London Scottish Bank plc 7% bond

BabyElephant

I did a quick search and couldn't find this anywhere else but I notice that London Scottish Bank have a one year bond offering 7%.

Does anybody know anything about this bank? Is this likely to be a "safe" place to put your money :rolleyes:

We've also been offered a one year 7% bond with Principality today as well (we've been members for more than two years) I just wondered why these seemingly good deals have just started to appear????

ManAtHome

Dunno about London Scottish - if they're covered by the deposit protection scheme you're ok up to £35k (should say on their website).

Rates are creeping up because banks are reluctant to lend to each other, nothing suspicious about it (and there was an over-7% 1 year fix around a month or so back).

Ian_W

Some discussion HERE.
They're covered by the FSCS, regulated by the FSA and subscribe to the banking code.
They do however provide "non-standard" mortgages which includes commercial and residential. All from their website, not personal knowledge.

BabyElephant

Whoops - sorry I did a search but didn't find that thread I obviously need to practice my searching skills.

Ian_W

BabyElephant wrote: »

Whoops - sorry I did a search but didn't find that thread I obviously need to practice my searching skills.

The thread title doesn't mention London Scottish, just 7% bond which drew my attn.
Probably wouldn't have come up on if I'd been searching either.