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''The resulting change (drop) in exchange rates will upset more than it pleases. ''
Sterling down today with US data
MP,
Your the one that said you were "concerned"
Don't stress over it,
Sell up!!!
UK inflation due to fall further - energy costs for households down from today
“BOE may not move on base rates independently”
Can't see the BoE making any unexpected moves like Switzerland the other week. The resulting change (drop) in exchange rates will upset more than it pleases. But the UK's inflation rate is still @ 3.4%, well above the 2% target.
Bailey, as he has demonstrated, is a follower not a leader.
Just my opinion.
Dow getting a bit giddy - from nearing the 40,000 heights, with sticky inflation meaning the 10 yr comfortably above the 4% level.
BOE may not move on base rates independently
MP
''its a vicious circle ''
is it? -
a lot more fear needed re car loan farce to get back to my last purchase level.
Lloyds banking group is in the best shape since it was formed. Since it was formed we have had a high of about 90p per share with more shares in issue.
Still a long way off of pre pandemic levels of the 60's which had a temporary dip due to the buyback having to be stopped due to the appearance of a last PPI instalment.
I am hoping for a lot more fear re car loans farce to get back down to the small range that HU was guessing would be the case during the buyback because of the car farce.
Would be great for the buyback, but I will not be complaining of a continuation of the upward tread, getting near to some selling contemplation levels.
LTI
"MS could do with a lot more help from greater numbers of willing sellers."
I am sure they will get plenty of interest post xd, at 57/58p pre xd they could have mine - somebody will sell them back to me at a lower price - its a vicious circle - and good fun.
If one has to sell Lloyds shares ? I suggest you shouldn't of bought them in the first place. 😏
Wave10
"Your obviously negative and losing sleep"
Not at all, I manage my holding to generate gains in excess of the dividend since 2018 this has been very rewarding and I sleep very well - thank you.
CGRam,
Standby I'll just get the crystal ball out!! LOL
Some on here might say 80p or Falky would say 30P, take your pick!
I need to sell a few Lloyds shares and IMHO think my best bet would be to do so pre-divi for best value for money.. Anyone care to give their humble option of what it will peak at before it goes ex-divi on the 11th April? Thanks
It is even crueler than it says on the tin - 'Critics say the legislation is so broadly drawn that someone could be considered a nuisance for sleeping in a doorway, being deemed to have an excessive smell or looking as though they intend to sleep rough.'
https://www.theguardian.com/society/2024/apr/01/ministers-face-tory-revolt-over-plans-to-criminalise-rough-sleeping
Does that mean that old people who have that old person smell are now criminals?
It could be a great way to 'clean up' the House of Lords.
CaptainS.....What about switching to Natwest if you do decide to switch? At current share price Barclays dividend yield is 4.36%. At current share price Natwest dividend yield is 6.4%.
Capt & MP
MS could do with a lot more help from greater numbers of willing sellers.
Probably a Hate Crime to Answer that. 🙈🙉🙊
Good afternoon all. I'm considering a switch from Lloy to Barc. Both have performed well over last 6 months. I'm slightly jittery about car finance and feel that Barc has lower risk. Sensible or daft idea? Any insights would be useful. Thank you in advance.
MPO,
Your obviously negative and losing sleep,
Sell all your holding,
Simples!!
Https://www.lse.co.uk/news/LLOY/uk-car-finance-firms-face-headache-of-potential-compensation-claims-c5nkzvqngka6bo0.html
Quite right too, shameful people invested at Landlord Lloyds need a sense of reality.
Let's hope that all dirty unscrupulous Landlord Banks get what they deserve in the near future.
Fingers crossed they are hammered hard for their dirty tricks and investors here lose out :)
"Expert Martin Lewis revealed earlier this month that 1.1 million people had submitted complaints through a free tool on the MoneySavingExpert.com website, which he founded.
He described the number of complaints as "staggering" and suggested that car finance mis-selling could be the "second biggest reclaim payout in UK history" after the PPI scandal.
That saw UK banks pay out billions of pounds in compensation to customers who were mis-sold personal protection insurance from the mid-1990s.
Evans suggested that the scale of those affected has the potential to be "on par" with PPI."
Who gets to benefit from this, lawyers, the end user will get 30 per cent of any claim just like ppi
LTI - I do not disagree with any of your comments, however it does concern me that LLOY set aside the £450m. I would like to think that any "car loan documentation" clearly set out (in the small print) the terms of any commission payments. The regulator needs to justify their existence and could jump on that provision to extend the investigation. Following PPI the culture is now to make a claim on the chance of getting a payoff. The cost of providing information of loans going back years could be substantial with or without any liability arising - it's a mess.
Looks like the FTSE 100 will jump back over 8,000 on Tues. The UK market is finally looking bullish (for now).
@johndean......I missed your post!
I see the MSM are banging the drum again today about car finance! FFS!!!
"Millions of claims could be lodged by UK drivers who may have overpaid on their car finance, as the emerging issue has the potential to be ‘on par’ with the PPI scandal, a consumer compensation expert has said."
https://www.lse.co.uk/news/uk-car-finance-firms-face-headache-of-potential-compensation-claims-c5nkzvqngka6bo0.html
MPO818
Seems it may not have anything to do with buybacks itself If you compare with europe banks index that seem to have fallen in the same period for years included in your list. (Google “ SX7P chart ” and check 5 years chart).
Alliance News) - Millions of claims could be lodged by UK drivers who may have overpaid on their car finance, as the emerging issue has the potential to be "on par" with the PPI scandal, a consumer compensation expert has said.
The UK's financial regulator is currently reviewing whether people could be owed compensation for being charged too much for car loans.
It is looking into hidden and unfair commission arrangements on loans taken out between 2007 and 2021.
Simon Evans, the boss of trade group the Consumer Redress Association, which represents claims management companies, said that people are likely to have bought more than one car during that period.
This could more than double the number of claims that come through.
It comes after consumer expert Martin Lewis revealed earlier this month that 1.1 million people had submitted complaints through a free tool on the MoneySavingExpert.com website, which he founded.
He described the number of complaints as "staggering" and suggested that car finance mis-selling could be the "second biggest reclaim payout in UK history" after the PPI scandal.
That saw UK banks pay out billions of pounds in compensation to customers who were mis-sold personal protection insurance from the mid-1990s.
Evans suggested that the scale of those affected has the potential to be "on par" with PPI.
"If you think about the number of people who have bought cars in the last decade-and-a-half, there is a swathe of people who will have bought it in that way," he said, referring to the discretionary commission arrangements.
"What we are seeing through our member firms who are engaging with consumers at the moment is that actually each person has an average of about 2.3 claims.
"So they have had two or three cars in that period and all of those qualify for a claim."
This is likely to cause a "large headache" for car finance companies, Evans said.
But he added a "note of caution on the good work Martin Lewis is doing", suggesting that while many people will have downloaded the template complaint letter, it may not mean that they will all have taken the next step of sending it to their lender.
Meanwhile, the chief executive of the Financial Conduct Authority, Nikhil Rathi, recently downplayed comparisons with the long-running PPI redress.
He said he did not anticipate the car finance issue "playing out as PPI did", partly because the watchdog has intervened earlier.
Lloyds Banking Group PLC, which owns Black Horse, the UK's largest car finance lender, said last month it was setting aside a provision of GBP450 million to cover potential costs related to the FCA's review.
That includes the potential compensation for consumers as well as administration costs in dealing with complaints