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House sale - where to put money?
simonp
Posts: 109 Forumite
Just about to complete my house sale and as I’m going to rent for 6-12 months I’m going to have several hundred thousand pounds to look after for a while.
I have a Marcus savings account and was going to stick it all in there. Is that safe enough? Do I need to open accounts with other providers and spread it around for safety? Or is that overkill?
0
Comments
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NS&I pay more than Marcus currently do (AFAICR) and don't have the £85k limit, so I'd put it in there.2
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https://www.nsandi.com/income-bonds
You could then pay the interest into Marcus.1 -
Thanks both - good advice and wasn't aware of the no limit. Might also chuck £50k into premium bonds!1
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Might also chuck £50k into premium bonds!
Good Luck!
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Just lend it all to me; I GUARANTEE to get better returns for you than from anywhere else! It's a bit complicated, so I won't bother explaining how...Cheers!Artful: The Pyramids: Cairo.3
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Given current realities it is definitely not overkill to make sure the money is protected.
For money from house sales, up to £1 million will be protected for up to six months in any bank account with FSCS protection.
For longer than 6 months NS&I is good.2
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