Where to get good investment advice

lofty wiseman

Hi ,
Know next to nothing about banking and less about investing (as does everyone I know) , my bank are also
Completely useless when looking for financial advice (Barclays) .. I live and work in England I've €24,000 savings , wanted
to try and get a mortgage back home but that's impossible .. So it's just sitting in the credit union , what with Brexit and other countries looking to leave the euro doesn't give me a lot of confidence and the pound is all over the place as well .. I'm just wondering where I can get clear simple advice on what to do with it
Cheers

Sabre Man

When do you think you will need the money?

lofty wiseman

No clue man , I suppose when I finally go back to Ireland (which at the soonest would probably be a year and a half away) and try to get on the property ladder but I'm single so would then have to find a decent Mrs to have any hop of that so that's gonna take more time on to that ..
The money's solely to try and get a mortgage down the line

Mehaffey1

After Hours forum on here

lofty wiseman

lofty wiseman wrote: »

No clue man , I suppose when I finally go back to Ireland (which at the soonest would probably be a year and a half away) and try to get on the property ladder but I'm single so would then have to find a decent Mrs to have any hop of that so that's gonna take more time on to that ..
The money's solely to try and get a mortgage down the line

I appreciate your honesty.
Thousands of couples in their 30s are in unhappy relationships due to similar thinking pre 2007.

lofty wiseman

Cheers , ideally I'd want to do it alone if I could .. My plan was to try get a mortgage and rent it out as long as I'm away and even for a bit when I come back , with a bit of help family would have enough for a deposit and even though I earn far from rockstar wages the unique circumstances of my job means I could cover the mortgage myself on my wage if I had to and still get by .. If they used common senses and looked at my outgoings they would have seen that .. But if you work abroad there's conditions you have to meet and your wage is put under a "stress test" and then they work out if your eligible ... Seemed obvious to me just to stop the average person who's not living and working here buying a house

Kmagic

From all ive read here and elsewhere, the fact you need the money in 2 or 3 years puts you in the "savings" rather than "investment" matket.

A possible "trick" you could do to make yourself look capable of owning a home is to set up 2 bank accounts in your own name. Pay yourself a wage into the first account i.e. €1500 lets say. Then set up a savings account with that bank and save €500 a month. Then set up a monthly direct debit to the second bank account marked "rent payment" of €1,000.

On the account it will look like you're paying rent and saving so can afford a it. This came from the advisor in my bank who said once the money leaves they dont know where it goes and you've created a paper trail.

lofty wiseman

Thanks kmagic