six months

If really paranoid, split your money anyway - FCA protection just means you'll get the money back eventually, not that you'll have easy access to it.

sheff6107

Stick it an ISA. You'll only get 1% but it's better than nothing.

Unless you go for stocks and shares nobody pays any interest nowadays

G_M

sheff6107 wrote: »

Stick it an ISA. You'll only get 1% but it's better than nothing.

Unless you go for stocks and shares nobody pays any interest nowadays

I'm guessing the proceeds of a property sale might exceed the annual ISA allowance........

[Deleted User]

davidmcn wrote: »

If really paranoid, split your money anyway - FCA protection just means you'll get the money back eventually, not that you'll have easy access to it.

That's what I'd do. Also check that if you put it in different banks they don't belong to the same Institution. See Martin's guide "Are Your Savings Safe?"