Northern Rock

CharliesAngel

TTMCMschine wrote: »

NOOOoooooooooo!!!!

If everyone turned up tomorrow & tried to withdraw their money there'd be a run on the bank & we'd ALL be totally foooooookkkkeeeddd.

:rotfl: Couldn't have put it better myself....

climbgirl

From the Guardian:

What will it mean for Northern Rock depositors?
Depositors' money is safe. The Bank of England intervention was partly to ensure Northern Rock can operate as normal. It is also hoped the move will reassure Northern Rock customers but if they do decide to withdraw their money Northern Rock should have the funds available.
Even in the remote chance that the bank were to go bust, there is a deposit protection facility operated by the Financial Services Compensation Scheme, an independent body set up under the Financial Services Authority, to offer protection to savers for a proportion of their cash.

What sort of compensation would I receive?
For depositors it is a maximum £31,700 per person; for investments it is a limit of £48,000 and for mortgage advice and arranging it is £48,000 per person.


What does it mean for Northern Rock mortgage holders?
Not very much. Mortgage holders will still have to keep up their payments. There is a chance the interest rate could rise for those not on a fixed-rate deal but most mortgage rates are rising anyway. But the bank would not recall any mortgages.

archer85

Conor wrote: »

Did it ever occur to you that a great deal of the trouble they're in is because of people who owe them money welching on the deal? You know, people like you?

Just pointing out that people in glass houses and all that...

I just wonder how long you'd sit around doing nothing if someone owed you £1000's and tried to pay you a few quid a week.

A very ignorant quote may i say and quite frankly i think the above person really needs to take a step back and realise there are people in genuine circumstances that turn to debt managment plans until there situation gets better. Every one is entitled to there opinion but that kind of personal attack on those in a DMP is a very cheap blow indeed !!! The reason why Northern rock are in such hot water is due to there borrowing antics so please for all ours sakes get your facts straight. Thankyou :mad::rotfl:

pania

absolutely fantastic first post Archer!! and welcome to the boards! xx

pania

Conor wrote: »

Did it ever occur to you that a great deal of the trouble they're in is because of people who owe them money welching on the deal? You know, people like you?

Just pointing out that people in glass houses and all that...

I just wonder how long you'd sit around doing nothing if someone owed you £1000's and tried to pay you a few quid a week.

you know what i considered posting some very intellectual reply about how it is so nice that you are currrently in a debt free situation, and that i hope one day you don't befall a horrendous incident that changes that fact and if you do you'll expect a little more compassion than you have shown people currently in that situation by the post above.

But you know what i can't be bothered, so for now i'll just say

BOG OFF TOSS!R !!!!!:mad: :mad:

archer85

pania wrote: »

absolutely fantastic first post Archer!! and welcome to the boards! xx

:beer:I aim to please he he !! thankyou for the warm welcome

pania

:hello: :beer: xx

hooters

I wish the BoE helped me out when I was in trouble.

hooters

NR deserve all they get apart from the help they are recieving. They are one of the lenders that have conned first time buyers into a manageable mortgage, yet penalise them heavily when they remortgage with another lender.

pania

....and aim to put them into negative equity with a 125% mortgage before they even start. As a broker i can say they used to be a really good lender until about 6 months ago. it's a shame but i think they've learnt their lesson.