How should I invest £30k?

TNGL

TNGL

TNGL

Soldato
Joined
2 Jul 2010
Posts
3,098
I've come into some money recently and it's just been sat there whilst I decide what to do with it. I'm 21, graduated this year, small student loan debt of around £4k, salary is alright (£42k rising to £50k next year, before tax that is) and I'm not planning to start up a business venture anytime soon.

Things I've considered which I wouldn't mind advice on:
  • Trying to get a mortgage to buy a house to then rent... Can I actually do this with a £30k deposit? Or would it be worth saving a bit of my salary to get a bigger deposit together? Would I realistically even be able to buy something decent enough to rent with my salary and deposit?
  • Just invest it in a few ETFs; I was considering putting around 35% in a tech ETF, 50% in a general index tracker fund and keep 15% in a basic savings account.
  • Just put it all in a fund suitable for amounts like this and just leave it there to grow.
Thoughts?
 
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21? Buy a fast car and blow the rest on women / men (or both depending on your taste).

Trumps going to start a nuclear war soon so you may as well enjoy it :)

I'm sure someone will be along with a sensible opinion soon
 
Buy a German car with just the sport trim, specifically don't get an actual fast engined one and then race people off the lights on the way to work only to realise ford st's are quicker.
 
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With 30k in your back pocket and a salary like that you should be able to get a decent mortgage.
 
Scotteh said:
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Interesting! Thanks for that.

HoneyBadger said:
Assuming no debt!
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Only debt is a £4k government student loan.

TriedandTested said:
Some modesty!
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Why? I've come for advice, how can one provide any meaningful advice without some sort of context?

HoneyBadger said:
Why don't you ring your bank and ask about the mortgage? (Or any other lender of your choosing)
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tom_e said:
With 30k in your back pocket and a salary like that you should be able to get a decent mortgage.
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I'll look around and give anyone who appears suitable a call. Will this get me the best ROI on my money though? Might I be better off considering some other investments?
 
42k fresh from uni with no more than a bachelors degree and a guaranteed 20% raise next year - what job is that and why aren't we all doing it?
 
Dis86 said:
42k fresh from uni with no more than a bachelors degree and a guaranteed 20% raise next year - what job is that and why aren't we all doing it?
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It's not unusual for a data scientist position which I'm sure I seen OP post about in another thread.
 
You'll generally be able to mortgage 4 up to 5 times your salary (ie 160 to 200k) plus your 30k deposit this means a 190 k to 230k house price (rough maximum.. Obviously you can buy less).

That's a good salary straight out of uni (I'm quite jealous!!). What industry is that in?

Edit : this is for a live in mortgage, I believe you get loaned less on a BTL
 
Are you living with your parents? I'd save hard for a year and start searching for a house of your own. You should be able to get a £200k mortgage easily then and you will have a nice deposit and a little bit of money left over for stamp duty, legal fees and to buy yourself something to sit on and sleep in. I.e. I wouldn't rush out and buy the first place you see that you can afford.
 
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