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bristolleedsfan

10_66 wrote: »

Sorry if I'm being a bit thick here, but is there any reason why I should be concerned about Newcastle BS? Also, if FirstSave are covered by the Financial Services Compensation Scheme (within its limits) is there any reason for concern? I know that Martin's produced a table that shows which main companies are "connected" to each other (ie, so the limits of the FSCS would only apply once, if several accounts were held by different companies that all came under the same "umbrella"), but how do we find out about those that aren't mentioned in Martin's table? Sorry for all the questions!

bar BMW and MINI account ranges which are newcastle accounts this is the only involvement newcastle has with the other financial organisations mentioned. ( as per earlier link) ( only financial aspect involved is newcastle get paid for the services it provides)

http://www.onenortheast.co.uk/page/news/article.cfm?articleId=2710

"About Newcastle Strategic Solutions Limited

Newcastle Strategic Solutions Limited manages savings, loans, mortgages and pre-paid cards on behalf of third party customers. The bulk of jobs created at Cobalt will be in its ‘Fully Managed Services’ offering, which includes customer acquisition, application processing, account management, administration services and telephone based contact centre.
NBS counts a number of major financial sector businesses, such as Bradford & Bingley, Bank of Ireland and Iceland’s Landsbanki with ICESAVE, as customers, and this expansion will enable it to develop the Strategic Solutions business services to a wider market. It will also see the company invest further in leading edge information technology. "

"Mutual One " is a similar enterprise

http://www.skiptongroup.com/mutualOne.asp

10_66

Thanks for answering the Newcastle bit, but do you know how to find out the other information raised in my post (ie being able to find out links between companies). For example, if you visit the FSA register, there isn’t any mention of a link between Manchester Building Society and Whiteaway Laidlaw, but the latter is a wholly owned subsidiary of the former. This is mentioned on Whiteaway Laidlaw’s site, however, if no such mention were made, how would we know, or are they obliged to state it?

bristolleedsfan

10_66 wrote: »

Thanks for answering the Newcastle bit, but do you know how to find out the other information raised in my post (ie being able to find out links between companies). For example, if you visit the FSA register, there isn’t any mention of a link between Manchester Building Society and Whiteaway Laidlaw, but the latter is a wholly owned subsidiary of the former. This is mentioned on Whiteaway Laidlaw’s site, however, if no such mention were made, how would we know, or are they obliged to state it?

this question of yours imo answered itself. "if FirstSave are covered by the Financial Services Compensation Scheme (within its limits) is there any reason for concern? "

Answer is no reason for concerns if investments are kept within compensation scheme limits.


Manchester BS bought Whiteaway Laidlaw Bank during 2007, u say its mentioned on Whiteaway site, Manchester Building society also links to Whiteaway Laidlaw Bank home page which contains the Manchester/Laidlaw Bank aquisition info.

Isnt this enough after all Mr Average would look to the institutions webpage/ books of words rather than the FSA webpage.


in addition both website address and Postal Address given by FSA in respect of Whiteaway ....... is Manchester BS webpage address and Manchester BS Postal Address, dont u agree that a investor with Manchester Building Society would be familiar with either/both website/Postal address link. :doh:

http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=58485

so in all three places the link between Manchester And Whiteaway Laidlaw Bank is either mentioned or linked.

giverny

Firstsave now seem to be appearing in best buy savings account "league" tables.

If they are OK and now offering what appears to be one of the best savings rates with few strings, I'm puzzled as to why Martin does not mention them at all in his list of savings accounts.

bristolleedsfan

giverny wrote: »

Firstsave now seem to be appearing in best buy savings account "league" tables.

If they are OK and now offering what appears to be one of the best savings rates with few strings, I'm puzzled as to why Martin does not mention them at all in his list of savings accounts.

reason Firstsave are only now appearing in best buy tables is cos since last base rate decrease, Firstsave have increased its rates whereas others in best buy tables have decreased their rates.

Meltdown_2

bristolleedsfan wrote: »

reason Firstsave are only now appearing in best buy tables is cos since last base rate decrease, Firstsave have increased its rates whereas others in best buy tables have decreased their rates.

So does that mean that Firstsave are in desperate need of funds? and if so why?

bristolleedsfan

Meltdown wrote: »

So does that mean that Firstsave are in desperate need of funds? and if so why?

Firstsave are only as "desperate" for funds as everybody else that are paying loss leading rates;) , clearly reason theve increased its rates when others have been decreasing is to hit best buy tables. ( no different to all new accounts getting launched to hit best buy tables)

It was predicted that existing savings accounts would be subjected to savage rate decreases whereas at same time new accounts would get launched by Building Societies/Banks/Plcs paying new market leading rates.

markw5

Any mention of Nigeria in the same phrase as the word money makes me run away very fast.
I was thinking of investing until I came here - thanks to you all for the information

masonic

Wow! A legitimate Nigerian bank. Now I've seen it all.