How Safe are the UK Building societies

isofa

Every few days all sorts of similar threads arrive "What shall I do with xyz amount, savings certs vs savings, which ISA, best fixed rate bond" , I cannot remember how many times I link people to the original thread, I guess once the topics are not shown on p1, people post rather than read.

The times I type the same advice...

Oh well, as long as people learn!

PBA

Exeterexile wrote: »

Surely they have been applying similar lending criteria - Are any of the UK Building Societies likely to be in danger of folding?

To answer the original point, they haven't been applying similar lending criteria because mortgages are more tightly regulated in the UK than the USA. In the USA brokers were arranging loans with low introductory rates which borrowers would have no chance of affording when the rate went back up. If a UK broker/lender arranged even one loan without properly establishing affordability the FSA would be all over them.

Also, if one of the smaller building societies/banks was about to fail, it's more likely they'd be bought out by a larger rival rather than totally go bust, so chances are you wouldn't lose your money anyway.

moonrakerz

FelOn wrote: »

Just be carefull of Northern Rock and Barclays, they won't go bust but their share price will [has] take[n] a hit.

Northern Rock and Barclays are both plcs, NOT Building Societies - that's why they have shares !

The last Building Society to go bust was the Liberator in 1892.

dougs

and now there's another one :rotfl:

[Deleted User]

Its panic trolling

molly_mandy_2

Why do new people, who are making their first post, have to be attacked?

It takes a while to get to know these boards. I have found them extremely useful many times. But I am still learning too.

To get a nasty reply from someone who is a regular is just not nice at any time and especially not when you make your first post.

Everyone has to do a 'first post' and be a newbie at some stage.

We should all remember that and make new people welcome.

Just my opinion, of course.

[Deleted User]

Because they change names after a few posts so that their trolling can be recognised as trolling.

I bet its you molly, i bet the troll is you, that why your under a bridge.

molly_mandy_2

Errrrrr.... what?

Actually I was referring to Rebecca's post in reply to Exeterexile's first post.

But hey, if you want to attack me now, and it makes you feel good....ok

By the way I've no idea what you mean by 'under a bridge' but I'm not here to argue.

callansdad

ManAtHome wrote: »

Isn't a slow response from the fire brigade illegal..?

slightly off topic i know, but many members of the public don't realise that the fire service do not have any legal response times to adhere to nowadays,

they were removed a couple of years ago because we are now a 'modern' service.

the only obligation we have is to turn up at some point !!!!!:eek:

i could go on and on but i'll only get annoyed.

Geoffo_M

molly_mandy wrote: »

Why do new people, who are making their first post, have to be attacked?

It takes a while to get to know these boards. I have found them extremely useful many times. But I am still learning too.

To get a nasty reply from someone who is a regular is just not nice at any time and especially not when you make your first post.

Everyone has to do a 'first post' and be a newbie at some stage.

We should all remember that and make new people welcome.

Just my opinion, of course.

I'm with you Molly. Some of the posts on here have been very unwelcoming. We all have different levels of knowledge and expertise in financial matters and it's good to learn from one another

Geoff