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    • Binky54
    • By Binky54 11th Apr 18, 1:56 PM
    • 1Posts
    • 0Thanks
    Where to save sale of house for 6 months whilst new house built
    • #1
    • 11th Apr 18, 1:56 PM
    Where to save sale of house for 6 months whilst new house built 11th Apr 18 at 1:56 PM
    I'm just about to put my house on the market to purchase a new build that wont be ready until Spring 2019. I'm assuming that I will have sold mine by Autumn 2018 & rent until my house is ready. Where is the best place to put the monies made from the sale in a secure investment until I purchase the new property?
Page 1
    • eskbanker
    • By eskbanker 11th Apr 18, 2:10 PM
    • 7,820 Posts
    • 8,637 Thanks
    • #2
    • 11th Apr 18, 2:10 PM
    • #2
    • 11th Apr 18, 2:10 PM
    Obviously nobody knows exactly what the savings market will look like in the autumn so you'll need to do your detailed research then, but today you'd be looking at a traditional easy-access savings account of the type currently paying circa 1.25%.

    If you're likely to be saving for more than six months then you'd need to spread the money across multiple accounts if it's above the FSCS deposit protection limit of 85K, but their temporary high balances provision would protect you for up to six months on up to 1m.
    • PeacefulWaters
    • By PeacefulWaters 11th Apr 18, 2:12 PM
    • 8,318 Posts
    • 10,667 Thanks
    • #3
    • 11th Apr 18, 2:12 PM
    • #3
    • 11th Apr 18, 2:12 PM
    National Savings if you hold the money beyond six months.

    Link at the top of the page for less than six months.
    • AnotherJoe
    • By AnotherJoe 11th Apr 18, 6:26 PM
    • 10,112 Posts
    • 11,371 Thanks
    • #4
    • 11th Apr 18, 6:26 PM
    • #4
    • 11th Apr 18, 6:26 PM
    The other day someone pointed out a 1 or 2 year savings product witha decent rate of interest which did allow you to withdraw after giving 6 months notice and even then with the penalty applied it was better than any instant access accounts.
    So do a bit of research and then open one put the money in and give your 6 month notice a few days later.
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