Icesave- Martin is wrong.

ianmr65

calisto

ianmr65 - well it took a month of no contact from Icesave for this lemming to quite happily jump off the icelandic volcano and into the ire.

Doesn't it worry you that they are resorting to sending press officers to send messages on bulletin boards? Seems like a bank run in progress to me... Internet stylee...

Of course perhaps you don't have much in there, certainly beyond the FSCS compensation levels, and so are just trolling?

Even your Hero was on Radio 2 this afternoon espousing Northern Rock as the safest bank to keep a large deposit in.

ianmr65

Hello...[sound of knocking on people's heads]

What do we think the impact the following is gonna have on the banking/housing sector in the UK:

"Third of UK housing deals fall through...

HBOS, the UK’s biggest mortgage lender, on Friday increased its minimum deposit to 5 per cent from 3 per cent, and said it would penalise those borrowers putting up less than a 25 per cent deposit on the property."

http://www.ft.com/cms/s/0/5c7f9eaa-028b-11dd-9388-000077b07658.html


Also Northern Rock's future depends on EU approval of the march 17 business plan. If that falls Northern Rock will have to be wound up.

And what do we think is gonna happen when the next UK bank fails?, because one will. HBOS came within one day of defaulting.

Ever built a house of cards?

calisto

ianmr65 wrote: »

Hello...[sound of knocking on people's heads]

What do we think the impact the following is gonna have on the banking/housing sector in the UK:

"Third of UK housing deals fall through...

HBOS, the UK’s biggest mortgage lender, on Friday increased its minimum deposit to 5 per cent from 3 per cent, and said it would penalise those borrowers putting up less than a 25 per cent deposit on the property."

http://www.ft.com/cms/s/0/5c7f9eaa-028b-11dd-9388-000077b07658.html


Also Northern Rock's future depends on EU approval of the march 17 business plan. If that falls Northern Rock will have to be wound up.

And what do we think is gonna happen when the next UK bank fails?, because one will. HBOS came within one day of defaulting.

Ever built a house of cards?

I totally agree! But NR is in the unique position of having 100% of its deposits guaranteed by Gordon and chums. Just like NS&I.

Do you really believe that the EU will rule on state aid next week? Get real - the timescales of EU anti-trust and state-aid cases finally getting judged (and ignored) is around 10 years. Its nothing but a lawyer-fee / politico back-hander fest.

I can see house prices crashing big style. Banks are going under. Iceland is not immune. Forgive me for protecting my capital (though its rapidly losing its worth as sterling is already considered shafted anyway!)

ianmr65

calisto wrote: »

Doesn't it worry you that they are resorting to sending press officers to send messages on bulletin boards? Seems like a bank run in progress to me... Internet stylee...

.

Well being as the guy was from the ICEsaves UK press office, and not brilliantly well informed, no.

And either they are opening 1000 new accounts a day, which might explain the delays, or they are lieing, which i find unlikely.

And being as 50% of their depositors are Icelandic, and bank in person, and 20% are from the UK, many with fixed deals. and we have't seens loads of icelandic citizens queing to withdraw there money, no i don't think there is a bank run going on.

The first article in the british press about the safety of the icelandic banks appeared sometime in january. They have all been ill-informed, and pretty one sided and i believe pushed out by the speculators. Recently the FT stepped in to restore some balance.

It's now april. If anything the icelandic banks are getting stronger. Meanwhile the UK banking (especially mortgage specific) sector is imploding.

Now as to trolling. I understand that you have been frustrated by Icesave.
But people have been posting scaremongering stories on MSE about iceland for weeks. And being as there are a few of seriously rich people who stand to gain a lot of money if one of these banks does fail, you can understand why your sort of post is treated with a degree of suspison.

Lastly Martin is not my Hero, I think he is cute, in an entirely non-sexual way, you understand. And he is doing a good thing in trying to get the mass of the financially illiterate (or should that be in-numerate) Uk population to think about their finances.

ianmr65

calisto wrote: »

I totally agree! But NR is in the unique position of having 100% of its deposits guaranteed by Gordon and chums. Just like NS&I.

Do you really believe that the EU will rule on state aid next week? Get real - the timescales of EU anti-trust and state-aid cases finally getting judged (and ignored) is around 10 years. Its nothing but a lawyer-fee / politico back-hander fest.

I can see house prices crashing big style. Banks are going under. Iceland is not immune. Forgive me for protecting my capital (though its rapidly losing its worth as sterling is already considered shafted anyway!)

I was myself recommending Northern Rock Gurnsey to a non resident earlier on, as a 100% safe place for his invetsments, with the EU caveat.

And you are perfectly right to want to safeguard your capital. (I'd buy a good chunk of gold btw). I'd be doing the same in your position, but posting pictures of Comical Ally (Who you have to admire, as he got out, and it made him famous) cos your fruustrated at Icesave is maybe not the best way of making your point.

home_alone

Well I am still ploughing my savings into icesave, just can not believe some of the posts on this forum, give me strengh.

gary

earlgrey_3

Lavendyr wrote: »

I'm very glad that you're now clear on everything and that you now understand that I did also say what *I* quoted.

It was not a question of what else you might have said afterwards, just curiosity that you apparently couldn't remember what you had said.

Lavendyr wrote: »

Who said that? If you mean my posts, I actually said:

The answer to your question was you said that, daft though it was, and was just as I quoted.

You've remembered you did say what I've quoted, hurrah, I accept that you now realise it didn't make sense, now let's not bore others with this rubbish any longer.

Lavendyr

calisto wrote: »

I totally agree! But NR is in the unique position of having 100% of its deposits guaranteed by Gordon and chums. Just like NS&I.

I guess it depends on what you're looking for. Of course, if you want 100% guarantees, NR and NS&I are ideal for that (and NS&I, having used them last year, have good customer service to boot - can't speak for NR). But their rates and guarantees on rates are not as good as elsewhere, typically, though I believe NR has or had a few that were close.

I actually moved my ISA out from NS&I to Icesave before all this fuss about Icelandic banks came about. So far I seem to be one of the lucky few to have had good customer service from Icesave, though I think it was just lucky timing that I got in and got the ISA before the flood. I genuinely think their back-office admin (which is administered by Newcastle BS I think) is flooded with ISA applications at the moment, and that is absolutely no excuse for bad service, but I think it is more likely to be the cause of any customer service problems than any financial situation they are in.

talana

Well I am still ploughing my savings into icesave, just can not believe some of the posts on this forum, give me strengh.

Totally agree.
- There's been a hell of a lot of rubbish posted about Icesave with no real justification.
- Barring future developments, surely the subject has been talked to death now?
- And as for customer service complaints, I'm sorry but that's a completely separate issue.

As an aside, I don't put too much wider significance on customer service complaints, regardless of which bank is the subject. NOT because I doubt for a moment the truth behind most complaints, but because they're very much personal issues.
For every person who says "xxx bank are useless and rude, don't touch them with a bargepole" there will normally be another who says "I've been with xxx bank for 10 years, never had a problem, they're courteous and helpful" or some such.
:rolleyes: