IN House Share Discussion Threads

[jonc] 31/3/2009 07:52

But Vince Cable, the Liberal Democrat Treasury spokesman, said the FSA had failed to properly oversee the actions of the company's "disastrous management". He told the Commons he had been passed details of a £10m loan to a Lancashire firm called Inhouse, which was insolvent and had never filed audited accounts.

[realcooltrader] 30/3/2009 17:36

"But the Government is taking on the Dunfermline's riskier debt - commercial property, investments in U.S. sub-prime mortgages and social housing loans - amounting to more than £1billion."

"The Dunfermline had increased its exposure to commercial property seven-fold in the last three and a half years - 'that's truly reckless'."

[haff1] 27/3/2009 12:36

...someone has farted again and shifted the sp!!!

[sleepy] 22/3/2009 16:05

Surprise! Surprise!!! (or not as the case may be!)

[f 10] 22/3/2009 14:30

following media reports of problems with its commercial loans book.

[f 10] 22/3/2009 14:27

Building society concerns raised

Sunday, 22 March 2009

Concern has been raised over the future of Scotland's largest building society, amid reports it may have to be bailed out by the UK Government.

Dunfermline Building Society insisted it was "business as usual", following media reports of problems with its commercial loans book.

Dunfermline and West Fife MP Willie Rennie urged ministers to resolve the issue quickly.

He told BBC Scotland he had received concerning "reports from the ground".

In a statement, the building society, which was set up in 1869, said "It is not our policy to comment on rumour or speculation.

"We will continue to look after our members' best interests and it's very much business as usual."

Liberal Democrat MP Mr Rennie, whose constituency takes in the Dunfermline's headquarters, told BBC Scotland's Politics Show UK ministers should consider offering help under their recapitalisation programme, which was used to help save The Royal Bank of Scotland.

"I've got great concerns about the reports that have been in various newspapers over the last few days and reports I've heard on the ground, sufficient to stir me into making sure the Scottish secretary, the prime minister and the (Scottish) first minister take this seriously and explore every possible avenue to make sure the Dunfermline Building Society remains independent and Scottish, but also mutual and strong," he said.

Mr Rennie said building societies were being "penalised" under the Financial Services Compensation Scheme - which helps people who lose money if their bank, insurance company or other financial firm goes bust - because they held higher values of deposits.

And he questioned whether the same capitalisation rules "riskier" banks have to abide by should be applied to building societies.

"This is an important building society that's been around for 130 years, with 30-odd branches and a similar number of agencies," he said of the Dunfermline, which is a major mortgage lender.

"People trust this institution and, if this falls away, then I don't know how much confidence we could have in the financial sector."

'Standing ready'

Scottish Secretary Jim Murphy said he did not comment on speculation, but added that the UK Government had not allowed any financial institution to fail.

"Regardless what happens in any building society or bank, the UK Government stands ready to support savers, those who have got their mortgages or anyone who's investing in these institutions, to make sure that savers in particular and mortgage-holders, are not affected."

The Dunfermline is also involved in the provision of social housing in Scotland, but Scottish Government would not be drawn on claims it was planning a rescue package of its own.

"We have no specific comment to make, except reiterate that we always stand ready to engage constructively in the interests of Scotland in areas which reflect our responsibilities for employment and social housing," said a spokesman for First Minister Alex Salmond.

The Financial Services Authority watchdog said it could not comment on individual institutions.

[wiganer] 16/3/2009 21:33

about 12 inches

[intuitiv100] 16/3/2009 19:16

hmm interesting John Ferree IHG director has put his hand in his pocket for £5k!! wonder what is afoot!

[realcooltrader] 13/3/2009 15:51

Blimey, 12m at full ask.

[gazz3r] 08/3/2009 22:06

halfpenny now. Outdated and worthless.

[haff1] 03/3/2009 11:24

... now a shilling down the arm of the settie .....

[gazz3r] 02/3/2009 16:53

ENJOY!!! it may be £4.9999999999 tomorrow

[haff1] 02/3/2009 12:22

... good news.....someone has found a fiver under the desk!!

[alibongo612] 20/2/2009 16:22

"my judgement which over the last 11 years has seldomly been wrong."

Wow I'm impressed

LOL

[keepitup] 20/2/2009 15:34

This will be one for your losers list....even if the price stays the same you lose as they will dilute again and again....

[poppadom2] 18/2/2009 21:17

Hope you are all right about me becoming a cropper let's wait and see.

[poppadom2] 18/2/2009 20:58

so far since 1.1.2009 I have forecast 10 risers, 8 of them have already gone up with a minimum of 10%. Call me what you like I understand why, but for me all that matters is my judgement which over the last 11 years has seldomly been wrong.

[alibongo612] 18/2/2009 19:11

I'll take that as confirmation that clearly you are no stranger to investing in sh*t cos

[poppadom2] 18/2/2009 17:51

Agree they could not make money in a boom and the figures of their interims in the main are poor. However if you compare them with another 10 or so shares that are sitting at the same price, like for like, this one has better potential than all the others and the buying price remains very silly low. As long as you can buy at the same price as you can sell it without anyone going silly and hiking the prices there could be a decent return when the company sorts its entire letting stock. Out of all the people in property who currently are struggling this is one of the very few with revenues from the government. All this company would need is a change of a new director coming in who takes a fnancial stake and this one would be off. I have seen stranger things happen.

[keepitup] 18/2/2009 17:01

This should be renamed IHPG (In House PiG) to represent the true company imo.

Poppadom2 - if you can see value here you must be going blind, its utter garbage and is an embarrasment - i dont know how the management can sleep at night...they couldnt make money in a boom....what are there chances now? A truly currupt management team who couldnt direct an episode of crumby eastenders.

[detroit red] 16/2/2009 22:03

The company is trying to tick over and keep sustaining itself from the rental income and begging for money from various outfits. They have virtually no chance of making any meaningful profit from continuing operations. If you read their statements, their whole object his plodding along until the property market recovers so that they can flog the properties and so book a profit.

The idea that they can make an operating profit from the rental income is wishful thinking. They will continue printing the confetti like paper certificates to raise a few k here and there - and Mr Cassidy will get down on bended knee every night and pray that one day he'll wake up and see property prices rocket so he can show he has sold a property for a profit. Then again, when that time comes he will also see pigs fly outside his office.