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…… propping up the share price. Just think where else I could have invested all those special dividends (sigh 😞)
Parkez
You posted on 28th March....."The effects of high rates have not started yet...They will be back at 3% or lower before years out."
You still think so? I think they will only peak towards the end of the year, and wont start coming down until 2024.
39.5p looks very real now....imho
I would think the outlook is good if you buy now,at some point the rate they are buying their own shares will have to reflect on the share price
Top 10 UK Savings Statistics and Facts
British households save 7.6% of their disposable income as of Q2 of 2022.
60% of UK households have savings accounts of some kind.
The total number of ISA subscriptions in the UK is 12.2 million.
The South East region has the largest number of savers, with 1.1 million cash ISA subscriptions.
The total amount subscribed in all ISAs in the UK is £72.243 billion.
The average amount of savings per UK household adds up to £76,301.
The average British household saves a median amount of £198.8 per month.
25.95% of Brits have less than £1,000 in savings.
Londoners, with an average of £28,978.40, have the highest savings average in the UK.
Only 8% of Brits between 16 and 24 are very confident in their living standards after retirement.
havent had this verified so dont know fully how accurate it is.....
Debt does not have the stigma of times past.
Many in debt will carry on as normal...getting further into debt...then some company will simply wipe most of it out for them.
Disagree Jimbo.
There is a lot more debt out there than savings. The few who have savings to benefit are not big enough a group to "fuel the fire".
Who in their right mind thought interest rates would stay near zero for ever..utterly ridiculous......house prices needed a reality check and here it is....state pension age people like myself had record high mortgage interest rates then record low interest rates on their savings.....we either got on with it or went under...many did unfortunately....gla
Jimbo, i agree....raising rates is simply fuelling the fire.
Therefore their will be another housing boom when rates drop and these overcharged renters rush to buy.
37% of people have a mortgage/loans while 27% of the population have no mortgage or loans. The 27% are benefitting greatly with the increase in interest rates on their savings which is keeping spending and inflation high. In short, raising interest rates is not the effective tool everyone in finance thinks it is in dampening inflation. As for Lloyds, I am genuinely surprised that people are still holding on to this consistently underperformed share when they can now get a guaranteed 5.45% return on 5 year fixed rate bonds.
Renters are going to suffer more than mortgage holders.
Private landlords will either increase their rents or sell up.
When interest rates drop...mortgages will drop...
But cant see many landlords reducing rents for tenants.
So while this maybe a short term hit for mortgage payers...its long term for renters.
The Bank of England would need to raise Bank Rate by 50 basis points today if Pound Sterling is to gather support, according to analysts.
The calls follow news on Tuesday that UK core inflation rates reached a new record and headline CPI inflation beat expectations for the fourth month in a row, raising concerns the Bank of England has failed to recognise the seriousness of the UK's inflation problem.
All eyes on 12 o'clock today.
P.s. I really feel for those idiots who have overstretched themselves, can't meet their obligations, won't compromise their lifestyle and are pleading for help from the government because it's not fair.
No-one today seems to be accountable for their actions, when did UK plc become a charity?
These people are supposed to be responsible professional individuals, you should hear them, they've never experienced any real hardship.
Ok but we had the COVID episode and a now a war. I can forgive some underperformance in the back of this. Also you did not factor divis.
Current 5 year investment return from investing in Lloyds Banking Group is MINUS 30 % and most likely worse performance to come .
The longer term return is even worse .
Painful day ahead. FTSE future down big.
BP UP
BAT UP
Centrica UP
CLS UP
Glaxo UP
Halfords UP
HSBC UP
Paypoint UP
Shell UP
Lloyds down - excellent for the re purchase of 74 million shares on behalf of shareholders
Skier1.....Windfall taxes to assist homeowners with their higher mortgage payments isn't going to happen. It seems today that there is an ever increasing expectation of the government intervening in order to subsidise or bail people out who have overstretched their finances. It's the unhealhy culture of ''entitlement' where people, as you rightly say, have stupidly taken on too much debt. Why on earth should the ordinary taxpayer of this country (often only being able to rent) subsidise those who have taken on too high a mortgage. It's madness and wholly unfair. Consequently, the government should merely encourage lenders to help by altering the terms of some mortgages, such as converting to interest only for a while.
Lloyds Bank in my view stand to, overall, benefit from high interest rates. There will be a higher rate of repossessions, but Lloyds have the resilience to see that through. I see the present price as a reasonable enrty point. If it goes down below 0.40p then the sp, in my view is a steal
Lots of chat on ITV Peston tonight about walloping the UK banks with a big Tory or Labour windfall tax, to give free cash to homeowners who have mis-planned their mortgages and taken on too much debt they couldn't afford.
LLOY down
SSE down
3i down
LGEN down
BT down
Rio Tinto down
Aah, I can sleep now :)
I was just drifting off to sleep when I suddenly realised that I've not been updated on LTI's day....
How will I sleep?
YooooooooHooooooooo, LTI, update please? Else I'll never rest.
I see the worst is yet to come...imho
Buying L&G in drips, won't pay more than 228p regardless.
Lloyd's sp is a lame duck, sub 40p maybe a good buy.
Of Lloyds at about 4 years worth of underlying profits.
Long may the disappearance of shares at this price (or lower) continue.
Recessions are great for banks. Repossessing all of these lovely properties for resale later once it's all recovered, whilst gobbling up deposits and fees is a great way for banks to make money. They just don't want you to know it.
Bigger buy back today
Making hay while the sun shines
As a honest shareholder since May 2009, I extremely happy with the buy backs to date :-)
Still 30% of the pot left to buy loads under 44p