Access to Northern Rock savings

I'm still aboard - fairly sure I'm not the only one?? It would be comforting to know that others are in the same boat and if they have lifebelts. Not sure why but probably inertia. Might change with the dawn of spring.
 
Also still aboard. Give it until Spring and then reassess. Hope they increase the Interest rate to 4.75% or 5% in the new year. Good luck with your investment.
 
Nope, you're not alone. But as I've mentioned before I've accounts with a few other banks & immediate availability of NR savings isn't a necessity so I'm willing to stick with them for the fine rate... & now, bonus interest ;)
 
domadd said:
Also still aboard. Give it until Spring and then reassess. Hope they increase the Interest rate to 4.75% or 5% in the new year. Good luck with your investment.
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They've already increased it to 5% for people with accounts open on December 1st 2007 and only for the months of January and February.
 
I'm still in

I also have deposit with Northern Rock. I have a deposit and also a fixed rate bond which is due to mature in January. Not sure will I withdraw that or re-invest in NR at that stage.
 
Re: I'm still in

http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=502590&in_page_id=1770

Bank of England governor Mervyn King was warned two years ago that Northern Rock was in danger of collapse – but he brushed the concern aside dismissively.

Former Tory Cabinet Minister Gillian Shephard told Mr King she feared a 'day of reckoning' because Northern Rock was consistently offering cut-price home loans.

Mr King responded by telling her she did not understand banking and insisted there was nothing to worry about. The confrontation took place in 2005 when Mr King went to the House of Lords to address Conservative peers...
 
Big Question

Does the BOE Guarantee run out at end of January or end of February???

Is this exra % just to keep people on board aftre the guarantee runs out

Things at the sale of NR are not going well - see www.ft.com

http://www.ft.com/cms/s/0/cf709856-ad9f-11dc-9386-0000779fd2ac.html

"Years of legal battles hold little appeal – but they are preferable to a complete surrender of taxpayers’ interests in Northern Rock."
 
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domadd said:
Also still aboard. Give it until Spring and then reassess. Hope they increase the Interest rate to 4.75% or 5% in the new year. Good luck with your investment.
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me too fingers crossed for an interest rate rise for my savings too any word on when they'll announce any change to it or are they waiting for the ECB? When are the ECB meant to announce any changes btw?
 
cerberos said:
Does the BOE Guarantee run out at end of January or end of February???

Is this exra % just to keep people on board aftre the guarantee runs out

Things at the sale of NR are not going well - see www.ft.com

http://www.ft.com/cms/s/0/cf709856-ad9f-11dc-9386-0000779fd2ac.html

"Years of legal battles hold little appeal – but they are preferable to a complete surrender of taxpayers’ interests in Northern Rock."
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It was announced at the time the Virgin consortium was granted preferred bidder status that there would be three months notice to depositors before the guarantee was removed. There is no immediate prospect of it being removed. It is envisaged it will continue for some time even after any sale or deal is agreed. If they fail to arrive at a commercial solution, then nationalisation is the fallback option and savers will see no change in accessing their funds.

queenlex said:
me too fingers crossed for an interest rate rise for my savings too any word on when they'll announce any change to it or are they waiting for the ECB? When are the ECB meant to announce any changes btw?
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ECB certainly not expected to raise rates anytime soon. It seems likely that NR will raise rates at some stage next year in a bid to rebuild its deposits (provided a commercial solution is forthcoming). If it's nationalised then it's hard to know what will happen. In that event, I wouldn't be surprised to see the Dublin operation wound down and closed*. Or perhaps another bank will take on the deposit book. The best outcome would be if Virgin or Olivant can secure a deal as I feel they would be interested in growing the business here. Can't see a state bank being too bothered about it.

* in an orderly fashion, with everyone getting their money back without any delay. Not sure why I'm clarifying this but somehow feel the need to :)
 
Nemesis said:
ECB certainly not expected to raise rates anytime soon. It seems likely that NR will raise rates at some stage next year in a bid to rebuild its deposits (provided a commercial solution is forthcoming). If it's nationalised then it's hard to know what will happen. In that event, I wouldn't be surprised to see the Dublin operation wound down and closed*. Or perhaps another bank will take on the deposit book. The best outcome would be if Virgin or Olivant can secure a deal as I feel they would be interested in growing the business here. Can't see a state bank being too bothered about it.

* in an orderly fashion, with everyone getting their money back without any delay. Not sure why I'm clarifying this but somehow feel the need to :)
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I have heard a few different views on the rate rise. Four 'unbiased' experts in one of the weekend papers predicted rates would either fall or stay the same but they all worked for either banks or estate agents!

Then Mr Hobbs predicted two rate rises in '08 in one of the sunday papers as well as a few other economists in the same paper predicting various nos. of rate rises as well in 2008!

So there are major differences there though I know Mr. H also is not impartial due to his recent business ventures. Sorry for going a bit off topic there but surely this is not as definite as you suggest especially with Trichet talking about inflation worries surely there is a very good possibility of a rate rise and as a result a northern rock interest rise :)
 
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