Nationwide buys much of the Dunfermline BS

Former_MSE_Guy

This thread is to discuss the following news story:

Nationwide buys much of the Dunfermline BS

baby_boomer

Excellent news for savers - How can you take seriously a BS which offers kids 0.25%?

Even better news for residential borrowers since the Nationwide BMR is way below the Dunfermline SVR.

Bad news for the taxpayer.

Re the £50K FSCS limit - your own article provides all the answers:

"Savers who had accounts with both the Dunfermline and Nationwide before today's acquisition will have £50,000 of protection in each of their accounts, giving them £100,000 of protection per person. This guarantee applies until a scheduled review of the compensation scheme in September.

Anyone opening a new account with either from today, even if means they have accounts with both societies, will only have one lot of £50,000 protected"

Link to the existing MSE Dunfermline thread which has more informed coverage than any single other UK news source

Guy - Here's a link to the last time you tried to start an "official" Dunfermline thread when the MSE authorities thought we were being overly pessimistic about Dunfermline's prospects on the thread above :rotfl:

D1zzy

MSE_Guy wrote: »

This thread is to discuss the following news story:

Nationwide buys much of the Dunfermline BS

Did they Buy or did they just take it off Gordon's hands? The word being used is "Aquired"- and I 've heard no numbers discussed

D1zzy

Now I've seen some numbers....
Savers owed 2.5 billion
Good Mortgages cover 1 billion
Taxpayer gives Nationwide 1.6billion to cover the short fall
So - as far as I can see -Nationwide did not buy Dunfermline - they took it off Gordons hands & were payed to do so

Former_MSE_Dan

baby_boomer wrote: »

Guy - Here's a link to the last time you tried to start an "official" Dunfermline thread when the MSE authorities thought we were being overly pessimistic about Dunfermline's prospects on the thread above :rotfl:

Hi Baby Boomer

A new thread is being started for every article which goes into the new MSE News service.

We are not trying to direct, or stifle any debate, at all. We in fact want the opposite of that, hence why we have written a news article and invited discussion on this.

Thanks

Dan