Short term savings options

Tonski

I am in the process of moving house, so I have sold all of my stocks that were in my S&S ISA in case of a crash and filled this year's allowance in a cash ISA for me and my partner. I have ~50k left over sitting in a current account not earning any interest that I won't need to transfer to the solicitors for 4-6 weeks when the house completes. Are there any recommendations for the best way to earn a bit of interest from this money? Is the best option just a simple savers account or are there any better alternatives?

wmb194

Tonski said:

I am in the process of moving house, so I have sold all of my stocks that were in my S&S ISA in case of a crash and filled this year's allowance in a cash ISA for me and my partner.

I have ~50k left over sitting in a current account not earning any interest that I won't need to transfer to the solicitors for 4-6 weeks when the house completes.

Are there any recommendations for the best way to earn a bit of interest from this money? Is the best option just a simple savers account or are there any better alternatives?

An easy access savings account.

Change the 'sort' filter to 'rate.'

https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/

Mark_d

If I had 50k that I don't need for 4-6 weeks I'd just let it sit in my Kroo current account.  You could possibly get slightly more interest doing something clever but I value simplicity.

EthicsGradient

Yes, just a simple savings account, for that short a time. It should earn about £40 per week. Unless you have other non-ISA savings, that shouldn't exceed the tax-free savings band, even if you're a higher rate payer.

dojuls

For such a short time frame, you probably don’t want to take on any risk. A simple, easy-access savings account or a notice account (if you’re certain on the 4–6 week window) is likely the safest bet. You’ll only make a small bit of interest in that time, but at least it’s something better than sitting in a current account.

NedS

Tonski said:

I am in the process of moving house, so I have sold all of my stocks that were in my S&S ISA in case of a crash and filled this year's allowance in a cash ISA for me and my partner. I have ~50k left over sitting in a current account not earning any interest that I won't need to transfer to the solicitors for 4-6 weeks when the house completes. Are there any recommendations for the best way to earn a bit of interest from this money? Is the best option just a simple savers account or are there any better alternatives?

You could have left it in your S&S ISA and put it in a Short Term Money Market fund which would give you SONIA, the overnight bank rate (currently ~4%)

Cisco001

Is your house in chain?
If yes, you might transfer money from S&S ISA money to easy access Cash ISA, just in case one of the buyer suddenly fall out.