From: "Zoe Brown" 
Newsgroups: uk.finance
Subject: Re: Property rental paid for by interest on savings
Date: Fri, 14 May 2004 18:02:42 +0000 (UTC)


> Anyway, we have almost sold our house and are looking at making about
> £180,000 equity, which we were hoping to sink into a new house without
> the need for a mortgage (teachers dont get paid much!).
>
> We are having trouble finding a house, and time is starting to run
> out.  Looking at building society interest rates, it looks like I
> would get over £500 a month if I put this cash into a savings account
> (sound about right?), which would allow us to rent a house while we
> continue looking and not have to dig into savings.

You will have to check that your account pays interest monthly.

Have you included capital gains tax ?

how did you calculate that figure ?

Did you remember to include tax on the interest ?