2007-09-16 02:23:02 · 11 answers · asked by ireneseanoshea 3 in Business & Finance ➔ Personal Finance
Nothing. it's perfectly safe. The bank is not in financial ruin as people would have you believe. The saving accounts have a very good interest rate. The government and the Bank of England have said they will not let the bank go under even though it is nowhere near that stage and is in fact profitable at the moment.
2007-09-16 02:26:48 · answer #1 · answered by Sarah (31/UK) 4 · 0⤊ 0⤋
OK first off don't touch it your moneys safe the Bank of England would not let Northern Rock go under
Just to point out the law if it did happen
How much savings do you have?
If you have under £2000 then 100% of your money is safe
Over £2000 then 90% would be safe
Remember you may be liable for charges for taking the cash out early
Cheers
Graeme
www.makefastcashnow.co.uk
2007-09-16 10:26:34 · answer #2 · answered by g a 1 · 0⤊ 0⤋
Hang on in there. This country cannot afford to let a bank go under - it would rock (no pun intended) the entire British money market and destroy the confidence in London and Britain as the world's best and largest financial market.
2007-09-16 09:27:32 · answer #3 · answered by Fuentes 3 · 0⤊ 0⤋
of course they have high interest rates for savers they need your money. The bank of england bailed them out, this money has to be recovered by the bank of england so expect to pay another £50 extra a month on a £100,000 mortgage very soon
2007-09-16 09:32:16 · answer #4 · answered by kramisin 3 · 0⤊ 0⤋
Nothing. There was never a problem, it has been only made worse by the media scaremongering again.
If everything does go belly up they have billions upon billions in assets anyway, your money is safe
2007-09-16 09:28:08 · answer #5 · answered by Mr Biscuits 2 · 0⤊ 0⤋
Use the opportunity to take out the savings and put them in an account with better rates.
http://www.moneysavingexpert.com/banking/#SavingPensionInvestm
2007-09-16 09:29:02 · answer #6 · answered by Anonymous · 1⤊ 1⤋
I am sure they are quite safe and in the event of a take over you might get a bonus!
2007-09-16 09:28:40 · answer #7 · answered by Spiny Norman 7 · 0⤊ 0⤋
check around to see if you can get a better morgage deal.keep saving with them if the interest rate is what you want.your savings are safe
2007-09-16 10:30:59 · answer #8 · answered by benjie 1 · 0⤊ 0⤋
Don't worry. Everything's going to be ok with them
2007-09-16 09:25:52 · answer #9 · answered by jb 3 · 2⤊ 0⤋
Well do what all their other customers ar doing. Wihdraw all your money and switch your mortgage.
2007-09-16 09:27:33 · answer #10 · answered by ? 7 · 1⤊ 2⤋