Where to put 180k
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bertsilver
Posts: 135 Forumite
I have £180k coming from a house sale, where can I put it for easy access if I need it.
We are thinking of moving so if we do I would need to get the money for the deposit.
We are thinking of moving so if we do I would need to get the money for the deposit.
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Comments
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You can compare instant access savings accounts here: http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
Many people would suggest simply a NS&I account, which is backed by the British government. Link here: https://www.nsandi.com/
Also worth noting that you are protected by the temporary high balance FSCS protection as the cash is from a house sale, higher than the standard £85k FSCS protection. More info here: https://www.fscs.org.uk/news/protection/new-temporary-high-balances/"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2021 - #027 £15,268 (76%)0 -
george4064 wrote: »You can compare instant access savings accounts here: http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
Many people would suggest simply a NS&I account, which is backed by the British government. Link here: https://www.nsandi.com/
Also worth noting that you are protected by the temporary high balance FSCS protection as the cash is from a house sale, higher than the standard £85k FSCS protection. More info here: https://www.fscs.org.uk/news/protection/new-temporary-high-balances/
Is there any difference in say sticking that money into a Marcus account rather than NS&I?Save £12k in 2019 #154 - £14,826.60/£12kSave £12k in 2020 #128 - £4,155.62/£10k0 -
george4064 wrote: »You can compare instant access savings accounts here: http://www.moneysavingexpert.com/savings/savings-accounts-best-interest
Many people would suggest simply a NS&I account, which is backed by the British government. Link here: https://www.nsandi.com/
Also worth noting that you are protected by the temporary high balance FSCS protection as the cash is from a house sale, higher than the standard £85k FSCS protection. More info here: https://www.fscs.org.uk/news/protection/new-temporary-high-balances/
I was thinking about NS&I which like you say has full protection.
Might put £50k in premium bonds and rest in their saver account.0 -
george4064 wrote: »Also worth noting that you are protected by the temporary high balance FSCS protection as the cash is from a house sale, higher than the standard £85k FSCS protection. More info here: https://www.fscs.org.uk/news/protection/new-temporary-high-balances/
OP's reference to an apparently confirmed house sale, while concurrently only "thinking of moving", suggests that this money doesn't relate to their main residence....0 -
If it is "we" are thinking of moving then do accounts have double the amount of protection if there are two people named?0
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Flugelhorn wrote: »If it is "we" are thinking of moving then do accounts have double the amount of protection if there are two people named?
Spend the extea £10K on an EPIC holiday. go on. you know you want to0
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