Ok, first Northern Rock - who next?!

alared

John Major's "family values"

Can you imagine standing up in the commons, answering PM questions, knowing that later on that night you were going to pull down Edwina`s knickers

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the mind boggles!

No wonder people don`t believe politicians when they say anything.

karatedragon

I think I am a plonker. If I had money with the Northern Rock I would be taking it out and going elsewhere.

Someone said it is "a well run business". So well run then they end up in this mess.

One lesson that should be learnt here is perhaps we should go back to basics where lending is concerned. Instead of all this "mortgage in an instant" rubbish we shold go back to how my Dad obtained a mortgage. Apparently they were funded by savers and not by money markets. He told me today he had to be with his Building Society for a number of years before he could even contemplate applying for a mortgage. He also had to have a largeish deposit and be interviewed by the manager who went over his credentials and ability to pay. Now its all some dumb arsed computer making the decisions.

I SAY BACK TO BASICS.... BACK TO BASICS.... WHAT DO I SAY??? BACK TO BASICS!

dougs

alared wrote: »

knowing that later on that night you were going to pull down Edwina`s knickers

not an image I want to dwell on :eek:

Ivan_Konstantinov

alared wrote: »

John Major's "family values"

Can you imagine standing up in the commons, answering PM questions, knowing that later on that night you were going to pull down Edwina`s knickers

i would do that,she is very SEXY lady :T

MarkyMarkD

HankMcSpank wrote: »

thing is the likes of NR (& many others) are always doing the old existing customers over, by only offering the better rates to new savers - disloyal in my books.

Why then should the small guy not have his moment in the sun & 'do the NR over' & extract his dosh swiftly in their moment of need?

I don't have any savings with them, but if I did, they'd be extracted in short order making sure I got in "oh, so you want to hng on to my money? Sorry but this money is only available for brand new banks only!" Chortle.

I'm not aware that NR adopted a "brand new customers only" approach at all. Do you have some evidence to support your assertion or was it just a desperate attempt to seem funny?

HankMcSpank

MarkyMarkD wrote: »

I'm not aware that NR adopted a "brand new customers only" approach at all. Do you have some evidence to support your assertion or was it just a desperate attempt to seem funny?

My oh my ....."evidence", "assertion" - I bet you're a right wheeze to have a pint with?!

The NR might not advertise 'brand new customers only' but what do you think the use of 'bonus' introductory rates are about? WAKE UP AT THE BACK - bonus introductory rates simply reward new money coming in, then after the bonus period expires a customer is put on the standard rate (which by & large ...sucks). Therefore new customers get say 6 months on a good rate, then they become an existing customer - to be given a worse deal.

A one minute google revealed this related article (though it was hard to pick it out due to the plethora of NR news stories that abound right now)....

http://www.moneyweek.com/file/2111/savings.html

"With interest rates on the rise, savings institutions are boasting about the great rates they are offering, says Liz Dolan in The Sunday Telegraph. Take Northern Rock’s 5.01% rate. Sounds great, doesn’t it? But there’s a problem that’s only made clear in the small print. For starters, this rate includes a whacking ‘bonus’ worth 0.7%, which disappears after six months. Worse still, the bank goes on to say that the annual interest rate on the account is guaranteed to be "no lower than 0.5% below the UK bank base rate". So there’s nothing to prevent Northern Rock cutting the rate to 3.75% whenever it likes. Northern Rock is not alone in advertising headline rates that make little long-term sense"

No further questions m'lord. I rest my case.

Like I say - ditch the NR...they had it coming to 'em.

bristolleedsfan

interesting article and links here

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=482173&in_page_id=1766&ito=1490

bristolleedsfan

HankMcSpank wrote: »

I've scoured the press but I'm surprised there don't seem to be any stories about other banks/building societies that might be in a similarly precarious position to the Northern Rock.

I've heard snippets here & there that the Bradford & Bingley, Alliance & Leicester are in a similar funding situation - ie they get their funds from the money markets - as opposed to retail - (& possibly Barclays)...but is anyone here clued up enough to comment?

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=482173&in_page_id=1766&ito=1490