bank with santander?

[hushpower]

just a qwick word , santander are in the mire ,they took over aliance leister an couple others. bank of england only cover £50,000 in losses. so check who you bank with own ,or are owned by . am too tired to explain,gud nyte

[RC45]

If only I had £50k

[markm]

The barstools owe me £200.

[besty57]

got my mortgage with them .hope they dont want it all back in one go.

[V8landy]

Thats Ok I only have £49,999.99

[RC45]

Thats Ok I only have £49,999.99

 

 

[Marcus]

just a qwick word , santander are in the mire ,they took over aliance leister an couple others. bank of england only cover £50,000 in losses. so check who you bank with own ,or are owned by . am too tired to explain,gud nyte

 

NOT keeping more than £50k with any one istitution is good advice what ever the economic outlook is. Northern rock customers have also recently lost the 100% savings guarantee, now its just the £50k safty net.

[artschool]

i have my mortgage with them. maybe they will lose that

Edited May 26, 2010 by artschool

[RC45]

Don't mention Mortgages....

[MM]

ive not heard anything about them doing badly. care to explain?

[SXPhil]

Scaremongering post I M H O

 

although if you do have more than £50k you should spread it between banks

[rocksaplenty]

Scaremongering post I M H O

 

although if you do have more than £50k you should spread it between banks

 

Or stick it all in NS&I direct saver @2%

[Catamong]

How can they possibly be "in the mire" if they offer 0.5% interest on most of your savings accounts, yet charge 5.5% on most of their mortgages...?

 

Santander have never had it so good, like all Banks, the Government have let them off the hook, just wait till they publish their next set of results.

 

Cat.

[Cranfield]

How can you take anyone seriously that posts, "am too tired to explain,gud nyte" , at 10.09 pm.

[RC45]

How can you take anyone seriously that posts, "am too tired to explain,gud nyte" , at 10.09 pm.

I hope he had his Horlicks...

[Guinea Fowl]

NOT keeping more than £50k with any one istitution is good advice what ever the economic outlook is.

 

What if you won the Euro Millions

[DSPUK]

10.09 - I beat him by 10min -- there again I am in training for Saturday.

 

Don't forget Greece is in poo and they recon Spain could be next. -

 

Dave

[Cranfield]

All Banks with exposures in Europe (which is all Banks), will be nervous of the GDP of countries like Greece (obviously), Spain, Portugal, Ireland, Italy and a few others.

That does not mean that any of them are liable to collapse, it was only a month or so ago that many were announcing record profits and cash reserves.

When the double dip in the economy comes (and I think it will), I believe Santander will be better placed to withstand the pain than almost any other High Street Bank.

 

http://news.bbc.co.uk/1/hi/business/10150007.stm

[RC45]

What if you won the Euro Millions

You could buy Nat West bank then

[PhilR]

I think what the OP was trying to get at before falling into the arms of Morpheus is this.

 

If you had saving accounts with Abbey, Alliance & Leicester and other other financial institution you had a safety net of £50k with each and every one of them prior to Santander's purchase. However, now that they are all under the Santander umbrella you only have a safety net of £50k in total.

 

I received a letter from Santander explaining this as my mortgage is with Abbey and have savings with A&L, unfortunately under £50k

[Marcus]

Or stick it all in NS&I direct saver @2%

 

Really??

inflation is currently running above 2% - so your happy to invest money knowing its being erroded in real terms?

 

Inflation

April 2010: CPI 3.7%, RPI 5.3%

[Dr W]

I read somewhere that NS&I were offering a product that tracked inflation and so was paying something like 6.3% for a 2 or 3 year period but you could get your money out at any time (with interest penalty).

 

Sound advice to spread your money around,

[covlocks]

Really??

inflation is currently running above 2% - so your happy to invest money knowing its being erroded in real terms?

 

If you know a bank paying more than 2% in real terms that would be good. All the "good deals" I have see carry a little sting in the tail like "we will pay you 6% a year but only on the first £2000 and then f all""

[rocksaplenty]

If you know a bank paying more than 2% in real terms that would be good. All the "good deals" I have see carry a little sting in the tail like "we will pay you 6% a year but only on the first £2000 and then f all""

 

I don't trust any of them, none of them seem to pay the interest that they said they would and i can't be bothered to try and work out their calculations. At least with the NS&I your cash is in the Bank of England.

[guest1957]

Really??

inflation is currently running above 2% - so your happy to invest money knowing its being erroded in real terms?

 

Inflation

April 2010: CPI 3.7%, RPI 5.3%

 

This is the idea behind having such low interest rates. The BofE assumes that people will notice they may as well spend as opposed to save and the money pumped into the economy from this additional spending will (in theory) boost the economy. Interestingly it has been noted that the low level of savings within the UK economy is part of the reason why we were on of the worst placed countries to face the financial crisis (despite the mutterings of Brown and co.)

 

Also, having higher inflation at a time when there is a large deficit benefits the government because it reduces the value of the debt in real terms. South American counties used to the famous for running high inlfation regimes as it meant that what they owed in real terms reduced at a faster rate than what they were paying in interest. Not a fair tactic though...