Selling our house. What to do with the cash?

[EmBeEmBe]

We're about to sell our house and move in to rented for a year or more until we can buy a suitable house in new location.
We will have £750k to put somewhere safe in the meantime. It scares me. What shall we do with it?
Many thanks

Many banks will have temporary exceptions (e.g. 12 months) to the 85k limit on FSCS protection for savings when the money comes from a house sale. Worth checking out what the policy says.

I'd probably consider fixed-term savings. You won't be able to get interest rates anywhere near inflation levels, but it will be better than no interest at all.

NS&I savings are also protected up to the maximum of (I think) £1m, but won't pay very much either. The premium bonds are a slightly better investment but are capped at £50k max.

I wouldn't go for stocks and shares with such a short investment timeframe.

High balance protection in a bank account, 6 months, sometimes longer so check with your bank. Then I would use NS&I as that is treasury backed, can have up to £2million there protected.

You are simply parking the money for now.

You can put £50k each into premium bonds. That's what I'm doing with some of the money from the sale of my late mum's house, until we need to spend it. Prizes are not guaranteed, but overall equivalent to 1.4%, and you might get more if you're lucky (or less, obviously). It seems as good an option as anything else.

I've also opened a Hargreaves Lansdown Active Savings account, which allows you to switch money beyween providers easily and distribute it across multiple £85k pots (the max its safe to hold with one provider if you havebit longer than 6 months). The rates on offer seem to compare well with what's on offer on the providers' own websites, and also compare well with the top saving rates on Money Savings Expert.