Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
Page 1
    • dunstonh
    • By dunstonh 24th Sep 08, 8:33 PM
    • 84,099 Posts
    • 49,089 Thanks
    dunstonh
    • #2
    • 24th Sep 08, 8:33 PM
    • #2
    • 24th Sep 08, 8:33 PM
    There is little chance of any UK retail bank or building society going under.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • bluesue1
    • #3
    • 24th Sep 08, 8:53 PM
    • #3
    • 24th Sep 08, 8:53 PM
    Thanks dunstonh, I just wonder why every time you put on the TV they're banging on about the FSCS and to spead your money around. I know it does make sense, but I've always thought of somewhere like 'The Nationwide' as being a safe haven, and can't imagine it getting into trouble. But these are worrying times.
  • RayWolfe
    • #4
    • 24th Sep 08, 9:39 PM
    • #4
    • 24th Sep 08, 9:39 PM
    Only if you let them be worrying times.
  • fatpig
    • #5
    • 24th Sep 08, 9:52 PM
    • #5
    • 24th Sep 08, 9:52 PM
    They're as safe as Bradford and Bingley. So nothing to worry about
    • vbrindle
    • By vbrindle 24th Sep 08, 10:46 PM
    • 119 Posts
    • 70 Thanks
    vbrindle
    • #6
    • 24th Sep 08, 10:46 PM
    • #6
    • 24th Sep 08, 10:46 PM
    lol @ fatpig

    Seriously though I don't think they'll let any bank in the uk go under because it's the people's money at stake.

    But as Martin did with the Tom, !!!! and Harry Safes on TV tonight, it's prob best to spread your money around.

    Even if you have less than 35k in total I recommend putting money asside somewhere else because even though you're covered by the FSCS it may take time to get the money back, so it's wise to have an emergency fund stashed elsewhere.

    This is the paranoid approach but you never know which way this whole mess is going to go at the moment so it's always wise to have a backup plan.

    If Nationwide have taken over other building society's then it must be in a strong position to do so I'd have thought.

    The problem at the moment is that everyone has got the jitters, even banks. Nobody trusts anyone anymore.
    • Paul_Herring
    • By Paul_Herring 24th Sep 08, 11:39 PM
    • 6,050 Posts
    • 2,750 Thanks
    Paul_Herring
    • #7
    • 24th Sep 08, 11:39 PM
    • #7
    • 24th Sep 08, 11:39 PM
    Thanks dunstonh, I just wonder why every time you put on the TV they're banging on about the FSCS and to spead your money around.
    Originally posted by bluesue1
    Because

    "Don't panic, there's little chance of UK PLC going down the pan"

    is less newsworthy than

    "PANIC!!! THE END OF THE WORLD IS NIGH!!!!"

    An a bit of rear-end-covering, just in case one of the minor companies is left to die.
    Conjugating the verb 'to be":
    o I am humble
    o You are attention seeking
    o She is Nadine Dorries
  • bluesue1
    • #8
    • 24th Sep 08, 11:51 PM
    • #8
    • 24th Sep 08, 11:51 PM
    Because

    "Don't panic, there's little chance of UK PLC going down the pan"

    is less newsworthy than

    "PANIC!!! THE END OF THE WORLD IS NIGH!!!!"

    An a bit of rear-end-covering, just in case one of the minor companies is left to die.
    Originally posted by Paul_Herring


    So do you think the LTSB is safer than the Nationwide?
    • dunstonh
    • By dunstonh 25th Sep 08, 12:03 AM
    • 84,099 Posts
    • 49,089 Thanks
    dunstonh
    • #9
    • 25th Sep 08, 12:03 AM
    • #9
    • 25th Sep 08, 12:03 AM
    So do you think the LTSB is safer than the Nationwide?
    Before the HBOS bid they would be the top, although HSBC could pip them but not much in it. They will be weakened a little if the purchase goes through but there are rumours that the disposal of Scottish Widows, Clerical Medical and Halifax life would take place to replace the capital.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
  • peawack
    Thanks dunstonh, I just wonder why every time you put on the TV they're banging on about the FSCS and to spead your money around. I know it does make sense, but I've always thought of somewhere like 'The Nationwide' as being a safe haven, and can't imagine it getting into trouble. But these are worrying times.
    Originally posted by bluesue1

    Just remember. To worry, you need to give yourself permission ! Don't give it.
    Peter
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

151Posts Today

1,300Users online

Martin's Twitter