Where to put proceeds from house sale?

[Coolhand]

So I've just sold my house and have a big chunk of cash. I'm renting at the moment and looking to buy another house, but it's likely that may take some time based on the market around here, so I'd like to maximise my return on the money I have. I presume I'll need to distribute so I don't have more than 50k in any one bank.

Any suggestions for how to distribute these funds that would give a decent return and still allow quick access to the funds in the event that I find a suitable house?

[cjanderson]

i would stick 30k in prem bonds, okay maybe no return but a chance of some wins!!

then the rest just in ordinary taxed savings, should be able to get 3% or so. ensure £5k is in a cash isa.

putting it anywhere else would mean taking risks (you may want to do that with say £5k in a stocks and share isa) or tying your money up for a while. 1 month notice accounts would be fine, you generally don't offer and complete that quickly!! so would know you need the cash in advance.

[Coolhand]

Thanks for the advice.