Another Bradford & Bingley Northern Rock question

[smurfchops]

Will people with Bradford & Bingley Fixed Rate Bonds lose their savings when B&B are taken over by Northern Rock or is their money safe if they have under �35,000 in Bonds? What if they have �35,000 in B&B as well as �35,000 in Northern Rock Bonds?? Unfortunately I haven't got either, I am just interested !

[dzug]

Why should they lose any money? They are savers.

It's the shareholders who stand to lose, not savers.

[tellboy]

I understand the saving side is independepant of the possible merger with NR so will be OK up to �35000.

i am a shareholder and understand my holding of shares worth �1000 not long ago are now worthless but will be purchased for a few pence from me by the Government.

[smurfchops]

But if savers have over �35,000 in any one company, they would lose out of the bank went belly up. I just wondered what would happen if they 'merged'.

[factor-fiction]

Money will be safer than before. or NR all savings, even those over �35000, are guaranteed now it's government owned. I expect same will happen with BB

[dzug]

The merger is to prevent B&B going belly up. There's no 'if' involved.

Whether the protection will be merged with the Northern Rock (unlimited) or still be a separate �35K depends on how the new organisation arranges its banking licences.