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Basically , I got divorced (hurahhhhh!!!!) , and have a payout of £30,000 cash , and an endowment , surrender value of roughly £30,000 . The endowment has about 18 months to run , so could be worht a bob or two more .

I also have an endowment in my own name , worth around £5-6,000 , it matures in 15 months time .

I could have , give or take , £65-70,000 in cash .

Is it worth renting for a year or so ,or buying somewhere with a relatively small mortgage ?

How low will this crash go ?

just wanting opinions , my head is saying "RENT" , but would like to buy .

If I rent ,where shall I put the money ? (be polite please LOL )

I am one confused bear at the moment !!!

Any advice , gratefully recieved

Thanks guys and gals

Eastleighfan

PS

Just realised that this might be on the wrong thread , MODS , please accept apologies, and feel free to move it

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Basically , I got divorced (hurahhhhh!!!!) , and have a payout of £30,000 cash , and an endowment , surrender value of roughly £30,000 . The endowment has about 18 months to run , so could be worht a bob or two more .

I also have an endowment in my own name , worth around £5-6,000 , it matures in 15 months time .

I could have , give or take , £65-70,000 in cash .

Is it worth renting for a year or so ,or buying somewhere with a relatively small mortgage ?

How low will this crash go ?

just wanting opinions , my head is saying "RENT" , but would like to buy .

If I rent ,where shall I put the money ? (be polite please LOL )

I am one confused bear at the moment !!!

Any advice , gratefully recieved

Thanks guys and gals

Eastleighfan

PS

Just realised that this might be on the wrong thread , MODS , please accept apologies, and feel free to move it

Rent...we are just beginning to slip down the side of the roller coaster's biggest hill. You are in an excellent position, but will be in an even better position (probably) in a few years time...just make sure you don't put all of your money in one bank...

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Guest X-QUORK

You would have to be a mentalist to buy at the moment...keep your powder dry for now.

Stick the cash in two or three high yield savings accounts...National Savings aren't too bad, or Northern Rock.

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Not sure if anyone will commit to giving financial advice but I recommend taking a deep breath before you do anything. Coming into a large lump of cash tends to warp perspectives. Heart can rule head, etc. etc.

Just sit down and try to make a decision about what to do calmly. Hard to do with cash in the bank I know.:huh:

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There was an item about cashing in endowments only last week on Working Lunch - there were a few things, such as a bonus on it coming to term, that I was not aware of. I think they advised a viewer to ring up the endowment company and ask what the full term amount would be, incl bonus, and what the figure would be now if cashed in. They also said to ring up one of those endowment buying firms and get a figure from them also.

I can't remember the details - the above might be wrong - but I guess they have the info up on the BBC website.

IMPO we are on verge of the biggest housing crash that this country has ever seen and which they probably will be teaching kids about in history classes a 100 years from now - go figure.

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You would have to be a mentalist to buy at the moment...keep your powder dry for now.

Stick the cash in two or three high yield savings accounts...National Savings aren't too bad, or Northern Rock.

I think I'd pretty much go with that (wouldn't go with NR though), adding the important bit, which is...

Pay off any lil' short term debts you've got. Keep at least some of it in a handy instant access form, but basically forget you've got it, let it build up a lil' interest, rent, and see where the housing market goes.

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just wanting opinions , my head is saying "RENT" , but would like to buy .

RENT !!!

Find the cheapest place that will suffice & try to get a 12 month initial term so that you know where you stand for a year, you'll not want to buy in the next 12 months, no way jose.

You're in a good position so make the most of it.

K.

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Rent! Buying now would be madness.

Not sure about your money though. With all that is going on in the econmony it would be wise to speak to a professional about how best to invest it while you watch the crash happen.

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With all that is going on in the econmony it would be wise to speak to a professional about how best to invest it while you watch the crash happen.

Hmmm, didn't financial professionals get us into the fine mess we're entering right now?

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Basically , I got divorced (hurahhhhh!!!!) , and have a payout of £30,000 cash , and an endowment , surrender value of roughly £30,000 . The endowment has about 18 months to run , so could be worht a bob or two more .

I also have an endowment in my own name , worth around £5-6,000 , it matures in 15 months time .

I could have , give or take , £65-70,000 in cash .

Is it worth renting for a year or so ,or buying somewhere with a relatively small mortgage ?

How low will this crash go ?

just wanting opinions , my head is saying "RENT" , but would like to buy .

If I rent ,where shall I put the money ? (be polite please LOL )

I am one confused bear at the moment !!!

Any advice , gratefully recieved

Thanks guys and gals

Eastleighfan

PS

Just realised that this might be on the wrong thread , MODS , please accept apologies, and feel free to move it

Tough luck having an endowment about to mature I reckon they will be worth a whole lot less in 24 months than even now... depending on what type you have... also tough luck on all those nearing retirment who have saved for ages and aren't in a guaranteed final salary scheme........ as for buy or rent..... rent would certainly be a better decision financially but then again if you see a house you like and can drive a hrad bargain and can happilly afford the payments then buy .... but do mkae sure you drive a really hard bargain... I bought at christmas (completed feb) got a pretty good deal, knew what I was getting into and don't regret it one bit.... apart form anything with wife and kids etc continuing to rent felt like leaving my life on hold for three or four years... and in the end buying has worked out cheaper than renting.

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Basically , I got divorced (hurahhhhh!!!!) , and have a payout of £30,000 cash , and an endowment , surrender value of roughly £30,000 . The endowment has about 18 months to run , so could be worht a bob or two more .

I also have an endowment in my own name , worth around £5-6,000 , it matures in 15 months time .

I could have , give or take , £65-70,000 in cash .

Is it worth renting for a year or so ,or buying somewhere with a relatively small mortgage ?

How low will this crash go ?

just wanting opinions , my head is saying "RENT" , but would like to buy .

If I rent ,where shall I put the money ? (be polite please LOL )

I am one confused bear at the moment !!!

Any advice , gratefully recieved

Thanks guys and gals

Eastleighfan

PS

Just realised that this might be on the wrong thread , MODS , please accept apologies, and feel free to move it

Wait until average house prices are 3 times average earnings and then buy...

UK_HousePrices_v_0Av_Earnings.jpg

Edited by Extradry Martini

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If ever a post illustrated the reality of the British housing market's dependency on easy credit it's this one. We're teetering on the brink of a massive collapse in house prices, and the media is screaming doom and gloom every night. But still, faced with receiving a sudden chunk of cash, the average person is simply gagging to buy a house!

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Basically , I got divorced (hurahhhhh!!!!) , and have a payout of £30,000 cash , and an endowment , surrender value of roughly £30,000 . The endowment has about 18 months to run , so could be worht a bob or two more .

I also have an endowment in my own name , worth around £5-6,000 , it matures in 15 months time .

I could have , give or take , £65-70,000 in cash .

Is it worth renting for a year or so ,or buying somewhere with a relatively small mortgage ?

How low will this crash go ?

just wanting opinions , my head is saying "RENT" , but would like to buy .

If I rent ,where shall I put the money ? (be polite please LOL )

I am one confused bear at the moment !!!

Any advice , gratefully recieved

Thanks guys and gals

Eastleighfan

PS

Just realised that this might be on the wrong thread , MODS , please accept apologies, and feel free to move it

You could commit financial suicide and let Kirsty and Phil find you a property on Location, Location, Location but you will more likely add to the statistics of Reposession, Reposession, Reposession.

or you can sit back and watch the biggest CRASH in the UK since the Norman Conquest :lol::lol:

Edited by joey

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Think where you'd like to be financially in 18 months - 2 years, and aim for that. Rent in the meantime, and reassess your position once the Tsunami is over. Have a look at a property you would have bought, and track its price every month. This will show you how much you haven't lost and give a bit of a feel good factor.

RENT

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Tough luck having an endowment about to mature I reckon they will be worth a whole lot less in 24 months than even now... depending on what type you have...

Agree , if it's unit linked it's probaly worth around 25% less than a year ago , if it's 'with profits' the terminal or final bonus may not be added or severly reduced at maturity .

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hang on there silver surfer.you don't know what his life is like at all.from what i remember eastleighfan is livign ni a one bedder and payign through the nose for it.depending on the pad,I'd be looking to buy if I hated living there.

Blimey , reaper . You got a hell of a memory ! You are right , I am living in a grotty one bedder , with an amature (xcuse spelling) landlord ,who , really couldn't give a hoot as long as he gets his rent .

I agree with "Silver surfers" comments ,to a degree ,but the problem with private renting ,is that, usually, you have no security of tenure , and can be evicted at any time after the tenancy expires .

I will probably rent for a year or two ,and try to invest my "windfall" .

my g/f and I saw a nice victorian 2 bed terrace this morning , for £650 PCM . The agent seemed a decent chap ( not smarmy like some can be ) He wasn't full of the "you need to be quick ,I got a long list of people to see this " , sort of nonsense . And apparently ,it's a professional landlord who is happy to rent out long term .

Thanks for all the advice , fellow HPC'ers , certainly gives me plenty to think about at work tonight !

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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