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Another bank I hear are being bought tomorrow
- Thread starter Digweeds Trousers
- Start date
Uncle Buck
Ghost Writer
- Jul 7, 2003
- 28,075
Whilst the mortgages might be sold on to another provider, if a company such as Halifax or A&L were to go under, what would happen to other debts people might have with said institution, such as loans or credit cards?
aftershavedave
Well-known member
same as the mortgage. the debts would be bought by another provider (at some discount) but it would be business as usual for you....
timco
Well-known member
Just found out that my mortgage provider at the mo (Preferred, administered by Capstone) is part of Lehman Bros sprawling spiders web.
Here's hoping the mortgage is bought by a better company who wants to lower rates and not by a corporate shark (you listening UK Government) who will want to hike rates a lot.
Here's hoping the mortgage is bought by a better company who wants to lower rates and not by a corporate shark (you listening UK Government) who will want to hike rates a lot.
My mortgage is with the Abbey. Is that good or bad? 
Kylies Stunt Arse
What?
My mortgage is with the Abbey. Is that good or bad?
Indifferent I think. They're owned by Santander who haven't been mentioned at all in all this.
readingstockport
New member
Have you seen leahmans bankruptcy petition? citibank are in for 138 BILLION dollars.
http://blog.rebeltraders.net/wp-content/uploads/2008/09/show-case-doc.pdf
http://blog.rebeltraders.net/wp-content/uploads/2008/09/show-case-doc.pdf
Perry Milkins
Just a quiet guy.
Ready to chat about whores yet?
<<I'm normally on to talking about football and whores by then>>
My mortgage is with the Abbey. Is that good or bad?
Very very very bad - they are by far the crappiest bank in the world !!!
Lokki 7
WSU
Nope. But buy me 5 pints of beater with whisky chasers in quick succession and you never know. Are you a pimp?
Perry Milkins
Just a quiet guy.
Yes, yes I am and business is booming. Would you have Chantelle Chamoise or Molly MacSqueakie?
Uncle Buck
Ghost Writer
- Jul 7, 2003
- 28,075
After Liquid Hate and Whiskey, he is probably whatever you want him to be.
Lokki 7
WSU
Perry Milkins
Just a quiet guy.
So much pent up anger from a mere young man. Look up to the Cardinal and learn.
Uncle Buck
Ghost Writer
- Jul 7, 2003
- 28,075
I think looking down is probably a better way of describing the great man, mainly as he spends a lot of time falling over...
Perry Milkins
Just a quiet guy.
You want Queen St Lilly then...
Perry Milkins
Just a quiet guy.
He could save us all money on our tax bills during the credit crunch..take heed.
Cian
Well-known member
eh, what about Halifax? Didn't think there was anything worrying about HBOS - yet....
Have my savings account with them and my debts with Bank of Ireland, don't really care what happens to BOI as a result
Uncle Spielberg
Well-known member
Halifax are HBOS which includes Halifax Plc, Intelligent Finance, Bank of Scotland and Birmingham Midshires ( and The Mortgage Business who closed for new business on 22/8/08 ).
Firstly why do people assume other banks and lenders will want to take on the HBOS mortgage book. They are very picky in their lending and basically do not want to know you if you have less than 25% deposit , or not in a secure and stable job and having any adverse credit including 1 missed payment on a credit card.
People saying oh another Bank will take on the mortgage book are woefully incorrect.
Northern rock Plc are encouraging borrowers to f*** off to Lloyds TSB but Lloyds TSB will only take on those they want, ie cherry pick the best one the rest will stay with Northern Rock but will go onto the variable rate when their deal ends.
Consdiering HBOS have between 25-30% of the UK mortgage book there is not the capacity for other Banks to take on that amount of new mortgages.
Also Abbey are probably the strongest Bank and lender in the UK right now, Santander are basically very sound.
Firstly why do people assume other banks and lenders will want to take on the HBOS mortgage book. They are very picky in their lending and basically do not want to know you if you have less than 25% deposit , or not in a secure and stable job and having any adverse credit including 1 missed payment on a credit card.
People saying oh another Bank will take on the mortgage book are woefully incorrect.
Northern rock Plc are encouraging borrowers to f*** off to Lloyds TSB but Lloyds TSB will only take on those they want, ie cherry pick the best one the rest will stay with Northern Rock but will go onto the variable rate when their deal ends.
Consdiering HBOS have between 25-30% of the UK mortgage book there is not the capacity for other Banks to take on that amount of new mortgages.
Also Abbey are probably the strongest Bank and lender in the UK right now, Santander are basically very sound.
seagullsovergrimsby
#cpfctinpotclub
I bank with A&L and I get the impression that when Banco Santander take over they will rebrand it to Abbey over a very short period of time. Looks like there will be thousands of job cuts as operations are streamlined including closing all A&L branches within a mile of an Abbey branch and culling call centres. Originally my current account was with National Girobank which was publicly owned being part of the Post Office. The Government then decided to offload it into the private sector and I believe sold it for a nominal fee (£1 ?) to Alliance & Leicester.