(i'm relatively new to the forum so apologies if this is is done to death in other threads..)

How damaging would an HPC be to banks, given that the value of repossesions would be lower. Would that just be a factor that is averaged out in the long term - given that these intitutions have been around for many decades so they can presumably ride out many cycles; .. or will we actually see banks collapsing?

As an FTB who seriously missed the boat, I'm wating for an HPC, but now reading this forum is making me paranoid about it's consequences and making me think "careful what you wish for"...

HPC will be damaging to banks, but not all of them. Choose NS&I if you want your money to be really safe. If you have savings below £35,000 then you don't need to worry too much. HPC and its wider concequences will affect everyone, but to varying degrees. Some of the doom and gloom threads may be a bit over the top!