Full Version: What's Best Thing To Do With 10k?
I got it sitting in a regular current account.. what could it be doing? Anything? What would you do with it?
1. if you need it quick - put it in icesave/icici/etc
2. if you need it less quick (2+y) and are higher rate tax payer - ns&i index linked
3. if you need it even less quick (5+y) drip feed about 1k a mo into your ISA
4. if you're a hedonist - buy a car / piano / girl / boy / bonbons
2. if you need it less quick (2+y) and are higher rate tax payer - ns&i index linked
3. if you need it even less quick (5+y) drip feed about 1k a mo into your ISA
4. if you're a hedonist - buy a car / piano / girl / boy / bonbons
Drip feed it into a cash ISA. 3K per tax year...the rest is up for debate, but ICESAVE are paying 6.2% on their savings.
Whack 7k into your isa, and the remaining 3k on a stock.
The number six dog 3rd race walthhamstow. His name is REMEMBER BILLY. I know the owner of this dog its a dead cert. 
Wine women and song
or if your preferences are diffrent
Wine men and song
or if your preferences are diffrent
Wine men and song
I would say now with the property market showing some negative signs and the stock market slightly volatile these days because of the hedge funds fiasco, just keep it safe in a saving account. You have many at over 6%. You could still go for some spread betting though.
use it as a deposit on a bedsit flat?
QUOTE(Malarkey @ Jul 28 2007, 04:04 PM) 
Wine women and song
I can't sing and I'm not a big wine drinker.
Ah well, sometimes life's choices are delightfully simple!
Other than that, do what bdon said.
QUOTE(moosetea @ Aug 1 2007, 12:29 PM)
use it as a deposit on a bedsit flat?
Totally agree.
Why not put it as a downpayment on the purchase of a flat and rent it out to the local authority. Guaranteed income plus voids for 5 years, usually a rolling contract.
£10k may not seem like a lot, but you will be surprised, there are 1000s of houses out there that are going for 80% less than their valuations for whatever reason.
Get a buy to let mortgage at say 75% LTV put down 5%, bridge the balance, once complete, re-mortgage to 100%.
Sorted.
PS As Edinburgh's prices rocket for yet another year, any properties in a 50km radius around the city are increasing by 18-24% per annum. Better than any savings policy.
My ex-council buy to let doubled in value in 4 years.
QUOTE(OFS Spain @ Aug 4 2007, 10:43 PM)
Totally agree.
Why not put it as a downpayment on the purchase of a flat and rent it out to the local authority. Guaranteed income plus voids for 5 years, usually a rolling contract.
£10k may not seem like a lot, but you will be surprised, there are 1000s of houses out there that are going for 80% less than their valuations for whatever reason.
Get a buy to let mortgage at say 75% LTV put down 5%, bridge the balance, once complete, re-mortgage to 100%.
Sorted.
PS As Edinburgh's prices rocket for yet another year, any properties in a 50km radius around the city are increasing by 18-24% per annum. Better than any savings policy.
My ex-council buy to let doubled in value in 4 years.
Why not put it as a downpayment on the purchase of a flat and rent it out to the local authority. Guaranteed income plus voids for 5 years, usually a rolling contract.
£10k may not seem like a lot, but you will be surprised, there are 1000s of houses out there that are going for 80% less than their valuations for whatever reason.
Get a buy to let mortgage at say 75% LTV put down 5%, bridge the balance, once complete, re-mortgage to 100%.
Sorted.
PS As Edinburgh's prices rocket for yet another year, any properties in a 50km radius around the city are increasing by 18-24% per annum. Better than any savings policy.
My ex-council buy to let doubled in value in 4 years.
Edinburgh's prices are far from rocketing.
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