Any carpet-baggers out there?

s71hj

Does anyone have any experience as to whether building societies have demutualised / merged, holders of joint accounts BOTH get a windfall.

ReportInvestor

They don't. The first named on any account is the voting member with associated rights.

I had two accounts at Northern Rock.

One in my name and one in joint names (unfortunately with mine first). There was only one windfall paid in respect of both accounts and the 500 shares are now worth about £6,000 - excluding a very healthy, rising dividend.

Robert_Sterling

Mr and Mrs Stirling have two joint accounts with a number of societies.
One a Mr and Mrs the other a Mrs and Mr.

ReportInvestor

What a reliable "old hand" you are, RS .

Afahmaep

cuffie wrote:

Not sure if this is the right place to put this...
We opened accounts quite a few years ago in case building societies converted... eg, Portman, Norwich & Peterborough, Saffron & Waldon etc. Now we are not sure if we should keep them or not. The interest we are getting each year is rubbish and we are thinking of closing them all and putting the money somewhere else. Is anyone in the same situation?

Hang on for another year at least. A report yesterday from DELOITTE suggested that 5 or so will possibly merge next year although none were specifically identified.

http://www.hemscott.com/news/latest-news/item.do?newsId=38287486137421

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=87630&MenuKey=News.Home

Has anyone got any views on probable candidates?

cheggers

Afahmaep wrote:

Hang on for another year at least. A report yesterday from DELOITTE suggested that 5 or so will possibly merge next year although none were specifically identified.

http://www.hemscott.com/news/latest-news/item.do?newsId=38287486137421

http://www.citywire.co.uk/News/NewsArticle.aspx?VersionID=87630&MenuKey=News.Home

Has anyone got any views on probable candidates?

Cheshire have been mentioned before, and may the Scottish

smigger15

Anyone have any news on Nationwide going plc ? Have been leaving money in but now need to use it and am frightened of taking it out and missing the boat !

quinlanmd

Unlikely (at the VERY least until the Portman merger is fully completed). If you withdraw, make sure you keep £1 in the account just to keep it open ready for you to top up in a few months' time (just in case they decide to sail the boat unexpectedly following the merger).

LittleVoice

£100 safer balance, of course, unless circumstances mean you absolutely must get all your money.

If you want to capitalise interest on your accounts, open another account first (which can be used for your £100 if you wish) and then, a couple of days later close the existing accounts.

eevie

Is the thinking still the same ie to leave the least amount in building society accounts?

I have to leave £250 in the Stroud & Swindon, paying 2.35%, to keep the account open.

I have a bond with Scarborough which matures in Feb, should I re-invest the minimum or close the account when it matures?

Thanks