Short term savings

EmmsySquared

Hi all
We are planning on selling our house to move to Scotland. We don't want to buy right away when we get there as we want to get a solid feel for houses, prices and the areas. So we plan to rent for 6 months or so first.
My question is, where should I put the money from the sale of the house for this time?
We should end up with £145k of money once the mortgage has been paid off.
With thanks!

eskbanker

Assuming the 'we' signifies two adults, the simplest thing is probably to open a joint Tesco Internet Saver account, which pays 1.45% interest, or alternatively a pair of sole Marcus accounts at 1.5%.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

DrSyn

You can also look at these best buy savings tables.

https://www.thisismoney.co.uk/money/saving/index.html

kidmugsy

EmmsySquared wrote: »

Hi all
We are planning on selling our house to move to Scotland. We don't want to buy right away when we get there

You would be wise to remember that when you agree to buy a house in Scotland you can't renege on the deal or you'll be dragged off to court.

In Scotland, unlike England, your word is your bond in the housing market.

ANDY597

Kidmugsy, that's not really true.

You can back out right up until the missives are signed but after that your knackered.

EmmsySquared

Sorry for the delayed reply, but thanks for the advice!

kidmugsy

ANDY597 wrote: »

Kidmugsy, that's not really true.

You can back out right up until the missives are signed but after that your knackered.

It's so nearly true that you're just quibbling - it comes as a great shock to Englishmen and some do indeed end up in court.

eskbanker

kidmugsy wrote: »

It's so nearly true that you're just quibbling - it comes as a great shock to Englishmen and some do indeed end up in court.

....and, speaking of quibbling, are English women also shocked?