House sale funds.

[gra001]

Between the sale of my property and the purchase of another home I plan a 6 month stay outside the UK so need to "store" the funds. I'm aware of the £85K FSA guarantee, just wondered if there is an alternative to spreading it around (eg lodging with a solicitor?).

[raptor600]

gra001 said:

Between the sale of my property and the purchase of another home I plan a 6 month stay outside the UK so need to "store" the funds. I'm aware of the £85K FSA guarantee, just wondered if there is an alternative to spreading it around (eg lodging with a solicitor?).

Why do you need an alternative? Just put it in a couple of banks.

If you have a joint account the limit doubles to 170k per institution.

[gra001]

raptor600 said:

Why do you need an alternative? Just put it in a couple of banks.

If you have a joint account the limit doubles to 170k per institution.

Linked institutions severely limit the number of options and already use several. Sale funds will be circa £1M, no joint account.

[skeeterm5]

Could you put it in to convertible government bonds or the like?

S

[anonymous-user]

For that amount of money I would seek some professional advice.