Sold my house, need advice...

L

lucyliu26

Guest
I received the equity on my house today, I got almost €150k - I am going to invest this in BOI shares for the next 6 months until my new house is ready.
I have a loan with the credit Union for about €10k.
Just wondering if it would be advisable to clear this loan with the equity or to keep making my payments to this loan as usual??
 
Hi Lucy
6 mnths is relatively short time for investing in shares considering transacation costs, stamp duty and Bid/offer spreads.
If the markets slow up be prepared for a shortfall on your equity.
I would suggest clearing your loan of €10K.

Regards

[email protected]
 
Thanks Paraic,

For a period of 6 months is there any investment that you can suggest?
 
6 mths is a very short time, so i'd probably put it on deposit with Rabodirect @3.35% or one of the other online deposit accounts.
Really is your decision though and you have to way up the risk/return ratio.

Regards

[email protected]
 
Thanks Paraic,

I will take a look at RaboBank.

Thanks again for the advice!
 
You must log in or register to reply here.
Back
Top