is there any chance of Building Society windfalls ever again?

Options
Enigmaman
Enigmaman Posts: 268 Forumite
First Post First Anniversary
in Savings & investments
I expect this question has been asked before, but I have been keeping two BS accounts open in the sole hope of obtaining a windfall.

I have done very well out of various institutions' demutualisations and takeovers in the past, but is there any chance of either the Leeds or the Nationwide ever going that way, and even if they did, as the rules stand is there any chance of getting something out of them?
«134

Comments

  • ColdIron
    ColdIron Posts: 9,052 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    About zero I would say
  • 18cc
    18cc Posts: 2,120 Forumite
    Options
    Exactly zero I would say!
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    Options
    How successful were the building societies that became banks?

    Northern Rock
    HBOS
    Alliance & Leicester
    Bradford and Bingley

    Ah, they all went bust. I wouldn't expect it to ever happen again.
  • Linton
    Linton Posts: 17,172 Forumite
    Name Dropper First Post First Anniversary Hung up my suit!
    Options
    Very sad - a brilliant well-proven concept largely destroyed by political dogma and greedy management.
  • Voyager2002
    Voyager2002 Posts: 15,285 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    Linton wrote: »
    Very sad - a brilliant well-proven concept largely destroyed by political dogma and greedy management.

    Not to mention greedy account-holders...
  • IanSt
    IanSt Posts: 366 Forumite
    Options
    Maybe there may be a chance in 30+ years when people start saying 'this time it's different'. :rotfl:

    But at the moment I'd say it's as close to zero as to make no difference. :)
  • Glen_Clark
    Glen_Clark Posts: 4,397 Forumite
    Options
    Short answer is No.
    I profited from most of the demutualisations but years ago closed the accounts I had only in case of demutualisation.
    I can't explain why without being accused of getting involved in politics.
    “It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair
  • gardner1
    gardner1 Posts: 3,154 Forumite
    edited 12 January 2018 at 1:08PM
    Options
    Voyager2002 wrote: »
    Not to mention greedy account-holders...

    But when we greedy account holders were offered £1500 plus.......what would you do
    In the plain light of day what was offered would take a very long time to make in interest so in my case it was a no brainer....take the cash or shares and move on to the next one.
    I just wish at the time i had more money to open more accounts as i missed a few which had high account balance limits but got most of the juicy windfalls

    In answer to the OPs question........not for a very long time,i only hold Nationwide,Leeds,Coventry,Yorkshire and West Bromwich with £100 in each and will end up just keeping 2 or 3
    Back in the carpetbagging days i had most except the hard ones to get.....Swansea and the Cumberland
  • Enigmaman
    Enigmaman Posts: 268 Forumite
    First Post First Anniversary
    Options
    There is just the nagging doubt...but part of me just wants to streamline my finances and having these accounts feels like excess baggage. I'll probably close the Leeds but keep the Nationwide. After all Leeds & Holbeck > Leeds brought me £0.00.

    I don't want to get into the politics either but as someone said above, who would not want to make such easy money? I had three foreign holidays out of the proceeds of the A&L. Without that I would never have traveled anywhere much in my life.
  • jimjames
    jimjames Posts: 17,620 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Options
    18cc wrote: »
    Exactly zero I would say!

    Most recent was Kent Reliance. They pretended it would benefit account holders but essentially they gave the building society to venture capitalists (JC Flowers)
    Remember the saying: if it looks too good to be true it almost certainly is.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards