Bradford and Bingley

johnbfan

Im finding this rather stressful. Got other worries at the moment and this is a bit of a straw thats breaking the camels back.

Just needed some reassurance - thanks for that.
Sometimes you need to hear it straight from the horses mouth.

ad44downey

meanmachine wrote: »

Expect this one to be taken over soon. But by whom? And for how much? A one quid quickie takeover perchance?

Makes 88p a share look incredibly toppy.

Ireckon £1 seems a bit generous. But someone might be willing to pay it. I'd have thought 50 pence would be about fair value though.

meanmachine_2

johnbfan wrote: »

Im finding this rather stressful. Got other worries at the moment and this is a bit of a straw thats breaking the camels back.

Just needed some reassurance - thanks for that.
Sometimes you need to hear it straight from the horses mouth.

Don't worry - look what happened to the savers at NR. They ended up with their money in probably the safest bank on the planet.

If it really worries you, move your money to another bank - you don't have to do it first thing tomorrow morning, but look to do it in the next few days/weeks.

LloydsTSB and HSBC are both banks that, compared to others, are in ok shape.

Lavendyr

johnbfan wrote: »

I have about £10,000 in ISAs with B&B and thats my life savings. Not much to show for 30 odd years of work but if my losing that makes you laugh - go ahead. Guess I've got nothing to worry about as the state will take real good care of me.

The FSCS protects £35k per institution, so you wouldn't lose your £10k even if B&B did go under. And if you're that worried, there is nothing stopping you from transferring your ISA to another provider.

baby_boomer

I'm not quite so cynical as some.

Having to explain & justify B&B's financial position to the media would have given most people a heart condition .

deaglecat

Lavendyr wrote: »

The FSCS protects £35k per institution, so you wouldn't lose your £10k even if B&B did go under. And if you're that worried, there is nothing stopping you from transferring your ISA to another provider.

Trouble is it takes so long to transfer an ISA... this is a difficult one - I wouldn't personally want to rely on the FSCS eventually paying out.. but then again loss of tax relief on the interest is not good. Sorry but I don't really see an obvious move here... it is a risk trade-off - guaranteed loss of tax relief vs risk of waiting for FSCS vs worry whilst BB being taken over or trying to tough it out..

BB is a train wreck ! Until there is some clear laws against financial institutions misleading the public (e.g. claims of no imminent rights issue !!) then mis-trust will rule the roost.

Deag

Mikeyorks

Where does a loss of tax relief ..... let alone a

deaglecat wrote: »

guaranteed loss of tax relief

..... come into the equation?

Lavendyr

deaglecat wrote: »

Trouble is it takes so long to transfer an ISA...

Depends on the providers involved, but it really doesn't take that long, and you should only lose a day or at most two of interest in the transfer - worth it for a bit more peace of mind IMO. I transferred from NS&I to Icesave in February this year and it took a total of 16 days from the day I sent the transfer form off to Icesave to the day the money was showing in my Icesave ISA. Of those 16 days, the money was in transit (i.e. not earning interest in either institution) for a total of 2 days.

deaglecat

Mikeyorks wrote: »

Where does a loss of tax relief ..... let alone a



..... come into the equation?

Sorry, I should have been clearer. To get the money from an ISA quickly i.e. to cash it in (not transfer it) then you are guaranteed to lose the tax relief on the future interest on the investment which has been built up to date....wheras to transfer the ISA (which takes some time) then the tax situation is preserved.

TRUSt_NO_1_2

Share price going to 0
Run on B&B soon I think.