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Decent savings in ICS, haven't a breeze what to do with them......

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  • 25-11-2010 3:37am
    #1
    Johnny_Dread
    Registered Users Posts: 14 ✭


    .....especially in the current economic climate.

    I have approx 40,000 in savings in the ICS/BOI and basically they are just sitting there. The initial plan was to use some of it to help finance a mortgage on my folks old house but lost my job in the interim and of course no one will touch me for a mortgage.

    Anyhoo was just wondering if anyone had any advice on where or who I should speak to about A) making sure the money is as secure as possible and/or B) now that the mortgage is off the table what is the best thing to do with the funds.

    May seem a little broad a question but I'm seriously flumoxed and have little real knowledge of investment etc. Hadn't expected to be in this situation and now I need to feel a little more secure. I'm not going to talk to the bank as I wouldn't believe a word out of their mouths so really advice on WHO to talk to would be really appreciated (or even to be directed to a more relevant part of these boards would be great).

    Ta.


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    #2
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    You are most likely getting a very poor return for your money in ICS.

    I suggest Nationwide UK @3% with instant access or KBC for a 9 month term deposit @3.51%.

    There is a lot more information here:
    http://www.askaboutmoney.com/showthread.php?t=90481


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    #3
    Johnny_Dread
    Registered Users Posts: 14 ✭Johnny_Dread


    Fungus wrote: »
    You are most likely getting a very poor return for your money in ICS.

    I suggest Nationwide UK @3% with instant access or KBC for a 9 month term deposit @3.51%.

    There is a lot more information here:
    http://www.askaboutmoney.com/showthread.php?t=90481


    Yeah, about 2% at the mo. Could do with better.

    Thanx man, I'll give it a butchers.


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    #4
    Iorras55
    Closed Accounts Posts: 87 ✭✭Iorras55


    Johnny_Dread wrote: »
    .....especially in the current economic climate.

    I have approx 40,000 in savings in the ICS/BOI and basically they are just sitting there. The initial plan was to use some of it to help finance a mortgage on my folks old house but lost my job in the interim and of course no one will touch me for a mortgage.

    Anyhoo was just wondering if anyone had any advice on where or who I should speak to about A) making sure the money is as secure as possible and/or B) now that the mortgage is off the table what is the best thing to do with the funds.

    May seem a little broad a question but I'm seriously flumoxed and have little real knowledge of investment etc. Hadn't expected to be in this situation and now I need to feel a little more secure. I'm not going to talk to the bank as I wouldn't believe a word out of their mouths so really advice on WHO to talk to would be really appreciated (or even to be directed to a more relevant part of these boards would be great).

    Ta.

    You could buy four of those brand new apartments they have in Ballybofey in Donegal that they can't sell for about €11,000 each (not that they are for sale singly) as the seller needs to sell 47 of them for €550,000. But, you'll have to battle the protesting construction workers who have'nt got paid for building them!!


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    #5
    Iorras55
    Closed Accounts Posts: 87 ✭✭Iorras55


    Here's the link to the Irish homes for just over €11,00 each: http://www.bbc.co.uk/news/uk-northern-ireland-11835825
    ;););)


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