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Short term house sale proceeds - where to invest?
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Baconsarniedelights
Posts: 1 Newbie
Hi, after advice pls. £320k has landed in my current account after my house sale. I need to keep hold of this for circa 2 months until my new build is ready.
im a higher rate tax payer with no ISA invested this year.
I am thinking of putting £20k in to an easy access cash ISA, £5k into my Barclays Rainy Day Saver which is around 5%, then the rest in to Premium Bonds.
Does that sound right?
any other suggestions? Thanks!
im a higher rate tax payer with no ISA invested this year.
I am thinking of putting £20k in to an easy access cash ISA, £5k into my Barclays Rainy Day Saver which is around 5%, then the rest in to Premium Bonds.
Does that sound right?
any other suggestions? Thanks!
0
Comments
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1 person can only hold £50k in Premium Bonds.
Since it's only 2 months I wouldn't do anything too complicated. Premium Bonds probably aren't worth it for 2 months but max that out if you want. The rest can go into the highest paying savings account you can find. Normally you shouldn't hold more than £85k in one institution but money from house sales is fully protected for 6 months so you shouldn't need to worry about that, assuming there are no further delays.1
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