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What Would You Do?

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Ive been hanging about on the forum for a few weeks now and have to say what a great forum it is! I have been reading lots and posting little and now have a decent stash of tinned food ;):rolleyes:

I'm after a bit of advice really..

I'm 24, earn a decent wage for my age (26k) with 4% yearly pay rises

I've managed to saving a 10k deposit. I still live at home rent free so have very little out goings

Bank of mum and dad have been very kind letting me stay rent free and have said they would give me 30k to help me get on the ladder when I need it (they also did the same for my sister) They are mortgage free, both retired. I'd rather not take it but there argument is they would rather help me out than losing it in inheritance tax

I'm in no rush to move out - my folks are pretty sound

With the current markets, economy etc I'm just monitoring the situation daily and saving and saving. I really don't fancy buying at the moment and losing 20-30k and stiched up with a mortgage for the next 100 years.

I'm hoping there is a HPC of about 15-20% in the next few years - Which will enable me to save a further 20k + 10K already saved + the money from my parents and pick up a bargain ;) well thats the plan..

What would you do different from the above?? My main concern is... If I keep saving into HSBC is my money safe? if house prices do fall 15-20% Should I put the money into different accounts?

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  • 293 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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