Best home for our released equity

si-mate

We've just exchanged contracts on our house and will be renting for a few months (maybe longer) to see what happens with the housing market.

Where's best for our £70,000 for the next few months. I don't want to be locked in for any period in case we find somewhere to buy.

JimmyTheWig

Read the best savings account article on this site - http://www.moneysavingexpert.com/savings/savings-accounts-best-interest.

Put the money in savings accounts (or cash ISAs). _Don't_ put the money in stocks and shares as these are a long term (5+ year) investment.

If these are your only savings and you are to hold them jointly (which you won't want to do if one of you pays a higher rate of tax than the other) then you won't need to worry about keeping them safe as you will be just within the limit to get the whole lot back if the bank you decide on crashes.
If the money is to be held in one name only then split half and half with two different banks.