Saving Equity From House Sale

rosegardenblue

We will be selling our property and then renting for probably 6-12 months + (moving to a new area so want to rent first before buying). We hopefully have equity exceeding £400k and so we are now looking into savings options. We don't want to rent out our current property.
We need easy access and risk free because we will be buying at some point which could be sooner than 12 months if we find the right property. I know there is protection up to £170k for joint accounts.
What would you recommend - should we open 3 regular savings accounts? As the amounts needed to be transferred will exceed the daily allowance, would my bank allow this if I speak to them and explain the situation? I don't want to have that amount of money in my bank account for too long - I've watched 'Years and Years'! 
Thanks.

Linton

NS&I (National Savings) are 100% guaranteed by the government for any amount of money, offer an interest rate of 1% and can be fully accessed at any time also for any amount of money.  If you were to use a single normal bank your money would be fully guaranteed by FSCS as it comes from the sale of a house for which there are special arrangements.

eskbanker

Linton said:

If you were to use a single normal bank your money would be fully guaranteed by FSCS as it comes from the sale of a house for which there are special arrangements.

True, but OP should bear in mind that that FSCS temporary high balances protection only applies for up to six months....