A&L next

[Deleted User]

Well this is Alliance and Leicesters business plan -

No 125% mortgages
No self certification
Any credit people currently have seriously damages the ability to get a mortgage
No poor credit risks
Only cherry picking the very best of customers, even their own bank managers have been turned down.
Partnership with bank of america on credit cards
Unsecured loan? no youve missed a payment on your credit card 4 years ago
Need to use GIRO? thats our network
Need to use the post office? yep we own that to

Now lets compare that to NR -

Lots of missed payments is ok
125% you got it
How much you want?
unsecured loan for that much needed depreciating asset of holiday you got it, take it we dont want it?
No other business to speak of other then loans, yep thats us call us now

I think A+L is infinitely safer then NR. But a share price is driven by market forces so that doesnt stop it crashing.

abaxas

Yant1 wrote: »

Well this is Alliance and Leicesters business plan -

No 125% mortgages
No self certification
Any credit people currently have seriously damages the ability to get a mortgage
No poor credit risks
Only cherry picking the very best of customers, even their own bank managers have been turned down.
Partnership with bank of america on credit cards
Unsecured loan? no youve missed a payment on your credit card 4 years ago
Need to use GIRO? thats our network
Need to use the post office? yep we own that to

Now lets compare that to NR -

Lots of missed payments is ok
125% you got it
How much you want?
unsecured loan for that much needed depreciating asset of holiday you got it, take it we dont want it?
No other business to speak of other then loans, yep thats us call us now

I think A+L is infinitely safer then NR. But a share price is driven by market forces so that doesnt stop it crashing.

Ermmm,

About 4 year ago I opened an internet saver with them but never used it.

Then last year I opened a joint account with the GF. Since I was already a member (!) I got..

1 years free £2000 overdraft limit (which has been very useful!)
and a credit card each with a £4k limit.


I'm not saying they are a dodgy bank, just that I was amazed and the way they threw money at me. Especially when I didn't ask for it :rotfl:

BettiePage

Edit: Forgot link. http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=481778&in_page_id=1770&ct=5

nb_bob

I have savings with A&L and have been logging in and out all evening. Website still working. Their shares took a pounding at 4.30pm but rallied at the close. Suggestions are A&L used the down turn in shares to buy back some shares. I'm not worried and won't be panicing tomorrow though I will be keeping an eye on things.

cheers
Rob

BettiePage

nb_bob wrote: »

Their shares took a pounding at 4.30pm but rallied at the close.
cheers
Rob

http://uk.finance.yahoo.com/q/bc?s=AL.L&t=1d&l=on&z=m&q=l&c=




Not much of a rally to my eye

nb_bob

Unfortunately the list that BettiePage has posted really can't be used to accurately evaluate a bank's worth or probability of trouble. It's too simplistic. Most of A&L's loans are AAA+ credit rated. Poeple shouldn't panic.

cheers
Rob

nb_bob

BettiePage, a rally is defined as a rise after a fall. Share price was 550p at 4.55pm. At Close 600p; hence a rally.

cheers
Rob

BettiePage

nb_bob wrote: »

BettiePage, a rally is defined as a rise after a fall. Share price was 550p at 4.55pm. At Close 600p; hence a rally.

cheers
Rob

As I stated, not much of a rally.
Cheers
Bettie

Guy_Montag

Looks like HM Govt will bail out depositors at all UK banks should they get into trouble not just NRK.

A Treasury spokesman said that technical details of how the guarantee would work in practice would now be worked out, but that the word of the Chancellor was legally binding. The spokesman said that the deposit guarantee would be extended to any bank which finds itself in similar circumstances to Northern Rock during the current financial-market turbulence. Any bank needing such a guarantee would have to be solvent and a going concern, the spokesman said.

With thanks to Nick.. @ GHPC

nelly_2

jonewer wrote: »

I guess this means that the taxpayer will now have to undewrite all deposits made with all banks?

Well seeing as how the government dont have anymoney it is just stolen tax then yes thats exactly correct.

And as a tax payer I dont seem to remember being asked if I want my hard earned to go to a company tghat lends chavy mortgages to chavy people

cos If I was asked the answer would be - no go f*ck yourselves actually.

and If you want to lend money to a load of chavs who a cant save a deposit (125% mortgage) and a load of chavs (stupid enough to pay asking price these days) then you deserve to go under and I'll donate eff all out of my tax to help prop them up.

I work for myself and am due in on my tax bill and will happily go to prison than pay my tax if they bail them out