Originally posted by LondonManc
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
warchest etc
Collapse
X
-
-
Originally posted by xenomorph View Post
will look into loans instead if I come to buying property time and I not got enough for deposit withdraw plus 6 months leftover.
A loan from family/friend/PSC to you need not. A loan to your PSC (hint.. Bounce back loan scheme) wouldn't either.
MComment
-
Originally posted by LondonManc View PostOnly an issue if you're considering selling any time soon. If you're in your "forever home" and don't have to sell, it doesn't matter.
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by GhostofTarbera View PostUnless you are out off work for a year, and need to sell
Sent from my iPhone using Contractor UK ForumComment
-
Originally posted by Old Greg View PostAgreed, except for the missed opportunity of buying it cheaper, if you can time it right...The greatest trick the devil ever pulled was convincing the world that he didn't existComment
-
well there is a good chance that I go back to being a permie after buying like I mentioned.
yes I can loose my job still as a permie but risk are less then with contracting as usual
only issue with 12 month warchest is it will take a long time build that up and thus not make it possible to purchase a property.
Seeing as house prices are very likely to drop next year will be best time to do this.Comment
-
Originally posted by xenomorph View Postwell there is a good chance that I go back to being a permie after buying like I mentioned.
As for myself, I have a 24 month warchest, which I admit is a lot, but that's just because I don't have an expensive lifestyle so it didn't take long to get there. 12 months should be big enough, even in this challenging time.
I've got it spread around a couple of easy access / ISA's accounts. Virtually no interest earned but quick and easy to take the money out.Comment
-
a lot of my money at the moment goes towards rent in London and bills. 60% dividends I pay myself goes on just that!Comment
-
Originally posted by LondonManc View PostYou're not scootysnot's literate twin are you?Comment
-
Contracting for 10 years, only had two spells of no work which include the last 2 months of this pandemic.
Warchest for me needs to be around 6 months minimum
If you want to get on the housing ladder quickly and it's your first place, take a look at the help to buy scheme - 5% deposit with a low mortgage payment for 5 years before the interest on the loan part kicks in.
Do research around it first though as it's not for everybodyLast edited by ResistanceFighter; 2 June 2020, 14:18.Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment