Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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Has their being declared bankrupt etc effected anyone on here?
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Why would it affect anyone? The people queuing to withdraw their money just typify how stupid the public can be.
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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quote:
Originally posted by Marc
Why would it affect anyone? The people queuing to withdraw their money just typify how stupid the public can be.
So you'd leave your money in there would you?
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Of course I would. your money is insured up to 30k.
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Aaron
Member
Registered: 9th Aug 04
Location: Cottingham, East Riding
User status: Offline
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Is that right?
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Some people had well in excess of that though.
Plus the actual return is all of the first £2000 and 90% of the next £33k.
So if you have £35k you get £31700 back, losing you £3300. Everything over £35k I would imagine is lost forever as it is outside the compensation scheme.
Source - http://news.bbc.co.uk/1/hi/business/6994746.stm
My reckoning is that it will have knock on effects in how close to the base rate mortgage lenders will go, which is something to see in the future. As with all of this though, the market is still fairly competitive between lenders, and I can't see the FSA entertaining any sort of oligopolistic behaviour which harms consumers.
[Edited on 16-09-2007 by Ian]
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Do you think the people shown in the news footage had large investments though? I think not!
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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suely they should of saw this coming.. any body now how this will effect peoplesmortgages? or will some big rich cunts just take it over and reap the rewards
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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They are NOT bankrupt, they just needed some liquid funds
Everyone taking thei money out will bankrupt them though
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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I think people shoukd go and open an account with them. 
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Robin
Premium Member
Registered: 7th Jan 04
Location: Northants Drives: Clio 182 Cup
User status: Offline
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quote:
Originally posted by Marc
I think people shoukd go and open an account with them.
If you can get to the counter
I think the person you dealt with would faint
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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Yeah, would be so funny, walk in with all your savings
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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I was considering buying NR shares.
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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I thought that during the news
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Shane
Member
Registered: 10th Jan 04
User status: Offline
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thats a very good idea ian, they arnt bankrupt yet are they? as far as im aware all they have really done is borrow money from the bank of england, and people have just taken it the wrong way thinking they are going down the pan,
they are a high risk lender and are finding it hard t recover the monies that they have lent
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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quote:
Originally posted by Ian
I was considering buying NR shares.
I was thinking this too. Although personally i'd only buy what i could afford to lose.
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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if they do go bankrupt how will that affect my mortgage?
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K17STY
Member
Registered: 13th Dec 02
Location: West Lothian
User status: Offline
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they wont go bankrupt, they will be bought over before it gets to that stage.
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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damn it! why dont they just give up and go away so i dont have to pay my mortgage
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Are you with Northern Rock Mark?
I need to sort mine out in December 
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K17STY
Member
Registered: 13th Dec 02
Location: West Lothian
User status: Offline
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well they can do it after 2 weeks time we get our dosh on the 25th I hope! 
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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yeah andrew got my mortgage with them
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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and my loan but that will be payed off next month
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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you'd still have to pay it if they went bump (which wont happen)
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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If they go bust (which they won't). Another lender will buy their mortgages off them.
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