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savings & investments from house sale
anthonymartin
Posts: 15 Forumite
Will be receiving 650k from house sale in the next few weeks moving into rented.
Was going to put 650k into poor interest bearing current account then realised banks sit on money for three days whilst it being moved(no interst for me) unless you pay £20 for bacs payment.
So it is it more efficent to open three instant saving internet bank accounts with a pound now and then give buyers solictors (we r doing own conveyance) to TT funds into three acounts so that we start earning interst on completion day.
Will be looking for one instant savings account to provide £1500 a month for rent.
In six months will buy renovation property cash or mortgage.
have a £7.5 loss through my self assessment to use up can i put it againest the income from interest on the 650k?
i earn 30k my partner 17k so should i put funds in the lower tax payers sole name?
Look forward to your responese
Was going to put 650k into poor interest bearing current account then realised banks sit on money for three days whilst it being moved(no interst for me) unless you pay £20 for bacs payment.
So it is it more efficent to open three instant saving internet bank accounts with a pound now and then give buyers solictors (we r doing own conveyance) to TT funds into three acounts so that we start earning interst on completion day.
Will be looking for one instant savings account to provide £1500 a month for rent.
In six months will buy renovation property cash or mortgage.
have a £7.5 loss through my self assessment to use up can i put it againest the income from interest on the 650k?
i earn 30k my partner 17k so should i put funds in the lower tax payers sole name?
Look forward to your responese
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