info.LandsbankiAction.org.gg   30-Mar-2016: Liquidators' Update, see Deloitte site

It was just a number on a piece of paper

Even though my wife and I were born in a different country, we were raised by the same principles. "Study hard so you can have a nice job and earn first before you spend". So that's what we did.

Even though my wife and I were born in a different country, we were raised by the same principles. "Study hard so you can have a nice job and earn first before you spend". So that's what we did.

We both started working at a local supermarket, making our first little money at the age of 15. Before that, the local newspaper round provided us with the money we needed. We went to college and graduated with a massive debt to our governments. Straight after school we got a job and every pound (guilder in my case) was put aside to pay off this debt. This lifestyle came with a simple 'price'; no fancy holidays or evenings out. Once this debt was paid off, still not aware of each other, we individually bought our first house. But before that, we had to put a deposit in, which required (again) save, save and save.

The housing market was booming and even though the house was simple and basic, with a lot of effort and spending every weekend in the DIY shop, we managed to go up the property ladder pretty quick. In 2004 we met each other, and soon we decided that we wanted to spend the rest of our lives together. This meant, somebody had to sell their house and move in with the other. The choice was made to sell the house in the UK and to start a new life in The Netherlands. As we always wanted to go back to the UK, we thought it was a good idea to leave the money in the UK. This was not possible however, - not living in the UK means you cannot open a saving account, same for living in The Netherlands.

All that time, our saving account was nothing more than a number on a piece of paper. No plans or ideas were associated with it. As we are still young, pension is something which is far-far-away. This all dramatically changed when we got our baby daughter last December 2007. All of a sudden, our house was 'full'. We only have two bedrooms, - the door of our room cannot fully open (too small), the second one was used as a study. A friendly architect drew up some plans to lift the roof a bit, so we could create a third bedroom in the attic. In our heads these plans would add the 'cherry on the cake'. Our house is small, but we love living there, with this extension we could even start thinking of having another child. So our money in Guernsey was suddenly badly needed. No longer just a number on a statement, but an actual next step in our lives.

The builder would start the same week we learnt the bank was under Administration.