Safe place to save proceeds from sale house in the short term?

brite2006

My sister in law has sold her house, and is staying with her parents until they look to buy a new house next year.

She wants to put her proceeds from the sale somewhere safe until then, but she's concerned that the protected savings limit won't keep her money safe.

She's suggested National Savings and Premium Bonds as options - does anyone have any recommendations, please?

xylophone

https://www.fscs.org.uk/what-we-cover/questions-and-answers/qas-about-temporary-high-balances/

Otherwise NS&I will be fine.

Freddie_Allen

She can buy gold and keep it in a trusted bank's locker or she could also invest in fixed deposit. Both of them would be safe and pretty much profitable.

ColdIron

Foolish advice for a short term home for a house deposit, ignore this. Most banks don't have 'lockers' these days and if you find one, good luck rocking up with 30 pounds of metal

eskbanker

ColdIron wrote: »

Foolish advice for a short term home for a house deposit, ignore this. Most banks don't have 'lockers' these days and if you find one, good luck rocking up with 30 pounds of metal

Perhaps things are different in Freddie's declared location, which might explain the lack of relevance of the advice to someone in the UK....

djpailo

https://www.nsandi.com/our-products

All money is safe, decide which product or products suit you.

2010

Freddie_Allen wrote: »

She can buy gold and keep it in a trusted bank's locker or she could also invest in fixed deposit. Both of them would be safe and pretty much profitable.

Fantasy advice from La La Land.