Originally Posted by
The Nip
I thought the saying was, if you choose to leave the club, then you can’t expect to still use the facilities. You are quite correct, they are UK assets. I would imagine that IScot is about 8%, that also includes UK debt.
Who is going to be the guarantor of all those Scottish mortgages when there is no bank?
I am not making any comment about the rights and wrongs of IScot, I don’t get a vote, mores the pity.
But that's the whole point! It's NOT a club, it was an Act of Union.
I suspect that you are about right with the 8%.
As to mortgages, that will be a commercial opportunity for some. A bank does not have to be of the same nationality as the area it serves, witness the Spanish bank Santander and the huge number of UK mortgages they have.