Any Ideas On Short Term Investment With Equity From House While Waiting For Visa??
Sep 8th 2006, 8:13 pm
#1
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Joined: Jul 2006
Location: Perth,WA
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Any Ideas On Short Term Investment With Equity From House While Waiting For Visa??
We are fortunate enough to have sold the house and have circa £100K to put towards a house purchase when we get to Perth. We are currently in with parents...but we are still waiting on visa hoping for by End of Oct at the v.latest.
We are looking at heading out to Perth and will rent initally but are naturally concerned at the increasing housing market.
In an attempt to increase our equity, alot of friends/family have advised us to look into potential low risk investments to ensure that we also get a healthy growth on our equity to at least attempt to not lose too much ground on the perth housing market.
Any advice guys & gals..other than just a high interest bank account? Also would you take amount with you from the off and invest over there or leave as stirling for as long as you can???
cheers
BR
Sep 8th 2006, 8:34 pm
#2
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Joined: May 2006
Location: Lost in space...
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Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Premium Bonds...? Safe, interest free, max £30k each... Return averages ~ £125 or so a month... But always a chance it could be greater... Also the Aussie dollar seems to be having a hard time with sterling at the moment so perhaps not a bad idea to leave it in Sterling...?
We are fortunate enough to have sold the house and have circa £100K to put towards a house purchase when we get to Perth. We are currently in with parents...but we are still waiting on visa hoping for by End of Oct at the v.latest.
We are looking at heading out to Perth and will rent initally but are naturally concerned at the increasing housing market.
In an attempt to increase our equity, alot of friends/family have advised us to look into potential low risk investments to ensure that we also get a healthy growth on our equity to at least attempt to not lose too much ground on the perth housing market.
Any advice guys & gals..other than just a high interest bank account? Also would you take amount with you from the off and invest over there or leave as stirling for as long as you can???
cheers
BR
Originally Posted by Blueracer
We are fortunate enough to have sold the house and have circa £100K to put towards a house purchase when we get to Perth. We are currently in with parents...but we are still waiting on visa hoping for by End of Oct at the v.latest.
We are looking at heading out to Perth and will rent initally but are naturally concerned at the increasing housing market.
In an attempt to increase our equity, alot of friends/family have advised us to look into potential low risk investments to ensure that we also get a healthy growth on our equity to at least attempt to not lose too much ground on the perth housing market.
Any advice guys & gals..other than just a high interest bank account? Also would you take amount with you from the off and invest over there or leave as stirling for as long as you can???
cheers
BR
Sep 8th 2006, 8:56 pm
#3
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Location: Perth,WA
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Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Originally Posted by rodders39
Premium Bonds...? Safe, interest free, max £30k each... Return averages ~ £125 or so a month... But always a chance it could be greater... Also the Aussie dollar seems to be having a hard time with sterling at the moment so perhaps not a bad idea to leave it in Sterling...?
Sep 8th 2006, 8:58 pm
#4
Not long now..
Joined: Jul 2006
Posts: 25
Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Not qualified to give financial advice, DYOR etc etc
We sold ours last week. Planning to keep £ for now..until such time as rate moves in favour (which IMHO it will in next few (6-12) months). Instant access savings account will pay 5%+ (have a look at moneysavingexpert site - good for all sorts of things). Premium bonds tax free but lower interest unless you are lucky.
By oil shares - DNX, SIA, AEX, PMO etc etc if you want a little gamble....
We sold ours last week. Planning to keep £ for now..until such time as rate moves in favour (which IMHO it will in next few (6-12) months). Instant access savings account will pay 5%+ (have a look at moneysavingexpert site - good for all sorts of things). Premium bonds tax free but lower interest unless you are lucky.
By oil shares - DNX, SIA, AEX, PMO etc etc if you want a little gamble....
Sep 8th 2006, 9:23 pm
#5
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Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Originally Posted by robs12
Not qualified to give financial advice, DYOR etc etc
We sold ours last week. Planning to keep £ for now..until such time as rate moves in favour (which IMHO it will in next few (6-12) months). Instant access savings account will pay 5%+ (have a look at moneysavingexpert site - good for all sorts of things). Premium bonds tax free but lower interest unless you are lucky.
By oil shares - DNX, SIA, AEX, PMO etc etc if you want a little gamble....
We sold ours last week. Planning to keep £ for now..until such time as rate moves in favour (which IMHO it will in next few (6-12) months). Instant access savings account will pay 5%+ (have a look at moneysavingexpert site - good for all sorts of things). Premium bonds tax free but lower interest unless you are lucky.
By oil shares - DNX, SIA, AEX, PMO etc etc if you want a little gamble....
cheers
BR
Sep 8th 2006, 10:33 pm
#6
Retired
Joined: Apr 2004
Posts: 34,649
Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Originally Posted by Blueracer
In an attempt to increase our equity, alot of friends/family have advised us to look into potential low risk investments to ensure that we also get a healthy growth on our equity
Why not just put the money in the bank until ready to buy another house, if that's the plan.
Sep 8th 2006, 10:36 pm
#7
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Joined: Jan 2005
Location: HOME
Posts: 23,179
Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Originally Posted by JAJ
"Low risk" and "healthy growth" don't come together, especially not for short term investments.
Why not just put the money in the bank until ready to buy another house, if that's the plan.
Why not just put the money in the bank until ready to buy another house, if that's the plan.
Agree.
The OP should check the Motley Fool for the best savings rates currently on offer:
www.fool.co.uk
Sep 8th 2006, 10:59 pm
#8
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,397
Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
You are looking at a *very* short term investment by the looks of things: you'd be unwise to put the money anywhere but in an interest-bearing account. Premium bonds are fine when you have the maximum (statistically you get the average equivalent interest rate or near to it then) but taking into account the lag in being entered for the prizes and the same delay when cashing them, plus the fact that any prizes would be taxed by Oz if you held them after moving they wouldn't be a good choice, IMO.
Don't even think of the stock market - even if you made a few bob for a month or two the charges would probably negate them and the chances are that you wouldn't anyway!
I am not a financial advisor, though: I just peddle common sense!
Don't even think of the stock market - even if you made a few bob for a month or two the charges would probably negate them and the chances are that you wouldn't anyway!
I am not a financial advisor, though: I just peddle common sense!
Sep 9th 2006, 7:10 am
#9
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Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa?
Originally Posted by Wol
You are looking at a *very* short term investment by the looks of things: you'd be unwise to put the money anywhere but in an interest-bearing account. Premium bonds are fine when you have the maximum (statistically you get the average equivalent interest rate or near to it then) but taking into account the lag in being entered for the prizes and the same delay when cashing them, plus the fact that any prizes would be taxed by Oz if you held them after moving they wouldn't be a good choice, IMO.
Don't even think of the stock market - even if you made a few bob for a month or two the charges would probably negate them and the chances are that you wouldn't anyway!
I am not a financial advisor, though: I just peddle common sense!
Don't even think of the stock market - even if you made a few bob for a month or two the charges would probably negate them and the chances are that you wouldn't anyway!
I am not a financial advisor, though: I just peddle common sense!
BR
Sep 9th 2006, 10:45 am
#10
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Joined: Sep 2005
Location: Darwin, NT - Palmerston
Posts: 71
Re: Any Ideas On Short Term Investment With Equity From House While Waiting For Visa??
We have just put £180000 into the premium bonds in 6x£30000 so I hope you dont win 
because I want to 
. We are only planing on keeping the bonds until we find a property is Aus then have them transfered over but you can still have a chance of winning - a bit like doing the lottery but you get your money back at the end..
because I want to . We are only planing on keeping the bonds until we find a property is Aus then have them transfered over but you can still have a chance of winning - a bit like doing the lottery but you get your money back at the end..
