What to do with house sale money

I’m due to complete on my house say in a couple of weeks. I’m moving in to a property we already own so will have the deposit and any profit to put somewhere for around 12 months.

Any recommendations on accounts etc?

For first 6 month, whatever bank account pays highest interest. FSCS provides temporary high balance protection for up to 6 months (I’m assuming here the proceeds are less than £1 million).


After that you’ll need to split to multiple banks to benefit from FSCS protection (am assuming here the proceeds are more than £85,000).

Just a simple case of checking best buy tables, e.g. https://moneyfacts.co.uk/

Or for less hassle associated with spreading money across several banks (but with cost of earning less interest) could make use of a savings marketplace like HL Active Savings, Raisin, Octopus Cash or Monzo.

Lowest hassle approach would be to stick into NS&I who guarantee deposits up to £2million. But this would pay the least interest.


Excellent thanks for the advice! Will take a look!

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Any amount deposited in NS&I is 100% secure, as it’s effectively HM Treasury (if you need longer than six months, in a regular savings account).

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Pop it in my account, I’ll look after it for you :wink:


Please send your sort code and account number.


For short term saving like 12 months best place is some form of cash deposit account to earn you a fixed rate of interest.

Some really good suggestions here with 1.4% interest. Also depending on how much you are depositing have a look at some of the offers places do for larger deposits. You can get more if you are willing to lock the money away for periods of time, so really depends on how much access you need.

But yes, as mentioned previously, check wherever you put the money is FSCS protected and if you are over £85k spread it out amongst a few places.

I’d avoid anything that takes on a bit of risk such as stocks at the moment, market is just too volatile and thats’ aimed for longer term investing. So if you see some big headline returns to tempt you in just be wary of that. Especially this growing Microbond market that seems to be popping up everywhere.

Also if you have not yes used your isa allowance, do it, saves you a bit of a headache on filing your end of year interest certificate with HMRC.

I’d say premium bonds for that kind of period