Short term savings
EmmsySquared
Posts: 8
Forumite
Hi all
We are planning on selling our house to move to Scotland. We don't want to buy right away when we get there as we want to get a solid feel for houses, prices and the areas. So we plan to rent for 6 months or so first.
My question is, where should I put the money from the sale of the house for this time?
We should end up with £145k of money once the mortgage has been paid off.
With thanks!
We are planning on selling our house to move to Scotland. We don't want to buy right away when we get there as we want to get a solid feel for houses, prices and the areas. So we plan to rent for 6 months or so first.
My question is, where should I put the money from the sale of the house for this time?
We should end up with £145k of money once the mortgage has been paid off.
With thanks!
0
Comments
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Assuming the 'we' signifies two adults, the simplest thing is probably to open a joint Tesco Internet Saver account, which pays 1.45% interest, or alternatively a pair of sole Marcus accounts at 1.5%.
http://www.moneysavingexpert.com/savings/savings-accounts-best-interest0 -
You can also look at these best buy savings tables.
https://www.thisismoney.co.uk/money/saving/index.html0 -
EmmsySquared wrote: »Hi all
We are planning on selling our house to move to Scotland. We don't want to buy right away when we get there
You would be wise to remember that when you agree to buy a house in Scotland you can't renege on the deal or you'll be dragged off to court.
In Scotland, unlike England, your word is your bond in the housing market.Free the dunston one next time too.0 -
Kidmugsy, that's not really true.
You can back out right up until the missives are signed but after that your knackered.0 -
Sorry for the delayed reply, but thanks for the advice!0
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This discussion has been closed.
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