Credit Crunch - HBOS possible bankruptcy affect on mortgages?

7 replies
Found 16th Sep 2008
Just wanted to pick HUKD brains as to does anyone know what would be the affects on people who have mortgages with HBOS if they went bankrupt? Just wondering!

  1. Misc
  2. Mortgage

i would guess the debt is sold on to other companies?


i would guess the debt is sold on to other companies?

yeah thats what they were saying on tv this morning

why is there a chance they will go under ???

plz we need to keep calm

There is no chance of them going under, don't worry they have massive reserves despite what is being said.

no chance of them going under. that latest is that Lloyds are thinking of putting in an offer to buy them at 300p a share (the rough price from last week).

the only way they'll go under is if people panic and start withdrawing their money "en masse"

switch to Abbey who are owned by Santander who are not affected by the American crisis. or Alliance and Leicester, who will be bought by Santander shortly.

No chance? Hmmm I wouldnt say that although people should stop listening to the press. I was listening to the PwC conference in re Lehman Bros and some of the questions asked by reporters just showed how ignorant they really were

You should continue paying your mortgage as if nothing happened. Only real affect would most likely be that the mortgages would eventually be assigned to another lender although they may continue using the same servicer so as to not confuse existing customers

They are currently in advance merger talks with Lloyds. Im sure the authorities will "encourage" HBOS to merge with a bank with a large deposit base

As to Santander - Spain property market will potentially be the next property crisis so would just keep that in mind
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