Abbey Bank - risk?

realaledrinker

Sapphire wrote: »

I do not want to put my savings into the Indian bank (don't trust it) or the Icelandic one (whaling issues).

I sympathise having similar issues in finding a best buy account which fits my lifestyle:


ICICI
Don’t like curry

Sainsbury
Private equity target – tax evasion

Icesave
Can’t stand Bjork

Anglo Irish Bank
Can’t stand Guinness

Principality BS
Sheep & wellies. No thanks

Bradford & Bingley
Tykes.

Birmingham & Midshires
Don’t like the accent

BMW Finance (Newcastle BS)
Who won the war then

keeperbear

ferox666 wrote: »

I don't understand why this crash is happening...will the bank not get the house when it's repossessed? If you can't pay your mortgage the lender can take your house back and resell it I thought??? Hope someone can explain

As one point US mortgage lenders were granting mortgages to anyone, with absolutely no proof of income. As anyone could get a mortgage, real estate prices boomed far above their realistic values in certain areas.

isofa

You could add the BCCI Bank collapse to the Barings one, but again it's not a straightforward retail bank either!

If you are worried, you can "protect" yourself a little by spreading your savings between more accounts. But many just take the "risk" and put a lot of money in the best paying account...

Jonbvn

realaledrinker wrote: »

I sympathise having similar issues in finding a best buy account which fits my lifestyle:


ICICI
Don’t like curry

Sainsbury
Private equity target – tax evasion

Icesave
Can’t stand Bjork

Anglo Irish Bank
Can’t stand Guinness

Principality BS
Sheep & wellies. No thanks

Bradford & Bingley
Tykes.

Birmingham & Midshires
Don’t like the accent

BMW Finance (Newcastle BS)
Who won the war then

You forgot HSBC:
Don't like Chinese

purch

I don't understand why this crash is happening...will the bank not get the house when it's repossessed?

....what use is a House to a Bank if it can't realise the asset ??

The 'crash' is happening in the US because property prices have collapsed and are still collapsing.....the Banks are repossesing real estate by the truck load and can't sell it on...

People still seem to have either very short or very selective memories when it comes to property...

Just ten years ago ( 1997 ) if you walked in to an average estate agent you ould find their books were virtually empty of property to sell, or buyers to buy...( and a despressed and poor agent sitting there staring at the walls )the property crash was 3 or 4 years over by then but still the market couldn't recover much due to lack of confidence.

It will happen again some day......

P.S. The chances of Banco de Santander going bust are miniscule.....

rick2000

purch wrote: »

.

P.S. The chances of Banco de Santander going bust are miniscule.....

i hope they have not invested too much in te american mortgage market....

Faz

Yes as Abbey is owned by Banco Santander I would highly doubt the need for any concern.