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Roman Abramovitch

Is All Well At Halifax (hbos)?

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My view is that HBOS is in more than a spot of bother.

Their share price is dropping and Abbey are preparing a bid despite the denials.

Happy days !!!!!!!

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Apologies I forgot this piece from Timesonline

Abbey, the Spanish-owned high street bank, has overtaken HBOS as the UK's biggest lender of new mortgages, supplying 26 per cent of all home loans taken out in the first half.

But Abbey's parent company, Santander, said that it was not interested in further increasing its British market share by making a bid for HBOS.

The bank agreed a £1.3 billion takeover with Alliance & Leicester (A&) this month and had been rumoured to be working with a consortium planning a bid for HBOS.

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Yeah I can't see Santander being allowed to monopolise the mortgage market so HBOS will be broken up I guess.

Then again the FSA might not like breakup of HBOS either.

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Apologies I forgot this piece from Timesonline

Abbey, the Spanish-owned high street bank, has overtaken HBOS as the UK's biggest lender of new mortgages, supplying 26 per cent of all home loans taken out in the first half.

But Abbey's parent company, Santander, said that it was not interested in further increasing its British market share by making a bid for HBOS.

The bank agreed a £1.3 billion takeover with Alliance & Leicester (A&) this month and had been rumoured to be working with a consortium planning a bid for HBOS.

I can't see Santander being allowed to takeover HBOS becasue of the competion issues on having such a large share of the mortgage market... then again if its going down (which I don't think it is) then the govt could I suppose turn a blind eye (if competitors allowed it to).

I suppose a consortium could do it if someone else wanted the bits that would cause santander competition problems.. eg LTSB could take on BOS as I don't believe it has a large cc share in scotland currently , its mortgage book wouldn't be too badly affected by taking on the bos scottish bits and it doesn't play in thrid party land..... HSBC who want to extend their mortgage exposure could take on the mortgage book and perhaps some branches , the rest of the branches could be converted to Abbey to run current accounts and savings and they could add the HBOS credit card business to their own as theirs isn't significant, the commercial bits of the business could perhaps find a home with Abbey or indeed HSBC but probably not LTSB.. or I suppose a foreign bank could be involved.... I should think RBS probably wouldn't be involved or Barclays for obvious reasons.

All in all I suppose if I was to try and call it I would say HBOS will stay as master of its own destiny, but things move so fast and its not really my area... the city boys will have a real feel for the prospects of a takeover of HBOS.

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  • 399 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%



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