garden? what garden ?

2 grey, damp days- but today is a winter wonderland again, all snowy, sparkly and sunny.

So logging off GN and off for a great walk with OH and doggie up in the mountains behind - pheew.

not sure how this ended up here- it was meant for the News and Politics Forum, not here. Perhaps kind Mods could move this?

Message withdrawn at poster's request.

I have never claimed Brexit is the sole reason for the vast drop in exchange rates- never. And always said some factors pushed one up, and the other, down - increasing the differential.

But the Brexit factor has made this much worse, there is no doubt or question. A No Deal would probably push us towards parity, which would indeed be the last straw.

Neither of those factors could be expected and planned for.

I did not complain- someone told me I was made to consider going back to work at 70 and 75- and I just replied that I may well not have the choice.

Another gorgeous day- winter wonderland. I shall go and play in the big garden beyond...

So I don’t think we can blame Brexit for everything do you?

Of course not; that is a recent development and has not had such an impact as that of the Swiss Franc's growing strength over the years against other currencies too.

Over the past 15 years, the Swiss franc has increased in value substantially against both the US dollar and the euro. In recent years, factors such as the European debt crisis and accommodative monetary policy from the US Federal Reserve have boosted the franc.

Currencies trade in pairs, so they are strong or weak in relation to another currency. The European debt crisis caused investors to seek safe haven in the Swiss franc and loose monetary policy diminished the appeal of the US dollar.

The dramatic surge in the Swiss franc in 2015 was due primarily to one key event early in the year. On January 15, the Swiss National Bank (SNB) unexpectedly removed the peg of 1.20 francs per euro. In the initial reaction to the news, the Swiss franc rallied a massive 30% versus the euro and 25% against the US dollar. The move caused major upheaval in the markets and even forced some foreign exchange brokers out of business

Investopedia June 2019

Anyway, enough womansplaining from me, but I hope this helps.

It puzzles me why this is attributed to the fall in the value of sterling alone and does not take into account the appreciation of the Swiss Franc
I decided to research exchange rates now and shall we say over the last 20-40 years and read...
When I started selling Swiss property in 1986 the exchange rate was almost 3 Swiss francs to the £ but as I write this today (1st May 2020) the rate is just 1.2 CHF / GBP. That means in simple terms that if I had bought a Swiss property for £1 million back in ’86 it would be worth £2.5 million in sterling terms today. That is just on the appreciation of the currency alone and without even taking in to account the capital appreciation of the property

So yes the exchange rate has changed as the value of the CHF has risen - and no doubt the standard and cost of living accordingly. The capital appreciation of property will also be considerable - and the value of any house that much greater.

Just saying that a lot can happen over 20 or 30 years, in 1984 we sold our house in London for £65k . Adding a nought to the end of that figure not buy back the same house today!

So I don’t think we can blame Brexit for everything do you?

When we bought here, we got 2.50 Swiss francs for £1. Currently it is about 1.18- but at some point last year our pensions were paid t 1.14. The maths are not complicated really.
Yes, the same thing happened to us in Australia, $2.4 to GBP1, although we decided not to stay anyway. Then it plummeted down, now is up again, not as high as it was in 2000.

Your Swiss Franc is very strong which affects the exchange rate, of course.

So plenty of time to get back on ladders, and lie on my side, to fill, sand, prep, undercoat, top coats - ceiling with beams will be the hardest. All 3 bedrooms in own suite with fab bathroom will be ready- just in case ;)

Charleygirl5

Starting a B&B at your age? are you mad?

blimey- wish you had not asked Stanley!

Anyhow, NO garden, for quite a long time- was the message. Let's stick to that, ta.

ah yes, such a joy. Sadly grandchildren won't be joining us for a white snowy Christmas- and probably not to ski in February ...

Hopefully we will be together in the UK for Easter- but che sera, sera.

It's lovely that we have become surrogate grand-parents for many youngsters here - young British families also cut off fro their family in the UK - and we can look after each other. And to be trusted with their children who think of us and another pair of, more local, grand parents or Aunty and Uncle.

How lovely. My gd can't remember snow I would so love to make a snowman for her

Pensions not frozen- but this is pretty irrelevant when most is lost to exchange rate.

So let's got back to my disappeared garden.

Been snow shoeing with a young British friend in the fields and up to the woods and back, having first had a try in our back field. We had a good giggle- made a pact not to talk about Brexit- and had a wonderful time. Right up to the moment we had to climb up to the road and over the mound of snow left by the snow plough and I stepped on the front snow shoe with the back one- lost my balance- curled into a bowl and fell on the icy road and could not get up as I could not get a grip.

We laughed so much and no damage done- and went home for a cuppa and a good chin wag- sitting on a sledge in the front garden in the sunshine.

Not going to be drawn in a long discussion here.

When we bought here, we got 2.50 Swiss francs for £1. Currently it is about 1.18- but at some point last year our pensions were paid t 1.14. The maths are not complicated really.

If No Deal, it is expected that we will go to parity- so £1 for 1 CHF. Again maths not complicated.

Yes, Calli- we were very aware that currencies fluctuate. When my mother studied in London in the 30s- she got about double the amount I got in 1970. Mind you, it was easy for the maths- as I got exactly 10.- for £1.

But nothing can prepare you for that kind of loss- and there was NO way we could anticipate this.

If we sold here and went back to UK when Sterling is very low, as expected early next year- we would be very well off. But at the moment, it is really not an attractive prospect. I gave the UK all I had got, my heart, my soul and my skills - and it gave me so much back. What I so loved about it has gone and going. Tolerance, open mindedness, humour, generosity, equality for all, a mixed society that worked.

And this is why I get so upset- because I so loved England, the UK. Just as you get upset when you see your favourite friend or sibbling change, from a wonderful, honest, happy, funny person - to someone two-faced, dishonest, unfair and cruel- and you watch in disbelief- unable to act or do anything.

petra

Callistamon
If you recieved, let's say, a teachers pension or a Doctors pension would they be frozen when you left the uk?

I don't think so, petra.
I don't think the State Pension is frozen either in an EEA country.

It does get frozen in Australia, though, which was a consideration for us years ago.
It must depend on UK agreements with other countries.

Your State Pension will only increase each year if you live in:

the European Economic Area (EEA)
Gibraltar
Switzerland
countries that have a social security agreement with the UK (but you cannot get increases in Canada or New Zealand)

Callistamon
If you recieved, let's say, a teachers pension or a Doctors pension would they be frozen when you left the uk?

MawBe

I take your point, but I was talking about public sector not state pensions.
The basic state pension is a different matter altogether.
But can anybody who is mathematically minded explain the concept of the 65% drop please?

I'm not a mathematician but, over the last 5 years the exchange rate has gone from about 1.5 CHF to the GBP to around 1.2 CHF to the GBP, with various fluctuations on the way.
The Swiss Franc has increased in strength against other currencies, not just the GBP.
It is something to factor in when moving overseas with income from another country.

Well, there is something called Brexit- so far a loss of 65% of income due to exchange rate since we moved- and probably another big fall to come soon.

I didn't think that Switzerland was in the Eurozone but perhaps I'm wrong.

Is your State pension subject to increases, biba? Or is it frozen at the rate it was when you went to live in Switzerland?
That is what happens with some countries which do not have a reciprocal arrangement with the UK, eg Australia.
It's hard for some who emigrated after or near retirement.

One of the advantages of having the payment made direct to a bank in Australia is that the pension will be paid in Australian dollars at no charge and at a favourable exchange rate because the British Government bulk buys currencies and so gets them cheaper than you or I could from the usual channels.
Thisismoney

I've just checked the UK government website:
You will get your UK State Pension uprated every year for as long as you continue to live there. This will happen even if you start claiming your pension on or after 1 January 2021, as long as you meet the qualifying conditions.

You will continue to receive any UK benefits you already receive in the EEA or Switzerland for as long as you continue to live there, and continue to meet all other eligibility requirements.

You may also be able make new claims for certain UK benefits from 1 January 2021, if you meet all the other eligibility requirements.

I hope that helps.

Exchange rates do fluctuate so it may sometimes be advantageous, at other times not so.

MawBe
Have sent you a PM.

I take your point, but I was talking about public sector not state pensions.
The basic state pension is a different matter altogether.
But can anybody who is mathematically minded explain the concept of the 65% drop please?

MawBe
I have friends on a basic uk pension of £175 per week. I don't think they would survive if they continuously had to take a drop of 65%.

And there are many who have been made redundant or whose livelihoods have evaporated altogether whose belts can barely tighten any further. Hospitality, retail, the arts or entertainment industries for example.
I think some of us on pensions -in particular public sector pensions which provide a degree of stability , might be forgetting those whose incomes have dried up and with massive unemployment, face little chance of finding a job again. And no, I don't want anybody like Sarah70 did, to retort that they can go and live in a van and work for Amazon!
The exchange rate is the least of their worries.

Switzerland is a beautiful part of the world but it is expensive to live there. You also have a lovely house there and a bonus of one in this country. We are all tightening our belts these days but luckily we do not have the exchange rate to worry about.

Charleygirl5

Starting a B&B at your age? are you mad?

Well, there is something called Brexit- so far a loss of 65% of income due to exchange rate since we moved- and probably another big fall to come soon.

Will be 70 and OH 75 - and 50 years married next year- so not quite what we had planned. But if needs must- then so be it.

Sounds gorgeous, biba70

Count me in for the B&B