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09-14-2007, 01:17 PM
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When banks go bust Post #21 | | Member
Join Date: Jan 1970
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BTW id expect a takeover bid imminent for Northern Rock by one of the big banks. RBS/Natwest is my tip...
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09-14-2007, 01:17 PM
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When banks go bust Post #22 | | Junior Member
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Keep me informed Neil when you pop into town. I've banked with them since I was 16 - indeed got a nice couple of grand when the floated back in '97. Alison has our mortgage through them as well, so we'll be keeping any eye on things. I'd hope(!) that it's nothing to worry about in the long term.
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09-14-2007, 01:18 PM
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When banks go bust Post #23 | | Junior Member
Join Date: Dec 2001
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Quote: |
BTW id expect a takeover bid imminent for Northern Rock by one of the big banks. RBS/Natwest is my tip...
| What would that involve as a NR customer with regards to mortgage / savings?
Will everything remain the same, or can they impose their interest fees on all accounts?
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09-14-2007, 01:19 PM
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When banks go bust Post #24 | | Junior Member
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With a little bit of digging: apparently NR's mortgages are the collateral against the loan by the BoE.
So if they do go bust, your mortgage will be the property of the BoE so it won't be waived.
Bad luck Neil  | |
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09-14-2007, 01:19 PM
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When banks go bust Post #25 | | Junior Member
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Quote:
Originally posted by bell
I also love the current logic that people are struggling to pay back expensive sub-prime mortgages so as a resuly mortgages may need to become more expensive
...erm hang on, how about being more cautious with who you lend it to. Bloody banks are already making £bn's of profit ffs  | The fact they're being bailed out suggests they're forced to it. And simply writing it off would suggest they'd be in dire straits even faster.
Can't have your cake and eat it too.
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09-14-2007, 01:20 PM
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When banks go bust Post #26 | | Junior Member
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Quote:
Originally posted by Retro:
With a little bit of digging: apparently NR's mortgages are the collateral against the loan by the BoE.
So if they do go bust, your mortgage will be the property of the BoE so it won't be waived.
Bad luck Neil | Don't exactly see the BoE turfing him out of his house.
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09-14-2007, 01:20 PM
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When banks go bust Post #27 | | Junior Member
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Ive got a NR ISA. Go me.
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09-14-2007, 01:20 PM
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When banks go bust Post #28 | | Junior Member
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The Barclays situation was an end of day balancing mistake rather than a we've over stretched ourselves due to changing interest rates situation.
And as had been said, they may take a battering on the stock market but the BoE would not have lent them this money unless they were pretty sure they'd get it back.
If anything it is a good thing that they were lent the money as it is a show of faith in NR.
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09-14-2007, 01:20 PM
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When banks go bust Post #29 | | Junior Member
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Quote:
Originally posted by Fat Bhoy Tim:
<BLOCKQUOTE>Originally posted by Retro:
With a little bit of digging: apparently NR's mortgages are the collateral against the loan by the BoE.
So if they do go bust, your mortgage will be the property of the BoE so it won't be waived.
Bad luck Neil | Don't exactly see the BoE turfing him out of his house. </BLOCKQUOTE>
He was asking if his loan would be waived, not if he might be evicted.
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09-14-2007, 01:21 PM
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When banks go bust Post #30 | | Member
Join Date: Nov 2000
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Quote:
Originally posted by Neil Purvis:
<BLOCKQUOTE>BTW id expect a takeover bid imminent for Northern Rock by one of the big banks. RBS/Natwest is my tip...
| What would that involve as a NR customer with regards to mortgage / savings?
Will everything remain the same, or can they impose their interest fees on all accounts? </BLOCKQUOTE>
I would assume they could change all of those, unless you're still in the initial discounted period of your mortgage?
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