Safest Bank in the event of a property crash

nickf23

Hi there moneysavers :wave: I've been reading the forum for a few days now and have learned lots of excellent tips but this is my first post Was wondering if this financial chaos continues and there is a major american style property crash which uk banks are least exposed to the UK property market a al northern rock? In other words which UK bank/building society is the safest and would be able to survive high bank of England base rates and defaulting mortgage holders?

I imagine this question might also be relevant to former Northern Rock customers, at least those who haven't opted for the good old fashioned under the mattress option:D

[Deleted User]

Gold bullion in a vault...

All of the banks are exposed. I think we are still at teh tip of the iceberg, I can see many people going to jail for teh scams that have occured, in fact check out the yank news, they are already being banged up.

Browntoa

HSB has a good ratio of Debt to assets

cledor

The safest place would be in a govt owned establishment such as National Savings, that is if you're prepared to accept lower returns on your capital.

cpi

In answer to your question which may be old now as I have just researched this and found this article is

http://www.guardian.co.uk/business/2008/feb/19/northernrock.banking8

Believe it or not Northern Rock as it is government owned...

Good luck I am moving my money on July 2nd 2008!

[Deleted User]

You may want to read: http://www.moneysavingexpert.com/savings/safe-savings

tradetime

Agree with Northern Rock and NS&I

agent_orange_2

Yant1 wrote: »

Gold bullion in a vault...

I can see many people going to jail for teh scams that have occured, in fact check out the yank news, they are already being banged up.

Not so in dear old blighty, the establishment will go to any lengths to keep the corporate crooks at liberty. Now, if you've diddled the system, that's a different matter.

ianmr65

Here is my view based on a great many factors, including exposure to the housing crash, financial treatment of assets, money raising ability, share price, and other factors

Safest
NSI, is the safest
NR till it is brought out of 'temporary public ownership' - end of 2009, i suspect.
HSBC - cos if they go down, the last person to leave the planet should turn the lights off.

Safeish
Lloyds
RBS
Icesave
Ing
Co-op
Nationwide

Fairly safe
Barclays
The other building socieities.
Kaupthing Edge
Iccici
The other foreign banks

Decidely unsafe
HBOS (Halifax, and bank of scotland et al)
A&L

On it's last legs
B & B

ad44downey

nickf23 wrote: »

Hi there moneysavers :wave: I've been reading the forum for a few days now and have learned lots of excellent tips but this is my first post Was wondering if this financial chaos continues and there is a major american style property crash which uk banks are least exposed to the UK property market a al northern rock? In other words which UK bank/building society is the safest and would be able to survive high bank of England base rates and defaulting mortgage holders?

I imagine this question might also be relevant to former Northern Rock customers, at least those who haven't opted for the good old fashioned under the mattress option:D

It won't matter. any UK bank is safe now as the government will bail out any failing bank out as in the case of Northern Rock.That set a precedent that the government has to maintain for political reasons if nothing else.

brightonman123

cash or gold, under the mattress!