Nationwide merger with Portman.

[DTS]

Not a very exciting topic but these two building socities have just annouced a merger.

Not very exciting but if you have long term accounts with these boys and were thinking of chucking them in might be worth hanging on as you may get a sweetner you never know.

DtS

 

[sufcintheprem]

I've got three accounts with Nationwide. Two that i've held since leaving school.

I think the longer term ones have got about ten pounds between them but fingers crossed eh...

 

[DTS]

Not set to go through till Sept 2007 so keep that tenner where it is.....

 

[Jonny_Stokes]

Quote[/b] (Dave the Shrimper @ Sep. 12 2006,11:28)]Not a very exciting topic but these two building socities have just annouced a merger.

Not very exciting but if you have long term accounts with these boys and were thinking of chucking them in might be worth hanging on as you may get a sweetner you never know.

DtS  

Marvellous. Only reason I was keeping my Nationwide one open.

 

[DTS]

Quote[/b] (Jonny_Stokes @ Sep. 12 2006,11:59)]

Quote[/b] (Dave the Shrimper @ Sep. 12 2006,11:28)]Not a very exciting topic but these two building socities have just annouced a merger.

Not very exciting but if you have long term accounts with these boys and were thinking of chucking them in might be worth hanging on as you may get a sweetner you never know.

DtS  

Marvellous. Only reason I was keeping my Nationwide one open.  

I am informed that your vast personal fortune was one of the main factors behind the decision JS.

 

[Jonny_Stokes]

Quote[/b] (Dave the Shrimper @ Sep. 12 2006,12:06)]

Quote[/b] (Jonny_Stokes @ Sep. 12 2006,11:59)]

Quote[/b] (Dave the Shrimper @ Sep. 12 2006,11:28)]Not a very exciting topic but these two building socities have just annouced a merger.

Not very exciting but if you have long term accounts with these boys and were thinking of chucking them in might be worth hanging on as you may get a sweetner you never know.

DtS  

Marvellous. Only reason I was keeping my Nationwide one open.  

I am informed that your vast personal fortune was one of the main factors behind the decision JS.

Indeed. I'm so well off that I'm the only person in Leyton who owns a VHS player.

 

[Westcliff Shrimper]

If that's the case, then I suggest you all make sure you have got at least £100 in your accounts, as previous "sweetners" have only been given to account holders with this much in them...

 

[Beaver]

Heard something on the Radio just now saying that the Nationwide had 'taken over' the Portman, and that it will only be the Portman Account/Shareholders etc that receive the payment.

 

[Guest]

BBC Story

The deal will also mean windfalls for many of the Portman's 1.8 million members of at least £200.
To be eligible, Portman members with savings will have had to have held at least £100 in their account on 11 September 2006, and remain a member until a future date, which has yet to be specified.
Members with both savings and a mortgage with the Portman will be eligible for two merger bonuses.

Nationwide members will not receive a merger bonus.

 

[sufcintheprem]

booooooooooooooooooooooooooooooooooooooooooooo

 

[Westcliff Shrimper]

Quote[/b] (sufcintheprem @ Sep. 12 2006,15:53)]booooooooooooooooooooooooooooooooooooooooooooo

Too right.

The only silver lining is that, with the new Chief Executive in charge in the New Year, the demutualisation of Nationwide can't be far off...

 

[Upminster Blue]

Quote[/b] (CI-City Blue @ Sep. 13 2006,12:36)]

The only silver lining is that, with the new Chief Executive in charge in the New Year, the demutualisation of Nationwide can't be far off...

Which would be a sad, sad, day. The payout you'd need to compensate you for the inevitable increase in mortgage rates and reductions in savings rates would be huge.

Personally, I can't see them demutualising. They're competing, and beating, the other ex-Buliding Societies so there's no need for change.