Member Info for 67Sam

88

many thanks for posting a helpful summary

Garydav2

I'm guessing there is an interesting article behind the Telegraph paywall.

Simpleinvestor

"7.02 per person per day in a household for essentials like food, clothing, and toiletries, or £1.26 per day if meals are provided"

Very encouraging to see someone else who is knowledgeable about the reality posting facts instead of fantasising it's a life of luxury. The payments are to avoid destitution, but asylum seekers are forced to rely on free charity handouts because of course the payment is a complete pittance. Someone suggests agricultural work and that as an offer would be of huge benefit to the mental health of those living in hotels. The notion of forcing people to work in fields is too close to colonial chain gangs for my liking. Another poster here recently described their experience of going into a hotel used for "Home Office contingency accommodation" and they were deeply shocked by the conditions. Almost everyone else here is totally deluded into thinking people are really being given four star bed and board. There is just no reasoning with them. I do agree with many posters here that all taxpayers have "legitimate" concerns, because there is a cost to us in additional housing and particularly in healthcare and education. I dont regard myself as "disgusted", as thats just based on ignorance and prejudice. I do feel "hard pressed" as I have no money for nice things like holidays, a decent car , meals out, dating, or nice shoes and nice clothes. If I ever pay off my mortgage I will consider myself "fortunate" to have had the chance, but it's not "lucky". It wasn't had by luck, I have worked damned hard for it.

"If these laws were amended to allow them to work, they could contribute as taxpayers themselves"

Yes I agree it would contribute tax and help them avoid destitution. However I think it would enormously incentivise more new arrivals by small boat crossings. If people know they can start work immediately, regardless of whether they have any right to remain in the UK, it becomes a total free for all.

Mv

"I was just being polite" all good, I just hadn't noticed. Theres no shame in saying it like it is - far better than pretending it to be otherwise.

Dax

"bought a tiny portion back" Congratulations on your restraint. Did selling at 61 give you a profit?

Lti

"Very sensible - NOT"

Its a court of appeal ruling, no-one claimed it was sensible. Let's hope the supreme court see sense. If I get a backhander when I sell you a car, I suppose I should be telling you about it. Makes no difference if you want to buy the car though, does it?

Mix

"18 months of uncertainty means a stagnant sp...." I know, thats perfect to maximise a buyback.

Mv

"not intended to enquire into your personal finances" no skin off my nose, better you're not in any doubt.

I mean come on, how many people who drive a car off a forecourt aren't just grinning from ear to ear? Bloody Martin Lewis. Fines yes, compensation no. My best fantasy is it takes eighteen months for the FCA to arrive at that conclusion, meanwhile Lloyds buy back another 4B shares.

"|Therefore, fine them for what?"

A minor technicality that the law apparently required the dealer to fully disclose to the customer they were receiving a rate of commission from the credit lender that could be varied in a way that incentivised the sale? I dunno, thats my best attempt at explaining the used car scam.

"You are that poor" Im not poor - but I'm always broke. Big difference. I have some house equity, but I'm still mortgaged. God help people who are still poor at my age.

"if you have bought a vehicle" haha thats about as likely as me going on holiday, nil chance. My car is eighteen years old and if it fails the MOT tmw I just wont have a car, it's that simple.

I agree with Lti, this whole things is one big scam and I'll be watching closely to see if the supreme court decides to (a) destabilise the entire retail economy, or (b) be pragmatic and slap the wrists of the banks and say move on, theres nothing to see here. Leasing - pricey, but easy to budget for one all in cost.

"next week it may be £15 Billion"

:) I hope not, but yes its estimates/guesses at this stage. I liked mix's idea, fine them and move on. No need for compensation, customers knew what they were paying and no doubt they drove away happily.

"The country has never been in such fine fettle has it?"

hahahahahahahaaaaa

Mix

"It seems to me the fair outcome is to draw a line under this, fine the dealer/lenders and ensure that the rules are observed going forward. No compensation to be paid....."

Perfect you have my full support. I get your point, I mean if I decide to buy a can of beans for £1.50, do I care if they make their profits out of the tin or out of the beans - or a combination of the two thats decided by the seller?

Lti

"The amount to be returned in not set in stone, but dependant upon how much excess capital there is"

I was guessing that there wouldn't be very much excess capital with anything form £2.5B-£3.9B to have to payback for cars. Don't get me wrong - I'd be delighted if they just carried on with buybacks regardless. With the share price losing nearly 14% of its value in a week, clearly Im not the only pessimist. Conversely, it makes the benefit of buybacks that much greater. Seeing the success of past years makes me want that more than I want an increased stock of build to rent. Even in the eight years I have been a shareholder, a reduction to almost 61B shares is a huge achievement. Just imagine the effect on dividends if profits are maintained or grown, while the share count continued to reduce. Higher yield would surely one day lift the share price too.

"Can see this being the last buyback for a couple of years now"

Yes, I think thats very likely. I would prefer them to continue buybacks and stop buying rental properties instead. Otherwise the momentum is lost and the share count drifts back up every year.

Thanks hardup. Bit of a marathon this years buyback. A very good chance there will be more than 3.65 billion shares removed.

"How far is this going to drop"

How long is a piece of string? It's all guesswork. My guess is it will drop to near 50p and then I hope it may lift a few pence. But there is so much uncertainty over the motor finance issue I imagine the price will stay very depressed for many months yet. And if banks get hammered by Reeves tomorrow, my guess goes well below 50p.

"thought finally we would see some real growth in the sp "

i get that. when things are looking good i always think they look really good, a healthy income with good long term growth prospects. but as we both know, it never lasts and when it goes wrong it is just so disappointing. this share has the capacity to unravel in just a few days and then stay in the doldrums for years. i still think it's a good business, but really that has never been reflected in the market valuation throughout the years i've owned it. funny business deciding when to sell or reduce a big holding; the potential for ****** future profits always seems to outweigh the benefit of taking actual profits. then the price drops and we're left kicking ourselves.

Jeffmids

"Very annoyed"

I bet you are, thats an awful lot of lloyds shares. I am mightily p*ssed off and hold only a fraction of that number. Assuming you have a diversified portfolio, you seem to be doing rather well with over £300k in LBG alone. As you have felt negatively about Lloyds for several years now, was it not attractive to sell some when they reached 60p? You surely must be in profit owning that many?