Mortgage money after sale

ARIM

Hello, hope this finds you all in rude health.
We have (hopefully) sold our home but we can not find another one we like, so our money will be going into one or both of our bank accounts.
we have a three month grace period being held on our mortgage rate, which we obviously want to keep running.
This will give us approximately 5 months in total to find a property, get through the legal and processes and move in before deadline date.
Our immediate problem is one of where to put the funds from the proceeds of the sale ready to use to continue the mortgage.
Any advice gratefully received.
Thank yiu

IdrisJazz

The Savings area of this site will give you the best easy access savings rates available on the market at the moment.

Chip maybe?

You can get good rates at the moment, but make sure you don't lock it away if you need to move quickly.

ARIM

Thank you IdrisJazz, we didn’t know if there would be tax implications once it hits a bank account and starts earning interest. What is Chip please?

housebuyer143

ARIM said:

Thank you IdrisJazz, we didn’t know if there would be tax implications once it hits a bank account and starts earning interest. What is Chip please?

Yes there will be but best to go to the savings board as loads and loads of posts about similar things on there.