Mr Mortgage's Guide to the TRUTH

WTF?_2

chrisandanne wrote: »

Or NS & I...I checked them out yesterday...lousy rates.

I'm with the Yorkshire BS at 6.5 and 6.3.....But we all know what happens when you're too greedy don't we !!!!. Perhaps it's time to accept less.

It looks like Man U may be losing their sponsor.....this may impact a bit more on the collective conciesness (sp ?) than if it was just a mere major insurance company...and anyway it's in America..so it won't affect us here.
DOH !!!.

NS&I make a lot of sense if you are paying higher rate tax. Plus of course they are the only rock solid 'bank' out there. They're not really a bank - the government is just selling its bonds to you through NS&I.

As such, it is backed by the government's ability to tax the cr4p out of the general population or in the extreme, print money to pay you.

Doesn't get any safer than that.

neas

its interest rates are pretty pathetic tho . I got a 10% regular saver with HBOS at the mo... drip feeding into it and my ISA there.

Want to move ISA i guess.. do northern rock do ISAs? :P

slipthru

neas wrote: »

its interest rates are pretty pathetic tho . I got a 10% regular saver with HBOS at the mo... drip feeding into it and my ISA there.

Want to move ISA i guess.. do northern rock do ISAs? :P

Yea at a little more than 6% i think.

WTF?_2

chucky wrote: »

!!!!!! what job do you do?

i'm intrigued

I'd rather not give too many personal details out but I did go through almost a decade of being a contractor abroad with a great income which is when I made most of my savings (had zero savings before that).

Luckily I didn't blow it all (didn't really try too hard to save either, which I'm kicking myself about now as I could probably have saved 20-30% more with little effort or impact on lifestyle) and resisted the urge to get into the housing market a couple of years back.

Currently I'm in a job that pays reasonably well and allows me to save a decent amount every month.


I'm not interested in massive returns on my savings - I just want to protect them from inflation and/or bank busts and use them to get into the housing market at the right time.

Dithering_Dad

HBOS is the next to go. Have a look at their share price. You don't get drops like that without an underlying reason. Their CEO is in crisis talks right now.

If you have money in the Halifax group, then get it shifted. Having a guarantee is one thing, but having to wait weeks for your money is another.

dudleyboy

Dithering_Dad wrote: »

HBOS is the next to go. Have a look at their share price. You don't get drops like that without an underlying reason. Their CEO is in crisis talks right now.

If you have money in the Halifax group, then get it shifted. Having a guarantee is one thing, but having to wait weeks for your money is another.

Like neas, I'm putting £500 pcm (the max allowed) into the Halifax 10% regular saver and I'm a little concerned.

DD, do you really think that HBOS is the next to go?

As you say, a guarantee is one thing - but how long will it actually take for any of us to get our money back if our bank goes bust?

chrisandanne

I have all three grandchildrens accounts there c4k.....no rush for the money if they go bust...but hassle claiming etc.

I'll leave it, but if it were a lot and I might need some I WOULD be worried.

The shares have gone down another 24% today on top of 20% yesterday !!.

People are going to wake up to what's going on very soon. Although David Buek (?) said on sky bbc news today 'a few months with a lot of pain and recovery by May' This is what people will believe as it's what they want to believe....I personally don't believe it. A x

Dithering_Dad

I worked there on a contract and the share price was 850p. It's now down to less than 200p. Do a goodle on HBOS Share Price. They're saying that the market is losing confidence and as soon as that happens the other banks will stop lending to them. Just as happened to NR. The share price drop is also mirroring Northern Crock.

The only money I have in there now is £1400 to keep my bills paid.

Interesting article here: http://www.guardian.co.uk/business/marketforceslive/2008/sep/16/hbosbusiness.icap

The share price is down to 171.5p a drop of 26.24% today.

Pobby

I have about 13k in cash ISAs there. Hmmm not quite sure what to do. I don`t need the cash right now.

Dithering_Dad

You'll be fine. It's only a prob if you have more than £35k or need the money quickly to pay bills and such.

Have a look at the Savings & Investing board - there is an interesting HBOS shares thread on-going.