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Affordable Housing - Can Shares Be Used?

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  • 10-05-2005 7:21pm
    #1
    Supercell
    Registered Users Posts: 15,401 ✭✭✭✭


    My employer has an employee share purchase scheme whereby about 10% of my monthly wages go into buying the companies shares at a 15% discounted rate (from share price at the end of the buying period).

    My question is this..my current account usually ends with a balance of 0€ at the end of the month but the shares are gathering value bit by bit at a nice steady rate.

    Can I use this as evidance of ability to save or does it go by bank balance only , would really rather not have to ditch buying the shares as its a pretty good deal for blue chip company shares and i'd rather hang on to them than sell ..also ..money in my account is a horrible temptation to spend..shares are easier to save with for me.

    Anyone any ideas on this ?
    https://www.loughlinstown.ie/

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Comments

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    #2
    Victor
    Registered Users Posts: 78,388 ✭✭✭✭Victor


    They might be usuable but remember shares can go up or down. Owning shares in the company you work for can put you in a doubly difficult position if the company goes bust. Are you at least getting the tax-break of SAYE or similar?

    The problem of course is that the bank will want security and will probably want to hold the share certificates you don't hold yet.


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    #3
    MorningStar
    Closed Accounts Posts: 3,031 ✭✭✭MorningStar


    As far as know you can't use shares as security when purchaseing a property. Shares can be worthless tomorrow so there is actually no security in them.

    They should accept it as a form of saving regularly but I still not convinced that makes a big deal to the banks. It might help swing a decision but little more


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