How to invest 50k other than buy property?

[FlatToTheMat]

Hello all,

I very rarely venture in this part of PH but wondered if anyone fancied sharing what they would do with 50k other than buy property.

My wife and I had saved to buy but due to unforeseen oversight we were declined by the banks and told to return in 5 years (long story short)

We have 0 debts and are renting. We live well within our means and can very comfortably save 1-2k per month going forward but we do have a lump sum resting in the savings account not doing anything.

We are cautious people so have no interest in a great deal of risk and the objective would be to as securely as possible, add to the capital in preparation of a future house purchase.

Ideas welcome and thanks in advance.

[FlatToTheMat]

Thanks bogie, I will look into vanguard.

We aren't looking at our pensions just yet (perhaps foolishly) as we are 30. As we are without property, we want to keep the money liquid for use in 5 or so years

[FlatToTheMat]

Thanks all for your time, didn't expect such a response.

Lots to look at with regards to bonds and ISAs it seems. Skim reading over a few pages on google so far and it seems straight forward enough, if not as 'available' to us here in Ireland.

The air cooled 911 ship has sailed I fear and besides, inner city street parking and an appreciating classic can't mix well!

[FlatToTheMat]

BoRED S2upid said:

Jon39 said:

I think OP states the money will be needed as deposit for first house purchase, in maybe 5 years time.

Having begun with a tiny stake in equities 30 years ago, and now ..... , I would usually recommend doing the same.
However, not in the case of the OPs circumstances, because it breaks one of my golden investment rules.
IE. If a portfolio needs to be liquidated to use the money for a transaction such as house purchase, there is always a chance that a stock market decline occurs at just the wrong time. Equity investment works best when there is absolutely no reason ever to sell.

Sensible advice for an S&S ISA it needs to be long term and money you can afford to loose. Therefore these help to buy Isas seem like the correct answer to the OP's question. Or premium bonds. How's your luck OP? You could hit it big or win £25!

Thanks again for the advice. Help tyou buy ISA is on my to research list for tomorrow.

Sadly, I don't have much luck and I have won so much as an argument in years so wouldn't hold my breath for €25!

[FlatToTheMat]

Bikesalot said:

Without knowing all the circumstances, have you tried all the banks to get a mortgage, have you tried using a broker and talking your circumstances through with them?

Depending on the size of property you want to buy that's a fairly chunky deposit.

Thanks for your reply. We went through a broker who tried all the banks with a letter of explanation etc

It was due to an unpaid and forgotten credit card that I had €600 on but was ultimately forgotten about for 2 years (we had emigrated)

50k was a 20% deposit, we are both on decent salarys too, my wife especially. We have been told to try again in 3-5 years. According to the broker we used, Irish banks are far more cautious than uk banks after the Celtic Tiger fiasco, and no one is willing to stick there heads above the parapet. Even with her father offering to stick a further 20k in a gaurentee type account attached to the mortgage for 2 years.

No one to blame but myself