BM 4.05% fixed for 2 years: good deal?

Ifts

alanwsg wrote: »

The Shawbrook bank is a good deal, but no monthly interest. Also, I'm a bit wary of it as I've never heard of them before. I'll think about it.

Some information about Shawbrook Bank in these links:

Who are Shawbrook/Whiteaway Laidlaw Bank?

More info here: https://www.shawbrook.co.uk/about-us/

Article on Shawbrook Bank from thisismoney: http://www.thisismoney.co.uk/money/s...umber-one.html

joerugby

MoneySaverLog wrote: »

I also believe the Birmingham Midshires is really what the AA are and they have just tagged onto a Building Society. After all the AA seem to have fingers in many pies these days and have come a long way since the age of breakdown recovery only.

The AA are owned by Acromas Holdings who also own Saga. The Group’s principal activity is the sale of branded goods and services through its AA and Saga subsidiaries

The group lost £512 million last year arising partly from rolled up interest charges (at 16% per annum) from its private equity shareholders.

As at January 31 2011 it had around £6.9 billion of assets and £8.9 billion of loans and other liabilities, i.e. negative equity of just over £2 billion.

Included in its assets was just over £5 billion of goodwill, i.e. amounts paid in excess of book value for companies Acromas has acquired.

Don't let anybody tell you that the AA and Saga are some kind of benevolent society with their members' interests at heart. They are one large highly geared financial services machine which is there to serve its shareholders.

opinions4u

joerugby wrote: »

The AA are owned by Acromas Holdings who also own Saga. The Group’s principal activity is the sale of branded goods and services through its AA and Saga subsidiaries

The group lost £512 million last year arising partly from rolled up interest charges (at 16% per annum) from its private equity shareholders.

As at January 31 2011 it had around £6.9 billion of assets and £8.9 billion of loans and other liabilities, i.e. negative equity of just over £2 billion.

Included in its assets was just over £5 billion of goodwill, i.e. amounts paid in excess of book value for companies Acromas has acquired.

Don't let anybody tell you that the AA and Saga are some kind of benevolent society with their members' interests at heart. They are one large highly geared financial services machine which is there to serve its shareholders.

But, when all is said and done, with both Saga and AA you are simply buying a Birmingham Midshires Savings product which has been white labelled.

So if you're prone to worry, the finances of Lloyds Banking Group are more important to you than Acromas Holdings.