Northen Rock [Merged Threads]

steady__eddie

Speaking as someone on the other side of the fence, (shareholder not customer), I have found the last week to be an excellent time for Northern Rock. The fluctuations in share price on an almost predictable daily basis have reaped me quite a few bob. I'm on holiday this month so I have the opportunity to monitor the price every couple of hours or so. The price fall this morning did surprise me a tad but there is usually some instability first thing. It is recovering as I type so it looks like it could be another good day.
In the midst of confusion, there is profit.

Geoffo_M

PauliPauli wrote: »

What do people here think on risk of having more then the £33k saved with them in terms of latest stock market jitters and their exposure to risk?

The danger limit is £35k. The Financial Service Compensation Scheme guarantees 100% on first £2k and 90% on next £33k - a total of £31.7k. You lose everything above £35k

free4440273

Geoffo_M wrote: »

The danger limit is £35k. The Financial Service Compensation Scheme guarantees 100% on first £2k and 90% on next £33k - a total of £31.7k. You lose everything above £35k

sorry if this is a silly question: would that even apply to savings one has in a 'reputable' society such as Nationwide? If so, I am DEEPLY worried

bristolleedsfan

free4440273 wrote: »

sorry if this is a silly question: would that even apply to savings one has in a 'reputable' society such as Nationwide? If so, I am DEEPLY worried

northern rock are as "reputable" as nationwide BS, most lenders have been guilty in the past of being irresponsible when it comes to lending, eg abbey was one of first to lend 5x income. Many lenders have made bad lending decisions in the past.


"Nationwide Building Society is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. You may be entitled to compensation from the Scheme if we cannot meet our obligations. In relation to savings accounts, payments under the Scheme are limited to a maximum of £31,700, that is 100% of the first £2,000 of a savers total savings and 90% of the next £33,000. In relation to investment accounts, payments under the Scheme are limited to a maximum of £48,000, that is 100% of the first £30,000 and 90% of the next £20,000. Each individual in a joint account is eligible to receive compensation up to the limit. Further information about the Scheme is available from the Financial Services Compensation Scheme."

free4440273

thanks BLF, so basically our money is not 'safe' anywhere. oh well, gold bullion it is then:rolleyes:

payless

steady__eddie wrote: »

Speaking as someone on the other side of the fence, (shareholder not customer), I have found the last week to be an excellent time for Northern Rock. The fluctuations in share price on an almost predictable daily basis have reaped me quite a few bob. I'm on holiday this month so I have the opportunity to monitor the price every couple of hours or so. The price fall this morning did surprise me a tad but there is usually some instability first thing. It is recovering as I type so it looks like it could be another good day.
In the midst of confusion, there is profit.

If you have made money on NR in last week I would suggest you are a sharetrader rather than a shareholder ...
not saying thats wrong, just different

mystic_trev

steady__eddie wrote: »

. It is recovering as I type so it looks like it could be another good day.
In the midst of confusion, there is profit.

Down over 4% Personally I wouldn't touch NRK It's a 'falling knife' situation!

Moorepart

kittie wrote: »

we are expecting another profit warming from northern rock. Their shares have halved since feb. They had another massive fall yesterday and there are sell warnings all over the place. Personally I removed my cash from them yesterday and it is in transit to smile and from there to sainsbury savings

Northern Rockk may have a derivative problem. If they do, It'll never recover and you'll get burned.

[Deleted User]

I`ll get burned moorepart?

I sold all my stock holdings of NRK two days ago and I have moved my savings out!!!

steady__eddie

"If you have made money on NR in last week I would suggest you are a sharetrader rather than a shareholder ...
not saying thats wrong, just different"

Being a novice at this game and an August only trader, I wasn't aware of the difference !

"Down over 4% Personally I wouldn't touch NRK It's a 'falling knife' situation!"

Fortunately for me, I must have caught it by the handle, just sold them, again, only netted two hundred and seventy odd today. This takes me back to the two week accounting periods when they sent you a cheque for the difference and you didn't have to shell out upfront, happy days.
I wonder what tomorrow holds ?