If you had £180k...

[Conscript]

All on black.

 

[dcsarge]

Also check that the banks you use aren't linked and share liability under the FSCS limit. Unlikely to need it but I was surprised some institutions are not fully split across different banks/brands. MSE has a list it's savings accounts guides. Shame I don't need to worry about such things .

 

[Scam]

Random question- Is it possible to close and reope a markus account to get the 1.5% rate again after drops down after 12 month introductory rate ends?

You'll have to do better than that to get one over Goldman Sachs...

I'd just find some fixed term ISAs. You can get fairly ok rates if you lock it away for more than a year.

Buying a house for a year? Lol some of the advice on here is just

 

[[FnG]magnolia]

I would also be looking at options to retire early.

lol WUT?

 

[Efour]

All on black.

This is ridiculous advice.

All on red is "where it is at"

 

[Conscript]

This is ridiculous advice.

All on red is "where it is at"

Fite me irl

 

[Efour]

Fite me irl

My dad's bigger than your dad so let's have sum.

 

[Conscript]

My dad's bigger than your dad so let's have sum.

Crap, I wasn't prepared for escalation

 

[Malevolence]

All on black.

This is ridiculous advice.

All on red is "where it is at"

Ignore these jokers. Stick it all on green.

 

[Participant]

Op - depends if you have any high interest debt, e.g. what's your mortgage rate and how much can you pay off per year without penalty?

 

[DarrenM343]

For 1 year, just shove it in a couple of different savings accounts, or a fixed term bond.

1 year is far too short to have reasonable returns at low risk. investments work well for consumers when you are investing over 10 years say. Especially in the current climate, not only Brexit but a few factors might lead to some big shocks to the market within 12 months.

I have a similar amount sitting in some savings accounts as I don't want much risk. Pension is in a much higher risk diverse shares involvements since I can ride out a recession or 2.

^This.
And as someone else said, keep below the £85k protection limit and this means avoiding two banks that are the same (ie, HSBC & FirstDirect would be same bank I believe).

 

[azazl187]

Id pay it off my Mortgage. That would give me a huge return of around 700 quid a month.

 

[Housey]

Try and get a 992 GT3 RS on release day, sell day 2. Probably 50k there in 2 days.

 

[Psycho Sonny]

Will probably take at least 8-10 weeks before you get get it, then listing. Let's say 2 weeks before someone moves in.

That leaves you 9 months left. 9 x 500 = £4500.

That's like 2.5% profit with a LOT of work, not knowing even if that's enough to get a house for £180,000 since you have to pay for survey, fees and searches.

Personally if you don't mind a medium level of risk, put it into Vanguard, pick an Index, can see a 6% return for little to no work.

yeah but he doesn't need to sell it after a year he could use the income to pay for the gap in deposit. also £500 for a £180K house in rent? lmao. you are talking at least double that here. triple if you buy 3 flats with say small mortgages

 

[Raymond Lin]

yeah but he doesn't need to sell it after a year he could use the income to pay for the gap in deposit. also £500 for a £180K house in rent? lmao. you are talking at least double that here. triple if you buy 3 flats with say small mortgages

You have totally ignored

1 - he wants to release the funds after 12 months or so which means your first point about "doesn't need to sell it after a year" is totally irrelevant. Not to mention latest housing report states that the housing market has totally flatlined, and gone down by a fraction.

2 - If rent is £1000 a month where you are, then how much is this place you are buying?! Surely can't be £180k incl fees? Remember if you are borrowing money then you are going to pay a mortgage, then a part of this "£1000" rent will go to the bank, say half of that…so you are not getting every penny of rent in your pocket, meaning you are not taking £1000 in rent in profit, making your 2nd point totally pointless.

3 - if you are thinking about spending 3x £180k in a place + "small mortgage" then you are still paying bank back, meaning you are not making everything in profit.


Ergo, your post made no sense.

 

[Dis86]

@Raymond Lin I honestly wouldn't bother arguing.

@Marvt74 balls, I did indeed!

 

[Psycho Sonny]

You have totally ignored

1 - he wants to release the funds after 12 months or so which means your first point about "doesn't need to sell it after a year" is totally irrelevant.
2 - If rent is £1000 a month where you are, then how much is this place you are buying?! Surely can't be £180k incl fees? Remember if you are borrowing money then you are going to pay a mortgage, then a part of this "£1000" rent will go to the bank, say half of that…so you are not getting every penny of rent in your pocket, meaning you are not taking £1000 in rent in profit, making your 2nd point totally pointless.
3 - if you are thinking about spending 3x £180k in a place + "small mortgage" then you are still paying bank back, meaning you are not making everything in profit.

Ergo, your post made no sense.

1. He doesn't need to release it if he can take the income and security and use that to put against a mortgage / home.

2. On a £180K house outright here you are talking around £800 a month spend a bit more like £220K then £1100 against a £40K mortgage which would be buttons. So £900 profit.

3. If he gets 3 flats at £80K each he will get £600 a month each. so for his £60k mortgage he will clear £1500 a month profit

 

[Raymond Lin]

@Raymond Lin I honestly wouldn't bother arguing.

@Marvt74 balls, I did indeed!

Don't worry, I won't, anyway, Vanguard.

I know it is more risky but…case in point.

 

[Raymond Lin]

1. He doesn't need to release it if he can take the income and security and use that to put against a mortgage / home.

2. On a £180K house outright here you are talking around £800 a month spend a bit more like £220K then £1100 against a £40K mortgage which would be buttons. So £900 profit.

3. If he gets 3 flats at £80K each he will get £600 a month each. so for his £60k mortgage he will clear £1500 a month profit

You still don't get it and totalling ignoring a lot of things and assumptions a lot of things from fees and lots of fees, BTL tax, searches, solicitors and most of all, assumptions you are going to get it rented out on day 1.

 

[dowie]

If you found yourself with £180K and didnt need it for 12-18 months where would you put it/what would you do with it to create the biggest return either in that period or ongoing.

What is the context here? You don't need it for 12-18 months but do you need all of it after that time period?

Seeking a high return usually involves taking on some risk, if you need all of this money to use it for some purpose in 12-18 months then look at various savings offerings from banks, NS&I etc.. your goal is to protect it not put it at risk in order to seek a high return.