How many people pulling out?

IveSeenTheLight

Rover wrote: »

Naive Cobblers.
The Government has underwritten 100% of the savings with NR - the 35k is the reference to the 'old' scheme. People with mortgages with NR are unaffected - their arrangements will remain as agreed whether they are with NR or the establishment that absorbs them.

NR is a dead man walking. Walking aids provided by the government. No funds coming in whether from savings or new mortgages, money haemorrhaging out via withdrawals, penalty fees, dividends !!!!!!!

You say NR is a dead man walking.
More likely they are prime for a bigger bank to take them over.
Is there not benefits with B&BS's when buy overs are carried out.

As the money is guaranteed in NR and there is a possibility of a takeover, would it not make sense to have your money in the institution?

BettiePage

IveSeenTheLight wrote: »

You say NR is a dead man walking.
More likely they are prime for a bigger bank to take them over.
Is there not benefits with B&BS's when buy overs are carried out.

As the money is guaranteed in NR and there is a possibility of a takeover, would it not make sense to have your money in the institution?

http://news.bbc.co.uk/1/hi/business/7009041.stm

http://www.timesonline.co.uk/tol/news/

IveSeenTheLight

BettiePage wrote: »

http://news.bbc.co.uk/1/hi/business/7009041.stm

http://www.timesonline.co.uk/tol/news/

Thanks for this, very interesting reading, however.........
Remember the bank is gauranteed by the government.
It's more likely that the "bigger banks" are waiting until the share price drop even lowever to negotiate a better price.
Keep an eye on the new in the coming weeks

BettiePage

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2512384.ece

NR still offering 6x to ftb's.

Doozergirl

Dubb wrote: »

Doozergirl,
Housing buying is a stressful expensive business but there is no need for one to lose ones integrity. I have had many properties over the years and despite being gazumped on 2 occasions I will not allow personal gain to erode my principles.

When selling my last property several months ago I had an offer within a few days at the asking price. Now my house looked like a chocolate box picture and I had several offers above the asking price but! I refused the increased offers as I had accepted a previous offer.
Additionally I put in an offer on a property some time ago and since then I have seen 2 other properties that are cheaper and better value, but will not pull out of my current offer.

I have this year lost a lot of money for people pulling out and it’s not nice.
Integrity is an important factor of life. What would you think will you think if your vendor pulls out at the last minute!

Have a nice day.

Can you tell me what on earth you are talking about please?

Rover

IveSeenTheLight wrote: »

You say NR is a dead man walking.
More likely they are prime for a bigger bank to take them over.
Is there not benefits with B&BS's when buy overs are carried out.

As the money is guaranteed in NR and there is a possibility of a takeover, would it not make sense to have your money in the institution?

Don't see alot of benefits in having money in NR and yes I do think they'll be taken over:
http://forums.moneysavingexpert.com/showpost.html?p=6334470&postcount=28

dougs

BettiePage wrote: »

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2512384.ece

NR still offering 6x to ftb's.

dearie me, will they never learn :eek:

WTF?_2

dougs wrote: »

dearie me, will they never learn :eek:

They have learned - if you are a large bank or big financial institution you can be as reckless as you like and the government will bail you out if things go pear shaped.

In the wake of the Federal Reserve cut and the Bank of England U-turn all signs are that future government interest rate policy will be driven by the need to 'save the housing market' (ie. save the lenders and borrowers) as opposed to being made in the best general economic interests, so why not keep lending large amounts?

izzybusy23

Back to the OP's question.. I believe a lot people will pull out and hang fire to see what is happening. We hear that the credit crunch will be the catalyst to end this price boom BUT with Abbey offering 125% mortgage this may add more fuel to the fire and lure more innocents into the 'party'.. although I seriously hope not.

I thought interest rate rises would be the trigger to bring the housing bubble to its knee's, but I now feel it may be a credit crunch with the more reputable banks withdrawing 100% loans and high LTV mortgages.

Doc_N

Today's Observer might give you a clue as to what's happening in the market:

House price crash feared as buy-to-let landlords sell

http://money.guardian.co.uk/housepri...174921,00.html