Money from house sale. Short term deposit advice req'd.
Discussion
Bit of advice needed in that hopefully in the near future our current house will be sold and the Mrs and I will have a half decent amount to purchase our next home.
We shall be staying in rented accomodation for a few months whilst we find our next home but we need to find a safe haven for our house sale proceeds.
Income is not really a priority but we will require ready ( almost immediate) access and it must be as safe as possible.
We already have a couple of building society accounts for our normal savings etc but this is the proceeds of a house sale so the sum involved and its importance to us means that we are distictly nervous about entrusting our complete financial future to any single financial institution.
What would you guys do ?
Cheers,
Tony
Unhappily I have already been told that an Aston ( or any car) does not qualify as an investment vehicle.
We shall be staying in rented accomodation for a few months whilst we find our next home but we need to find a safe haven for our house sale proceeds.
Income is not really a priority but we will require ready ( almost immediate) access and it must be as safe as possible.
We already have a couple of building society accounts for our normal savings etc but this is the proceeds of a house sale so the sum involved and its importance to us means that we are distictly nervous about entrusting our complete financial future to any single financial institution.
What would you guys do ?
Cheers,
Tony
Unhappily I have already been told that an Aston ( or any car) does not qualify as an investment vehicle.
Tony427 said:
Income is not really a priority but we will require ready ( almost immediate) access and it must be as safe as possible.
Depends on how much money we are talking about (not asking), if practical then spreading it about is more profitable.If that isn't practical due to a large amount and security is more important than income:
http://www.nsandi.com
I have been in a similar position for a few months in the past, I just stuck it in National Savings (as above recommnedation) - £30K each person max in premium bonds (so you gamble the interest) and the rest in bonds
..you may get a few hundred quid interest and of course the chance of winning something more meaningful on the premium bonds
..you may get a few hundred quid interest and of course the chance of winning something more meaningful on the premium bonds
We are in a similar situation at the moment. You can either spread it around up to £50k with each institution as said by someone else above, or put it in Northern Rock instant access as the protection is still I believe unlimited.
There's also the Investec High 5 account which gives a good rate (an average of the five highest rates on the market)and only require 3 months notice, which realistically is ok, as the time period between finding a property doing your due diligence, should be more than 3 months.
Hope this helps.
There's also the Investec High 5 account which gives a good rate (an average of the five highest rates on the market)and only require 3 months notice, which realistically is ok, as the time period between finding a property doing your due diligence, should be more than 3 months.
Hope this helps.
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