Where are people putting the money they have taken out of Northern Rock

lolly5648

I still have savings with NR (Silver Savings - very good rate for monthly income) but wondered where everyone is putting the money they have withdrawn.

Reading the papers it seems that there are problem with Bradford & Bingley (where I have ISAS) and Alliance & Leicester. So which savings institutions are a good bet apart from NS&I.

freebo_2

I'll be putting it straight back into Northern Rock, mine's a postal account so it will take a few days, I posted the form over the weekend but am now convinced the funds will be safe, for my pariticulr account type (Buisiness Reserve) NR give the best rate.

HTH,

dunstonh

Reading the papers it seems that there are problem with Bradford & Bingley (where I have ISAS) and Alliance & Leicester. So which savings institutions are a good bet apart from NS&I.

Change your newspaper. This who debacle is media driven and not based on facts.

There is nothing wrong with NR, A&L or B&B

wombat42_2

dunstonh wrote: »

Change your newspaper. This who debacle is media driven and not based on facts.

There is nothing wrong with NR, A&L or B&B

Yes i have a B&B ISA and they are quite funky and groovy :beer:

iltisman

I went for Derbyshire BS 1 year bond (takes a bit of finding on their site) 6.85 aer and NS&I FRSB.

BenL

I guess there will be a few banks/building societies wishing they could have got a new or upgraded product out pretty sharpish and cleaned up all the money taken out of NR recently.

There maybe still some £ under peoples beds or in low rate current accounts at the moment just waiting for a new best buy product to launch.

Come on someone, provide an excellent product and you will clean up.

Possible £2 Billion in cash floating around.

napoleon

my advice is to buy lottery tickets with it

zaphod

napoleon wrote: »

my advice is to buy lottery tickets with it

The ones that guarantee your original investment back after many years of naff all.......


........ or the 'other' kind? :rolleyes:



Ahhh, llamedos.......pour a whisky.....5€ a bottle here in Portugal:beer:

Stephen_Leak

With the wisdom of hindsight, they should have bought NR shares on the Friday ...

[Deleted User]

Where are people putting the money they have taken out of Northern Rock?

... Probably into NRK shares lol

ps there are no problems with any of the banks except in peoples heads.

If NRK cant get any further finance it will simply have to wind down its operation ie not offer so many loan products and just carry on with what its got (which is a hefty chunk of the uk market I might add). This will act on its value.

As far as i can tell and from the NRK announcements the risk is that NRK will only be making £500,000,000 profit and not the £600,000,000 profit expected.

Who pays for more expensive money markets? The credit consumer, ie yours and mine mortgages. But my mortgage is with A+L .

purch

I wonder how many took their money out in the form of the Cheque ??? :rotfl: