Not sure what do

bigadaj

xylophone wrote: »

As I said in my post 4 above....


Old but may be of interest if the OP chose the letting to council rather than to private tenant.

Maybe, likely that policies and conditions have changed in the last 24 years though.

Much has changed in that time,thatcher had only just gone and we had the delights of Blair still to come.

xylophone

Maybe, likely that policies and conditions have changed in the last 24 years though.

Much has changed in that time,thatcher had only just gone and we had the delights of Blair still to come.

I said "may be"...

But apart from that, judging by what the OP has said of current arrangements with his LA, not a great deal seems to have changed from the point of view of basic considerations on what a council deal might offer.

Pobby

Reading that article, it is very much the way things are run in my region.

bigadaj

xylophone wrote: »

I said "may be"...

But apart from that, judging by what the OP has said of current arrangements with his LA, not a great deal seems to have changed from the point of view of basic considerations on what a council deal might offer.

Possibly, my partner has enquired about her house in Nottingham and things are very different. They seem to offer an arms length agency type arrangement that is more expensive and less secure in terms of rental and damage repair etc.

Dyor and ensure everything is in writing.

atush

Do you have a pension? If not, as you are over exposed to property at the moment, I would start one.

The Stock market can be as risky or less risky as you want it to be.

Choose just one UK share or a few? Very risky. Choose funds, less risky. Choose an investment trust, that provides a decent income and has ncrased dividends for decades? Less risky again as the share value can rise and fall with t he market, but your income will remain stable and increase annually.

Property in general is risky, but if you have a good agreement with t he council as mentioned above, then you have eliminated a bit of the risk. But it is not tax efficient, so if you go this route- live on t he income and as much of your salary as needed. Then use your spare income to invest in a pension for one or better both of you.

Then you will diversify into some equities, and get tax relief.

bottleandahalf

atush wrote: »

Do you have a pension? If not, as you are over exposed to property at the moment, I would start one.

The Stock market can be as risky or less risky as you want it to be.

Choose just one UK share or a few? Very risky. Choose funds, less risky. Choose an investment trust, that provides a decent income and has ncrased dividends for decades? Less risky again as the share value can rise and fall with t he market, but your income will remain stable and increase annually.

Property in general is risky, but if you have a good agreement with t he council as mentioned above, then you have eliminated a bit of the risk. But it is not tax efficient, so if you go this route- live on t he income and as much of your salary as needed. Then use your spare income to invest in a pension for one or better both of you.

Then you will diversify into some equities, and get tax relief.

I am stuck between CTY, Bankers and VG FTSE income to do this. Do you think it makes any difference whether its an IT or not?

Voyager2002

bottleandahalf wrote: »

I am stuck between CTY, Bankers and VG FTSE income to do this. Do you think it makes any difference whether its an IT or not?

Yes, an IT is very different from some other equity investments.

Ensure that you understand any prospective investment before making a decision.

Voyager2002

Pobby wrote: »

I like the idea of renting, my wife doesn`t.

What is her reasoning?

Voyager2002

Pobby wrote: »

The joint house needs up dating and the rent from the council would be used, in part, for this.

How much do you expect to spend on updating your new home?

Interesting that you plan to finance this out of rental income from your old home, rather than use some of the liquid cash that you have available.

Pobby

The idea is that the income generated will go toward updating the new house. There for no need to with draw savings.