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Currency devaluation is going to kill your (maybe literally). If you are getting paid in British pounds everything is going to go up extremely. So fuel, groceri
by rdtwo 4y ago
Currency devaluation is going to kill your (maybe literally). If you are getting paid in British pounds everything is going to go up extremely. So fuel, groceries etc will go up, and then interest rates will have to follow because there is an expectation of further devaluation that interest rates have to account for.
I realize selling now and taking a huge loss is not something that seems feasible but it’s worth trying to understand what adverse scenarios look like.
If you truly can’t pay and the house gets reposesed what is the process? What are the consequences? Can you delay it for long enough that the system gets bogged down with other people getting foreclosed before you?
Try to think of this like you are a corporate CEO. You need to position yourself into such a scenario that you limit your losses if things go against you and know when you walk away.