Is Carpetbagging Dead

IvanOpinion

planteria said:

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

Let's just say it wasn't my best decision when it came to investments

quirkydeptless

couriervanman said:

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 

The first rule of carpet bagging, is you don't talk about carpet bagging!

couriervanman

happybagger said:

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

Swansea was the only one I missed had the Cumberland via a very good mortgage deal back in the day which led to savings account before it ended because we were non locals

jimpwarsop

planteria said:

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.

It is only £500 across four accounts, so I'll throw throw the books to the back of the drawer.

Thanks.

planteria

happybagger said: 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

are they decent accounts? or better to just keep a flat £100 in each and put money into something with real growth?

planteria

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

agreed. a couple of people never migrated to other forums..

granta

I'm new to all this and missed the carpetbagging era! I recently opened a building society savings account and had to sign the form about charitable assignment, but it said the agreement lasted 5 years. Does that mean after 5 years anyone might benefit if there was a windfall or only for much longer term members? It wasn't the reason I opened the account, but just curious to know how it works and whether that's the same for the other BS.

couriervanman

granta said:

I'm new to all this and missed the carpetbagging era! I recently opened a building society savings account and had to sign the form about charitable assignment, but it said the agreement lasted 5 years. Does that mean after 5 years anyone might benefit if there was a windfall or only for much longer term members? It wasn't the reason I opened the account, but just curious to know how it works and whether that's the same for the other BS.

There wont be any windfalls....building societies spunked £100s millions up the wall in the 80/90/00s that had took a 100 years to build up coupled with Icelandic banks/USA housing bubble/Northern Rock crisis etc etc, and will take another 100 years plus to build up again.
I'm keeping Nationwide,Yorkshire,Coventry,Skipton,Leeds and my long shot Ecology plus a couple of others purely for regular saver accounts forget the rest if any mergers happen they will be just swallowed up with nil payouts ie Scarbourgh,Cheshire,Derbyshire,Stroud,Chelsea,Norwich,Chesham,Shepshed,Holmesdale etc etc

granta

couriervanman said:

granta said:

I'm new to all this and missed the carpetbagging era! I recently opened a building society savings account and had to sign the form about charitable assignment, but it said the agreement lasted 5 years. Does that mean after 5 years anyone might benefit if there was a windfall or only for much longer term members? It wasn't the reason I opened the account, but just curious to know how it works and whether that's the same for the other BS.

There wont be any windfalls....building societies spunked £100s millions up the wall in the 80/90/00s that had took a 100 years to build up coupled with Icelandic banks/USA housing bubble/Northern Rock crisis etc etc, and will take another 100 years plus to build up again.
I'm keeping Nationwide,Yorkshire,Coventry,Skipton,Leeds and my long shot Ecology plus a couple of others purely for regular saver accounts for  forget the rest if any mergers happen they will be just swallowed up with nil payouts ie Scarbourgh,Cheshire,Derbyshire,Stroud,Chelsea,Norwich,Chesham,Shepshed,Holsdale etc etc

Thanks for the explanation. Same as you, I only have a few BS accounts for the regular savers (and the lovely customer service!). 

planteria

granta said: I recently opened a building society savings account and had to sign the form about charitable assignment, but it said the agreement lasted 5 years. Does that mean after 5 years anyone might benefit if there was a windfall....?

yes it does. whether those windfalls will materialise remains to be seen, but as elsewhere in this thread, they have done before, and are doing so at the moment via another type of mutual. if you are being sensible and 'bagging as part of an overall saving/investment strategy it's a one way bet really.