Santander, much maligned, but is it fair??

[skyhuck]

...or business if the latest allegations are true. Sickening but not really surprising.

 

Yes thats unreal!!!

 

How can it be legal for a bank to make a client sell to an asset stripping Co THAT THEY OWN!!!!!!!!!!

 

Surely there will be criminal charges following this?????

[Mark Bolam]

mmm, just about to remortgage with Santander!!

To be honest, I think all banks have their issues - just the luck of the draw if you get caught up in something or not.

 

 

As for the person who made the comment earlier in this thread about the Spanish and financials not going together - thats just ingorance.

With London being a major hub in the financial world and having been a significant player in the shenanegans a few years ago, not to mention Libor etc etc, this country can hardly claim to be a shining beacon of financial purity.

People living in glass houses etc.

Sorry about the derail, but people who make stupid, unneccesary comments, just irk me.

Rant over!

 

Out mortgage is with Santander at the minute, and the trouble we have had since they took over from Abbey has led to a point where we are about to leave.

 

My wife's impeccable credit rating went down, and we traced it to the fact that they had us down as having two mortgages (for the full figure) on our house.

 

The Spanish thing was a bit of old fashioned tongue in cheek xenophobia, the horrendous unemployment over there is due to lots of different factors, and yes, London can certainly do financial disaster with the best of them.

 

Adios.

[Mark Bolam]

This is so true!!

 

I know of a farmer who through the winter had an overdraft of up to £1M, the bank loved them, personal calls from their manager, Xmas cards, etc, they were hit by Foot and Mouth and ended up with £4M in their account, the bank suddenly had no interest in them at all.

 

My card should arrive shortly then.

[skyhuck]

Why borrow on a loan for 7.5 when you can get an overdraft for way less. Plus some of the time you will be in the black and paying no interest.

 

Not thought of that to be honest

 

I think my overdraft is 5% above base, so 5.5%

 

I'm going call them and see if I could increase my overdraft to £15K.

 

I really hate being in my overdraft, but I guess its just a state of mind, just need to adjust my thinking, as as you say it would make good business sense:thumbup1:

 

Good job I'm better at cutting trees than business

[gensetsteve]

My last mortgage if you borrowed more than 90% you had to pay an £1800 mig payment. Basically an insurance policy that the bank could claim on if you default on your mortgage. 15 years ago I borrowed 200k to buy my mini mansion paid £2000 a month for the last 15 years to pay it off. If you were a premier customer you did not have to pay the mig to be a premier customer was £10 a month. After I completed on the mortgage cancelled the direct debit The point of all this is if you have more than 20% equity the banks are keen to push you to the wall as they see that as theirs. banks = scum

[nepia]

Yes thats unreal!!!

 

How can it be legal for a bank to make a client sell to an asset stripping Co THAT THEY OWN!!!!!!!!!!

 

Surely there will be criminal charges following this?????

 

 

Let's hope so. The banks came to see themselves as the untouchables didn't they.

Pride comes before a fall...

[sandspider]

No criminal charges (so far at least) for the rate rigging scandals. Just fines, big admittedly, but paid by the bank's customers, not the banks or (criminal) bankers!

[up a tree]

One of the biggest banks in the world would not trust full of legal criminals known as bankers and pollution's, what bank can you trust there all connected and control the world more than we give credit. Gone are the day of the old little building society:laola:.

We have to pay for giving them our money anyway its just worded different.

[Johnnyboxer]

Why borrow on a loan for 7.5 when you can get an overdraft for way less. Plus some of the time you will be in the black and paying no interest.

 

Overdrafts are for cashflow

 

Bank Loans and HP are for Capital Purchases

 

[Tom D]

Not thought of that to be honest

 

I think my overdraft is 5% above base, so 5.5%

 

I'm going call them and see if I could increase my overdraft to £15K.

 

I really hate being in my overdraft, but I guess its just a state of mind, just need to adjust my thinking, as as you say it would make good business sense:thumbup1:

 

Good job I'm better at cutting trees than business

 

What ever you do don't tell them its to buy stuff, they'll just try and sell you a loan, do a cash-flow forecast that shows you needing an overdraft and you should get it. Tell them you have a lot of council work coming up and they are slow payers, snow clearing etc...