£250,000 curiosity

cashbackproblems

The right property in the right location is still a great long term investment, maybe use half to put into property and half into savings accounts.

ed123_2

...frozen orange juice & pork bellies.....

MarkFromCornwall

property.advert wrote: »

Where are you getting 5% ?

Coventry BS's CallSave 5 Yr Fixed Bond (4) pays 5% if you are prepared to put your money away for 5 years, although I think we'd all recommend the OP splits up the money.

Mark

mr_fishbulb

Odd_Job wrote: »

3) Split the money up into 10 deposits of £25,000 and get buy to let 75% mortgages on 10 £100,000 properties. By that logic, you'd have a million pounds worth of property, but would you be able to do that?

No. You would have £250,000 worth of equity tied up in property, and £750,000 worth of debt.

hugheskevi

Making a classic politician's reply...I wouldn't have started from this position

Presumably you would have at least some expectation of a £250,000 inheritance, rather than it being a truly unexpected occurance. Assuming that...

Build up SIPPs (from higher-rate tax income) and S+S ISAs (use full allowance each year) whilst retaining a nice large interest-only mortgage and maybe building up decent amounts of low-interest debt on credit cards which gets moved around when offers expire.

In the event that you don't inherit anything, the money from the S+S ISA will be used to repay the mortgage. In the event you get an inheritance, it repays the mortgage, and your investments are all nicely placed in tax-shelters.

In the event of an unexpectedly large inheritance, invest it in unwrapped investments and use your annual Captial Gains Tax Allowance.

In the event you inherit enough to pay off the mortgage and to take you above the Capital Gains Tax allowance, go and see an IFA, reading up about Venture Capital Trusts and such-like beforehand.

Happychappy

How about being a business partner with this fine honest individual from Nigeria :eek: he has an excellent money making scheme, you just need to send him some money, and he will send you millions in return, I received it yesterday, and I am sure it was only meant for me, although I do wonder why he wanted my name and address when he said it was for a claim I had made :cool:

From: Mr. Chika C. Mbonu
Presidency, Abuja-Nigeria
May 27, 2010

Attention:Sir/Madam,

Be informed that the central bank of Nigeria has cleared and approved a part payment of your pending contract/inheritance claim to you.

This is as a result of the Government step to sanitize the battered image of the country and also to show appreciation for the recognition of the new President of Nigeria Dr. GoodLuck Jonathan by world leaders including Barrack Obama of the United States of America and other world powers.

The total sum of US$2,750,000 has been approved for you. However the mode of payment is by Swift Payment ATM card, this is to discourage extortion by fraudulent individuals in the system that will be asking you to pay for various charges.

Kindly confirm the following as soon as possible to enable us expedite action and effect payment to you within the shortest possible time.

1. YOUR FULL NAMES:
2: ADDRESS:
3. TELEPHONE, MOBILE AND FAX NUMBERS:
4. COUNTRY:

Thank you for your understanding in this matter.

kind regards,

Mr. Chika C. Mbonu.