Northen Rock [Merged Threads]

xanadu2

Northern Rock – shares and an equity release mortgage.

Like a lot of other people I was delighted ten years ago, when as a reward for having a little mortgage with Northern Rock, I was given shares worth much more than I expected. I sold 100 shares, but kept 400, which I regarded as a good investment, so never liked to cash them in.

Just a few days ago, I decided I could do with selling my shares to finance an important purchase. I only thought about it. I didn’t have time to do anything about it. Next day – we know what happened!

My inclination is not to sell shares for so much less than they were previously worth, but to sit it out, because I can finance my purchase by other means, and wait for Northern Rock to recover.

Also, when I moved house four years ago, the old mortgage was paid off, but I took out equity release with Northern Rock. I forget the exact amount I borrowed, but I understand that no interest is payable in my lifetime, but that Northern Rock will claim the house after my death. This is the most wonderful home I have ever had, a total contrast to its depressing predecessor. I assume my house is completely safe.

What do you think, please?

dunstonh

Purch, get them on to m1 or m4 money supply and see how they handle that!

Ivan_Konstantinov

paid in a cheque today for GBP287.00 & only 2 peeps in front of me :j

ramborai1987

yant1 if you think NR is really going to go bust then why are traders pumping in millions????

hxxp://www.lse.co.uk/ShareTrades.asp?shareprice=NRK&share=nthnrock

i mean that was only in the last 1/2 hour but before that there were a few big ones like a 50m trade.

Now if people really think they are going to go bankrupt then they wouldnt be pumping in these millions.

Investors with that amount of money dont go to financial advisors, they own the financial advisor. and they wont be playin roulette with a fully loaded clip, they done their schoolwork.

alared

Their website is still down,this is hardly the way to inspire confidence.

[Deleted User]

ramborai1987 wrote: »

yant1 if you think NR is really going to go bust then why are traders pumping in millions????

hxxp://www.lse.co.uk/ShareTrades.asp?shareprice=NRK&share=nthnrock

i mean that was only in the last 1/2 hour but before that there were a few big ones like a 50m trade.

Now if people really think they are going to go bankrupt then they wouldnt be pumping in these millions.

Investors with that amount of money dont go to financial advisors, they own the financial advisor. and they wont be playin roulette with a fully loaded clip, they done their schoolwork.

Did you ever think that those might be buybacks from shortsales and leveraged spreadbets.

lartin_mewis

I don't think the Execs at NR are doing a good job at instilling confidence in the Company

alared

Well done

You must be the bravest man in the country or the daftest.

caveman38

Questions to you guys in the know.
If NR are aquired by another institution. Would all savings be safe and worth 100% what they are now.
If NR were to go under with no buyout or assistance. Would the FSA safety net return all my £30K or £27.2K (by my calculations)

ceebeeby

I've read Martin's news update ... our NR mortgage which is variable rate discounted to BoE rate is due to end in June next year. Should we sit tight for the time being (watchful waiting) ....?