Member Info for Broomfielder

Normally in cases where there is such a large and active seller, the SP can drastically underperformed, but in NWG's case it's performance has been the complete opposite. It perhaps helps the position of HMG is clear and the reductions fully transparent as you would expect.

Recent set backs are more economy driven than specific to our Group although the Sector is having a skew of issues. Again, it's refreshing to see that the many legacy problems NWG have suffered over c 15 years appear to be being put to bed finally.

IMO, the outlook for investors in the Group is extremely positive but no-one is oblivious to the wider threats posed by the UK's and increasingly, the Global ills of over borrowed countries, stagnating economies, climate threats etc.

Love your enthusiasm luckylurker - keep it up.

".....light at the end of the tunnel"......I'm still looking for the bl**dy tunnel!

Only joking.

ATB

It probably never will....certainly not in my lifetime I'm afraid.

Babarusa - unfortunately, not a typo, but as a victim of the RBS crash, I had (for me anyway) my life savings in a lot of shares.

A life changing moment for me but I am deeply aware it was experienced by many others.

Here's to the future!

B

It's encouraging that these shares have reached 40 pence (or thereby, allowing for past consolidation and spurious capital returns etc), but there's an awful long way to go to lth's.

10 years in this Co are nothing to the many ruined by RBS' demise, but good luck to anyone who can make money from this or any other share, be they newbie or otherwise.

£259 is my breakeven price (based on today's £4 value), so a little while to wait yet I suspect.

I'm no different to newer investors in hoping the recovery in SP continues in the full knowledge past losses will never be close to be recovered, but a return to a realistic valuation must be welcome by all.

I'll drink to that.

Having been involved in investing for more than 40 years, it has finally dawned on me that I'm in the wrong 'camp'.

Always one to look for positivity and growth potential, the evidence I have garnered certainly suggests it's easier to make money on negativity.

After all, to move CBG's SP upward from here, the Market is looking for hard facts, certainty, infinite derail etc when all it needs to take the price South is rumour, scurrilous innuendo, fake news etc.

What a world!

I really don't know what people expect from CBG - the (unaudited) Trading Statement is as detailed as it can be, otherwise than clarity over the word 'transfer' of Motor Business as m007j has mentioned earlier.

If it is a sale, then it might provide more certainty but of course it will be at a heavy discount to NBV.

I thought it was supposed to be a commission issue linked to a higher interest rate being charged (than could have been)..

Certainly, if it was only the quantum of Commission being paid, a degree of scepticism would be understandable at Ms Hopcroft's statement, but, more importantly, the impact on financial providers, vehicle dealerships etc would be significantly less than feared.

However, given the current chase for the populist 'vote' these days, there appears to be various parties whose interests seem to further the destruction of commerce in this country rather than further the rights of those genuinely wronged.

Irstly, I'm not in any way connected to the legal profession, but a Judgement which states that despite material information within a Loan or Credit Agreement being contained in its Terms and Conditions, the failure to disclose the levels of commission paid to Finance providers and have the customer agree specifically to this aspect, then this is deemed to be unlawful.

Payment of such commissions were outlawed in 2021 unless the customer was in agreement knowing the amount / intent etc. The fact it WAS in the Agreement but not specifically raised with and agreed with the customer seems to be the 'crime'.

Thank you Judges, it means ALL Terms and Conditions are now irrelevant on this logic, unless each and every one of these T and C's has been raised with, receives the same overt understanding by, and agreement, of the customer.

You cannot pick and choose which T and C is more important etc than others in this absurd conclusion.

Thus EVERY Credit Agreement can now be challenged as it doesn't have to be about Commission after all, it can be any fact that can be distorted to show the customer has been disadvantaged.

It would easily be addressed by Agreements containing a clause stating the customer, by signing, not only accepts all Terms and Conditions but has taken appropriate legal advice to ensure the nature and extent of the obligations arising from signing are fully understood and accepted.

One day the begging bowl is going to remain empty!

In a lot of the media coverage and,certainly in the behaviour of the Markets since the fateful Appeal Court 'decision' (sic), there appears to be considerable satisfaction in bringing yet more finance institutions/car dealerships/brokers etc to book.

There are many fine Companies Inc CBG, now under serious threat if this malaise continues.

It's working precisely in the same manner as a 'run' on Banks albeit for entirely different reasons. The end result could however be very similar.

I do hope the players who are bringing about this scenario feel satisfied when the availability of finance for asset purchases dries up or, at the very least, becomes much more expensive. Assuming there's even anyone left to sell you the cars, houses etc.

That's a victory for you!

The vehicle sales and finance industries both need a speedy resolution of the legal judgement; not something our legal system is known for, but interestingly, the FCA also share the concerns raised by the recent Court decision on the industries affected asxwell as the impact on the FCA's own investigations.

It's becoming a beggars muddle!

https://cardealermagazine.co.uk/publish/fca-chief-executive-calls-for-clarity-and-fast-action-over-motor-finance-judgement/309413

With an ever increasing number of players calling a halt, albeit one that is supposedly temporarily in nature, to the provision of vehicle financing, there is an increasing and very real threat to substantial, segments of industry involved in the sale and finance of car sales in the UK.

From what seemed to be 'victory' for the consumer in the recent Court Judgement, it will quickly turn out to be somewhat of a pyrrhic victory if they can no longer find a dealer to buy their car or a finance provider to fund its purchase as there will inevitably be Corporate casualties should this impasse last.

Just wait until Courts fix their gaze on the broker referred mortgage Market....!

There is no end to the mayhem that could be caused here.

Lets be honest, the uncertainty over every actual and potential liability that banks/finance companies have, are among the easiest to 'play' in a negative manner. The very nature of some of these liabilities can quickly be used to create panic in many PI's minds as hard facts to counter are simply not readily to hand.

Many of these institutions were once considered 'widows and orphans' investments given their safe but perhaps unexciting prospects. The gambling philosophy of today's Markets have changed all that.

Thus, today you have to take a view (informed as best it can), and accept the volatility that comes. News, good or bad appears now to have dramatic effects on SPs in ways not seen in the past.

Having said that I took a view that as the SP fell through 300p it was looking worth the risk to top up. I guess I got that one wrong.

Still think the way is upward from now at least until more hard facts emerge as I believe CBG are well oversold.

I wouldn't like to calculate the effective Tax rate you have to pay should you be unfortunate to have to self fund your own care home costs.

Having worked all your life, tax paid at source etc you are then faced with the trashing of any wealth you may have saved whilst the person next to you may be paying nothing having been on benefits* all his life (* I accept not all lifetime claimants are not wasters).

The continuing rise in tax burden cannot continue indefinitely albeit all short sighted Govs seem to think otherwise.

Truth is, what we are all witnessing is the sun setting on the West's over-borrowed capitalist business model.

No, not the High Court Judgement, but the unending appetite for the destruction of value.

This behaviour is seen in so many ways across Financial Markets where it rewards Shorters to encourage destruction of well established businesses.

Here , CBG could be faced with a rout of its SP simply because it rewards certain players. The risk 'link' to the recent Judgement has long been overdone.

What a wonderful set up modern day capitalism has become.

The way litigation is going in this country, I don't know why anyone would want to start a commercial enterprise regardless of which sector you operate.

Agree Dinoken - certainly the better we do, the easier it becomes for the Gov to justify some additional form of taxation.

In their small minds, they will even dress it up (in NWG's case anyway) that it's simply the Banks repaying past taxpayer support - hope not however.

I think that's wise Dean's. At least , if the Budget is not as bad as feared, we might even get a 'relief rally' in the Markets.

We certainly need something to reverse this horrible sinking feeling most UK stocks seem to have these days.

According to A Winslow in today's RNS, the appointment of the new Group Chief Financial Officer will "...have a transformative impact on our business".

A rather grand statement which, if true, says rather more about DLG than it does the new appointee. I would have expected altogether more Financial sophistication by now given the length of time it has had as an independent company since it's parting from RBS/NWG.

The Gov should be doing all it can to support the UK's financial markets rather than considering measures which will further reduce its appeal.

Although I never believed it possible in my lifetime, there are now clear signs many aspects of the City are already suffering and as an industry seems to be starting to head down the same road of decline seen across whole swathes of UK industry since WW2 and before.

AIM itself seems further down that particular road with the virtual collapse of new cos seeking listing's and existing Co membership down 60%+ today from 2007.

The main markets have already witnessed migration to the US and elsewhere so, we need some imagination and creativity at the forthcoming Budget, not mindless tax raising because that simply doesn't work.

JG68 - my ref to the Financial crash was not relative to CBG, but rather to my own life changing circumstances brought about by that situation and the eye watering losses I sufferred due to my over exposure to (then) RBS shares and watching those shares crash etc.

Very conscious that many others also sufferred at that time, but, for the record, I do not believe CBG are heading for a bail out.

Rgds.

B