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Ali M · 15-09-2007, 02:11 PM

Northern Rock, well other banks will follow, problem with the rock is they are mainly a mortgage lender where as other high Street lenders are more versitile. This week alone 3 lenders not high street lenders have closed there doors, they have no money to lend.

They get there money of other banks and then lend it out at higher rates, problem is these other banks mainly american have no money to lend.

There is no problem with the Rock and anyone who has money there is ok as long as its not above 30K upto 30K and your fully protected, however the uk goverment would not allow the Rock to go bust and it will not happen.

Non high street banks are now strugling and they dont get any help like the rock.

Watch out, the housing market will now suffer a mini crash, with over supply, rising rates, HIP's and no confidence amongst buyers.

However if your in it for the long term then no worries, short term then i'd be very carefull.

The Rock shares yeah defo worth a few quid, they will bounce back, as soon as the Americans have sorted them selves out. This is where you get your bargains.

15-09-2007, 02:11 PM	#6 (permalink)
Ali M Banned Join Date: Aug 2006 Location: Staffordshire Posts: 891 Rep Power:	Re: Investments Northern Rock, well other banks will follow, problem with the rock is they are mainly a mortgage lender where as other high Street lenders are more versitile. This week alone 3 lenders not high street lenders have closed there doors, they have no money to lend. They get there money of other banks and then lend it out at higher rates, problem is these other banks mainly american have no money to lend. There is no problem with the Rock and anyone who has money there is ok as long as its not above 30K upto 30K and your fully protected, however the uk goverment would not allow the Rock to go bust and it will not happen. Non high street banks are now strugling and they dont get any help like the rock. Watch out, the housing market will now suffer a mini crash, with over supply, rising rates, HIP's and no confidence amongst buyers. However if your in it for the long term then no worries, short term then i'd be very carefull. The Rock shares yeah defo worth a few quid, they will bounce back, as soon as the Americans have sorted them selves out. This is where you get your bargains.