Are your savings safe? article discussion

nicko33

Baldur wrote: »

High rates to control inflation? That's a new twist on the fundamentals of economics, as I understand them.

The Central Bank is attempting to hold or reduce rates in order to combat inflation, as I read the article.

I make no claim to understand the intricacies, but I thought the BoE worked according to that general principle when they set rates to try to meet their inflation target

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article573956.ece
Other things being equal, a rise in base rates will tend to dampen demand.
...
If demand falls, inflation will tend to drop back.

heygringo

Oblivion wrote: »

Well, Gordon has today stated that a £50,000 guarantee is being considered ...
Dave.

I caught the back end of a news item that said the guarantee is now £50,000. But no further discussion about it. If that's the case, is the 50K for cash investments only, or 50K for S&S investements as well? making 100K in total. :T

Oblivion

heygringo wrote: »

I caught the back end of a news item that said the guarantee is now £50,000. But no further discussion about it. If that's the case, is the 50K for cash investments only, or 50K for S&S investements as well? making 100K in total. :T

WHOA! It hasn't happened yet. Wait for the confirmation (or denial that this government is so good at) before you break out the champagne

Dave.

Broadsword1947

Anyone like to give an opinion as to whether it`s worth cashing in fixed term bonds, paying penalties on notice accounts and losing the ISA tax benefits on accounts with Nationwide simply to spread the money around between institutions?

BSWD 1947

maypole

I believe Lloyds Tsb own Birmingham Midshires, If I have £35000 in each bank and they went bust, am I covered for both amounts or just one, also are joint account holders both allowed the £35000 safety net?

Baldur

maypole wrote: »

I believe Lloyds Tsb own Birmingham Midshires, If I have £35000 in each bank and they went bust, am I covered for both amounts or just one, also are joint account holders both allowed the £35000 safety net?

The proposed LTSB/HBOS deal has yet to be confirmed - see http://www.lloydstsb.com/lloydstsb_hbos_announcement.asp

Lokolo

Oblivion wrote: »

WHOA! It hasn't happened yet. Wait for the confirmation (or denial that this government is so good at) before you break out the champagne

Dave.

http://www.dailymail.co.uk/news/article-1063679/Brown-raises-bank-savings-guarantee-50-000-day-turmoil-markets.html

Stavros_3

Broadsword1947 wrote: »

Anyone like to give an opinion as to whether it`s worth cashing in fixed term bonds, paying penalties on notice accounts and losing the ISA tax benefits on accounts with Nationwide simply to spread the money around between institutions?

BSWD 1947

!!!!!!, don't even consider it. You will get hammered with a penalty clause loss of interest, let the fixed term deposit mature. To put things in perspective I have 100k with the Alliance and leicester, this matures in January. I am losing no sleep neither should you with the Nationwide. If you cash it in its been a pointless exercise. You are not repeat NOT going to lose any deposits by staying where you are. The government have made it clear on the back of N/R and the B&B. At the end of the day its your choice. If it was me, I wouldn't touch them. Oh and for the record I have a wedge with the Nationwide that is over the FSCS gauranteed level and I'm sleeping like a baby,

Stavros_3

Lokolo wrote: »

http://www.dailymail.co.uk/news/article-1063679/Brown-raises-bank-savings-guarantee-50-000-day-turmoil-markets.html

The bit in red made me smile

Quote
Brown confirmed the increase would be included in banking reforms to be put to parliament soon

heygringo

Quote:
Originally Posted by Oblivion
WHOA! It hasn't happened yet. Wait for the confirmation (or denial that this government is so good at) before you break out the champagne

Dave.

http://www.dailymail.co.uk/news/arti...l-markets.html




Nice one Lokolo:beer: So like I said, is that only for cash, or both cash &
S&S investments?