CarpetBagging- The best accounts to open at each Building Society

Froggitt

And the distribution of hundreds of years of built up reserves by The Chelsea passed everybody by.

Where did they go? Must have been to that great big trough in the sky.

Froggitt

Britain's fifth-largest building society lost £39million last year and a further £19million between January and June after being buffeted by the Icelandic financial meltdown and an embarrassing buy-to-let mortgage fraud.
The setbacks have eaten deep into the society's cash reserves, sapping its ability to withstand a further spike in soured loans.

Ahhhhhh now I remember where the reserves went........spunked up a wall by the trough snorters. Nothing left for you or me.

Woggy67

Hi,

I just found this 'Carpetbagging' thread and was wondering if anyone would kindly offer their views as to what has happened to the following Building Societies and whether it is worth keeping the accounts open with a view to any potential future windfalls.

Each account has a small amount in it and has been held open for a number of years:

• Birmingham Midshires
• Chelsea
• Britannia
• Egg
• Nationwide

Thanks in advance for any replies.

guesswho2000

Woggy67 wrote: »

Hi,

I just found this 'Carpetbagging' thread and was wondering if anyone would kindly offer their views as to what has happened to the following Building Societies and whether it is worth keeping the accounts open with a view to any potential future windfalls.

Each account has a small amount in it and has been held open for a number of years:

• Birmingham Midshires
• Chelsea
• Britannia
• Egg
• Nationwide

Thanks in advance for any replies.

Britannia is part of Co-op, Egg was never a building society, but its CCs went to Barclaycard, the rest to YBS, Nationwide is still the worlds biggest Building Society, just like before.

Froggitt

Midshires got taken over by Halifax years ago, and paid out £500 or so from memory.

EarthBoy

The Chelsea went to YBS.

Biggles

If you never received a payout, maybe the clue is in your use of the phrase 'small amount'? The normal minimum to qualify for membership rights was (and, presumably, still is, though I've long given up hope of any new windfalls) £100.

Froggitt

Froggitt wrote: »

Midshires got taken over by Halifax years ago, and paid out £500 or so from memory.

On reflection, it was nearer £1000 for my £100 stake.

planteria

there are mutuals other than Building Societies, of course. are you in to any others Froggitt? i have listed my portfolio, including some mutuals, here:
https://forums.moneysavingexpert.com/discussion/4698817

Froggitt

A few of the LifeCos. LV, Royal London, Royal Liver (did they get sold down the river?) from memory. Couple of ISAs, couple of £10 pensions. Nothing much.