Carpetbagging - is it worth it?

bristolleedsfan

ashm1 wrote: »

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


So how many building societies are there ?

59. an apparent odd number. :cheesy:

baby_boomer

bristolleedsfan wrote: »

yip, i can see mr lazenby doing a deal as well

And who will improve on his £400K+ salary given that Nationwide has just taken 3 Portman executives onto its board so that there is already a bit of overcrowding?

No-one I can think of.

If I were Mr. Lazenby I'd carry on milking my members and adding to my humungous pension . A building society's main purpose is, after all, to fill the pockets of directors.

Savers/Mortgage holders/Members don't really feature in the equation.

bristolleedsfan

[quote=baby_boomer;7802469given that Nationwide has just taken 3 Portman executives onto its board so that there is already a bit of overcrowding?

quote]

u are probably aware that Mr Lazenby was director of communications at nationwide at the time of the attempts by some members to win a conversion vote.

http://www.extensor.co.uk/associate_profile.php?link=91

im looking 4ward 2 when KRBS actually implement the new ( as off end of nov 2007) cheque payment of interest and clearing rules. ( 2.4.6) :rolleyes:


http://www.krbs.co.uk/genterms.aspx

KRBS claimed that my Nationwide ISA transfer cheque arrived seven calendar days after Leek BS said same transaction arrived in Leek.

Nationwide told me not to worry about which day ISA transfer cheques are posted cos ( in words of nationwide) "all ISA transfers are backdated to ensure no loss of interest", KRBS are the only BS out of 3 that dont want to backdate the interest.

ashm1

http://www.bsa.org.uk/aboutus/buildsocmember.htm

Time to look at the balance sheets...

cheggers

Leeds Building Society is worth a £100

Cozworth806

I saw that Moody's were reviewing Derbyshire credit rating. If it is downgraded then I could imagine that they may be forced into a merger to strengthen the balance sheet
I am looking at 1-2 year fixed rate deals or online accounts to keep the paperwork to a minimum.
Me and the wife currently have
Nationwide, Chelsea, Skipton, Yorkshire, Britannia, KRBS, and soon to have Leeds and Derbyshire. Any others we should look at for £100 or so? Live in Yorkshire so residential restrictions may apply.

bristolleedsfan

Cozworth806 wrote: »

I saw that Moody's were reviewing Derbyshire credit rating. If it is downgraded then I could imagine that they may be forced into a merger to strengthen the balance sheet
I am looking at 1-2 year fixed rate deals or online accounts to keep the paperwork to a minimum.
Me and the wife currently have
Nationwide, Chelsea, Skipton, Yorkshire, Britannia, KRBS, and soon to have Leeds and Derbyshire. Any others we should look at for £100 or so? Live in Yorkshire so residential restrictions may apply.

Here is the article u refer to.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL1849335420080118


imo go for as many 100.00 accounts u can aquire, at as low speculative cost as possible, Scarborough BS would be a useful addition to any consolidation speculative portfolio imo.

smudge18

Derbyshire and Britannia both have clauses in their terms saying that should any windfall happen that you have to give any proceeds to their Charitable Trusts. I don't know about any of the others but it seems to me that options now are severly limited.

bristolleedsfan

smudge18 wrote: »

Derbyshire and Britannia both have clauses in their terms saying that should any windfall happen that you have to give any proceeds to their Charitable Trusts. I don't know about any of the others but it seems to me that options now are severly limited.

I used to be put off by such clauses, soon learnt to ignore them.

smudge18

How can you when you have to sign to agree when you open the account? I don't think you have a choice.