Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • richteacharlie
    • By richteacharlie 6th Mar 18, 7:04 PM
    • 4Posts
    • 0Thanks
    richteacharlie
    Short Terms Saving Advice
    • #1
    • 6th Mar 18, 7:04 PM
    Short Terms Saving Advice 6th Mar 18 at 7:04 PM
    Hi,
    I am looking for some advice on short term savings

    We are moving house at the end of the month and buying a new build, we will have almost £400,000 of positive equity once mortgage is repaid and our new build not ready for about 3-4 months and we don't want that sort of money sitting around in our current account.

    Any advise of an account for short terms savings that we can get access to? We will need £300,000 for the new house so the account will remain open after we complete

    Thanks
Page 1
    • Alexland
    • By Alexland 6th Mar 18, 7:45 PM
    • 2,387 Posts
    • 1,785 Thanks
    Alexland
    • #2
    • 6th Mar 18, 7:45 PM
    • #2
    • 6th Mar 18, 7:45 PM
    Assuming you are using the same solicitors for the sale and purchase then you probably don't want it sitting in their client account either. Probably easiest to stick it in NS&I.
    • richteacharlie
    • By richteacharlie 6th Mar 18, 7:55 PM
    • 4 Posts
    • 0 Thanks
    richteacharlie
    • #3
    • 6th Mar 18, 7:55 PM
    • #3
    • 6th Mar 18, 7:55 PM
    Yes we are using same solicitor but I donít feel I should leave it with them, why should they get the benefit unless of course they will pass on any interest

    Not having done anything like this before Iím unaware of how it all works
    • xylophone
    • By xylophone 6th Mar 18, 9:21 PM
    • 25,370 Posts
    • 14,966 Thanks
    xylophone
    • #4
    • 6th Mar 18, 9:21 PM
    • #4
    • 6th Mar 18, 9:21 PM
    https://www.nsandi.com/income-bonds might do.
    • dales1
    • By dales1 6th Mar 18, 9:56 PM
    • 45 Posts
    • 33 Thanks
    dales1
    • #5
    • 6th Mar 18, 9:56 PM
    • #5
    • 6th Mar 18, 9:56 PM
    ...........ie government-backed, 100% secure, no need to worry about bank failures.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,327Posts Today

5,922Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin