Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Looking to invest potential mortgage deposit

Options
  • 27-03-2012 1:45am
    #1
    MarcusFenix
    Registered Users Posts: 720 ✭✭✭


    Hi lads, complete financial guru here(lies, lies and more lies) wondering if I had ~€13K saved by the end of the year (saving for a mortgage), what would be the best thing to do with it over 2-3 years?

    I would be interested in low risk investments as I am in no way knowledgeable enough to look at high risk investments, however tempting they may be.

    Would the best thing to do be to just put it in a savings account somewhere?

    looking forward to your replies


Comments

  • Options
    #2
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    I think that a deposit account is the way to go - possibly fixed rates for one or two years. You can also get good rates on regular savings on deposits. See here.

    From the point of view of a future mortgage application, it's a good idea to save a constant amont regularly and save it into a separate savings account that no money comes out of. That way, when you're applying for your mortgage, you can show the lender savings account statements with €X per month being saved every month for 2 years or whatever. Lenders like that.

    Here's a few other tips towards a future mortgage application.


Advertisement