Upsizing

daddypuff

That may be true. There probably won't be any care for the likes of me from the state when i get there. The country is technically bankrupt already.

I_have_spoken

Sell to rent was a big thing over at House Price Crash. Very few peeps actually made it work.

If you expect the market to crash, take out a spread bed on the downside against the Halifax Price Index - that's a lot smarter than going without a home when you're so close to being mortgage free.

You'd be better off speaking to a financial planner about arranging things so that one partner isn't obliged to sell the home to pay for the care of the other. After all, you're wife is likely to outlive you by nearly a decade (based on actuarial data), you should do the decent thing & get a one-way ticket to Dignitas rather the chew up money in a care home.

daddypuff

I suppose it spends on what you mean by making it work. Bear in mind homeowners have got off lightly in recent years, due to artificially low interest rates. Once rates rise and they surely will then a lot of distressed sellers will enter the market and house prices will head one way - downwards.


Remember a 1% hike in rates from a level of 2% is a 50% rise.

ognum

daddypuff wrote: »

That may be true. There probably won't be any care for the likes of me from the state when i get there. The country is technically bankrupt already.

So isn't that even more reason to have some dish available, what do you think will happen to you?

ognum

daddypuff wrote: »

I suppose it spends on what you mean by making it work. Bear in mind homeowners have got off lightly in recent years, due to artificially low interest rates. Once rates rise and they surely will then a lot of distressed sellers will enter the market and house prices will head one way - downwards.


Remember a 1% hike in rates from a level of 2% is a 50% rise.

Yes, you are right but won't that also effect rents as landlords are forced to put up rents to cover costs and more people thrown out of there homes end up looking for private rents.

You see for every arguement there is a counter arguement. The HPC lot thought that wa going to happen before, they didn't understand that government would step in to stop it happening and QE would also happen.

I believe all you can do is spread yourself around in lots of different investments and hope.

If the sh't really hits the fan then we've all had it anyway

I_have_spoken

The country is technically bankrupt already.

http://howitends.co.uk/ - enjoy!

daddypuff

Well I agree, nobody’s going to give me shelter, trouble is if you keep it in the bank, when the financial panic sets in, they’ll raid my account anyway. Don’t believe this won’t happen? – Cyprus springs to mind.

[FONT=&quot]Not quite sure what to do, but do know I need to take action pretty soon[/FONT]

daddypuff

Thanks – I have spoken!

More reading for the prophet of doom. Read somewhere lately that all financial catastrophes are put to one side with declaration of war. Not done much research in this area, but sounds plausible.

ognum

daddypuff wrote: »

Well I agree, nobody’s going to give me shelter, trouble is if you keep it in the bank, when the financial panic sets in, they’ll raid my account anyway. Don’t believe this won’t happen? – Cyprus springs to mind.

[FONT=&quot]Not quite sure what to do, but do know I need to take action pretty soon[/FONT]

The value of your property may fall from 200,000eu to 50,000 but actually that doesn't matter if you're living in it.

If you had sold and put it in the bank them it's raided anyway.

When you find the answer please can you PM me, thanks!!!!,

racing_blue

Sell the flat, buy a house in Glyncorrwg for £50k and learn welsh while you live in it. Leaves £200k for your defensive investment of choice.

This works particularly well if you have a soft spot for the Valleys