Best short term investment options for lump sum

[Big Blue Plymouth]

Not sure this is the right forum for this post but I can't be done with posting in General at the moment...

Just sold my house & the proceeds are in my current account. What's the best thing to do with this cash until my next house purchase which could be any time from 2 - 6 months from now?

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?

[eek]

Not sure this is the right forum for this post but I can't be done with posting in General at the moment...

Just sold my house & the proceeds are in my current account. What's the best thing to do with this cash until my next house purchase which could be any time from 2 - 6 months from now?

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?

Probably not such a short term. You also don't want more than £75,000 per a banking licence...

[chopper]

I have a Barclays every day savers account & I've just seen they are reducing the rate from 0.25% to 0.05% on December 1 eek:

Is that the best damage limitation available in the current climate?

Aldermore are doing 0.75% on Easy Access accounts - so this seems a decent suggestion for at least £75k of your money.

[Lance]

https://lmgtfy.com/?q=best+savings+i...rm+easy+access

[dingdong]

You don't need to worry about the 75k limit - you get 6 months protection under FSCS for up to a million for temporary high balances after selling your property

[northernladuk]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

[SlipTheJab]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

+1, OP do you want to buy some magic beans in exchange for that cash cow

[Big Blue Plymouth]

With your luck I'd just leave it where it is. A couple of months at sub 1% isn't going to make much difference compared the hassle of not having it on point when you need it.

Dunno what your credit score is but opening new bank accounts and moving money around ahead of a new mortgage application may not work in your favour in some cases as well.

I hadn't thought about that. Thanks for pointing this out.

As for my luck - just got an email from Barclays telling me I'm getting £4k PPI refund.

Couldn't have come at a better time

[northernladuk]

Cool story bro.

[kaiser78]

Max out your cash ISA allowance - £~15k each for you and spouse. Coventry BS offer 1 and a bit % for their easy access ISA. Put the rest in the garden shed.