Jump to content
House Price Crash Forum

Recommended Posts

I have asked this Q before but without much response so I am still trawling through webpages trying to work out where to split the money from the sale of our property until we buy another property. (I know the money in theory is protected but we all know that the FSCS couldn't provide bailout money for one big bank/building society let alone 2 or more). So does ethical equal safer? Whether a bank or building soc is ethical wont make much difference will it if there is a shed load of defaults on loans and repossessions due to mortgage defaults. Or does it make a difference? Do ethical banks /building societies have better models which will help them withstand the current recession? 

Coventry is up there in the ethical stakes but HPC posters have recently said that they see Coventry going along with Nationwide and Yorkshire. We don't want to put all our money in NS&I . Any ideas where we can put it for about a year?


Thanks:O)

Link to post
Share on other sites
3 minutes ago, richmondtw said:

Why would it be safer ? 

You have to remember that I know NOTHING about anything, but in my own completely muddled way I was thinking that MAYBE just MAYBE ethical banks/building societies would have better buffers/ better ways of lending balanced with deposits etc? I just wondered if the ethical feeds through to the organization of funds and a more responsible way of holding/lending money. 

Link to post
Share on other sites
On 12/08/2020 at 10:19, Dweller said:

So does ethical equal safer?

No, it's a marketing fig leaf.

The 'ethical' Co-op Bank (for example) engaged in just as much sharp practice as any other UK retail bank.

Link to post
Share on other sites
On 8/12/2020 at 10:19 AM, Dweller said:

I have asked this Q before but without much response so I am still trawling through webpages trying to work out where to split the money from the sale of our property until we buy another property. (I know the money in theory is protected but we all know that the FSCS couldn't provide bailout money for one big bank/building society let alone 2 or more). So does ethical equal safer? Whether a bank or building soc is ethical wont make much difference will it if there is a shed load of defaults on loans and repossessions due to mortgage defaults. Or does it make a difference? Do ethical banks /building societies have better models which will help them withstand the current recession? 

Coventry is up there in the ethical stakes but HPC posters have recently said that they see Coventry going along with Nationwide and Yorkshire. We don't want to put all our money in NS&I . Any ideas where we can put it for about a year?


Thanks:O)

Realistically if FSCS didnt cover the first 85k of a bank that went under, after all the other controls had broken to enable the bank to collapse, we would more to worry about than bloomin house prices. It's not really about "cash reserves" of a scheme for that kind of event the government would step in with printed cash as a last resort. 

If its just safety for a year, premium bonds, then spread it around as many banks until you feel safe... Hassle but as current accounts are free and interest would be a pittance thats all you are losing. 

Anyone who sticks all their cash into bitcoin for safety... Just bizaree. 

Edited by captainb
Link to post
Share on other sites

My halfpenny’s worth:

Due to QE/FfL/vote buying, the IR’s rates on offer from ANY financial Institution are so poor you’re “better off” chucking the money in NSI, and bunging a “proper” charity some real money.  Green washing is so common we would have seen Jimmy Savile babysitting.  At least with NSI your know they can leave the copier on longer.

Link to post
Share on other sites
3 hours ago, “Nasty Piece of work” said:

Any reason?, other than they make Hitler look ethical.

Again, probably due to not understanding anything about financial institutions, it was based on spread and not putting all eggs in one basket. 

 

 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.