Mortgage with the Dunfermline BS

JakieD

Hi

We have a mortgage with the Dunfermline Building Society - its a five year fixed rate from March 2007. Does anyone know what is likely to happen to the Dunfermline and what effect will this have on my mortgage? I am really worried as I am in between temp jobs at the moment.

Any help would be appreciated.

Thanks
JakieD

maninthestreet

You owe them money, so you can stop worrying. The time to worry is when a BS or Bank goes bust owing you money.

bainy

Well my guess is that the savings book etc will be sold off in a fire sale, supposed to be Nationwide and Yorkshire Building Society are interested and the mortgage and bad debt book will be taken over by the government as they did with Bradford & Bingley. As for your mortgage you'll continue on your 5 year fixed rate then when it ends you'll go onto the SVR at that time unless you move to another bank/building society.Thats what happened to Bradford & Bingley who fell by the wayside in similar circumstances.

payless

Nationwide to take it all on ( except the social housing element , and some commercial lending which will go to a "govt scheme" )