HBOS shares

fatpig_2

You'll get lloyds shares automatically, you won't have to sell anything.

sabretoothtigger

If you mean 500 pounds worth of shares valued at 2.32p each then yes

How good that price is depends just how bad hbos debt was, seems a bargain to me but I dont have an economics degree or a crystal ball.

A good day for lloyds maybe not really for hbos
I wonder just how bad hbos looked compared to nationwide, so is it back to the bs system?

Looking long term if I wanted a mortgage in the future I would open a current account with nationwide or similar and start getting in their good books because lloyds is offically a monster now

meester

poppy10 wrote: »

Why are Lloyds paying 232p???

Gordo's probably promised to let them sack thousands of people.

meester

dunstonh wrote: »

At 232 HBOS is undervalued and Lloyds are getting it at bargain basement prices.

I don't know how you work that out.

THe value today was below £1. Not even close to £2.32.

The shares were heading towards zero.

A year ago any merger would have taken place over weeks or months, they have had to rush this through as an emergency, fact is they were going bust.

fatpig_2

meester wrote: »

I don't know how you work that out.

THe value today was below £1. Not even close to £2.32.

The shares were heading towards zero.

A year ago any merger would have taken place over weeks or months, they have had to rush this through as an emergency, fact is they were going bust.

Agreed. Lloyds overpaid. They should have held out for £1 or 50 pence. The government would have forced HBOS to accept as if they didn't there'd be long queues outside their branches tomorrow morning and they'd be kaput

poppy10_2

meester wrote: »

I don't know how you work that out.

THe value today was below £1. Not even close to £2.32.

The shares were heading towards zero.

A year ago any merger would have taken place over weeks or months, they have had to rush this through as an emergency, fact is they were going bust.

Exactly. Government must have promised to guarantee HBoS's bad debts. Remember, HBoS was more exposed to buy-to-let, dodgy self-cert and "flexible" mortgages than any other mainstream UK bank. While their current level of arrears was reasonably low, it was bound to shoot up more than any of the other big five. HBoS also "invested" in billions of pounds worth of US subprime mortgage debt, right at the peak of the market. They were doomed.

[Deleted User]

This is going to be extreemly bad for both lenders and savers in the UK as competition will be virtually non-existant. Lots and lots of bank employees will be sacked.

Will be excellent for the shareholders of Lloyds and those that have an average under £5.50 in HBOS.

These banks are just getting bigger and bigger, how long till we own shares in The bank of the world, 50 years?

poppy10_2

Birmingham Midshires are still pimping their "one minute buy to let mortgage application" on their website:

fatpig_2

What about Howard from the halifax. Is he going to get the boot? If he does he should go on the X Factor cos he's a great singer.

12helensp

I'm getting a different opinion of a friend who says that effectively we'll be forced to sell our shares (HBOS)....Im getting more worried as I've a lot of shares