Thursday, March 19, 2009
Another building society on the ropes
Dunfermline Building Society in crisis with £26m loss
"One of Scotland's oldest building societies, the Dunfermline, is on the brink of unveiling a significant financial loss, exposing another of the country's great financial institutions to the threat of a takeover." ... "The Dunfermline was one of the last lenders to pull out of the 100-per-cent-plus loans market, while it also had a considerable exposure to buy-to-let loans and lending to commercial property borrowers."
Posted by quiet guy @ 08:54 PM (984 views)
5 thoughts on “Another building society on the ropes”
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flintster1994 says:
Dunfermlines “Professional” loans were laughable.
As if you should be given a bigger loan because of your status, not your salary.
Snobbery at its worst.
hpwatcher says:
….silly s*ds.
drewster says:
Flintster,
The idea behind “professional” loans was simply that certain careers are more stable than others. If you’re a doctor or a teacher then your job is more resistant to downturns than if you’re a sales rep. Snobbery doesn’t really come into it, I think.
paul says:
Obviously the professional loans were being offered by a not particularly professional bank.
holding out says:
Gordon Brown’s constituency is Dunfermline East so sage council is always available.