Still time to gamble on windfalls

Article Abstract:

There are about 70 building societies remaining in the United Kingdom and it is likely that many of them will eventually become banks or be taken over, and give free shares to investors and borrowers. Minimum balances vary from 100 pounds sterling at the Portman Building Society, up to 2,500 pounds to open an account at the Coventry Building Society. Four societies worth speculating on are the Bradford and Bingley, the Britannia, the Portman and the Chelsea. The Bradford and Bingley Building Society is the favourite out of the four.

Mergers & Acquisitions, Forecasts and trends, Acquisitions and mergers, Chelsea Building Society, Coventry Building Society, Britannia Building Society, Bradford and Bingley Building Society, Portman Building Society

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Don't let windfalls damage your savings

Article Abstract:

UK savers have benefited from windfall payments from building societies where they have accounts following mergers. Savers should not keep all their funds in accounts hoping to benefit from a windfall payment. They may need to retain 100 pounds sterling to qualify for a windfall payment, and may need to have had an account for over two years. Mortgage holders usually need to keep their mortgage at the building society to qualify, but savers can sometimes transfer funds back to their accounts to increase their bonus.

United Kingdom, Finance, Savings banks

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Guiding you to society windfalls

Article Abstract:

New savers with the four of the major building societies will need to open accounts with at least 500 pounds sterling to benefit from any payouts. However many societies do offer instant access accounts requiring investment of just 100 pounds sterling. Share accounts give savers membership rights in the society, but deposit accounts do not, and are unlikely to yield a bonus in any payout scheme. Many societies are expected to raise their minimum qualifying accounts.

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