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r2d26po

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  1. The gist I'm getting is that Revolut seems a very popular option in the UK, whereas Revolut is barely used here in France or Germany, on the other hand N26 is widely popular here. I recall having signed for Revolut years ago to "try it out" but never actually used it at all, it seemed much more complicated to use than Transferwise, fast forward to a year or two later, one day out of the blue I received an email that said something along the lines of "Your (unused) Revolut account is being migrated to Revolut Latvia or Lithuania" or some other Eastern European country due to the new Brexit regulations or something. Looks like I'll have to put it back depositing it again in my BNP Parisbas account ASAP then, I'll talk to the bank staffer on Tuesday (banks are closed on Mondays here), see what she says, re-depositing a such large amount of cash is definitely going to draw unwanted and undesired attention.
  2. I understand shared ownership schemes are outright seem as a "scam" by many more knowledgeable forum posters here, but objectively speaking, what are our families other options at this time? Besides I'm not even saying that it would work for us, there's still a few knobs to tweak left and right but at least I'm seeing this venue as a "maybe, maybe, maybe" rather than a flat out "nope". Average kids are taught in school "arguably useless" things like grammar, algebra, geometry, geography, sciences, etc, they are not being prepared for what's ahead of them, taught basic economics, mortgages, financial regulations, etc. Unless you are coming from a wealthy or at least above average median family, nothing prepares you in life for what's waiting for you. The system is not only stacked against people who don't know any better, I'd even go as far as stating the system is flat out rigged. You have to see it from my end, what would I possibly benefit from a such situation, going on the internet on a random forum telling people (I have never met and never will meet) have withdrawn 20k EUR, how would benefit from such a stupid mistake? I agree with that part, however what does the MSE acronym stands for if I may ask? Have a good weekend.
  3. Yet another pointless jab at us for no apparent reason... So, sign up for a 1 month premium account, use their services to transfer the funds to my Lloyds account and then "unsubscribe"? How will I be able to satisfy questions regarding the funds source to any solicitors then? Thanks in advance.
  4. Because we don't know any better. Hence why we turned to these forums where more money savvy people can advise us, seeking "counseling". We thought withdrawing it all and having it in hard cash, bank notes was the safest way to secure our wealth, turns out it's not. It's just adding another layer of complexity to the whole ordeal. Lesson learned.
  5. That's the plan my friend! We already are aware we can get the council tax discounted based on the wife's disability. Rent will be paid off by the 2nd room/living room/main room occupants until we have enough of our own money to staircase ourselves from the original 25% shared ownership to 50% if not straight ahead to 75%. Wife is injured and very ill, her health situation is unlikely to improve, GPs estimate her life expectancy to be less than 10 years from today, if we can manage to staircase ourselves to 100% by the time she's passing away, she will leave this World at peace, knowing our kiddo will have a modest flat to her name.
  6. That's exactly the plan, we understand that any savings over £16K means "bye bye benefits" hence why the money is still 1) in EUR currency in it's purest form; bank notes and 2) outside of the UK physically and monetary aspects. Mortgage is not possible at the moment, I am unqualified at best, I do small blue collars jobs left and right often paid in cash, no tax is being declared on these, the wife has a disability as such we believe we can get her under the PIP scheme and our kiddo is 3, under these circumstances mortgage is not an option. Buying under the shared ownership a 2 bed flat or even a 1 bed flat for us all 3, turning the second bedroom or the living room into a separate room and renting it again not tax declared is the way to go. I'm glad someone else is "getting it" and thinking the same way we do, UC/PIP/child benefits and assistance from the council along with renting the 2nd room to either Ukrainians using the "Homes for Ukraine" scheme or to any other Scottish individual looking for a room for rent in a shared house will eventually get us out of poverty, eventually. I understand this isn't politically correct but hell with it, as long as it's legal, well... it's legal. Now time to find a way to turn these pesky Euro bank notes into British Pounds bank notes. We've got until the end of May to figure it out.
  7. Well it's a bit more than that, the seller selling his 25% shares is accepting offers over £20K, I've already visited the place and spoke at great lengths with him, he made it clear that he would be accepting £21K to part away with his shares. Also I did a bit of "internet time machine" googling and found out the last time this property was on the market it sold for £16K a few years ago. So I assume he's looking into making a £5K profit at this point. Also I only assume 25% of the ownership might be even less than £15K at this point. Then again who wants to buy a property right next to a Mosque? That might explain a few things. It is very much possible hence why I'm here on these forums, frankly speaking; we're chav, we're (originally) white trash from Southern Europe, we know that, it runs in the genes and in our veins, we get it. But if we somehow can manage to alleviate ourselves from this lower class into the next tier on the social ladder using shared ownership, then why not. Not everyone is born with a silver spoon in their mouths. I fully agree however for us our modest 3 persons family, in order for us to claim UC/PIP and be eligible we need a stable fixed address in Scotland, the ideal solution to this is not to rent, it's to buy right here, right now, the longer we stay without a stable fixed address the longer it delays our benefits claims. It's a catch 22 at this point. The benefits would then be used to pay the remaining occupancy charges, also as this is a 2 bedrooms we are thinking of using that £350/month thing by "renting" a room to Ukrainians on the run which then would help us staircasing even faster. Therefore given our circumstances we are looking to buy as soon as possible. We just need to figure out an efficient way to transfer our funds from Europe/EUR to Scotland/GBP with as little conversion loss or "overhead" as possible, if any.
  8. I'm not even sure what you are trying to imply here, sadly it appears we are living in a World where everyone is considered guilty until proven innocent and suspicions are being thrown all around while it should actually be the other way around. It reminds me of the hurdles I experienced when I first got in the UK and the troubles I ran in trying to open a regular bank account (so I could hopefully get UC/PIP rolling in), almost every High banks on the streets told me to literally f*ck off, the only one that accepted me in was Lloyds and even there once I got an account opened there was no chances to even get a measly £20 overdraft from the get-go, whereas here in the rest of Europe one can open a regular account with ease, usually you get a standard £50 to £100 overdraft right on day 1 given you show up with an EU passport, not an Ugandese, Romanian, Albanian or a Moldavian one. To be fair I'm not sure either what kind of exchange rate I am expecting, it's the other additional fees that are pissing me off. Would you care to elaborate? What are the other alternatives besides the "traditional banking rails"? Thanks in advance. I will be looking into CurrencyFair, as for TransferWise I found them unreliable once you start sending too much money, too often. They will lock your account, ask you for a proof of ID over and over again randomly for no apparent reasons. Shared ownership is indeed not the best way to get started in real estate but it's at least a foot in the door into the real estate market, for someone like me struggling to keep up with tracking my expenses properly, coming from a lower than lower class background (I think in UK you have a term for us, you call us "chavs", right?) and having zero chances to ever owning anything in England (hence why I went to Scotland rather), Shared ownership seems the best way to get into real estate... if not the only way. This isn't a buy to let investment, it is a buy to live in investment and hopefully staircase to 100% and pass it on to my offspring in 20'ish years. That being said, I'm opened to suggestions on the real estate front as well. Have a good one.
  9. While 20k cash seems to be "a lot" at first, one has to remember these 20k were savings over the span of roughly a year and half, an uneven mix of part time "blue collar" jobs and unemployment/disability benefits stacked up altogether. I cannot fathom how would I possibly have the ability to demonstrate it is clean money. I've looked into it earlier, using Xe.com at 0.834383 GBP, a 1000 EUR transfer yields about 834.38 GBP, it's trash. Also I remembered I had the Wise app on my phone, at 0.834350 GBP per euro, an identical 1000 EUR transfer yields about 830.53 GBP, trash as well. I've been reading things left and right the entire afternoon to the point I got a headache, looks like Monday Tuesdays and Wednesdays are the worst days of the week to do international exchanges while Thursdays and Fridays should be preferred. It's either that, using Wise or else use the gold method which if the gold prices goes up, I might be able to generate a small profit, profit would be then used to cover the EUR<>GBP depreciation (am I using the right word?), I'm sure you get the idea. Thank you for your insight.
  10. Ah that would explain a few things then, so 0.86 is not for us mere mortals? Just between banks? As for the 1-2% I'd have to re-inject the funds in an EU/FR/EUR account first and that might trigger a thing or two as well.
  11. Oh well, came here seeking answers, got many but alas did not find the proper one yet.
  12. It's something I could definitely arrange doing but doing so, wouldn't be of much help into getting it converted at a 1:0.86 ratio into GBP by mid May, let alone getting it across the channel.
  13. That's exactly what I initially thought, in fact it's even how I have discovered this forum existence a few weeks ago, doing a soft Google search on Gold (back when it hit 2k USD), alas the HPC forum admins took forever to validate my account. So a 1oz Britannia coin has a face value of 100 GBP at resale time no matter what the gold market prices are. Gotcha. That's what I originally had on my mind, buy 20,000 EUR worth of Gold at the current market prices, wait for the gold market prices to rise and resell at 20,000 GBP if that's even doable, the generated profit will be eaten by the conversion but I could nearly attempt a 1:1 conversion. Is this even doable? That is correct, they are a wonderful bank to work with, I have zero complaints from them after nearly 12 years using it as my main bank... as long as you do everything in EUR or within the SEPA Eurozone, otherwise they are a nightmare to work with. Yeap, that's what I meant, like from my BNP Parisbas branch to my Lloyds branch. The rates were atrocious. The problem is that I have already withdrawn the funds in cash, re-injecting them in my French account makes little sense at this point considering I had to withdraw 1,500 EUR no less than 14 times... and it would most likely trigger money laundering things here in France.
  14. Then I suppose you're done with the thread. Please move on.
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