Carpetbagging - is it worth it?

Kaz64_2

I already have £200 in a Nationwide account, and there is a Chelsea in Southampton...andI have to go there soon on other business, so will kill two birds with one stone! I looked at Skipton, and they have a waiver to send your windfall to charity. There isn't one of those near me either, so could be difficult to open an account... ahhh, those were the days, when you could open an account with barely any ID.... Thanks for your help Fella.

Kaz64_2

If you don't need the money for anything badly for a long time, Bristolleedsfan, there's no harm leaving some in an account on the offchance.

bristolleedsfan

Kaz64 wrote: »

If you don't need the money for anything badly for a long time, Bristolleedsfan, there's no harm leaving some in an account on the offchance.

absolutely correct. :T it is also true not to be detered by signaways as not one has been applied to date. ( so take no notice of chelsea signaway)

as for conversions their havent been any for a very long time and in all probability their wont be any more conversions for a very long time ( if ever)

as for people speculating who will be next to merge, their are those who speculate every year about "who will be next" when history has shown those who have merged have been the unlikely ones.

Fella

bristolleedsfan wrote: »

only people whove been tipping chelsea and skipton to convert are the over optimistic die hard carpetbaggers.

fella can contradict this post by providing links showing evidence to the contrary.

i would say it was unlikely before NR fall that any of the existing Building Societies would convert, post NR fall i would say its extremely unlikely any of the remaining Building Societies will convert.

Diehard Carpetbaggers will keep on banging the same drum despite all the apparent barren conversion years. :rolleyes:

this was Chelsea BS Board position in 2001 and going on for 7 years later nothing is likely to change re "conversion"

http://news.independent.co.uk/business/news/article265407.ece

Actually I definitely read articles suggesting Chelsea & Skipton were likely candidates but it was before 2001. More like circa 1997. I doubt I'll be able to find any now though! And to be honest it's academic since anyone who thought then that they would convert has been proven wrong, for at least 10 years.

I think the BS sector will definitely shrink to almost nothing. If you look at the historical numbers of building societies it's been shrinking non-stop & fairly quickly for ages now & the reasons for it to carry on doing so apply more than ever. I agree this will be almost all in the form of takeovers though. Nationwide may be the only BS large enough to simply float in it's own right.

bristolleedsfan

Fella wrote: »

More like circa 1997. I doubt I'll be able to find any now though! And to be honest it's academic since anyone who thought then that they would convert has been proven wrong, for at least 10 years.

I think the BS sector will definitely shrink to almost nothing. If you look at the historical numbers of building societies it's been shrinking non-stop & fairly quickly for ages now & the reasons for it to carry on doing so apply more than ever. I agree this will be almost all in the form of takeovers though. Nationwide may be the only BS large enough to simply float in it's own right.

Paragraph 1 above speaks for itself. :T

Theres no doubt the no of Building societies will shrink, albeit not very fast if the past 10 years are anything to go by.

i actually believe BS have done a deal, no mergers announcements during the current liquidity crisis so as not to put negative publicity on BS movement which is why Mr Cornish ( COE Yorkshire BS and chairman of BSA during last year) was quite confident to announce in April 2007 that he didnt believe their would be any BS mergers for the foreseeable future.

was this statement u made that i thought was misleading as the only people who have regularly mentioned it are the carpetbaggers. ( most of their speculating is clearly wishfull thinking)


"They haven't done it yet but they still get regularly mentioned when people are speculating on which BSs might convert."

Kaz64_2

Bristolleedsfan, I will take on board your advice about ignoring the waiver!

cheggers

Cheshire Building Society is one to watch, no harm in getting £100 invested with them:beer: :beer: :beer:

Primrose

Am not sure whether it's still worth carpet bagging as in the current economic conditions I can't see any mutual building society trying to float on the stock market at the moment. However, don't forget that our "dear friend" Gordon Brown, before he became Prime Minister, initialled his intention to grab any dormant accounts which have lain unused for 15 years and hand the money over to charity, so if any of you have not touched your carpet bagging accounts for a while, I'd add the odd fiver to keep them activated, just to be on the safe side.

bristolleedsfan

cheggers wrote: »

Cheshire Building Society is one to watch, no harm in getting £100 invested with them:beer: :beer: :beer:

i agree, im suprised brittannia havent done a deal with cheshire. :cheesy:

all BS are worth a 100.00 punt, i just believe stick 100 in leave it there and get on with life. :beer:

Kaz64_2

Is Brittannia still around? I thought they had already gone?