1 year investment - any advice?

Access

We are putting an extention on our house soon, but the builder wont be able to start until this time next year, but we already have funds put aside for the project in a normal deposit a/c.

Since he wont be looking for payment until after the job is done, we can place the funds in a one year investment.

I have looked at our bank... but our bank is only offering 3% return on 1 year fixed, as is the credit union (based on the credit unions last financial year).

Is there anywhere that I would get a higher return without serious risk of loss?

I do not wish to invest the money in shares for the year.

Thanks for any advice.

whizzbang

you can get 3.6% from Rabo on a zero notice account or you can get 4.25% from Bank of Scotland (Ireland) http://www.bankofscotland.ie/index.jsp?1nID=93&2nID=94&3nID=107&pID=107&nID=122

but I think you need to set up a regular saver account.

Access

funnily enough, i did see the BOS savers a/c but the max starting off investment is 10k and then only save a max of 750 per month.

Rabo is an option though...

any others?

Dublinstiofán

I'd invest in Sunny Beach and sell next summer after the Irish really start heading over there. Should get more back than investing it in a bank account for a year. A friend of mine bought there 2 months ago and their apartment isn't even built yet and they have increased in value by €10000 already. Certain amount of risk involved but lets face it your not going to lose on it.
If you want more details i can put you in touch with them for a chat.
Best of luck
Stiofán

Access

A neighbour has invested in that area but unfortunatley, its not my cup of tea. thanks for the info though!

whizzbang

Dublinstiof&#225 wrote: »

I'd invest in Sunny Beach and sell next summer after the Irish really start heading over there. Should get more back than investing it in a bank account for a year. A friend of mine bought there 2 months ago and their apartment isn't even built yet and they have increased in value by €10000 already. Certain amount of risk involved but lets face it your not going to lose on it.
If you want more details i can put you in touch with them for a chat.
Best of luck
Stiofán

I'm not sure buying in Sunny Beach falls within "without serious risk of loss"

The real issue with those places is how do you sell the property? I believe there is serious red tape involved in selling in these places. Also most estate agents there are too busy selling high margin new properties to the Irish rather than sellinging on a low margin second hand place!

Please correct me if you know of anyone who has successfully sold in Sunny Beach and made a killing

whizzbang

Access wrote:

any others?

Northern Rock does good rates too
http://www.northernrock-ireland.ie/index.asp