Building Society Mergers / takeovers possible windfalls

planteria

PeacefulWaters wrote: »

Building society mergers in good times tended to produce a windfall of c4% of a saver's balance. Not worth my time opening an account with £100.

£100 to c.£1100 (admittedly i held onto the B&B shares for a while) was a 1000% windfall:D

Thrugelmir

planteria wrote: »

but i don't think small windfalls are out of the question in the foreseeable future. and with 'bets' only requiring a protected £100 there isn't much to lose.

You'd be better off taking a punt on some AIM stocks.

Froggitt

A lot of the serious carpetbaggers packed it in a few years ago, having made £10k+ per person in the late 90s. I debagged pretty much everything from my, Mrs Frog and the Tadpoles a few years ago, when it became clear that the building societies left (excepting Nationwide) had squandered 100 years of reserves in just 18 months or so.


The shares I either sold or they went into a "baggers ISA", (run by Govett/AIB) which morphed into a FTSE smaller companies ISA, and I still hold.


Those demutualisations that gave out cash, I spent most of it on wine women and gambling, and squandered the rest.

Gazz12

Thanks for replies

still bit unsure, as conflicting keep and no chance as reserves all gone replies

If reserves are all gone except Nationwide are the rest pointless now

but sounds like I can get definitely get rid of my Britannia and Chelsea ones, so that's a few less AGM notices to get next year !

anyone think any of my others are definitely worth getting rid off

Thrugelmir

As yourself the question when and what was the last Building Society to demutualise?

The financial sector changed in 2008.

talexuser

planteria wrote: »

i may have taken on others, but The Society remains the same society. it hasn't been taken over, and could, in theory, produce a windfall..whereas Britannia and Chelsea Building Societies are no more.

That's why I originally said "or had mergers" which was factually correct, unlike your reply. If you think you are in for some money if it ever merges with anything else, keep on dreaming.

planteria

Gazz12 wrote: »

but sounds like I can get definitely get rid of my Britannia and Chelsea ones, so that's a few less AGM notices to get next year !

as a member of Yorkshire BS, on the face of it you don't need to retain your Chelsea-branded account.

planteria

talexuser wrote: »

..Leeds & Holbeck have already been merged or had mergers so are useless as possible windfalls.

was very clear..and the society still remains an independent Building Society with accumulated reserves, which ever way you spin it.

http://www.leedsbuildingsociety.co.uk/

you may be right re. dreaming of windfalls. i am holding onto passbooks for now, but we will see how things unfold.

talexuser

planteria wrote: »

which ever way you spin it.[

I didn't spin anything. It has had a merger as described in my first post, when you stated incorrectly it has not. Whether you get money out of it in the future doesn't change that. We're just going round in circles now.

planteria

we are, and my response to

talexuser wrote: »

Some of your list, for example Chelsea, Britannia and Leeds & Holbeck have already been merged or had mergers so are useless as possible windfalls.

was a valid one, as Leeds Building Society is still, potentially, the source of a possible windfall, so your advice to Gazz12 was incorrect. sorry if you can't accept that, but i'm sure you'll be ok:)