Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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“ Where does this 35% discount come from? As far as I can tell rent to buy opens the possibility of shared ownership after 5 years, where the tenant is given the option to purchase a stake in the property.”
I believe now this discount is for Local Authorities owned property, not the private sector. The other information you posted explains it well for private landlords and I was originally thinking that the LA options applied to the private sector as well, which it doesn’t.
If there's some way labour can extract monies from the rental sector, landlords or tenants, rest assured they will find a way.
I've only glanced at this thread, but this is what I've quickly found.
https://www.citra.co.uk/pathways/
"Your pathwayfrom renting to home ownership
We provide quality rental homes in places where people want to live and work, with a focus on new homes for families and professionals.
We also realise it can be difficult to get your foot on the property ladder and we want to help you own your home.
Our Pathways scheme lets you try before you buy. You can choose to rent for as long as it suits you, and then later you can buy your home through shared ownership. In most cases, you’ll only need a deposit of 5% of the share you’re buying."
https://www.gov.uk/guidance/capital-funding-guide/2-rent-to-buy#:~:text=1%20Organisations%20must%20be%20Registered,1.3.
"1.3.4 After the initial five year letting period the provider may continue offering the property as Rent to Buy; sell the home on an outright basis with the tenant being given the right of first refusal; or retain and convert the home as rented housing on either an affordable or market rent basis."
"2.1.3 If, after the initial five years of letting, the landlord wishes to sell the property the existing tenant should have the right of first refusal.
2.1.4 If at any point after the initial five years of letting the tenants submit a request to buy their home, it is expected that the landlord would agree to sell except in the most exceptional circumstances."
https://www.gov.uk/guidance/capital-funding-guide/1-help-to-buy-shared-ownership
Where does this 35% discount come from? As far as I can tell rent to buy opens the possibility of shared ownership after 5 years, where the tenant is given the option to purchase a stake in the property.
“ I thought the right to buy only applies to Local Authority tenants or Housing Association tenants? I t does not apply to private landlord tenants, and Lloyds will be a private landlord.”
OK, that clears it up, thanks. Was getting concerned for a while that this was going to be a disastrous venture for LBG.
Forgot to post this link.
https://lordslibrary.parliament.uk/right-to-buy-past-present-and-future/#:~:text=the%20local%20authority.-,1.2%20Housing%20Act%201980,to%20buy'%20their%20own%20home.
I thought the right to buy only applies to Local Authority tenants or Housing Association tenants? I t does not apply to private landlord tenants, and Lloyds will be a private landlord.
I have been looking at R2B and if I have got this right it could be a disaster for LBG. My understanding as an example is if a tenant has been in two rental homes and had two different landlords they qualify for four years R2B. This tenant then moves into a LBG rental home and at the end of the year they have reached the five qualifying years to invoke the R2B.
So as an example this tenant is in a LBG home that was built new say for 400K, to keep things simple we will say at the end of year one it is still worth the same. The tenant now is wanting to buy the property and with the 35% discount they see a sum of 140k but the cap is 102k which means the tenant can buy the house for 300k. Very nice deal, wished I could have had something similar when we had a straightforward mortgage and paid for it in full!
In that first year let’s say the rental income was 20K and now LBG are forced to sell it at 300k, that translates into a thumping loss, how can LBG justify any loss like this to us the shareholders? In fact any private landlord is potentially not going to see the rental market being a fair business opportunity.
If I have this totally wrong I am happy for someone to explain it so that I understand how this benefits LBG and others.
“ Citra Living, part of Lloyds Banking Group, is to bring more than 150 new family homes to the rental market in Gloucestershire. ”
I assume this means that the tenants will have a right to buy after five years if they wish with a 35% (or with max cap) discount? I don’t see how this is going to benefit us as shareholders if LBG is forced to sell them again after such a short time scale. The amount they derive from rental income has the potential to be wipe out. Have I missed something?
Citra Living, part of Lloyds Banking Group, is to bring more than 150 new family homes to the rental market in Gloucestershire.
Citra, which owns and operates a portfolio of more than 2,000 homes across the UK, has acquired 156 new properties from the country’s largest housebuilder Barratt as part of a strategic partnership between the two.
The homes are situated at Barratt Homes Bristol’s new Winnycroft Lane development in Matson, near Gloucester.
The portfolio acquired by Citra includes a mix of 2, 3 and 4-bedroom properties, with the first homes expected to be ready for families to move in this summer.
https://www.landlordtoday.co.uk/breaking-news/2024/4/lloyds-banking-group-expands-private-rental-portfolio-again
Won't be funny when your wife is forced to cover her head hope you all happy with the vote
Brix
"28% buyback complete & only 52p =Motor Finance thingy-bob stuff 😏"
True, also it means more shares to be bought back with the remaining 72%.
Interim divi increase history -
2015 - 0.75
2016 - 0.85 +13.3%
2017 - 1p +17.6%
2018 - 1.07 +7%
2019 - 1.12 +4.67%
2020 - 0
2021 - 0.67
2022 - 0.8 +19.4%
2023 - 0.92p +15%
2024 - 1.06p? +15%
“ LTI states below he has told the BoD that dividend will be 3p this year??”
He might be right that this years divi will be near the 3p mark. When the divi started after the Covid drought the BoD reduced it by nearly 40% to start at 2p. Then they announced as LTI said an handsome yearly uptick on the divi which is also correct at nearly 20% for the last two years.
This isn’t going to be sustainable for much longer as if they did it again we could be looking at a divi of about 3.3p for this year which somehow I doubt will happen but would gladly take it if they do. 3.3p takes us back to the level of about 2018. That is six years just to get back to a previous divi of value.
My gut feeling is that for the next two years the divi will increase by about 9-10% each year and then we will be looking at about 3.3p.
The only next step change upwards will be if the next two or three years sees a continuation of buybacks. If the shares in circulation comes in at 50B and the pot is the same as now then in three years time the divi could be around 3.6p a share. I could settle for that in retirement but of course would always like more but I feel that the 3.6p is more realistic and anything above that will be a bonus. May even see a special kicking in at this time.
Just my ramblings on ‘what if’
Now, now, Nomlungu, no need for that disparaging remark.
Asparagus - as reliable as a lettuce?
Starmer to stand down this month???
Labour to elect new party leader before . . .
UK General Election Mid August?
Asparagus fortune-teller predicts when next general election will be - and it doesn’t look good for Starmer
https://www.independent.co.uk/tv/lifestyle/asparagus-fortune-teller-general-election-starmer-b2536495.html
Started this fantasy portfolio in 2016 to challenge various poster's perception that lloy is 'the worst share ever', 'better else where' or a 'dire share' - On 8th oct 2016 i invited wl/newchurch to choose an alternative ftse100 company, so i could run a comparison - since 2016 others have been added
~~~ on 8th oct 2016 - - 1000 quid bought 206 bp. shares & 1905 lloy shares
today's value, bp. 206@510 =£1051 v lloy 1905@52.2 =£996
~~~ in April 2017 invest4life suggested i add glencore - - on 22-4-17 - 1000 quid bought 335 glen shares & 1553 lloy shares
today's value, glen 335@455 =£1524 v lloy 1553@52.2 =£812
~~~ in July 2017 nucky suggested i add rbs/natwest - - on 12-7-17 1000 quid bought 384 nwg & 1512 lloy
today's value, nwg 384@305 =£1171 v lloy 1512@52.2 =£791
~~~ in july 2017 utrickytrees asked that i add barc - - on 30-7-17 1000 quid bought 479 barc & 1504 lloy
today's value barc 479@202 =£968 v lloy 1504@52.2 = £787
~~~ in sept 2018 motley fool recommended diageo over lloyds - - on 9-9-18 1000 quid bought 37.3 dge & 1704 lloy
today's value, dge 37.3@2729 =£1018 v lloy 1704@52.2 =£891
~~~ in april 2020 theosus asked that i add circassia - - on 14-4-20 £1000 bought 3891 cir/niox & 3058 lloy
today's value, niox 3891@70 =£2724 v lloy 3058@52.2 =£1599
~~~ in april 2020 theboard asked that i add rollsroyce - - on 25-4-20 £1000 bought 322 rr. (post 10for3ri 1073) & 3367 lloy
today's value, rr. 1073@418 =£4485 v lloy 3367@52.2 =£1761
~~~ this week's observation - quiet week for Bank following Q1 results, russia/ukraine/israel/hamas hostilities rattle on - cost of living continues to bite, strikes strikes strikes, 1st Rwanda takes off, more flights in 6wks? Local elections, Mayoral elections, Starmer to stand down? GE Mid Aug?
A very basic comparison that does not include divi yield, imo those still suggesting lloy is 'the worst share ever' or a 'dire share' should maybe consider premium bonds?
Pure bul l s h i te then and pure bul l s h i te now.
Gap watch Lloy - Current SP - 52p
21st-24th Feb 20 - 55.17p
10th-13th Jan 20 - 60.1p
23rd-24th Jun 16 - 71.1p
27th-28th Oct 15 - 77.1p
~~~~~~~
Gap watch Barc - Current SP - 202p
2nd-3rd Nov 23 - 133.4p
19th-20th Feb 24 - 150.46p
20th-21st Mar 24 - 175.98p
17th-18th April 24 - 181.1p
19th-22nd April 24 - 185.9p
22nd-23rd April 24 - 190.04p
24th-25th April 24 - 193.44p
11th-12th Aug 15 - 278p
~~~~~~~
Gap watch NWG - Current SP - 305p
2nd-3rd Nov 23 - 182.35p
20th-21st Mar 24 - 246.6p
21st-22nd Mar 24 - 253.8p
27th-28th Mar 24 - 263.1p
19th-22nd April 24 - 277.2p
25th-26th April 24 - 290.8p
23rd-24th Feb 11 - 471p
11th-12th Dec 08 - 648p
Based on LSE tech chart --- https://www.investopedia.com/articles/trading/05/playinggaps.asp --- https://allstarcharts.com/gaps-need-filled/
STP
"and star choice position chancellor to go to go to safe labour hands. " 🤣🤣🤣
https://www.youtube.com/watch?v=sqTxfzCvItw
Key dates over the coming weeks/months -
Local elections - 2nd/4th May
Local Mayor election - 2nd/4th May
Lloy AGM - 16th May
Lloy divi pay day - 21st May
Lloy H1 results - 25th July
UK GE - Aug 2025?
Lloy interim pay day - Sept?
Lloy Q3 - 23rd Oct
US election - 5th Nov
Labours Economic Collapse 2027/28?
Total Voting Rights
29th Mar 2019 71,196,168,225 -154m
30th Apr 2019 70,864,314,036 -332m
08th May 2019 71,409,314,036 +545m
31st May 2019 70,956,983,504 -452m
28th June 2019 70,764,310,880 -193m
31st July 2019 70,472,185,753 -292m
30th Aug 2019 70,128,674,524 -344m
30th Sept 2019 70,026,650,473 -102m
31st Oct 2019 70,036,069,794 +10m
29th Nov 2019 70,044,224,961 +8m
31st Dec 2019 70,052,557,838 +8m
31st Jan 2020 70,285,353,360 +233m
28th Feb 2020 70,426,890,295 +141m, total for year MINUS 923m shares
31st Mar 2020 70,442,102,615 +16m
30th Apr 2020 70,453,630,525 +12m
29th May 2020 70,752,109,189 +300m
30th June 2020 70,762,180,096 +10m
31st July 2020 70,774,420,907 +12m
28th Aug 2020 70,787,965,706 +13m
30th Sept 2020 70,802,126,471 +14m
30th Oct 2020 70,815,383,752 +13m
30th Nov 2020 70,829,127,790 +14m
31st Dec 2020 70,839,206,060 +10m
31st Jan 2021 70,849,366,949 +10m
28th Feb 2021 70,859,202,885 +10m, total for year PLUS 433m shares
31st Mar 2021 70,945,784,662 +86m
30th Apr 2021 70,954,353,687 +9m
28th May 2021 70,962,362,830 +8m
30th June 2021 70,970,030,431 +8m
30th July 2021 70,978,544,624 +8m
31st Aug 2021 70,986,783,092 +8m
30th Sept 2021 70,995,638,276 +9m
31st Oct 2021 71,005,038,043 +10m
31st Nov 2021 71,012,823,613 +7m
31st Dec 2021 71,022,593,135 +10m
31st Jan 2022 71,038,165,242 +16m
28th Feb 2022 71,047,437,994 +9m, total for year PLUS 188m shares
28th Mar 2022 70,305,970,390 -742m
31st Mar 2022 70,176,792,699 -129m
30th Apr 2022 69,666,692,662 -510m
31st May 2022 69,647,400,492 -19m
30th June 2022 69,042,821,945 -605m
29th July 2022 68,479,354,394 -563m
31st Aug 2022 68,243,054,666 -236m
30th Sept 2022 67,804,960,981 -439m
31st Oct 2022 67,269,682,667 -535m
30th Nov 2022 67,278,416,588 +9m
3rd Jan 2023 67,287,852,204 +9m
31st Jan 2023 67,406,788,337 +119m
28th Feb 2023 67,386,199,641 -200m total for year MINUS 3.661bn shares
28th Mar 2023 66,686,047,352 -700m
31st Mar 2023 66,615,936,756 -71m
30th Apr 2023 66,006,787,187 -609m
31st May 2023 65,652,037,259 -354m
23rd June 2023 64,961,222,997 -691m
30th June 2023 64,640,297,474 -321m
31st July 2023 64,359,436,417 -281m
31st Aug 2023 63,540,750,749 -819m
29th Sept 2023 63,546,314,345 +6m
31st Oct 2023 63,557,085,373 +11m
30th Nov 2023 63,562,569,090 +5m
29th Dec 2023 63,569,225,662 +7m
31st Jan 2024 64,086,434,019 +517m
29th Feb 2024 64,089,844,132 +3m total for year Minus 3.297bn
28th Mar 2024 63,716,020,308 -373m
30th Apr 2024 63,217,141,122 - 500m
"most are Russian " 😆 in a couple years time your be wishing Putin was in charge of this 5hit hole you Tory/ Labour Bunts have created.
Just giving you the heads up here.. tories have trashed within an inch of their lives labour about to move into the ana15 of power and star choice position chancellor to go to go to safe labour hands. Please adjust your rolling weekly commentary accordingly.
Not a great day for Labour though STP.
Extrapolate results to a general election and it's a hung parliament.
Even after 15 years and the Tories universally hated, you left wing rabble still won't win a general election outright.
Labour's win will be by default, not because everyone wants a socialist party in charge.
Well done you !!