Northern Rock asks for Bank help

[Legal Beagles]

The Northern Rock applies to the Bank of England for emergency financial support, the BBC learns.

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[muggins73]

Re: Northern Rock asks for Bank help

Do you think the BofE will bail me out if I ask them nicely enough

[Paradox]

Re: Northern Rock asks for Bank help

Nope

Shame for Northern Rock... My mortgage is with them. Luckily I got a fixed rate for 5 years, just in case the buggers think of putting their rates up to cover their dilema

[muggins73]

Re: Northern Rock asks for Bank help

Ah well worth a try!!!

Not so much of a shame for them but more of a shame for you poor buggers out there that have mortgages with 'em. They'll no doubt bounce back and failing that start afresh under a new trading name, whilst in the interim folks possibly lose their homes.

[Legal Beagles]

Northern Rock given emergency bail out by Bank

Northern Rock became the first high profile British victim last night of the crisis that has swept credit markets, after admitting that it has received a financial bail out from the Bank of England.

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[enaid]

Re: Northern Rock given emergency bail out by Bank

Message from Norhtern Rock this morning " Don't Panic"

[Delta]

Re: Northern Rock given emergency bail out by Bank

Hmmm yes well, I think my OH has a jitter ot two as his mortgage is with them.

[Legal Beagles]

Banks watch for Northern fallout

Markets will closely watch banking shares after Northern Rock was forced to take a loan from the Bank of England.

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[enaid]

Re: Banks watch for Northern fallout

I hope they took PPI with this loan, you never know the minute do you lol!!!

[Delta]

Re: Banks watch for Northern fallout

Any idea if people with mortgages need to be worried?

[Paradox]

Re: Banks watch for Northern fallout

They're saying not, but then, they would say that

I've got a mortgage with them, I'm not too worried at the moment. I'll be watching the situation carefully though.

[iancognito]

Re: Northern Rock given emergency bail out by Bank

Yes it's sad, profits statement says they'll probably only make £500 million profit this year so mortgage rates will probably have to go up - bless 'em.

[Paradox]

Re: Northern Rock asks for Bank help

There's people queuing at NR brances removing all their monies! Oh dear, panic stations

[Delta]

Re: Northern Rock asks for Bank help

Look I am sorry about this, but I really have to say it.

Apparently, NR got this loan because they are having a wee cash flow problem, obviously they have a few bills that need paying before pay day, they obviously have had to go into an overdraft situation with their bank (ie Bof E), I wonder if they are going to complain about the paid referal fees that they are gonna get charged

Also, if they pay this loan back early are they gonna have to pay a ERC?

Tut tut tut, they really should manage their finances properly

Sorry I just couldn't resist it. :roll:

[Mochamoos]

Re: Northern Rock asks for Bank help

Northern rock are Ejeits and I will be charging them 11.7k cause I couldnt complete today cause they refused to transfer funds to my buyer to I had to pay erc.... they may say dont panic but they failed to provid funds So im fuming my buyer is panicing