Member Info for Richard365054

I suspect there will now always be plenty of legal firms chasing the next easy bucket of gold. Society has forever changed into wanting something for nothing. Are we yet to hear claims for "I didn't know what an interest only mortgage was when it was sold to me".
We get to see what people are like when they believe they know better than all the experts and the government say we need to take a certain course of action. One irresponsible individual was asked why he was ignoring the instruction to maintain a certain space to other people as he might unknowingly infect or contract the virus himself and his retort was that other people should stay inside.

Staggering valuations in the market place. RBS has a market cap of around £11.2 Billion. It's share price is 20% of what is was 10 years ago. Lloyd's is about 40%.
The government is stepping in to provide support for the self employed. We easily forget pensioners but there are many that rely on dividends for their modest income. Lloyd's is one of the most popular share holdings and their year end dividend is very important for a significant number of retired citizens. They are also the same people who have been doing a lot of unpaid voluntary work.

Taskmaster, thanks for that, much appreciated.

If anybody doubted how deadly this virus is only needs to look at the latest Italian mortality figure. A truly shocking period for this lovely country. Does anyone know if there is a fund where people may express their sadness and give something that the affected regions may benefit from in the future.

I make it 67 days.

I remember buying a chunk of shares just above 20p around 6 years ago. I would have to check the date.

But the cases you have quoted are not transmittable infections. Corona virus is and it's very potent. The battle is to minimise the consequences.

I do voluntary work at an animal rescue centre, sometimes it's mending fences and erecting gutters, although I much prefer looking after the cats and you hear and see some terrible cases. I was listening to an MP on the way home via Asda to do some shopping for myself and a neighbour and he was saying how this pandemic would help people to pull together as one, reminiscent of the wartime spirit.
It was about 1.30pm and the store resembled Christmas Eve when everyone goes crazy. No milk, butter, margarine, loo rolls, paper towels, tissues, mincemeat, burgers. Very low stocks elsewhere and the wine section was so depleted it appeared that they would become the next empty isle. I chatted with a home shopper doing the picking and she said the shelves were mostly replenished by 6.00am but are close to empty by 7.00am! The best advice seems to be shop online as the pickers work from around 5.00am and try and book an early delivery slot.
Out in the car park I watched one gentleman shopper who had two trollies piled high with goods. He had no reusable carrier bags and he was literally throwing everything loosely and untidily into the boot of his car and pretty well filling it completely.
Wartime spirit! Not a lot on show that afternoon.

That was a different era of communication, healthcare and poor food following four years of total war. People were exhausted, malnourished and communicating information and facts in it's infancy. Medical supplies and food took months to reach distant countries and people were virtually fighting the pandemic alone.

Because the Corona virus is a mass silent killer. You have to accept what the medical experts are saying. If you read how painful the suffering is for those who contracted and since recovered, you wouldn't wish this on anyone. The issue that is concerning is very few people are being tested and estimates for those affected cannot be substantiated. Conversely, an individual tested yesterday and given an all clear could be infected today.

The majority of the cash Lloyds hold is not reserved for shareholders. There's more money held for ppi payments, suspended share buy backs and the suspended technology revamp. It will be interesting to see how Lloyds views the developing situation. Huge swathes of shareholders have stuck with them through thick and thin.

I completely agree with you about where a sizeable proportion of dividend payments are directed, particularly in view of the number of long term investors who rely on dividend payments for their pensions and ISAs. But lloyds have not treated, in my opinion, this section of the public as well as they should have done and i feel a little uneasy about how lloyds might respond in the next few weeks.

That may be true, but the evidence of what happens if the virus remains unchecked is clear to see in parts of Italy. I think in one location at the epicentre, those over 80 with the virus have a 22% mortality rate. Those statistics are frightening and you are not safe just because you are 69 or 49. The virus is an invisible killer and it's quite right that major precautions are taken. One problem however, is that only hospital cases are being tested and the vast majority of infected people are in amongst us. It is sensible to take extreme precautions when you may infect and kill people.

William Hill have suspended their final dividend announced in February 2020. I wonder if Lloyds are considering a similar suspension, although the cost saving would be about equivalent to suspending ppi payments. Time will tell, but I think the shareholders have been kicked down the road long enough.

Extraordinary looking at some valuations. If Lloyds used the suspended buy back capital now they could hoover up 2 Billion shares.
RBS are trading at around 11p. (I rather ignore the 10 to 1 consolidation). In September 2010 they traded at 51p. Lloyd's traded at 77p and are now at around 33p. RBS have fallen a long way.
Prudential were almost £18.00 and are now around £7.00. At the height of the financial crisis you could sweep them up for £2.00.
What a crazy world.
You look at the pictures and see how many supposedly intelligent people are panic buying. Humankind doesn't really change at all.

It's been a while since I was involved in the mortgage market but things have changed a great deal. When I obtained my own mortgage, 3 × salary was applied, whereas today it can vary between 4 and 6 times depending on circumstances. Joint incomes had a 2 1/2 multiplier applied. Today it can be twice that figure. Shortly after I took my mortgage out, interest rates hit 15%:and 16%, a figure many people today couldn't comprehend.
Did I read an earlier post blaming the Flybe demise on Brexit. Humour is alive and well.

If they find against lloyds, perhaps AHO would settle the amount since he claimed he had personally looked into the case. More likely the shareholders will have a future dividend reduction.

I well remember those interest rates on my mortgage in the late '80s/early 90's. You learnt to live with it.
Many people these days have got used to buying luxury goods and either leasing or putting the debt on a plastic card. It's become all too easy. I've only ever once bought a new car as I can't see the point of suffering the depreciation in the first year or two. I have a nephew and he's never bought anything other than a new car and latterly does PCP's. He'd love a classic car to put away but doesn't have the money- his words. You make your own choices. I have two lovely classic cars and my seven year old road car does me fine. Most of us don't use our daily cars more than 5% of the time.

It's pretty comparable to a license to print money. They're effectively issuing a 1% increase in shares each year. What should be our dividends are partly being used to buy them back. Nice little racket.

"In the run up to the end of August Lloyds received 5 million new claims but only 10% resulted in a compensation payment".

Lloyds find it oh so hard to be open and state facts. Historically, Lloyd's have received around 275,00 claims a month since 2011. In March of last year they calculated that the £1.3 Billion set aside would be sufficient if the level of claims didn't increase. Just over what period the 5 million new claims were received is not mentioned, so we are left guessing. If we assume that July onwards saw the spike occur, this would tie in to the extra £550 million being set aside. But they were already allowing for 550 ,000 claims, so do we assume that 4.5 million additional claims were received in this period. £2,500 compensation per claim would cost a total of £1 Billion, yet they have set aside two and a half times this amount.

Open and honest lloyds are not and never have been. We'll be left guessing until year end 2020 when Lloyd's write the last compensation cheque. It would be interesting to hear from some of the claims' handlers how they are experiencing this whole process because the Board do not like us to have the facts.