according to news.bbc.co.uk, another de-mutual attempt is being carried out on standard life. My mortgage is with Standard Life Bank - the 'bank', as i understand, is wholey owned subsiduary of the 'mutual'. So the question is are mortage customers of standard life bank in for any payout if the mutual sells out??
Its always possible but I think its very unlikely if its considered to be a subsidiary - it probably just applies to people with "proper" policies with Standard Life (with profits/endowments etc) who are also invited to the AGM etc
Regards Sunil
Probably not. I suspect it will just be members of the with-profits fund.
In message , Martin writes
Who can tell? It will depend on the terms of the demutualisation, if it happens.
In reality it is highly unlikely if mortgagors of Standard Life Bank got a windfall as a result of the demutualisation of The Standard Life Assurance Company because they are merely customers, not owners, of the society. If mortgagors were to get a payout then so should the milkman, window cleaner, utility company and anybody else who they owed money to.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.