Carpetbagging - is it worth it?

bristolleedsfan

Jake'sGran wrote: »

Wasn't that the Halifax one? You must excuse my vagueness - not been well - aw...:o - had my heart zapped yesterday (to get the rhythm back to normal sinus). It appeared to have worked so my posts might make more sense in future.:j

yip birmingham midshires was bought by halifax, BM members of less than 2 years standing were given preference shares.

Kaz64_2

Wow, this has moved along a bit...
Now they are saying there could be "a fresh round of mergers"...... I'd better get myself off to Southampton and sign up with Chelsea sooner rather than later!

Bristolleedsfan, that first link didn't let me in - said I didn't have permission. The other link... wow, didn't know there were so many BSs left!
With the Portman takeover, I got £400, can't remember why. That was actually one I was sad to see go... lovley staff, and pleasant company to do business with. Nationwide are not so good.

bristolleedsfan

Kaz64 wrote: »

Wow, this has moved along a bit...
Now they are saying there could be "a fresh round of mergers"...... I'd better get myself off to Southampton and sign up with Chelsea sooner rather than later!

Bristolleedsfan, that first link didn't let me in - said I didn't have permission. The other link... wow, didn't know there were so many BSs left!
With the Portman takeover, I got £400, can't remember why. That was actually one I was sad to see go... lovley staff, and pleasant company to do business with. Nationwide are not so good.

sorry forgot R-points link u need to join R-points:o .

http://www.rpoints.com/

( it has its own carpet bagging forum called mutuals, they spend a lot of time reading BS accounts and making observations and judgements not that they have any influence on what will/might/wont happen in the future.

Kaz64_2

Not much different to me looking into my crystal ball then!

Thanks.

bristolleedsfan

Kaz64 wrote: »

Not much different to me looking into my crystal ball then!

Thanks.

reality is neither crystal ball, carpet bagging discussion posts, them on R-points studying and discussing BS annual reports will have any influence at all on whether or not their are any mergers, if their are mergers who merges. :rolleyes:

this article sums things up, 13 months ago predicted a wave of mergers in 2007 and what happened :think: :sad: :shocked: :rolleyes2 :mad: :embarasse :huh:

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=415805&in_page_id=7

heres a man who might know which BS will be next to be bought. :rotfl: :rotfl: :rotfl:

http://forums.moneysavingexpert.com/member.html?u=22361

Mail newspaper is as obsessed with articles on mutuals as express newspaper is obsessed with articles on House Prices.

mystic_trev

bristolleedsfan wrote: »

heres a man who might know which BS will be next to be bought. :rotfl: :rotfl: :rotfl:

http://forums.moneysavingexpert.com/member.html?u=22361

Thanks BLF I must have seen this thread in me balls !!!!!!

I've done quite well on the old BS Conversions, but not as well as I did with Life Company Mutuals. I had a policy with Scottish Provident, when they were taken over by the Abbey the 'compensation' was worth 60% of the value of my Policy! Which I cashed in shortly afterwards :rotfl: Also bagged Friends Provident

My tip - Kent Reliance

bristolleedsfan

mystic_trev wrote: »

My tip - Kent Reliance

yip, i can see mr lazenby doing a deal as well ( will be when he can do a deal that parachutes him back into a bigger building society imo)

idea KRBS have of moving out of kent is first step imo ( kicking "local interests" into touch)

not sure y KRBS have picked wales to move to.

not sure y its taking KRBS so long to build new webpage ( 314 days so far :rotfl: )

http://www.internetbuildingsociety.com/ ( im not even sure what the point of IBS is )

quinlanmd

baby_boomer wrote: »

I don't want to quibble about semantics - but it's all cash to me !

I didn't word that very well! The difference I was attempting to highlight was that anyone bunging in £100 might see a very small "carpetbagging" return if a society was acquired and paid an interest bonus rather than the more usual minimum lump sum.

As some of the smaller societies may have low net worth per customer, a merger bonus paid out via interest bonus might be more likely as the minimum "lump sum" payment they would be able to distribute may be much smaller than the hundreds of pounds carpetbaggers have become used to.

ashm1

http://www.bloomberg.com/apps/news?pid=20601102&sid=a0nSLdISZa5g&refer=uk

British banks ``are unable to grow effectively because the cost of funding is too high,'' said Guy de Blonay, who helps manage about $41 billion at New Star Asset Management Group Plc in London. ``The housing market is starting to weaken and as credit quality deteriorates provisions will need to rise.''
Smaller banks including Alliance & Leicester Plc and Bradford & Bingley Plc will be hurt the most by funding constraints and may be bought by larger institutions this year, Hitchins said. Customer-owned U.K. building societies are also being held back by funding costs and may consolidate, he said.

So how many building societies are there ?

Kaz64_2

Loads, if you look at Bristolleedsfan's link a few posts back.