Lambeth Customers In Line for Windfall
Customers of the Lambeth Building Society to receive at least £400 if merger goes through
25th April 2006
Around 70,000 customers of the Lambeth will be in line for windfall payments of at least £400 each if the proposed merger with Britain's 3rd largest 3rd largest society, Portman, goes through.
Subject to a positive vote by Lambeth members in May's postal ballot, savers at the society will receive a cash bonus of 8.4% of their balance as of January 31st 2006. The payment will be limited to a maximum of £2,500, but will also be 'rounded up' to a minimum of £400.
The society's mortgage holders will also receive windfalls worth £400 each.
Read More: Money Guardian : Windfall waiting for Lambeth customers
Home - Banking - Building Societies
