Where to put £700k House Sale Money

Abbafan1972

I can keep it safe for you….I’ll pm you my bank details. 😂

2010

boingy said:

NS&I normal savings rate is increasing to 3.4% from 13th July. Not a world beating rate but they have the advantage of not being limited by the 85k FSCS cover so you could safely put the whole lot into one account. Lower interest but less admin than opening 8 or 9 accounts. You should definitely use up each of your ISA allowances too, if you haven't already.

Have to agree.
I would put the full amount into PB and £20k into an ISA and the rest in NS&I. 3.4%.
Full amount protected, less hassle and less tax.

jaceyboy

NS&I the whole amount minus ISA's

km1500

would be interest to know how you get on transferring it - I am referring to probably the daily limits on faster payments and the banks fraud filters

aroominyork

Since you are a higher rate taxpayer, short duration low coupon nominal gilts (flavour of the year on this forum) could be an option. Yields are shown here https://www.yieldgimp.com/gilt-yields