Is Carpetbagging Dead

couriervanman

planteria said:

to answer the original question, i'd say it's very slow, but very much alive..
some of us 'baggers from the old days will be bagging a cash payment as a result of our membership of LV this year, along with an uplift to our WP policy maturity values [https://forums.moneysavingexpert.com/discussion/6158325/liverpool-victoria-sale-demutualisation/p1]. 
fwiw saving £100s from my first job to open building society accounts, having seen my cousins all receive payments to compensate them for the loss of their Halifax membership, was how i started saving, and when i wound up with Bradford & Bingley and Standard Life shares i became 'an investor' and have had a healthy interest in saving/investing/personal finance ever since.

Back in the good old days I got a fair amount of them but missed out on a few simply down to not having enough cash to open all accounts, but did get quite a few double baggers as me and wife both had accounts with B&B,Halifax,Leeds Permanent & Abbey National 

veryintrigued

I'm looking forward to a payout from Liverpool Victoria for some with profits policies I've got.

Not sure how tightly the term 'carpet bagging' is.

[Deleted User]

bowlhead99 said:

ZeroSum said:

Thrugelmir said:

How many of the building societies that demutualised survived as independent banks? 

Off the top of my head, probably just Halifax

And that one didn't exactly 'survive' independently ; too-big-to-fail, Lloyds were pressured to take it under their wing to stop it going pop (paying way more to HBOS shareholders than they really deserved; HBOS P&L in 2008 was negative £10-11 billion) and then Lloyds in turn got £20bn of government assistance, but kept going.

So the Halifax brand still exists, but not because it was still a resilient and well capitalised lender a decade after demutualisation. It was quite the opposite!

Halifax hasn't existed as an entity since HBOS days when the group merged all their banking licenses into BOS.
I don't think they overpaid as they were looking for a bailout anyway and would never had been able to acquire Halifax in normal circumstances due to competition laws 

IvanOpinion

Many years ago I got a payout from Bradford & Bingley ... that went well !!!!!
I now have a lovely piece of paper that is worth nothing.

Speculator

I think carpetbagging peaked at around 1993/1994.
Who remembers the carpetbagging forum moneybags.com?

roddydogs

IvanOpinion said:

Many years ago I got a payout from Bradford & Bingley ... that went well !!!!!
I now have a lovely piece of paper that is worth nothing.

Should of sold them like I did, about £800 if I remember right.!

couriervanman

IvanOpinion said:

Many years ago I got a payout from Bradford & Bingley ... that went well !!!!!
I now have a lovely piece of paper that is worth nothing.

First rule of carpetbagging was take the money/sell shares and move on to the next one 

couriervanman

The last actual cash I got was in 2006 and as you can see the payouts were getting smaller from the days of the big payouts
Mercantile £120
Lambeth £320
Catholic £80
 
Since 2006
The Scarbourgh,Barnsley,Dumfermline,Cheshire,Chelsea,Derbyshire,Chesham,Stroud,Norwich & Peterbourgh,Century,Shepshed,Holmsdale have all merged/taken over with zero payouts, the Chelsea back in the day had a minimum opening balance of £2500.
So yes the days of building society carpetbagging are over, the only accounts I have now are Nationwide,Yorkshire,Coventry,Skipton.Leeds,Newcastle & West Bromwich and how long I keep those is debatable as one is used as bank and the rest are regular savings accounts

planteria

jimpwarsop said: Prompted by this thread I find we have accounts with Saffron, and Staffordshire Railway.

no one really knows. but fwiw i am a member of both of these societies and don't intend to close my accounts.

veryintrigued said: I'm looking forward to a payout from Liverpool Victoria for some with profits policies I've got. Not sure how tightly the term 'carpet bagging' is.

i'd certainly classify you as 'a bagger' if that's something that appeals to you veryintrigued i'm in the game for the LV windfall and policy uplift too.

IvanOpinion said: Many years ago I got a payout from Bradford & Bingley ... that went well !!!!! I now have a lovely piece of paper that is worth nothing.

i assume you held onto them all the way to the financial crisis then sorry Ivan... the original windfall was in 2000 and was worth £750, i think.. i sold for c£1300

Speculator said: I think carpetbagging peaked at around 1993/1994. 

Who remembers the carpetbagging forum moneybags.com?

themoneybag.com.. but the original was carpetbagger.com 

happybagger

Still here, and still got them bags  despite my thoughts of closure Cumberland always prevented the full set. Was funny trying 15 branches back in the day, polite but "no" at every one
Nowadays more about access to decent accounts - being able to open ESBS Monthly Saver or Bucks BS RS Locals was only possible by being an existing member

Such a shame the forums at rpoints were deleted. Probably the only place where the dodgy goings on at Holmesdale were ever discussed