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If you've got some shares in HBOS are they now non-existant?

(21 Posts)
zwiggy Thu 18-Sep-08 18:38:19

dh has some shares that he has had since he had a griffin savers account as a child with the leeds and when it merged with Halifax he got 200 shares. Never done anything about them cos we are both financially inept. What happens now?

Nagapie Thu 18-Sep-08 18:41:18

I think the Halifax shares will be of zero value now and you will receive Lloyds shares in its place - not 2,000 shares, but at a ratio equal to what LLoyds/HBOS have agreed ..

Soprana Thu 18-Sep-08 18:41:54

I believe (well, DH told me he heard on the radio) they're now worth 80% of what they were before the takeover. Glum.. I have some too.

zwiggy Thu 18-Sep-08 18:45:02

gosh not 2000 - just 200! and we are trying to sell our house. god its rubbish.

Nagapie Thu 18-Sep-08 18:46:34

Sorry - skim reading - imagined another 0 - wouldn't that be good!!

At least they weren't shares in Lehman's!!

unfitmother Thu 18-Sep-08 18:48:23

Ours have been converted to Lloyds shares.

zwiggy Thu 18-Sep-08 18:56:19

unfit - is that good?

LadyMuck Thu 18-Sep-08 19:03:12

HBOS shares were still trading today. The merger had been announced but not yet executed, as at the very least the HBOS shareholders must get to vote on this. I would have thought that HBOS shares will continue to exist until at least that time.

Zwiggy if you look here I think it will tell you what to do. The good news is that if your dh did not actually claim his HBOS shares after the 2001 merger then it looks as if they were sold and he should get some cash - probably a lot more than his HBOS shares would now be worth.

zwiggy Thu 18-Sep-08 19:09:05

we did claim the shares if thats the same as sending a cheque to them?

LadyMuck Thu 18-Sep-08 19:55:50

Have you been getting dividends?

Anyway the phone number is on the link in my earlier note.

Chopchopmissy Thu 18-Sep-08 20:01:47

OK thicko over here - are Halifax BS and HBOS the same people or not

LadyMuck Thu 18-Sep-08 20:04:53

Halifax merged with Bank of Scotland to form HBOS in 2001. You should not still have Halifax shares. If so you need to claim the cash. You might have HBOS shares which are still tradeable, but will ended up being converted into Lloyd TSB shares

MadameCastafiore Thu 18-Sep-08 20:05:15

Yes Halifax Bank of Scotland and HBOS are one and the same.

Chopchopmissy Thu 18-Sep-08 20:08:47

No I have was thinking of mortgage wise - is there such a thing still as HAlifax Building Society (sorry dont live in UK am not usually this dumb!)

MadameCastafiore Thu 18-Sep-08 20:10:32

No Halifax and Bank of Scotland merged years ago and then took over clerical medical and then rebranded that part to Insight Invetsment and then that part merged with part of Rothschild and then Lloyds TSB bought them - you following?

LadyMuck Thu 18-Sep-08 20:11:17

Certainly the Halifax brand is alive and well. I don't think that it has technically been a building society for some time, but people wiill have accounts and mortgage with Halifax. I think that I still have an account with them somewhere...

LadyMuck Thu 18-Sep-08 20:12:07

grin MadameCastafiore!

MadameCastafiore Thu 18-Sep-08 20:14:31

What am I rumbled do you know who I am or something?

I am an opera singer nothing more my dear!

(Oh they also own something called Allied Bank of Australia or something like that and lots of other things that will be sold off I reckon - thats all I know for now folks!)

Chopchopmissy Thu 18-Sep-08 20:21:46

Ok so if I have a Mortgage with Halifax am I ok with all this malarky going on

LadyMuck Thu 18-Sep-08 20:26:50

You still have a mortgage. The ultimate shareholder in the company that you have the mortgage with is about to change, but you have nothing to worry about (other than the fact that you still need to keep paying said mortgage).

There will of course now be fewer companies in the UK offering mortgages, so we wait to see how competitive the market continues to be.

Chopchopmissy Thu 18-Sep-08 20:29:58

Thanks v. much for that!

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