Northen Rock
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Originally Posted by jungleistmassiv
I was just about to post up atbout northern rock - I have a loan with them, I currnently owe about £3000. Whats going to happen to it?
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Rich
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Seriously, good question, will they go bust??
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#6
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The are not in the shit at all,talk about scaremongering...
The banks that they routinely borrow off have stopped lending to try and cover their own fook ups so basically Northern Rock have been left a bit in the lurch through no fault of their own.......
This problem all started with the Yanks giving mortgages to all the crackheads to kickstart a property growth and it`s bit them severely in the arse....
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The banks that they routinely borrow off have stopped lending to try and cover their own fook ups so basically Northern Rock have been left a bit in the lurch through no fault of their own.......
This problem all started with the Yanks giving mortgages to all the crackheads to kickstart a property growth and it`s bit them severely in the arse....
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Originally Posted by The Diva
Oh and by the way,buy some shares quick......the problem will be very short lived hopefully so you will be guaranteed aty least a 20% growth on your investment when they return to normal... ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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#10
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Originally Posted by Dan
Originally Posted by The Diva
Oh and by the way,buy some shares quick......the problem will be very short lived hopefully so you will be guaranteed aty least a 20% growth on your investment when they return to normal... ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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Wouldn't worry just spoke to blokie (regional lending manager Northern Rock) and he says it's a whole lot of fuss over nothing. NR haven't even taken any money from Bank of England, they asked them if they could if they needed to like an overdraft, they aren't the only lender that approached Bank of England but the other lenders were turned down as not a good investment NR were approved so they all over the papers
As for savings things like that wouldn't worry at all.
As for savings things like that wouldn't worry at all.
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They have well over £100 bn in assets so they are not going to go bust.
And as the Diva said i'd getting buying shares asap, i've just invested at 8.30 this morning quite a healthy sum of which I expect a minimum of 8% return on by next year!!
And as the Diva said i'd getting buying shares asap, i've just invested at 8.30 this morning quite a healthy sum of which I expect a minimum of 8% return on by next year!!
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Originally Posted by The Diva
The banks that they routinely borrow off have stopped lending to try and cover their own fook ups so basically Northern Rock have been left a bit in the lurch through no fault of their own.......
They're primarily a mortgage lender and not a bank, so don't have the same reserves a normal bank does.
In addition, Northern Rock have expanded rapidly by offering mortgages of more than 3x your earnings, at good rates. You can instantly see that this is riskier behaviour than most, and their profit margins are far slimmer.
So in my opinion it is the banks fault. They accepted the risk and it has come back to haunt them.
Depends if you're a bull or a bear as to whether you think shares will bounce. Could get a whole lot worse though....
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Originally Posted by Ex-Finesse
Originally Posted by The Diva
The banks that they routinely borrow off have stopped lending to try and cover their own fook ups so basically Northern Rock have been left a bit in the lurch through no fault of their own.......
They're primarily a mortgage lender and not a bank, so don't have the same reserves a normal bank does.
In addition, Northern Rock have expanded rapidly by offering mortgages of more than 3x your earnings, at good rates. You can instantly see that this is riskier behaviour than most, and their profit margins are far slimmer.
So in my opinion it is the banks fault. They accepted the risk and it has come back to haunt them.
Depends if you're a bull or a bear as to whether you think shares will bounce. Could get a whole lot worse though....
Northern Rock are a financially sound company that has had a solid growth based on good practices,their portfolio carries no greater risk than anyone elses and they currently have £113 Billion in assets and £24 Billion in customer deposits.....they do have a large operating reserve,what they are saying is that if the lending situation from other banks carries on,they MAY need an emergency cash injection from the Bank of England to keep cashflow stable.....
WTF has that got to do with 3x lending and decent rates......it`s this narrow sighted attitude that causes such big share fluctuations when everyone panics..........
#17
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Originally Posted by Shings
Might have a pop on monday...
How long for a resonable return Rob?
How long for a resonable return Rob?
The Bank of England know that Northern Rock are stable and solvent,otherwise they wouldn`t have agreed in principle to the cashflow loan,regardless of the worry about mortgage market destabilisation.....there is basically nothing financially wrong and no big gaping holes anywhere,just a glitch caused by a big change to a normally widely used and accepted practice of inter bank borrowing...
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Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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Originally Posted by MAD EVO 4
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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Originally Posted by The Diva
Originally Posted by Dan
Originally Posted by The Diva
Oh and by the way,buy some shares quick......the problem will be very short lived hopefully so you will be guaranteed aty least a 20% growth on your investment when they return to normal... ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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How do I go about it, any help for where to go and how to go about it mate?
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Thanks, i'll get you a drink some day Rob! lol
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#23
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Originally Posted by snedboy
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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Remember the magic words "Investments can go down as well as up"..
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Originally Posted by snedboy
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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You could make good money, or you could lose a lot. Their share price was about £11 a year or so ago, now it is £5!!!
I would not personally like to advise someone of such an investment though.
I have made an investment but I know its a gamble, all depends on your circumstances.
#25
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Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
#26
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Might be a sound investment, however that drop today doesn't really tell the whole story, they have been dropping since March when they were over £12 a share!
DYOR
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DYOR
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Originally Posted by The Diva
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
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Originally Posted by The Diva
Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
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#29
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Originally Posted by The Diva
Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
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Originally Posted by RichardPON
Originally Posted by The Diva
Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
![Surprised](https://passionford.com/forum/images/smilies/bigcry.gif)
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#31
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Originally Posted by RichardPON
Originally Posted by The Diva
Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
Totally.. I understand.. but its worth a punt with a few £k.. I wouldn't like to loose it but can stand on for it if needs be.
#32
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Originally Posted by fordsportjay
Originally Posted by RichardPON
Originally Posted by The Diva
Any of this advice is my own personal opinion by the way,i don`t pretend in any way shape or form to be a financial expert and as i have stated before,investments can go down just as quick as they go up....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
If anyone is thinking of investing in anything there is plenty of proffessional financial advice available in the marketplace.....
![Surprised](https://passionford.com/forum/images/smilies/bigcry.gif)
![Surprised](https://passionford.com/forum/images/smilies/bigcry.gif)
![Surprised](https://passionford.com/forum/images/smilies/bigcry.gif)
![Surprised](https://passionford.com/forum/images/smilies/bigcry.gif)
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You Coont....
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Originally Posted by staffi
Originally Posted by Shings
Might have a pop on monday...
How long for a resonable return Rob?
How long for a resonable return Rob?
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Thats if everyone doesnt panic and pull out!
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Originally Posted by DaveZS
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Originally Posted by snedboy
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
Originally Posted by dunlop2008
Originally Posted by MAD EVO 4
How can we go about buying a nice lump of shares then ![Top](https://passionford.com/forum/images/smilies/smile011.gif)
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#39
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Originally Posted by staffi
Originally Posted by Shings
Might have a pop on monday...
How long for a resonable return Rob?
How long for a resonable return Rob?
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I have been watching them this morning- just called in a few debts... so maybe later in the week...........
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Northern rock was funded by US banks initially.
The US banks have pulled a lot of money meaning things are tight at the moment.
This problem will be very shortlived.
There are already companies bidding to buy large stakes in the company.
The US banks have pulled a lot of money meaning things are tight at the moment.
This problem will be very shortlived.
There are already companies bidding to buy large stakes in the company.