Nationwide

MrOrchard

Is this still considered "safe" as a building society or should i withdraw every penny I have an pump it into NS&I?

All clever advice warmly received.

ian-d

I'd say Nationwide are in a strong position. They recently bought up a couple of other banks, and were never silly with lending so should be absolutely fine. I have confidence in them.

However, as always recommended, don't have more than £50k with one institution unless you absolutely have to, just to lessen the risk.

MadSage

They do look pretty safe at the moment - about as safe as HBOS and RBS. See my earlier post for a comparison:

http://forums.moneysavingexpert.com/showthread.html?p=14830681

Credit ratings look pretty good too:

http://nationwide.co.uk/investorrelations/credit-ratings/default.htm

apt

I would say you are fairly safe with the great majority of British building societies. They'll have to face some problems in the next few years with rising unemployment and falling house prices increasing mortgage defaults. But they got through the recession of the early 1990s and they'll get through this one too. If one or two can't cope they'll be taken-over - without windfall payments, but with no losses to savers and borrowers.

nicko33

ian-d wrote: »

They recently bought up a couple of other banks,

presumably you mean the tiny (in comparison) Cheshire and Derbyshire building societies.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4701719.ece