is there any chance of Building Society windfalls ever again?

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  • talexuser
    talexuser Posts: 3,499 Forumite
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    Chances now are zero, but in a generation's time it might well get tried again since we never seem to learn from history. Like dumping the spilt between retail and investment banking. That worked well when the credit crunch hit.
  • IanManc
    IanManc Posts: 2,095 Forumite
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    Enigmaman wrote: »
    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.

    "Leeds & Holbeck > Leeds" brought you nothing because all that happened was that Leeds and Holbeck dropped "and Holbeck" from its name!
  • jamei305
    jamei305 Posts: 635 Forumite
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    Most building societies now have a clause in their T&Cs preventing members getting a payout upon demutualisation.

    It's therefore a big waste of £100 to keep an account for only that reason.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
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    Enigmaman wrote: »
    ...but part of me just wants to streamline my finances

    That happened to me too, the "part" in question being my wife. She was probably right.
    Free the dunston one next time too.
  • gardner1
    gardner1 Posts: 3,154 Forumite
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    jamei305 wrote: »
    Most building societies now have a clause in their T&Cs preventing members getting a payout upon demutualisation.

    It's therefore a big waste of £100 to keep an account for only that reason.

    Depends when you opened.....most of the ones I had and the ones I have left haven't
  • SevenOfNine
    SevenOfNine Posts: 2,357 Forumite
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    jamei305 wrote: »
    Most building societies now have a clause in their T&Cs preventing members getting a payout upon demutualisation.

    It's therefore a big waste of £100 to keep an account for only that reason.

    Nope, I've a very old Nationwide one & that clause does not apply to it. I've only ever transferred the money within Nationwide, never w/d to put it into a 'new' a/c. Just sitting on it, a few hundred £, you never know.
    Seen it all, done it all, can't remember most of it.
  • Rich2808
    Rich2808 Posts: 1,332 Forumite
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    IanManc wrote: »
    "Leeds & Holbeck > Leeds" brought you nothing because all that happened was that Leeds and Holbeck dropped "and Holbeck" from its name!

    There was another Leeds (permanent) building society - commonly known as the Leeds - which was taken over by the Halifax in 1995. All their branches were rebranded as Halifax.

    https://en.wikipedia.org/wiki/Leeds_Permanent_Building_Society

    Leeds Building Society was known as Leeds and Holbeck pre 2005 - they borrowed the name.

    But Leeds and Holbeck and Leeds were the same - just as the Saffron Walden Herts and Essex became Saffron. Shorter names - more memorable.
  • Lorian
    Lorian Posts: 5,707 Forumite
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    Makes me wonder what happened to Ord.

    Probably showing my age.
  • 18cc
    18cc Posts: 2,120 Forumite
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    ... and Nationwide-Anglia became Nationwide (I think).
  • 18cc
    18cc Posts: 2,120 Forumite
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    Greedy account holders aka carpetbaggers.
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