Windfall !

bunny999

Under the bed would be the safest place. In hard times cash is king.

malik999

This answer is going to depend on the sort of person you are and your lifestyle.
A windfall sometimes = a nice holiday home for some people and their families i.e. you actually get some nice use out of your money, you only live once remember!. This answer/option is not for everyone of course.

stevetodd

Entertainer wrote: »

No they didn't, prices fell between 89-92, were steady between 93-95 and then began to rise at the start of 96.

OP put your money in savings accounts/bonds but make sure you don't have more than 50k in each definitely no more than 100k.

Hmm yeah on checking the indices thats what it states (although they did actually fall for longer in Battersea where I was buying) however that does not change my main point which was that the fall is much much steaper this time around and the bottom will be reached quicker.

stevetodd

malik999 wrote: »

This answer is going to depend on the sort of person you are and your lifestyle.
A windfall sometimes = a nice holiday home for some people and their families i.e. you actually get some nice use out of your money, you only live once remember!. This answer/option is not for everyone of course.

That's why I was saying property isn't for everyone, it can be hard work at times and I certainly don't want to be still in the market after I am 65 (some time away)

dunstonh

that does not change my main point which was that the fall is much much steaper this time around and the bottom will be reached quicker.

Or that the bubble was bigger this time round and has more scope to fall than before.

Personally, I dont think that is likely as it was nearly at exactly the same ratio of earnings to mortgage debt that the markets took the turn this time round as they did last time. So, the "bubble" wouldnt appear that much greater in relation to income as last time.

The problem this time round is that repossessions have barely started yet (nowehere near the peak of last time, despite the news just today trying to egg it on making it sound like big figures, when it isnt by historic standards for a recession). You also have a lot more highly levereged newbie buy to let landlords this time round and generally the overall debt is much higher than last time. Plus, of course, the banks arent keen on lending to anyone outside traditional criteria. I doubt we will see 125% neg equity mortgages this time round either given the bad press these sorts of mortgage have had. Despite them being very useful in restarting the recovery in the housing market last time.

Richard_Cocks

With a windfall that large it's worth consulting some professionals, not just to maximise hopeful returns, but also for tax planning purposes.