HBOS / LLO TSB Merger - Opinions

minimike2

See :
http://news.bbc.co.uk/1/hi/business/7621151.stm


I personally think its a scandal.

Noz

In what manner?

minimike2

Two huge companies like that getting together.....talk about lack of competition. HBOS are using the unfounded talks of thier instability to cash in on being able to make such a deal appear viable.

I can assure you also, that there would be hundreds of branch closures and redundencies as a result. We already have a situation from the Lloyds / TSB merger where you have tow branches within touching distance (I know of one area where there are two branches opposite each other), so with all the BOS / Halifax branches thrown into that as well, you could see areas with not one, but two branch closures.


Its wrong.


On the other hand, if it meant getting rid of C&G in favour of HBOS mortgages then that wouldnt be a bad thing.

switchingriver

my concerns are what is goi8ng to happen to my halifax mortgage

minimike2

switchingriver wrote: »

my concerns are what is goi8ng to happen to my halifax mortgage

Probably nothing.

Tigger4

switchingriver wrote: »

my concerns are what is goi8ng to happen to my halifax mortgage

That's my concern too.

Marie

Noz

minimike2 wrote: »

Probably nothing.

The mortgage is an asset of the business so I would expect there to be very little impact.

CraigBR

I have a mortgage accepted by Halifax. What will happen if they Merge. Will it still be given?

straddie

minimike2 wrote: »

HBOS are using the unfounded talks of thier instability to cash in on being able to make such a deal appear viable.

Not sure you can describe it as cashing in - considering the plummet in share prices over the last few days, the business will be going for much less than it would have done a week or so ago, even though the Lloyds offer is above the current share price. It's more a damage limitation exercise really, acting now to tie up a deal while their creditors still have some confidence, before that confidence goes and its too late ala Lehman Brothers.

I also imagine there's huge pressure on Lloyds considering their aborted move for Northern Rock just before their collapse; had they gone ahead with that move, the credit crunch might never have got to the state that it has, in this country at least.

nimpoppy

Bit concerned about our mortgage too. Just had it approved and waiting for our mortgage offer. Is this still goign to happen!!!!

emmaBZ

hi we are with halifax and got a agreed rate for 5 yr fixed....to start nov 1st, was going to borrow extra on top, ( luckily we do have plenty of equity ) hope this doesnt affect us.....:o