banking, savings

[fred]

Property prices in the U.K can either go up or down.So thats a risk correct? Personally I would think long and hard about that one,especially in the UK!.. We had two rental properties in Lincoln a few years back.. Nothing but trouble with tenants so we got rid and invested the cash over here instead.If you are planning your future retirement in the R.P then you will need Peso`s..Not Pounds!!I wouldn't bet on the Pound to Peso exchange rate in 5 years time being favorable to todays rates and for that reason I would invest my cash in solid R.P banks in 6 month/one year PESO time deposits until you arrive.. (No more than 500k per depositor per bank.)When we first came over our bank account in the Isle of man was yielding 7.5 % !!That all went pear shaped because of interest rates and exchange rates.(fail)No good planning an overseas income via bank interest.. But you already know that.

[stevewool]

Property prices in the U.K can either go up or down.So thats a risk correct? Personally I would think long and hard about that one,especially in the UK!.. We had two rental properties in Lincoln a few years back.. Nothing but trouble with tenants so we got rid and invested the cash over here instead.If you are planning your future retirement in the R.P then you will need Peso`s..Not Pounds!!I wouldn't bet on the Pound to Peso exchange rate in 5 years time being favorable to todays rates and for that reason I would invest my cash in solid R.P banks in 6 month/one year PESO time deposits until you arrive.. (No more than 500k per depositor per bank.)When we first came over our bank account in the Isle of man was yielding 7.5 % !!That all went pear shaped because of interest rates and exchange rates.(fail)No good planning an overseas income via bank interest.. But you already know that.

why only 500k per bank Fred, is there enough good solid banks to put the cash in

[SteveJ]

Property prices in the U.K can either go up or down.So thats a risk correct? Personally I would think long and hard about that one,especially in the UK!.. We had two rental properties in Lincoln a few years back.. Nothing but trouble with tenants so we got rid and invested the cash over here instead.If you are planning your future retirement in the R.P then you will need Peso`s..Not Pounds!!I wouldn't bet on the Pound to Peso exchange rate in 5 years time being favorable to todays rates and for that reason I would invest my cash in solid R.P banks in 6 month/one year PESO time deposits until you arrive.. (No more than 500k per depositor per bank.)When we first came over our bank account in the Isle of man was yielding 7.5 % !!That all went pear shaped because of interest rates and exchange rates.(fail)No good planning an overseas income via bank interest.. But you already know that.

Agree with this.. depending on the time period that you are looking at, the property price may fluctuate and go down and you may end up making a loss especially when taking into account fees etc.