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FSCS - savings/loans and debts with same institution?
markdeb04
Posts: 3 Newbie
The FSCS rule dictates that if you have debts such as loans, mortgages with the same institution where your savings are, then these debts will be subtracted from the savings before compensation is offered in the event of the Bank crashing. What if the debt is much more than the savings i.e I have a mortgage of £82k and savings of £40k - what would happen in this situation? Thanks 
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