They will stop at nothing to keep the housing ponzi going....

[TheCountOfNowhere]

https://news.sky.com/story/nationwide-profits-tumble-by-40-with-163101m-coronavirus-hit-11996600

 

The lender promises no mortgage holder will lose their home over the next 12 months and tells all staff their jobs are safe.

 

They'll steal your savings but they wont take their house back.

I wonder why ?

I'm calling it, these ****s are insolvent when house prices fall.

[Green Devil]

10 hours ago, TheCountOfNowhere said:

https://news.sky.com/story/nationwide-profits-tumble-by-40-with-163101m-coronavirus-hit-11996600

 

The lender promises no mortgage holder will lose their home over the next 12 months and tells all staff their jobs are safe.

 

They'll steal your savings but they wont take their house back.

I wonder why ?

I'm calling it, these ****s are insolvent when house prices fall.

They just cut my saving interest to just about zero. That's it, the ££ is getting taken out. Clowns. 

[sancho panza]

11 hours ago, TheCountOfNowhere said:

https://news.sky.com/story/nationwide-profits-tumble-by-40-with-163101m-coronavirus-hit-11996600

 

The lender promises no mortgage holder will lose their home over the next 12 months and tells all staff their jobs are safe.

 

They'll steal your savings but they wont take their house back.

I wonder why ?

I'm calling it, these ****s are insolvent when house prices fall.

witha  commitment like that,sounds like a bail out plea.

[Chewing Grass]

1 hour ago, Green Devil said:

They just cut my saving interest to just about zero. That's it, the ££ is getting taken out. Clowns. 

I have come to the same conclusion with what is in a cash ISA I have with one of the high St McBanksters.

Its tax-free status is pointless if it pays virtually nil interest, a Mars bar per year last time I looked for every grand.

Its coming out and going elsewhere to pay off a loan, which doubly pokes the Hight St McBanksters.

Simultaneously I'm draining my business account and diverting the diminishing balance into Pension Co.

If I am thinking this I'm sure many more will be doing exactly the same.

Banks are no place for savings as they are becoming pointless in readily accessible cash form.

[Green Devil]

1 hour ago, Chewing Grass said:

I have come to the same conclusion with what is in a cash ISA I have with one of the high St McBanksters.

Its tax-free status is pointless if it pays virtually nil interest, a Mars bar per year last time I looked for every grand.

Its coming out and going elsewhere to pay off a loan, which doubly pokes the Hight St McBanksters.

Simultaneously I'm draining my business account and diverting the diminishing balance into Pension Co.

If I am thinking this I'm sure many more will be doing exactly the same.

Banks are no place for savings as they are becoming pointless in readily accessible cash form.

Agreed. I think I'd be better of either in bitcoin or premium bonds than a high street BTL lender. If they start pulling the negative interest carp which they are shilling expect trouble ahead for McBanksters. 

[Frank Hovis]

10 hours ago, Chewing Grass said:

I have come to the same conclusion with what is in a cash ISA I have with one of the high St McBanksters.

Its tax-free status is pointless if it pays virtually nil interest, a Mars bar per year last time I looked for every grand.

Its coming out and going elsewhere to pay off a loan, which doubly pokes the Hight St McBanksters.

Simultaneously I'm draining my business account and diverting the diminishing balance into Pension Co.

If I am thinking this I'm sure many more will be doing exactly the same.

Banks are no place for savings as they are becoming pointless in readily accessible cash form.

Surely that's been readily apparent for the last twenty years?

Ironically I have more in cash now than I have had for years. The rationale is that whilst I still think that equities can't lose long term I can see that there may be bumps in the road in the next few years so I don't want to put myself in the position of having to sell shares at a low point.

I've got four years' basic living expenses in my zero interest current account and intend to maintain it at that level; I can't be doing with the pennies earned on deposits but may shove half of it into premium bonds because it at least has a return.

The way I think sterling is going to be trashed I would say even with the likely price drops over the next couple of years that a house will still do better than cash over the next ten years.

Plus they give you a real return on the form of no rent; which is handy if you lose your job.