Another small step.....
 

Accepted an offer on our rental property yesterday - 6K below the asking price but we decided to go with the bird in the hand, so to speak. Its the first time I've sold a house so fingers crossed it'll all go smoothly. Subject to not getting hit by CGT it'll leave us the question of where/how to stash a chunky wodge of cash that will eventually go to some Calgary realtor.

One down two to go. Things definitely seem to be picking up so we might make it over this summer after all. If we don't another year of 30% house price inflation in Calgary could kill the dream and we might need to look elsewhere......

Good luck to all

M

Re: Another small step.....
 

Best of luck to you! We are just waiting to exchange on our house and then we will only have a few weeks till we are off :eek: Getting very real now!

J :)

Re: Another small step.....
 

Subject to not getting hit by CGT it'll leave us the question of where/how to stash a chunky wodge of cash that will eventually go to some Calgary realtor.


Good luck with the house sale. e. your chunky wodge of cash, if it's a short term place to deposit it before you move why not buy some Premium Bonds. Limit now is £30,000 each. Money is safe and readily accessible and you never know "it could be you" (as a rival profit making organisation claim). As I told someone else recently, I did this for a short time with some cash I had inherited, before I decided on a new car. Won £50. Not a big win but made me smile. Just a thought.

Re: Another small step.....
 

Only problem with Premium Bonds is that you have to own them for a month before they enter any draw, and it can take a while to get the money back - I recently cashed most of mine in, and got the money within about 5 days, but they do say allow a couple of weeks I think.

I'd recommend ING (in the UK) - they're one of the internet savings banks I've used and they've been great. They always offer competitive interest rates and are very quick when transferring funds.

Whether you want to invest the cash, buy premium bonds or a bit of both will depend on your tax situation in the UK: if you're a 40% tax payer then it may be a good idea to buy the max £30k of premium bonds and invest the rest - this is what I did and the wins off £30k's worth exceeded interest - tax, plus I had the satisfaction of knowing that was a little bit less tax I was lining Gordon's pockets with...! ;)