Home for proceeds of house sale for 12 months

Fuzzybucket89

Hi All,

I'm looking for some advice.  My wife and I are in the process of selling our house, but won't be using the proceeds to buy another property at this point in time.  The idea is to rent for 12 months before we find something.  So, we would like to invest the proceeds (circa £470k) in some sort of easy access account that pays monthly interest.  Of course we are slightly nervous about investing this money, especially with the joint account FSCS limit only being £170k.  Would you guys just go ahead and invest the lot in one account with one reputable bank or building society, or look to open separate joint accounts with 3 reputable banks or building societies, or would you look to invest in something like Hargreaves Lansdown's Active Savings account, who manage the account for us, but will still split the money into accounts with 3 financial partners?

I would welcome your thoughts.

CM

Albermarle

You have some increased cover for a limited time.
Temporary high balances | Check your money is protected | FSCS

After that you can save with NS & I, where there is unlimited cover as it is the Govt.

Otherwise you should split it into £85K chunks with different providers.

Personally I would not be losing much sleep if I had a bit more than £85K with Barclays, Nat West, Nationwide etc
but I would certainly not put nearly half a Million Pounds with one provider.