House sold ! What shall I do with my equity tho ?
Oct 27th 2003, 3:54 pm
#1
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Thread Starter
Joined: Aug 2003
Location: Wiltshire
Posts: 45
House sold ! What shall I do with my equity tho ?
Well, It hasn't actually COMPLETED yet, but I've had a great offer that I've accepted, theres no chain, the buyer is v v keen to get in ASAP, and the solicitors are talking.... fingers crossed huh !
My question now is what to do with the equity ? I have a additional flat which I can pay off the mortgage on by slapping my house sale equity across, but, what with the current drop in rental income that is affecting the area I live in, a part of me wants to just sell up everything, and 'go liquid' and then plop it all in either a UK or Oz high interest savings account, stock etc..
Theres no way I'm buying in Sydney, too expensive for my liking at the mo.
so, do I;
a) pay off mortgage on flat, rent it out, then enjoy spending the rental income in Oz.
b) liquidize all my assets, slap cash into high interest accounts, get an IFA to manage a portfolio (STILL BEING RUN IN THE UK THO) etc.. etc.. then POUNCE when Sydney property is sensible again.
c) do the same as above, but run the investments from Oz, I notice that interest rates seem to be better in Oz, I guess tax is worse tho huh ? oh yeah, and the exchange rate seems a bit crap at the mo.
d) something else all together....
Any help appreciated !!
Rob
My question now is what to do with the equity ? I have a additional flat which I can pay off the mortgage on by slapping my house sale equity across, but, what with the current drop in rental income that is affecting the area I live in, a part of me wants to just sell up everything, and 'go liquid' and then plop it all in either a UK or Oz high interest savings account, stock etc..
Theres no way I'm buying in Sydney, too expensive for my liking at the mo.
so, do I;
a) pay off mortgage on flat, rent it out, then enjoy spending the rental income in Oz.
b) liquidize all my assets, slap cash into high interest accounts, get an IFA to manage a portfolio (STILL BEING RUN IN THE UK THO) etc.. etc.. then POUNCE when Sydney property is sensible again.
c) do the same as above, but run the investments from Oz, I notice that interest rates seem to be better in Oz, I guess tax is worse tho huh ? oh yeah, and the exchange rate seems a bit crap at the mo.
d) something else all together....
Any help appreciated !!
Rob
Oct 27th 2003, 3:59 pm
#2
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Joined: May 2003
Location: GC
Posts: 3,353
If I was you I would contact Alan Collett 
You may be liable to pay tax in Oz on any rental income.
You may be liable to pay tax in Oz on any rental income.
Oct 27th 2003, 5:52 pm
#3
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Joined: Aug 2003
Location: in adelaide and loving it
Posts: 1,086
Re: House sold ! What shall I do with my equity tho ?
My question now is what to do with the equity ?
donations greatly recieved
arlene
donations greatly recieved
arlene
Oct 27th 2003, 6:13 pm
#4
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Joined: Mar 2003
Location: Going Home
Posts: 1,215
If you can service mortgage on flat with rental and have some left over I would keep flat and have cash available. Two reasons, one you keep a footing on UK market, rental will pay your mortgage, and the extra is x 2.4 (or whatever) second it keeps your cash free in case you decide to buy in Oz.
Depends how big your mortgage is and how much spare wonga you have. Could be worth reducing your mortgage and getting a good deal maybe fixed rate.
We sold up bought a rental property have an income from that put rest in UK high interest account and moved a limited amount to Oz for us to live on. The plan being !! if we liked it here and found we could make it work we had money avialable for a deposit, if it does not work out we go home still have a place to live and re-think our options.
Guess its all down to individual choice and how much cash you have to play with, we have knowhere near what some are quoting on this forum so chose to minimise risk.
Eggs and baskets and all that mlarky.
Depends how big your mortgage is and how much spare wonga you have. Could be worth reducing your mortgage and getting a good deal maybe fixed rate.
We sold up bought a rental property have an income from that put rest in UK high interest account and moved a limited amount to Oz for us to live on. The plan being !! if we liked it here and found we could make it work we had money avialable for a deposit, if it does not work out we go home still have a place to live and re-think our options.
Guess its all down to individual choice and how much cash you have to play with, we have knowhere near what some are quoting on this forum so chose to minimise risk.
Eggs and baskets and all that mlarky.
Oct 27th 2003, 7:14 pm
#5
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Joined: Mar 2002
Posts: 498
Re: House sold ! What shall I do with my equity tho ?
I'd go for option d)
Originally posted by sydneybound
Well, It hasn't actually COMPLETED yet, but I've had a great offer that I've accepted, theres no chain, the buyer is v v keen to get in ASAP, and the solicitors are talking.... fingers crossed huh !
My question now is what to do with the equity ? I have a additional flat which I can pay off the mortgage on by slapping my house sale equity across, but, what with the current drop in rental income that is affecting the area I live in, a part of me wants to just sell up everything, and 'go liquid' and then plop it all in either a UK or Oz high interest savings account, stock etc..
Theres no way I'm buying in Sydney, too expensive for my liking at the mo.
so, do I;
a) pay off mortgage on flat, rent it out, then enjoy spending the rental income in Oz.
b) liquidize all my assets, slap cash into high interest accounts, get an IFA to manage a portfolio (STILL BEING RUN IN THE UK THO) etc.. etc.. then POUNCE when Sydney property is sensible again.
c) do the same as above, but run the investments from Oz, I notice that interest rates seem to be better in Oz, I guess tax is worse tho huh ? oh yeah, and the exchange rate seems a bit crap at the mo.
d) something else all together....
Any help appreciated !!
Rob
Well, It hasn't actually COMPLETED yet, but I've had a great offer that I've accepted, theres no chain, the buyer is v v keen to get in ASAP, and the solicitors are talking.... fingers crossed huh !
My question now is what to do with the equity ? I have a additional flat which I can pay off the mortgage on by slapping my house sale equity across, but, what with the current drop in rental income that is affecting the area I live in, a part of me wants to just sell up everything, and 'go liquid' and then plop it all in either a UK or Oz high interest savings account, stock etc..
Theres no way I'm buying in Sydney, too expensive for my liking at the mo.
so, do I;
a) pay off mortgage on flat, rent it out, then enjoy spending the rental income in Oz.
b) liquidize all my assets, slap cash into high interest accounts, get an IFA to manage a portfolio (STILL BEING RUN IN THE UK THO) etc.. etc.. then POUNCE when Sydney property is sensible again.
c) do the same as above, but run the investments from Oz, I notice that interest rates seem to be better in Oz, I guess tax is worse tho huh ? oh yeah, and the exchange rate seems a bit crap at the mo.
d) something else all together....
Any help appreciated !!
Rob
Nov 2nd 2003, 2:15 am
#6
Forum Regular
Joined: Jul 2003
Posts: 190
Re: House sold ! What shall I do with my equity tho ?
Give it to me....It appears that you are very comfortable. I COULD USE extra cash.....Anyway, jokes aside. Investing is always a great idea!!
