OK so if I give in and agree to move into rented accommodation rather than buy a lovely house what's the best thing to do with our equity?

[sparkleymummy]

We've sold our house unexpectedly quickly after it being on the market for a week. We hadn't even started to look at properties and are now in danger of panicking and buying something that isn't quite right. If I give in and agree to move into rented for a year until we see what the market is doing what is the best thing to do with our equity? Its about £300k.

High interest account/bond with 30 day notice period? Then plan on 35 days betw exchange & completion when u finally do buy.

We put our equity into an account with high interest and no penalties with Chelsea B/s (think it was called a Rainyday account). The interest on it monthly paid our rent.

Short term deposit(2 or 3 months say), you can fix the period and get paid interest at end then choose whether to reinvest.

Most of it in short term deposit (30-60 days), but don't forget to use your ISA allowance and a regular savings account (they usually have a tiny upper limit of only a few hundred a month, but can pay insane interest).

We're in a similar situation, and I've just opened a Bradford & Bingley e-saver account paying around 6.4% interest.

The regular savers are great if you can guarantee you're not withdrawing the money in less than 12 months. If you withdraw sooner, the interest rate normally seems to end up being about the same as instant access accounts.

I would put as much as I could into an ISA (tax free) and look at notice accounts with 30 days notice for the remainder

we have ours in nationwide e savings.Good interest rate and tehy are v low risk in terms of the whole northern rock thing.