Musings on the Northern Rock unlimited guarantee

Fella

bristolleedsfan wrote: »

I previously posted about the 3 month guarantee at the time it was given ( december) idea of forum is people search to see if topic has been covered before posting a new thread.

You seem to have a bit of a bee in your bonnet on this topic BLF, what you posted above is a bit daft to be honest.

The search feature is great for some things & completely useless for others. Northern Rock has tons of threads dedicated to it. If you really want to quote forum etiquette then probably 95% of what's asked on here has been covered before. And many of those questions are incredibly basic.

I'm perfectly happy that this was a valid thing to discuss TBH. But if you don't think so I guess we just have to agree to disagree.

cheers
Fella

bristolleedsfan

Fella wrote: »

You seem to have a bit of a bee in your bonnet on this topic BLF, what you posted above is a bit daft to be honest.

The search feature is great for some things & completely useless for others. Northern Rock has tons of threads dedicated to it.
cheers
Fella

yip and now has ANOTHER thread asking what was contained in the other tons of NR threads.

heres one, mentions the 3 month depositors guarantee ( dec 2007)

http://forums.moneysavingexpert.com/showthread.html?p=7065551

U know what i think fella u either went with the ICICI 1 year fix and now wish ud waited one day cos NR 1 year fix is better deal or u cant make your mind up which one to do. ( either way u are looking for negatives in depositing with NR, cos u the only person who has posted negatives covering 2 different threads)

Im not sure y u didnt keep it all in one thread rather than starting "ANOTHER" NR thread.

http://forums.moneysavingexpert.com/showthread.html?t=698693&page=2

Fella

bristolleedsfan wrote: »

yip and now has ANOTHER thread asking what was contained in the other tons of NR threads.

heres one, mentions the 3 month depositors guarantee ( dec 2007)

http://forums.moneysavingexpert.com/showthread.html?p=7065551

U know what i think fella u either went with the ICICI 1 year fix and now wish ud waited one day cos NR 1 year fix is better deal or u cant make your mind up which one to do. ( either way u are looking for negatives in depositing with NR, cos u the only person who has posted negatives covering 2 different threads)

Im not sure y u didnt keep it all in one thread rather than starting "ANOTHER" NR thread.

http://forums.moneysavingexpert.com/showthread.html?t=698693&page=2

Probably best if you don't make personal & very innaccurate observations. I'd appreciate it if you didn't (A) make ill-informed guesses as to my motivation to post or (B) insult me by suggesting that I'm a sad enough character that I would try to sully the reputation of a bank because I was disappointed at investing somewhere else first!

To be honest, I don't know either where you came up with that idea or where you get off having the cheek to suggest it. I've been nothing but polite with you so kindly respond in kind or don't respond.

Let's clear up a couple of things:

1. As I mentioned before I have no axe to grind with NRK. I may invest in their bond, which was what led me to post this thread in the first place. What I posted in the other thread was not only NOT negative, it was positive. If you re-read it you'll see that I was suggesting the bond may be around for awhile (i.e. long enough to actually invest in it) if it's been released in order to make the balance sheet more attractive. I have in no way suggested in any thread at any point that new NRK investments may be in danger, merely that people should not invest on the assumption that the 100% guarantee will remain in place forever. And despite what you or other's may have already known, I am certain that there are some folk who have not considered the possibility that the 100% guarantee will be withdrawn at some point.

The idea that I am in some way "anti-NRK" exists only in your mind I'm afraid.

2. It's easy for you to quote threads, because you're already aware of them, but exactly what search would have thrown up a reasonably quick answer to my question? A search for "Northern Rock Guarantee" throws up many threads, none of which are obviously discussing the same point. The post you have just laughably cited, came at the end of a two page thread entitled Northern Rock Savings. One of dozens of equally ambiguously titled threads.

FYI I haven't invested in the ICICI bond, and in fact couldn't have yet, since if I understand correctly the bond is only open to existing customers of which I am not yet one.

For the final time, this thread was valid, as has been proved in fact, by other people thanking you for your input, me being one of them.

knights

Think it would be nice if that was an end to your exchanges now guys or gals, let's get back to the nice friendly site that this is and gives me so much pleasure to read and participate in.

thanks.

bristolleedsfan

Fella wrote: »

Let's clear up a couple of things:

merely that people should not invest on the assumption that the 100% guarantee will remain in place forever. And despite what you or other's may have already known, I am certain that there are some folk who have not considered the possibility that the 100% guarantee will be withdrawn at some point.

The idea that I am in some way "anti-NRK" exists only in your mind I'm afraid.

2. but exactly what search would have thrown up a reasonably quick answer to my question? A search for "Northern Rock Guarantee" throws up many threads, none of which are obviously discussing the same point. The post you have just laughably cited, came at the end of a two page thread entitled Northern Rock Savings. One of dozens of equally ambiguously titled threads.

quote]


NR 6.90% has no penalty instant access withdrawal facility so if government guarantee was withdrawn people could move funds out immediately.

Was u that stated other night that u was initiating ICICI 1 year fix application.


http://forums.moneysavingexpert.com/showthread.html?t=699013

Again not sure y your concern about Guarantees couldnt be posted within the existing NR thread.

Fella

bristolleedsfan wrote: »

NR 6.90% has no penalty instant access withdrawal facility so if government guarantee was withdrawn people could move funds out immediately.

Was u that stated other night that u was initiating ICICI 1 year fix application.

Again not sure y your concern about Guarantees couldnt be posted within the existing NR thread.

This bond has the withdrawal facility, future bonds may not.

Re ICICI, you're confirming my point for me. If I only began initiating an application then, I couldn't possibly have opened one already.

I started a new thread because this is a new topic, i.e. the longevity of the guarantee, not a topic specifically related to the current bond or thread.


That's the last I'll explain myself or respond to you on this. If you feel the need to have the last word feel free, I shan't be posting on this subject again either way.

PBA

As I see it there's no way the govt can take away the guarantee any time soon. You'd think that a bank whose deposits are 100% government guaranteed shouldn't need to offer market leading interest rates to attract depositors, but the reality paints a different picture. I'll certainly be lumping all my savings into the 6.9% bond, can't be beaten (and if anyone does decide to beat it then the money can be transferred!)