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How Are You Doing In Your Hpc Game Plan?


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Hi all,

First time poster but been reading the forum for some years. My situation is I want to eventually buy a place in Cambridge, not easy with Uni, large hospital, BTL's, London money moving out, poor housing stock on market. i have been working like a dog for 4 years piling cash into savings. I have money in UK based banks below 85k govt guarantee. Have been very jittery about my savings especially since the Cyprus situation.

Like many on here, have the problem of what to do with savings to prevent erosion or ultimately possible theft. I am not much good with stocks and shares, not sure about gold, or gilts or bonds, have only picked up on what I have read on here, basically I'm no economist. Have been too busy working to have the time to get my head round it all, or be comfortable investing in any of those risk mitigation strategies.

So what to do with the savings...I am currently working for a Swiss company, and work over there once a month. Have been talking to a few ex pats and finding out how that country works. I'm leaning towards opening a Swiss bank account with a Kantonal bank AAA rated and understand that you can have that account split into different currencies i.e. CHF, USD. Thinking of moving all my savings over there and understand that due to size of savings would not be a problem opening the account for a non Swiss resident. Thinking of moving into different currency CHF probably, but can easily move between £, CHF and USD due to structure of account. Would be interested to know anyone's thoughts on that strategy or on which currency you feel best to diversify to.

There's no magic answer and it's a sad day when you even have to think about off-shoring your savings, but it seems the government guarantee advert is on the radio every 5 minutes at the moment, which makes me even more jittery. I am over there again soon so will be looking to walk into a bank to discuss, let's face it I'm not going to miss out on any interest at present in UK accounts.

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Hi all,

First time poster but been reading the forum for some years. My situation is I want to eventually buy a place in Cambridge, not easy with Uni, large hospital, BTL's, London money moving out, poor housing stock on market. i have been working like a dog for 4 years piling cash into savings. I have money in UK based banks below 85k govt guarantee. Have been very jittery about my savings especially since the Cyprus situation.

Like many on here, have the problem of what to do with savings to prevent erosion or ultimately possible theft. I am not much good with stocks and shares, not sure about gold, or gilts or bonds, have only picked up on what I have read on here, basically I'm no economist. Have been too busy working to have the time to get my head round it all, or be comfortable investing in any of those risk mitigation strategies.

So what to do with the savings...I am currently working for a Swiss company, and work over there once a month. Have been talking to a few ex pats and finding out how that country works. I'm leaning towards opening a Swiss bank account with a Kantonal bank AAA rated and understand that you can have that account split into different currencies i.e. CHF, USD. Thinking of moving all my savings over there and understand that due to size of savings would not be a problem opening the account for a non Swiss resident. Thinking of moving into different currency CHF probably, but can easily move between £, CHF and USD due to structure of account. Would be interested to know anyone's thoughts on that strategy or on which currency you feel best to diversify to.

There's no magic answer and it's a sad day when you even have to think about off-shoring your savings, but it seems the government guarantee advert is on the radio every 5 minutes at the moment, which makes me even more jittery. I am over there again soon so will be looking to walk into a bank to discuss, let's face it I'm not going to miss out on any interest at present in UK accounts.

The Count of Nowhere might be able to help

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Hi all,

First time poster but been reading the forum for some years. My situation is I want to eventually buy a place in Cambridge, not easy with Uni, large hospital, BTL's, London money moving out, poor housing stock on market. i have been working like a dog for 4 years piling cash into savings. I have money in UK based banks below 85k govt guarantee. Have been very jittery about my savings especially since the Cyprus situation.

Like many on here, have the problem of what to do with savings to prevent erosion or ultimately possible theft. I am not much good with stocks and shares, not sure about gold, or gilts or bonds, have only picked up on what I have read on here, basically I'm no economist. Have been too busy working to have the time to get my head round it all, or be comfortable investing in any of those risk mitigation strategies.

So what to do with the savings...I am currently working for a Swiss company, and work over there once a month. Have been talking to a few ex pats and finding out how that country works. I'm leaning towards opening a Swiss bank account with a Kantonal bank AAA rated and understand that you can have that account split into different currencies i.e. CHF, USD. Thinking of moving all my savings over there and understand that due to size of savings would not be a problem opening the account for a non Swiss resident. Thinking of moving into different currency CHF probably, but can easily move between £, CHF and USD due to structure of account. Would be interested to know anyone's thoughts on that strategy or on which currency you feel best to diversify to.

There's no magic answer and it's a sad day when you even have to think about off-shoring your savings, but it seems the government guarantee advert is on the radio every 5 minutes at the moment, which makes me even more jittery. I am over there again soon so will be looking to walk into a bank to discuss, let's face it I'm not going to miss out on any interest at present in UK accounts.

To be honest..if the banking system in the UK collapses the least of any of our worries will be owning a house or our savings.

I do plan to move my savings off shore as soon as I can move myself off shore.

Where to put your money in the meantime. Stock market...looks to be rigged to me...the housing market...looks to be rigged to me...gold...10 years ago for sure, now, could go either way...savings accounts, look to be loosing money relative to inflation but not relative to housing.

It depends on what sort of risks you want to take and what the money is for.

Asking anyone on a public forum where you should put all your savings is not the best idea though, that's for sure, do some research and decide yourself.

If you are worried about your money though, wire transfer it to me in Nigeria and I'll look after it...I'm offering a guaranteed 20% return over 10 minutes...that is, as soon as i've had your money, 10 minutes later you can have your 20% interest....you'll have to wait a while longer for the rest back though :P

Edited by TheCountOfNowhere
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Thinking of moving into different currency CHF probably, but can easily move between £, CHF and USD due to structure of account. Would be interested to know anyone's thoughts on that strategy or on which currency you feel best to diversify to.

There's no magic answer and it's a sad day when you even have to think about off-shoring your savings, but it seems the government guarantee advert is on the radio every 5 minutes at the moment, which makes me even more jittery. I am over there again soon so will be looking to walk into a bank to discuss, let's face it I'm not going to miss out on any interest at present in UK accounts.

I have the lions share of my savings in USD. To be honest, it doesn't really give me that much peace of mind as I'm pretty sure if one country goes all the rest will like a house of cards and the extra safety of having the money in the worlds reserve currency is kind of offset by the fact I can't just go in and pull it out quickly.

There are also FX and transfer rates to consider if you are ear-marking funds for purchase in any other currency as well.

Overall, I'd be thinking that if any currency was to go down the toilet and not worry the world too much it would be GBP, but if you really want to diversify, then moving to another asset class entirely would seem like a better way to go.

All IMO and there are far more qualified people on here than me to comment I'd think.

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Have been very jittery about my savings especially since the Cyprus situation. Like many on here, have the problem of what to do with savings to prevent erosion or ultimately possible theft.

UK non-home-owning savers have been ripped off. Bubble gets out of control so you save waiting for better value. Crash comes and it's slashing of rates, SMI extended, hundreds of billions in QE in UK, if not over a trillion, and $2.8 trillion of quantitative easing from US to slosh around world. Not to mention China's stimulus. Cheating.

And so many home-owners oblivious to any of the situation around them, still lecturing you can't go wrong with property, renting is dead money, always goes up, not making any more land ect.

You'd hope after all that, non-home-owning savers are due some sort of pause from the cheating and the punishment, especially as house prices in so many areas. However notable softening at upper ends of market outside London. That's where the crash is coming from, Top down.

The way I see things is the same as a number of others on here. Inflation is certain to increase at some point, possibly significantly, and I'm already seeing my savings being eroded. Holding lots of mortgage debt means I'll get to 'benefit' from this inflation.

Doesn't make sense to me, unless HTB2 takes hold. So many downsides from this point of maximum danger. Rates floor for years so no real risk of falling further without it being openly being the biggest cheat, and US set to taper. Questions of the effectiveness of UK QE and whether markets will let us get away with much more of it.

If I was positioned to buy an upper end house, £1m+, I'd certainly have seen the value of my savings boosted massively against such houses with falls in value, and everything flashing red for much more severe falls from peak values or asking prices. Got to hope when it goes further it's going to put heavy pressure on mid-end house prices.

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And so many home-owners oblivious to any of the situation around them, still lecturing you can't go wrong with property, renting is dead money, always goes up, not making any more land ect.

That's another reason to back up the idea that we haven't seen the real crash yet: overall sentiment hasn't changed from "you cant go wrong if you buy a house" to "don't buy a house now, it's a terrible idea" thus the boom/bust cycle hasn't been allowed to run it's course. When people start saying that (other than HPCers that is!) you'd better hope that you're in a position to buy.

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Well that's just it - I think we may even have gone through the trough in the cycle - it's just been a lot smoother than it could've been.

The place I've bought that sold for £300k in 2004 is just under £400k in today's money adjusted for inflation, so it's halved in value in real terms in 9 years.

I think the rising prices in London have really masked the price crash for the UK. Had there not been an influx of foreign money keeping London prices go up, the UK price falls would've looked much steeper.

I still agree with many on here that we could well be in for a massive financial crisis at some point, but in that event you're probably better off with some tangible assets, rather than some numbers on a bank balance that could be taken by the government/inflated away/locked in by the bank.

Really? It had better be a secure mansion with gates and guards, because until people can afford to live and put down roots in a community the risk of real social problems caused by more financial strife is real IMO. The last thing you want is to be shackled to a mortgage, you are just a convenient tax target for the government if you are stuck somewhere that you "own".

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Doesn't make sense to me, unless HTB2 takes hold. So many downsides from this point of maximum danger. Rates floor for years so no real risk of falling further without it being openly being the biggest cheat, and US set to taper. Questions of the effectiveness of UK QE and whether markets will let us get away with much more of it.

Yeah might be right. I think one thing that's been made very obvious to me having been on HPC for almost 10 years is you just can't predict how the economy is going to shape out now due to all this government intervention.

Bottom line for me is I cant wait forever. I think I'd rather take my chances on getting somewhere to live rather than keep on renting and look at an increasing number of digits each time I check my bank balance. I think spreading your bets is the safest thing to be doing at the moment, and for me that is going to include buying a property to live in.

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Sold my flat in 2010 due to iffy work situation. Afraid that I would default on the mortgage and risk repossession.

Now employed in a public sector job (yes, I know!) that I really like and can see myself being there for the long term.

Problem is that I'm unable to save up for a deposit due to the high propertion of rent I shell out and diesel required to get to work and back. On the plus side, my gas, electric and water bills are pretty low so I'm not in fuel poverty... :rolleyes:

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This site informed my decision to sell in 2005 and not buy back in because of a pending HPC. I rented for about 18 months and the market in my area just took off in that period. I panicked and tried to buy back in but was unsuccessful in 12 separate offers due to the accelerating market.

The property I had sold rose by £40,000 in two years. I eventually bought back in but ended up with a lesser property for the money I had available. Although my current property has gained in value, I have never made up the shortfall.

I would like to buy a superior property but prices have moved further away from me in percentage terms.

Despite getting burned, I still follow this site and believe there is a chance that a HPC may come in the not too distant future. I would like to have the sphericals to STR but I don’t have them after my experience. I am saving and hoping if a HPC does come I can take advantage to improve my property position.

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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