Probate and protected savings limit

Anna5

I am waiting for probate to be granted on my parents estate, they both died within a short time of each other. It is a very complicated and drawn out process. They had several bank accounts, shares and investments all of which are frozen until probate is granted.
Several accounts are well in excess of the £35000 limit including a Bradford and Bingley Account.
I cannot move the money and spread the risk. Please can anyone advise me as to whether these accounts are protected for the whole amount?

There must be other people in this same and very worrying position.
Many thanks.

Wolf_Man

Frozen is frozen Anna, but what are the real chances that you are going to lose any money? B+B is now one of the safest places for depositors.

The £35k limit is going to go up to £50k any day now as well, but even on amounts higher than that will the Gov let a bank go down? Very unlikely IMHO.

Having lost your parents, I understand that the last thing you need right now is worries about this.

isofa

Totally agree with Wolf Man, don't worry Anna5, it's a terrible time, but the chance of you losing any money is extremely minute, hasn't happened so far: NR, HBOS BB were in a total mess, but no one has, or will lose any deposits.