| If HBOS is nationalised how will it affect my savings accounts |
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Pulse
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Will the money in my two accounts be save or will l face the loss of some of my hard earned cash.
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Cool
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Basically it will save the government having to ask the bank to reveal what you're worth - they will already know now if they become the major shareholder!
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electrode
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The HBOS need £10bn of tax payers money to bail them out and if the government does not do the bailing out your savings would be up the spout.We have a conservative,Andy Hornsby who is boss of the bank who is on,wait fo it, £1.9 million plus £703,000 bonus in 2007. He will loose this lucrative job when Labour buy into this greedy bank. Your money will be safe when this happens.
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Melody
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The Government now has a stake in HBOS which is short of nationalisation. In the short term this is positive for savers as this could mean a beginning of the end to the banking crisis. As long as ur savings r less than £50,000 u r protected by the Financial Services Compensation Scheme, but in reality l think that the Government will do pretty much anything to stop a major UK bank like HBOS going under.
Disclaimer: The above r for guidance only & should not be acted upon without u receiving independent financial advice relevant to ur circumstances. To find & IFA please call 0800 085 3250 or go to http://unbiased.co.uk.
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