The Banks owning houses.

AFCDorset said:
Is it safe?

In my best Laurence Olivier 'fake German' accent.

Seriously, sounds like a great way to hold and spend gold, but what happens if one of the principles goes broke or similar?
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Check there site out and do your own research, it was recommended to me by someone I trust. But I would expect you to do your research AFC
 
Running Fox said:
Check there site out and do your own research, it was recommended to me by someone I trust. But I would expect you to do your research AFC
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I have, and looked at various independent sites that have looked into the company.

Mostly troubled by Glint filling for bankruptcy in 2019 and finding difficulty in finding out exactly how that worked out.

Was hoping that you might have some inside to share.
 
AFCDorset said:
I have, and looked at various independent sites that have looked into the company.

Mostly troubled by Glint filling for bankruptcy in 2019 and finding difficulty in finding out exactly how that worked out.

Was hoping that you might have some inside to share.
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If they feel wrong for you check out the Gold buster lads they do seem honest and sincere? As I said I trust the guy who put me on to Glint but cannot give you more than that sorry .
 
i understand the plan, to invest in precious metals to hedge against a potential currency devaluation. but i don't understand a couple of things - can someone help. genuine questions:

- if you don't physically hold the metal, how are you protected against a potential currency devaluation? the value of your gold may hold, but how is that of use to you if you don't physically hold it? would i be right to think the only option open to you is to 'cash it in', for a devalued currency?

- if you do physically hold it, then what? obviously you can't pay asda with it.

is the general idea to just keep hold of it, until things recover in some way?
 
Adumass said:
i understand the plan, to invest in precious metals to hedge against a potential currency devaluation. but i don't understand a couple of things - can someone help. genuine questions:

- if you don't physically hold the metal, how are you protected against a potential currency devaluation? the value of your gold may hold, but how is that of use to you if you don't physically hold it? would i be right to think the only option open to you is to 'cash it in', for a devalued currency?

- if you do physically hold it, then what? obviously you can't pay asda with it.

is the general idea to just keep hold of it, until things recover in some way?
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Morning Adumass. It is a subject that I have been looking into for a while.

Our finances have been organised such that all our 'assets' are in our home and in cash, we have modest incomes from pensions, the cash is there to be used and make our retirement more comfortable. Family and other obligations have already been met.

That cash makes the difference between us 'living comfortably' and 'just living'. Massive devaluation of that 'cash' is what I find troubling, so the question is what to do with it.

First thought was to buy another property as a rental, a good idea as the rental income can be be adjusted in line with inflation, but the government are now protecting tenants who can't or won't pay their rent, lots of hassle that I would rather avoid.

So the next thought is precious metal, gold or silver, usually a good bet in troubled financial times. You can buy gold 'on paper' where the metal is held for you and subject to the usual 'management' and storage fees. Buying and selling is subject to the usual buy/sell margin, making it a longer term investment. Since you do not physically hold the metal, it is not totally under your control.

Buying the actual metal and having it in your possession is more secure but in order to 'spend' it, it will need to be converted into cash, this assumes that there will be a structure, a market in place so you can do that, but you need a working economy of sorts to make that work. This would work fine if that was the case, as inflation reduces the value of cash, gold will rise in value so you will get more when you sell it.
 
Adumass said:
i understand the plan, to invest in precious metals to hedge against a potential currency devaluation. but i don't understand a couple of things - can someone help. genuine questions:

- if you don't physically hold the metal, how are you protected against a potential currency devaluation? the value of your gold may hold, but how is that of use to you if you don't physically hold it? would i be right to think the only option open to you is to 'cash it in', for a devalued currency?

- if you do physically hold it, then what? obviously you can't pay asda with it.

is the general idea to just keep hold of it, until things recover in some way?
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It depends on what you are looking for? like stocks and shares Gold prices change all the time, so you can buy low and sell high if you wish. But most are looking longer term, Gold has gained in value greater than house prices over the years and because the way banks are allowed to lend against there Gold holding is changing in 2023 its thought it will go up even higher soon? If you go on the Gold busters web site there is a video that explains it better than me. To be honest its guesswork unless your in the know, but cash and saving are under attack and people, me included are looking for protection.
 
AFCDorset said:
the government are now protecting tenants who can't or won't pay their rent
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Or giving tenants more protection against dodgy landlords. The law hasn't actually changed that much in terms of evicting tenants who don't pay their rent. Notice periods were changed due to Covid and the courts being closed but they are being moved back to pre-covid terms gradually.
 
Club_B00k_Crutchless said:
Or giving tenants more protection against dodgy landlords. The law hasn't actually changed that much in terms of evicting tenants who don't pay their rent. Notice periods were changed due to Covid and the courts being closed but they are being moved back to pre-covid terms gradually.
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I saw an interesting interview with a guy that was called king of the buy to let. He was saying that he has sold all his rental properties and is now investing in retirement rooms and land for burials due to our ageing population.
 
Running Fox said:
I saw an interesting interview with a guy that was called king of the buy to let. He was saying that he has sold all his rental properties and is now investing in retirement rooms and land for burials due to our ageing population.
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I know there's been a bit of a move away from BTL. The Govt have now removed tax relief from the mortgage interest so there's a lot less profit for those who took out large mortgages to purchase the BTL property, maybe even none at all after other outgoings are taken into consideration.
 
Running Fox said:
Not really there home if they have not payed for it is it?
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It is if they sign an agreement allowing them to live there. Just because they don't own it doesn't mean it's not their home. It comes back round to the original point of this thread if you want to see it like that. Your house isn't your home until you've paid off your mortgage.
 
Club_B00k_Crutchless said:
It is if they sign an agreement allowing them to live there. Just because they don't own it doesn't mean it's not their home. It comes back round to the original point of this thread if you want to see it like that. Your house isn't your home until you've paid off your mortgage.
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Yeah, and if you stop paying your mortgage you wont be living in that house for long.
 
Club_B00k_Crutchless said:
It is if they sign an agreement allowing them to live there. Just because they don't own it doesn't mean it's not their home. It comes back round to the original point of this thread if you want to see it like that. Your house isn't your home until you've paid off your mortgage.
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Take it from somebody who has had two houses trashed by tenants and then had to pay costs to evict them ( after the loss of unpaid rent ) I have no sympathy for those that do not keep up to that agreement.
 
Running Fox said:
Take it from somebody who has had two houses trashed by tenants and then had to pay costs to evict them ( after the loss of unpaid rent ) I have no sympathy for those that do not keep up to that agreement.
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Yes, I'm not saying people shouldn't be evicted for not paying rent. What happened to you is a tiny minority of cases. I could give you examples of where dodgy landlords think they are above the law and charge people rent for houses that aren't fit for habitation, don't bother with Gas safety checks etc. They are also a tiny minority.
 
Usual nonsense.

In the real world landlords are finding some tenants being difficult, paying late, not paying at al, refusing to leave. Decent landlords are being taken advantage of, they are not all crooks.

Around us this has pushed rental prices higher, some property is being left empty as the owners do not want the hassle and market forces are doing the rest. Returns are good if you are prepared to take the risk.

Were I younger or fitter, that is what I would do.
 
I am a landlord. Yes it is causing some issues but as usual others know better.
 
Club_B00k_Crutchless said:
In your world you only see it from one perspective.
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Don't be silly, that is why I said some.

Like RF I have had to deal with shitty tenants, including one who ran a cannabis 'processing business' from one of my properties, yes seriously! Some of course were absolutely fine.

During our 'family issues' some years ago we had to rent and had three tenancies, all in north west London. In two cases the landlords were great and we left the property in better condition than when we moved in. The other, a divorced lady was a total shit.
 
Club_B00k_Crutchless said:
Well your first post was about how the Govt are protecting tenants, and other posts all presented form one perspective, so of course I have to offer an alternative.
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This is not black and white, rarely is. The law may not have changed but the emphasis has and it has shifted towards the tenant. Not necessarily a bad thing but there seems to be some taking advantage.

Rents are, in the main, based on property prices, they normally vary only a little, financial pressures affect landlords too, particularly if they have a mortgage. A decent tenant is much prised by a landlord and many will go out of their way to keep them.

This is another area that the government gets involved in and really shouldn't, it has caused most of the housing issues we have in this country but refuses to address those core issues.
 
Buying “paper” gold and silver is just like buying shares. No protection against a stock market crash. Read the small print and you’ll see that if they cannot give you the physical gold (or silver) when requested, if they haven’t got it they will redeem you in cash. No good if the financial system has collapsed. Paper Silver is over subscribed x 5. I.e, there is 5 times the amount of paper silver owned than there is physical silver above ground. They get away with it by claiming it’s a futures market. (The silver you’re buying is under ground waiting to be dug up) it keeps the price of silver low and the ratio between gold and silver high. JP Morgan were fined millions for this last year I believe.
Physical gold and silver won’t help you in a financial crash. Physical gold and silver will only help you in the recovering economy.
Priority should be guns, ammo, water, food, then gold and silver.
But just to add, your government will have made it illegal to own gold and silver long before any crash and you will be invited to hand it in. So any deals you do for gold and silver always carry out on the secondary market.
I’ve lost all my silver in a recent boating accident.
 
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