Member Info for extracover46

Ex div today.

2.4 p approved at AGM today.
I make that 6.85%

Maybe shorts being forced to close?

It's actually 100,000 per month that are experiencing coming to the end of their fixed rate deal. I make that 1.2 million per year.
Check the facts if you want!

If you can access the article-EZJ boss in S Times yesterday hinting/speculating that some European airline (other than EZJ of course) could fold over the winter months.
Have a look at the chat on the EZJ b/b.

Sorry rxdav
Started typing my message a while ago (fat fingers and 75 plus!!)

Just trying to clarify what is being said here.
I'm assuming the initial rate was 2.8% and it has now doubled to 5.6%
Whilst the mg rate has doubled the monthly amount to be repaid certainly won't have.
I'm hoping that the media who have already confused people enough with the fuel price fix do not go on to panic especially first time buyers, who may be relatively inexperienced in these matters, with headline stories about massive increases in their monthly repayments.
As an example there will situations where a variable rate (hefty) mortgage will have been recently achieved on the basis of two incomes---but then life throws them a curve ball and the mg is no longer possible on the basis of the one income etc etc
Yes-it will get difficult for many segments of the population but at least at the moment there doesn't appear to be the prospect of high unemployment rates to accompany high mg rates.

You sound like me rxdav.
Hang in there.

Don't panic.
Got my div payment via ii on Monday.
It's 5.44 pps

I think the risk of a "collapse" in house prices would be much more likely if it were combined with raging unemployment. (I am old enough to remember mortgage rates and economic/employment situations personally and GB wide from my first mg in 1977 to the present-albeit with a sometimes fuzzy recall!)
The media as usual is content to give us half the story and then to set it in the scariest of contexts.
For the 300,000 or so coming out of a fix over the next 3 months it will of course be a shock.The majority of these will have been in a 5 year fix at historically low rates. So assuming:
1. They have had a good record as regards meeting their repayments
2. Their salary/ies will have increased over the 5 year period-so affordability criteria should have improved-unless they have had a whale of a consumption time enjoying low int rates
3.The property will most likely have gone up in value so their LTV ratio will be moving in their favour
Then what's to stop them (assuming they cannot really afford the new repayments on their maybe 25 year term) to obtain a new deal over a 30 year term. )
OK that would increase the payments over that extra 5 year period but most mortgagors build in an over-payment option which could be on the cards when things get back to some sense of normality.

Question:
Do I sell BDEV today and miss on the div and buy back cheaper tomorrow or hold for the 25.7 p div?
Answers on a post card please!

"This is Money" report (2008) said av house prices fell from £62 k to just over £50 k from 1989-93.
I make that a 20% fall.
For those able to buy up distressed sellers properties at auction during this period then it is entirely possible that the mindset would be set at around 50% rather than the verified data of 20%

Click on Fundamentals -it gives you the total number of shares Divide £150 m into the no of shares.

Don't forget that the media seems to be fixated on just using a 25 year repayment example for their calculations around monthly payments consequent upon theoretical (as yet) mg rate increases.
Have they not discovered that there is an option to extend the 25 to 30 years (very useful for first time buyers who tend to be younger than those trading up) which will reduce the pain albeit increasing the amount paid;although there will be the option to overpay once things get back to normal (whatever that is).

We are nowhere near the 15% mg rates that people will have had to contend with when monetarism was the prevailing economic philosophy.
Also I gather that 75 % of existing mortgages are fixed (yes I know it will be a bit of a shock when these expire) and I also acknowledge that house prices relative to incomes are much higher now when I were a lad!
Volume house builders are in a much better state now than 2008.
Times are challenging but I doubt anyone could claim that we are even close to the period of the 3 day working week/the dead remaining un-buried and the country running out of candles.

No response in the sp as yet to the SD cut.
Thought there might have been a gentle rise at least!

Just woffle JNWI.

JNWI
Still waiting for details from you of MKS debt position.

JNWI
So what is the debt position now compared to a year ago-you obviously know a lot about MKS?
When are the various coupons having to be redeemed etc?

Agree-plus the other point that I haven't seen mentioned is this; if the gov had hammered them with an even bigger WFT do you think that the front line energy producers would be coming up with ideas (as they have been) to help reduce the impacts of high energy prices on the British people.
Off topic I know!

ok -no harm done. We will never know what he's authorised over the past few trading days as it presumably now doesn't have to be RNS'd.
ATB