Become a Nationwide member without "windfall" signaway

cheggers

jw1096 wrote: »

Im going to stick my head above the parapet here - Im a Nationwide employee and will try and answer any questions anyone has. Give me a shout if anyone needs any clarification on anything.

Jo x

Any inside info in Nationwide are going to go Plc or any other future mergers planned??

wombat42_2

I hardly think that if the top brass at Nationwide were planning a demutualisation they would allow this information to leak to the lower echelons of Nationwide, this being highly commerically sensitive. It is more likely that they might spread misinformation to put people off the scent.

Gorgeous_George

I dislike all this carpetbagging stuff. I guess I'll be alone on this site.

When it comes to voting for a building society to become a bank, I think all those who want the bank should choose one of the many that we already have on the high street. Leave the building societies to those of us who choose to borrow/invest with them.

With Birmingham Midshires, I felt as if my building society was stolen by people wanting to make a quick buck. I would not want the same for Britannia or Nationwide.

This country is suffering from the children of Margaret Thatcher, I guess.



GG

bristolleedsfan

Gorgeous_George wrote: »

With Birmingham Midshires, I felt as if my building society was stolen by people wanting to make a quick buck.



GG

think some people need to ask themselves is, whether birmingham midshires in its previous form and some of the other building societies that are now defunct have actually been missed.

With birmingham midshires i felt as if my 100.00 was going to be earning 0.10% gross for an eternity. :eek: while it was sat in BM waiting for a to be done.

can anyone remember whether birmingham midshires copied bristol and west with cash for 2 year members and preference shares for less than 2 year members. :think:

for people who have lost their local friendly building society i can understand them being. :sad:

certainly in 2007, in city centre locations their are too many building societies and/or branches now that more and more people conduct their financial affairs from home imho.

i wonder how many savers who have been loyal to one building society, have had no merger or conversion payouts are :huh: at seeing all those around them getting both merger/conversion payouts and in many cases better savings/current account rates. :think:

MattB_4

roddydogs wrote: »

Yes can you tell me if a long standing (14yrs) NW customer becomes a "signaway" if theyve allowed their a/C to go below £100 for 2 weeks, or not, Thanks

As MarkyMarkD says no you wont. It's you holding the account. What theoretical qualifications (if there are any in addition) would be (such as a min balance at a point in time) nobody can say.

cheggers wrote: »

Any inside info in Nationwide are going to go Plc or any other future mergers planned??

wombat42 wrote: »

I hardly think that if the top brass at Nationwide were planning a demutualisation they would allow this information to leak to the lower echelons of Nationwide, this being highly commerically sensitive. It is more likely that they might spread misinformation to put people off the scent.

Well quite. I think when the whole Portman merger was in it's infancy a very small number of people knew until the day before.

The whole business is under review with the new regime and there are several subsidiaries that could in theory go. I went to an employee 'talk back' just after the Portman merger was announced and they didn't rule out further merger though. But it would be foolish to do so.

BWZN93

cheggers wrote: »

Any inside info in Nationwide are going to go Plc or any other future mergers planned??

As MattB says, very very few people knew about the merger before anything was announced - the first the branch network heard about it was on the day of the official announcement, many of us were called early that morning and told to keep the branches closed till 9.30 while the employees were informed.

The business is going through a hefty review at the moment so it would be inappropriate for us to even speculate at this point as we simply do not know

Jo x

cheggers

Gorgeous_George wrote: »

I dislike all this carpetbagging stuff. I guess I'll be alone on this site.

When it comes to voting for a building society to become a bank, I think all those who want the bank should choose one of the many that we already have on the high street. Leave the building societies to those of us who choose to borrow/invest with them.

With Birmingham Midshires, I felt as if my building society was stolen by people wanting to make a quick buck. I would not want the same for Britannia or Nationwide.



GG

I bet you never gave your Birmingham Midshires windfall back did you though?:rotfl: Likewise I am sure if you got a windfall from Britannia or Nationwide would you decline it?

bristolleedsfan

Gorgeous_George wrote: »

When it comes to voting for a building society to become a bank, I think all those who want the bank should choose one of the many that we already have on the high street. Leave the building societies to those of us who invest with them.

With Birmingham Midshires, I felt as if my building society was stolen by people wanting to make a quick buck. I would not want the same for Britannia




GG

why would anybody want to save with Brittania BS

http://www.britannia.co.uk/c_savings/product/rates/current/savingsacc.html

http://www.britannia.co.uk/society/the_board/exec_directors.html :eek:

Gorgeous_George

cheggers wrote: »

I bet you never gave your Birmingham Midshires windfall back did you though?:rotfl: Likewise I am sure if you got a windfall from Britannia or Nationwide would you decline it?

The answer is No on both counts but I voted against every demutualisation to date. I remortgaged away from Birmingham Midshires at the first opportunity despite having been with them (from the Birmingham and Bridgewater days) for over 20 years.

If I had wanted a mortgage from a bank, I would have chosen one.



GG

MarkyMarkD

A good article here about Nationwide's supposed mutual benefits. Agrees with my view that people support Nationwide for woolly reasons rather than because they are actually good value.

The article goes a bit soft when it relies on anecdotal evidence from a mortgage broker that Nationwide are "usually good value". Not sure why the best buy review approach failed them there?

http://www.fool.co.uk/news/your-money/manage-your-finances/2007/08/07/nationwide-vs-the-rest.aspx?source=ioowftxt0010011