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Saving a lump sum
We are inbetween houses at the moment and have about £180k in our bank account, can anyone recommend the best thing to do with this amount of money? It’s currently in an account where the interest rate is 2.3% so I know I can do better. I don’t know whether to split it up between different accounts/ISA’s or keep it together in one.
I do want access to it so locking it away isn’t an option.
Thanks
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As regards splitting or not, the FSCS limit is £120,000 per person per banking licence, so £180k in a joint account would be fine. As the proceeds of the sale of your primary residence it may be covered for 6 months anyway.
Eco Miser
Saving money for well over half a century2
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