Bit concerned over the Evergrande situation that has the potential of going like Bearings by all accounts. We have funds in banks waiting to be used next year for our build. The bank guarantee scheme is a limited pot and in Cyprus people got burned. So maybe best to spread it out and keep it well under the 80k. Incidentally solicitors clients accounts would be a nightmare in this situation. It looks like 3 bonds were covered but contracts say they all need to be. 

Maybe that's why China nd the US came arrived at an unexpected climate deal today too? Timing interesting. 

Edited November 11, 20214 yr by CalvinHobbes
thoughts

The UK banking system now is much more secure than it was in 2008. So a UK bank default is much less likely than it was then, but never say never.

In any case though, despite all of its problems, the UK is still a pretty safe debtor, and so as long as all your money is in separate bank accounts, with each balance below £85k and each bank covered by the FCS scheme, you will be fine. 

Thanks, I hope you are right. Bond market is a mess. Evergrande didn't default after all, or maybe they just bought a month.