How would you invest 500k?

pressuredrop_2

I just don't understand why you would let a credit card company dictate your life, that's all.

getridofmydebt

The situation is very difficult being away from the wife and kids for long periods of time. This is a way of us all being able to be together, have no debt and the proffit from the sale of our UK home generating some interest.With just the one home to run and no credit card debt we would be able to manage.
It maybe all fine and well having a large chunk of equity in our house but we cannot access it unless we sell. We are just keeping our heads above water and have to sacrifice spending time together as a family. Another option is to return to the UK and give up my job.
It took me a long time to come to the decission to sell the house and i was just looking for advice on how i could best invest the capital to give me a good return.
Try and put yourselves in my shoes. I am spending 12 week peiods away from the family. I am on my own in a foreign country and we have no spare income what so ever in fact its a real struggle to provide for them,so you have to take into account us being appart as well as the debt.

princeofpounds

I have not asked my bank. I discussed two years ago with my mortgage provider about a further advance and they would not entertain me as i would be living outside the UK.

You might want to, talk to someone like HSBC who are more used to dealing with international situations. A lot of high street banks are quite parochial with their standard service but plenty of them have a more sophisticated service in the background. I think Citi are also used to international banking as they are a huge operation worldwide, just small in the UK. Best to see a manager rather than a call centre though!

baldbloke_2

Thank you. You have now explained that this is not just a financial concern but also -and most importantly - a matter concerning how you can live happily as a family while you continue in your job. You have a difficult decision to make.

You will find it difficult to 'invest' such a large sum safely if you wish to preserve the capital for a future - but not too far off - house purchase back in the UK.
A sensible range of mostly Fixed-Rate funds are probably your best bet but be prepared for losses as well as possible gains. You need independent fee based advice when the time comes on this and on both your tax position and your ability to hold investments particularly since you will have no UK residence at all by then.

Be prepared for complications when you and your family eventually return to the UK - your status for free health care in particular may be compromised.

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Arthurian

Could you sell your house, buy 2 UK properties at £199,000 each and let them out using a management company?

Trix2

Buy a property in Canterbury. We have a 50 mins commute time from the West station into London now - and it is becoming (but is not yet) really popular. You could buy a terrific 4-bed house for around 400K here, and we have grammar schools so no school fees if you come back. It is also a lovely place to live, right next to countryside, a very small city (you can walk from end to end in 15 mins), and a good place to bring up kids. If you want to go over to France - the ferry terminal is 25 minutes away, 35 mins to The Channel Tunnel and Eurostar runs from Ashford. I've no idea if any of this helps, but it is a much overlooked place, and sounds as if it might suit you. PS - I am not an estate agent - just a satisfied resident of the last 30 years.

getridofmydebt

Thanks to everyone who has replied to my question. It Seems that the best idea would be to invest some of the money back into a UK property so we still have a foot on the ladder in the UK.
Would still like to know if 5% would be achievable per annum are there any products out there offering this sort of figure or maybe split the funds between several products to give me 5% + per annum.

alanq

Depends what you meant when you said you required access. If you want to draw down your funds over the period then 5% will not be achieved. If you meant that you wanted to have access to your money in an emergency then perhaps the following. Coventry Building Society 5% for around 5 years for up to £250,000. Access with 180days loss of interest. Monthly interest possible. Not that I would advise depositing more than £50,000 with any institution.

gmgmgm

If working abroad gives you only 40K net (with presumably a much better tax regime than the UK), wouldn't it just be easier to work/live in the UK?