Guest JoanneHattersley Posted September 19, 2008 Share Posted September 19, 2008 Been hearing from UK that the Halifax has gone bust. Any truth to the rumour? Any news on whats happening? Link to comment Share on other sites More sharing options...
Guest cazbeckham Posted September 19, 2008 Share Posted September 19, 2008 No heard anything about HAlifax going bust - you must be dreaming Link to comment Share on other sites More sharing options...
joetrac Posted September 19, 2008 Share Posted September 19, 2008 It has been bought over by LTSB ...meaning thousands of job losses...bang goes me getting my old job back on my return :arghh: Link to comment Share on other sites More sharing options...
Guest JoanneHattersley Posted September 19, 2008 Share Posted September 19, 2008 Thanks Joe. MIL here in Oz and getting worried as she was hearing "news". Mother - thanks for the vote of confidence!!!! LOL! Link to comment Share on other sites More sharing options...
Guest roma 1 Posted September 19, 2008 Share Posted September 19, 2008 hi Joanne , i have just checked the news here online and can't find anything about the halifax going bust! if i hear any news i will let you know, bye for now, gail x Link to comment Share on other sites More sharing options...
Guest its getting better Posted September 19, 2008 Share Posted September 19, 2008 Yes it has gone bust all over the news in uk,i think tsb is bailing them out. Link to comment Share on other sites More sharing options...
Guest roma 1 Posted September 19, 2008 Share Posted September 19, 2008 sorry joanne , i couldn't find anything . going to check the text now, gail xx Link to comment Share on other sites More sharing options...
Guest Petra & Dave Posted September 19, 2008 Share Posted September 19, 2008 HBOS Halifax's parent company has just been bought by Lloyd's TSB as HBOS has large debts to pay off in the 1st quarter of next year which it doesn't have the funds to pay but cant get the loan needed because of the state of the money markets so the government pressurized Lloyd's into buying them Dave Link to comment Share on other sites More sharing options...
Guest roma 1 Posted September 19, 2008 Share Posted September 19, 2008 hi again, it's getting better is right!!! it has been taken over, gail xx Link to comment Share on other sites More sharing options...
Guest Claire5689 Posted September 19, 2008 Share Posted September 19, 2008 Hi - HBOS has been been taken over by Lloyds TSB. It's going to be the new SUPERBANK! There could be up to 40,000 job losses! It's the biggest merger in banking history. Check out this link! BBC NEWS | Scotland | Edinburgh, East and Fife | Bank chief plays down job fears Link to comment Share on other sites More sharing options...
CharmedP3 Posted September 19, 2008 Share Posted September 19, 2008 BBC NEWS | Business | Thousands face axe in HBOS merger Link to comment Share on other sites More sharing options...
Guest jogrant3232 Posted September 19, 2008 Share Posted September 19, 2008 Not one ounce of truth in the Halifix going bust. Link to comment Share on other sites More sharing options...
thewebweazel Posted September 19, 2008 Share Posted September 19, 2008 I believe that Halifax/HBOS had a run on it (it happens when too many investors in the bank withdraw their money at one time) so the UK Government has brokered a deal in where Lloyds’s TSB will buy Halifax/HBOS for £12BN. This has happened due to Halifax having too many eggs in one basket namely housing mortgages (It was the single largest mortgager in the UK), their investors have lost confidence that Halifax will be able to generate the returns (due to the state of the housing market) and have gone elsewhere leaving Halifax/HBOS in the Poo! So now Lloyds TSB will be the biggest mortgage lender in the UK with a Market share of over 30%. The competitions board will not be able to touch them for the moment as the have the Governments blessing, so there is a chance that Lloyds may use this unfair advantage to drive mortgage prices up! Just one thing though to take account of, if you have money in the Halifax and are worried, the Government guarantees your money in a single institution up to £35000 for a single person! If you have more than £35000 in a single institution then it would be best to put the difference in another institution to afford your money the greatest protection All this info comes from listening to Radio 4 over the last few days, so don’t jump off of a building without checking the state of the market for yourself :twitcy: An for the ones that are :SLEEP:it is time to wake up now !! Link to comment Share on other sites More sharing options...
Guest Scardycat Posted September 19, 2008 Share Posted September 19, 2008 thanks for that useful info webweazel, will stop worrying now:biglaugh: Link to comment Share on other sites More sharing options...
Guest JoanneHattersley Posted September 20, 2008 Share Posted September 20, 2008 Cheers guys. MIL here on hols and heard about it and was worried as she obviously cant do anything from here. Will let her know! Link to comment Share on other sites More sharing options...
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