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)
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5 thoughts on “Another building society on the ropes

  • 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.

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  • ….silly s*ds.

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  • 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.

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  • Obviously the professional loans were being offered by a not particularly professional bank.

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  • holding out says:

    Gordon Brown’s constituency is Dunfermline East so sage council is always available.

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