Advice needed have a fixed bond with HBOS has about 7 weeks to go, was a 6 month one.
At first they wouldnt let me cash it out but now they will with the loss of all interest about 5k
What would you do?
Full Version: Hbos
wait take the interest the government gurantees all deposits but probably not the interest u might get...?
QUOTE (MarkyB @ Sep 30 2008, 05:35 PM) 
wait take the interest the government gurantees all deposits but probably not the interest u might get...?
The Bond is for 260k
i've got one for 100k with them maturing in 5 weeks.
i'm going to sit tight although when it matures, the new rates are less, so i'll move it and split it then.
for 250k you could also talk them up a bit (depending on your manager) when it matures - they say no, then they say yes if you don't blink.
look on the bright side - if they go down - you'll be able to buy fast cars & flash women or fast women & flash cars for next to nothing because all credit will seize up and many people will have to dispose of assets quickly.
the real question is whether you can continue to generate cash in the coming storm. i had 350k suspended in etfs for a week and went into a cold sweat for an afternoon, wondering how i'd tell the wife, but then i thought, well if the etfs go down there will be chaos and in chaos i will make a lot more than 350k.
we live in democracies where governments refuse to inflict any pain on people for either their mistakes or the people's. that means they'll probably print the money off the presses and refund...
TJ
i'm going to sit tight although when it matures, the new rates are less, so i'll move it and split it then.
for 250k you could also talk them up a bit (depending on your manager) when it matures - they say no, then they say yes if you don't blink.
look on the bright side - if they go down - you'll be able to buy fast cars & flash women or fast women & flash cars for next to nothing because all credit will seize up and many people will have to dispose of assets quickly.
the real question is whether you can continue to generate cash in the coming storm. i had 350k suspended in etfs for a week and went into a cold sweat for an afternoon, wondering how i'd tell the wife, but then i thought, well if the etfs go down there will be chaos and in chaos i will make a lot more than 350k.
we live in democracies where governments refuse to inflict any pain on people for either their mistakes or the people's. that means they'll probably print the money off the presses and refund...
TJ
If your bond is 260k then wait until it matures but it’s still depend on you.
Togo Joe has a bright idea in gaining more than 350k but you must be ready in some circumstances.
Togo Joe has a bright idea in gaining more than 350k but you must be ready in some circumstances.
I've got £150k in one bond that matures in Jan '09 and I've certainly spent a few nights worrying about that, but finally decided to leave it. As others have said, if HBOS defaults on its obligations to its savers then the UK banking industry will collapse as savers withdraw their funds from banks left, right and centre; meaning we will have bigger problems o worry about !
Over the last 3 months or so I have been closing done various Halifax websaver accounts and moving the money in £35k chunks to other institutions (and a little cash 'under the matress' just in case
)
When the bond matures I will likely move it or break it up unless the turmoil is over for LLOY & HBOS.
Basically I think we need to hold our nerves until maturity and then think defensively for the future.
Over the last 3 months or so I have been closing done various Halifax websaver accounts and moving the money in £35k chunks to other institutions (and a little cash 'under the matress' just in case
) When the bond matures I will likely move it or break it up unless the turmoil is over for LLOY & HBOS.
Basically I think we need to hold our nerves until maturity and then think defensively for the future.
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