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What to do with equity from house sale?

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Hi all. Hoping for some advice or signposting of where to look.
Basically we have sold our house and will be going into rented for 6-12 months whilst we find our next home (nothing on market locally that fits our needs and prepared to wait). 
Upon completing we will have around 145k to come back to us after our mortgage is redeemed and i dont think its best just sat in our current accounts. Are most savings accunts still pretty rubbish in terms of interest rates? Is there anywhere else i coukd look to put this money temporarily where its safe and may earn some interest back?

Comments

  • Nebulous2
    Nebulous2 Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Not a lot of options I'm afraid.  £50k each into premium bonds is about as safe as it gets. The higher returns you go for bring more risk. 
  • Doshwaster
    Doshwaster Posts: 6,312 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    £50k each in Premium Bonds?


  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 23 April 2021 at 9:03PM
    If you need the money in 6 to 12 months, then cash in the bank is a great place then keep the money. NS&I premium bonds would also be ok. you just want zero risk and don't worry about gains.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Billycock
    Billycock Posts: 172 Forumite
    100 Posts Name Dropper
    £84k in Paragon Bank @ 0.41% remaining with Marcus @ 0.40%   FSCS up to £85k
  • george4064
    george4064 Posts: 2,928 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    1. Max out premium bonds

    2. Open up either a fixed rate or notice account for the rest of the cash, length of fox/length of notice period is down to you and your circumstances.

    https://www.moneysavingexpert.com/savings/
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2025 - #024 £1,450 / £15,000 (9%)
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