RE: 2025 re run17 Mar 2026 16:43
It's always interestig when the share comes under pressure as to what crawls out of the woodwork.
Post redress announcement, short of the FCA regaining a sense of the law and economic stability, the next step is the first legal challenge, during which there will be no payments from any lender until the ruling is made.
What is very frequently overlooked in the supreme court ruling is the fact that the documentation error was a key part of the ruling, which brought the borrowers attention to the wrong fact and therefore a misleading distraction. The FCA overlooked this because it does not sit with the agenda that goes back to I think 2019 where they stated the intention for a redress scheme, which was seemingly an intent that disregarded the law and the fact that lenders has actually been following the FCA's own rules.
In my earlier posts from a few months back I have detailed several key failings of the redress scheme, which are legally integrated into other cases and some of these require a legal challenge in order for the FCA to be faced with the situation that the redress scheme is not aligned with what a court would award and therefore not exatly legitimate.
While some people have taken on leveraged positions or unable to just sit back and watch the show, that is exactly how the shorts make thier return, separately to index adjustments when the share is pushed outside of the index weighting. Yesterday I thought 360p was a good point to add more, which in my mind was a good price. Today someone managed to get 320p. I'm not up for bottom picking.
Short term, we have the FCA as the next and near final act of the show either end of this week or the end of next week (Friday after market close is my guess) which will remove all of the downside uncertainty on all of the lenders. This is a point where the legal challenge is not going to make it any worse, it's the final line in the sand to the down side. The markets hate uncertainty and discount anything attached to uncertainty, because it's the risk premium. If you think that the FCA is going to create anything more bearish than the legally disconnected ambition they have outlines in the consultation process then you are not quite understanding the process. By all means create a better buying opportunity. I'm sitting back and watching.
Usual guesses and comments that feed the woodworm, back to the popcorn...munch...munch....
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