Savings - Mortgage - Financial protection question

theinbetweener007

Hi everyone,

If I had, say, 500k mortgage outstanding with a UK hughstreet bank....and 100k savings (so, over the 85k 'protected' limit) and the bank went of business....Would my 85k be protected AND my mortgage end up 485k (500k minus 15k)? As even though only 85k cash was 'protected'  surely the authorities wouldn't expect my mortgage debt to the bank to stay the same?

I know its a weird question that I may not have articulated well so apologies if confusing. This was a random question I thought of whilst walking the dog but also a situation relevant to me as I am wondering where to put savings.

many thanks

Richard

grumbler

Some recent threads:

Offset Mortgage and Savings Protection

Question: If Bank XYZ goes bankrupt or default, what happens to my assets and debts with that bank?

theinbetweener007

grumbler said:

Some recent threads:

Offset Mortgage and Savings Protection

Question: If Bank XYZ goes bankrupt or default, what happens to my assets and debts with that bank?

Omg not only are you spot on that person's question used the exact same numbers I did!! how odd!