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Money After Selling Property?
konn1ch1ha
Posts: 247 Forumite
Hi all,
I'm looking for some advice where I should put the money from my property I am selling. I understand this is a loaded question so I'll briefly explain what my medium-term plan is.
My flat is nearly sold, will hopefully complete in the next few weeks. I am then looking to buy elsewhere but not immediately. Where or what accounts/ISAs would be a smart/fiscally sensible place to have it in t he meantime?
Thanks!
I'm looking for some advice where I should put the money from my property I am selling. I understand this is a loaded question so I'll briefly explain what my medium-term plan is.
My flat is nearly sold, will hopefully complete in the next few weeks. I am then looking to buy elsewhere but not immediately. Where or what accounts/ISAs would be a smart/fiscally sensible place to have it in t he meantime?
Thanks!
0
Comments
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How much are you talking about? £10K, 100K? £more? .... How much notice will you need to access? Are you a higher tax payer?#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3660
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Thanks for your response. It will be in the region of £120-140k. I am not a high tax payer.JGB1955 said:How much are you talking about? £10K, 100K? £more? .... How much notice will you need to access? Are you a higher tax payer?0 -
For the short term, NS&I Premium bonds seem to be the best 'go to' choice at the moment. No guarantee of winning, but your money is safe there.#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3661
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How quickly do you intend to buy again?“So we beat on, boats against the current, borne back ceaselessly into the past.”0
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Within a year I think.bostonerimus said:How quickly do you intend to buy again?0 -
The ISA limit is £20k so that's a non starter unless you're feeding in over 6-7 years. Just look for the account that has the best rate if you need it FSCS protected and need the money soon.konn1ch1ha said:
Thanks for your response. It will be in the region of £120-140k. I am not a high tax payer.JGB1955 said:How much are you talking about? £10K, 100K? £more? .... How much notice will you need to access? Are you a higher tax payer?Remember the saying: if it looks too good to be true it almost certainly is.0 -
Then just keep it in the bank or National Savings.konn1ch1ha said:
Within a year I think.bostonerimus said:How quickly do you intend to buy again?“So we beat on, boats against the current, borne back ceaselessly into the past.”0
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