quick question

ktmman

I have fixed bonds with hbos/BM not maturing till next year, over the 50k limit , what can I do , should I do anything , are all sums protected now HM gment are on board...should I stop panicking????

isofa

If they don't allow for early withdrawal there is absolutely nothing you can do at all.

It's a calculated risk, and I'd really not worry. HBOS will be looked after one way or another, the government won't let depositors lose out at the moment, after all, they are bailing out icelandic accounts!

But after they have matured you might want to think about spreading the money under the 50K limit a bit.

Stavros_3

ktmman wrote: »

I have fixed bonds with hbos/BM not maturing till next year, over the 50k limit , what can I do , should I do anything , are all sums protected now HM gment are on board...should I stop panicking????

My brother is a bank manager with Lloyds TSB, all he is doing at the mo is working on the take-over.

opinions4u

Officially the first £50k is protected.

In reality, Lloyds are taking HBOS on as a going concern, the government is recapitalising them and guaranteeing wholesale funding, and if the merger with Lloyds fails would no doubt nationalise them before anybody lost money.

Sleep well with this sort of backing.

ktmman

thanks folks , its been worrying me , but the thought of moving to other banks, if it was possible , was a task I didnt fancy...hope all goes well with the merger.

Neil_G_2

Hi ktmman – I work on behalf of Lloyds TSB and having read your original post I wanted to direct you to the section of the Lloyds TSB website which has recently been set up to answer consumers’ questions about the proposed acquisition of HBOS: www.lloydstsb.com/hbosacquisition. Whilst I can’t specifically answer your query, I hope it gives an overview of the situation. Neil

kinsington

You can always contact HBOS and ask if early withdrawal from your contract is possible. In some cases there is a penalty, but you can then make the decision based on the facts.