Paphos People

According to CNN, Halifax are now in talks with TSB due to financial pressure.

Where will this end?

Tiggy

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Life is what you make it.

Helen

Been on news all day also folk withdrawing cash and northern rock was even mentioned as a similar scenario.

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Scary news!

Tiggy

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Life is what you make it.

Helen

My sister has withdrawn all her money out of the halifax today I am thinking of buying a safe to put my money in, I think this might be a safer way to keep my cash

i bank with he halifax and always have done( have a small amount of savings with them also!!!)...should i be worried?

i also have my mortgage with northern rock!!


i also paid for my easter flights on a visa debit card!!!


seriously do you think i should be worried???????

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Kathryn x

Here we go mark northern rock all over again.If olk do it could have negative effect and be a northern rock again.The governement is involved this time and we have mortgage with them.Halfax that is but no savings.

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

To be honest i not sure ? But if i was you i would take out all your saving just in case. It ok for people to say do not worry or don't take your money out, but it your savings, your money you had worked for, hard earned cash. If there a risk of them going bust, do not risk it, buy a safe

I am with Abbey so if i hear they are in a bit of bother, i will be the first to ring up and order all my money out, as i not a risk taker i have worked very long hrs for my money

Shouldn't this be in the new section ?
I thought the first £35,000 was safe.
If you have more than that in one account move some to another account preferably with a bank/building society with no links at all to the other bank/society where your monies are.
But I'm not an expert.
Gary

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So close yet so far away

Yes, this should be in the new Money Matters section; however, to say you should pull your money out of HBOS is just plain daft - it has a mountain of cash!!

The merger with Lloyds should create a lot more certainty over HBOS and will create a financial institution that can't be allowed to fail - the govt. certainly won't be buying this one out because its too big, but they have more or less told all parties "do the deal and the rule of law will be suspended in your case", so you can put your shirt on a deal being done by tomorrow morning...................and if the shares are undervalued (I've heard less than 275p) there is a good chance of a counterbid by someone like HSBC, and then watch the bidders try to get in on the act, and watch the share price soar!!

chris

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Merda taurorum animas conturbit

Well explained chris better than i could..maybe should get other half to join as she is in this field.Keep asking her

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Chris, I pointed out I was not an expert. What I meant was that it may be advisable if you had more than £35,000 in one account with any UK banks/institutions to move your money above £35,000 around.
There are at least 15 accounts that will give about 6% I believe. There again anyone with this amount of monies saved will already know this.
Gary

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So close yet so far away

I think an amount of caution should be shown on the board in the giving of what may be construed by others as Financial Advice. This area is now heavily monitored and a person must be registered (in the UK) for the giving of financial advice. Just be careful. It would be best that opinions are expressed, but advice left to pm and the proper persons.

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Straight talking, no Gimmicks.

Live your dreams.

Correct Tanny, which is why this post would have been better placed in the new Money Matters section, where the first post states:

"Any posts or responses in this section are the sole responsibility of the author of that post or response, and in no way reflects the views or opinions of anyone else, including but not limited to, the owners of the PaphosPeople Forum. The owners of this Forum accept no liability whatsoever for any advice given in this section. If you seek to rely on any advice given in this section, you do so at your own risk, and you are strongly advised to confirm any information given with your own Independant Financial Adviser, or any other Finance Professional of your choice."

Chris

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Merda taurorum animas conturbit

BBC Headline:

"Lloyds TSB is to take over HBOS in a £12bn deal which will create a banking giant holding close to one-third of the UK's savings and mortgage market.

The firms' boards agreed on Wednesday to a deal, to be formally announced later, valuing HBOS at 232p per share."

There ya go - deal done by the morning

chris

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Merda taurorum animas conturbit

There was a documentary i watched recently called something like "Why the banks always win" where the main plot was that the traders and executives make vast sums of cash (including huge "buy a ferrari" bonuses when they don't even hit the set targets - nice work !) whilst the banks report losses or have other stability issues.

Because of the key importance of the private banks to the economy the government is not able to allow the bank to "go under" at any costs because the fallout is literally catastrophic. So you take a loan with a company that uses your house as security on the sum loaned, they then use the value of your house in risks to gain nice income(s) and when they fail to make a profit or over expand the government steps in and uses the tax payers cash to provide a service to the tax payer, whilst the bank execs & traders walk away with miw-wions rodney!

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My opinion; worth price charged.

Sucks doesn't it!!

chris

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Merda taurorum animas conturbit

i wasnt looking for financial advise and will certainly not hold anyones opinion on this thread as gospel, it just occured to me when this thread was posted...oh no not another company im involved with under question.
thankyou however to all who have explained things on the thread....the answer to my question is no i am not gonna worry bout it!!!( well maybe about my flights, only as i dont want to lose out on a trip to cyprus...globespan seem secure for now though!)


as for my savings it certainly isnt 35,000+ so i dont think i need to worry bout them either!!!

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Kathryn x

Hi Kathryn

I sort of read your 1st post on this subject as you being a bit tongue in cheek. Was that the way you intended? After all when you have been hit several times you sort of dulled by it all don't you.

Our UK mortgage is with Halifax but I have become so philisophical since we started out on the buying in Cyprus route. After all we start paying for our CY mortgage in Oct for a house that we were due to receive keys to on 31st Oct (whilst out on our next trip) At this moment there are not even peg markings in the ground but that is another story.

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Bev

[What if the Hokey cokey is what it's all about

hi bev,
im not quite sure what i meant, it literally just dawned on me that all these facts might be stacking up against me!
up til yesterday i was not worrying about it, but then i thought maybe i should. stevie and i just plod along working for our wage i make sure the bills are paid and we try to put a wee bit aside every month for a rainy day, as a nurse practitioner and a security guard neither of us are that up on the financial market, and to be honest although i regard my self as semi intelligent and have a degree in nursing i dont understand a huge deal of financial jargon!!!
anyway have been watching phillip and fern on 'this morning' and there was a chap on there explaining things quite well, so for now i think i wont worry!!!!

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Kathryn x

See daytime tv is good for us &we are on on pp
Tricia

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new me new life, , never forget my cyprus life and friends .

tricia,
i think it is called multi tasking ...what us women do best!!!!
i am sure you can manage to pack a few boxes as well as watch tv and vet pp!!!!

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Kathryn x

Tea in right hand, biscuit in left, specs perched on nose.



Hardly multi tasking.



Now try listening with one ear, ignoring with the other, blanking out the noise with one half of the brain, daydreaming with the other, looking at page 3 with the third half of the brain, scratching ones bits with both hands, and just doing what you want to do regardless...

Now thats a real talent for multitasking... us men do it best.

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Straight talking, no Gimmicks.

Live your dreams.

Moved this thread to money matters ..

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Looks like the powers that be are considering action .,...




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Bolted, Stabledoor, Horse springs to mind

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My opinion; worth price charged.

Same government, same regulators, same dealers, same investors, same potential to make money.

Its more wind and pysh as we say. They will simply prohibit one specified manner of trading but others will evolve unregulated to replace it. The government really hasnt got the will or intellectual ability to adequately monitor the situation.

However the good news is that many traders and hitherto useless investment bankers (rhymes with..) have new tasks lined up which will involve several hours or filling in forms by hand rather than by pc/copy/paste/pretend were working. Its called Signing on..............

Or is the situation really not as bad as has been initially reported. How many jumpers have we seen in this crisis, compared to other crisis'. This has simply served as a way where banks can divest themselves of thousand of jobs and costs and blame someone else.

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Straight talking, no Gimmicks.

Live your dreams.

I know my son is extremely worried as he works for the Halifax ~ there's no way that Loyds TSB will keep Halifax branches open when they are in close proximity to their own branches ~ he's expecting a lot of Halifax branch closures

Bill