Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Doesn't matter with respect to a provision being made e.g. current bad mortgage provision, close bros etc.
And past history shows lloy will bend over nicely for FCA without any fight, spineless as they are.
Any way of putting some kind of estimate on what the exposure is to this?
https://www.theguardian.com/money/2024/jan/11/car-finance-what-is-the-fca-looking-into-and-will-people-get-money-back
Looking at guardian article - 8 in 10 cars are bought through the related car loans. Approx 1.6 million passenger cars per year sold. Period of investigation 10 years (2011-2021).
1,600000 * 0.8 = 1,280000 cases per year * 10 years = 12,800000
Estimated average claim value of variance in interest rate on loans = £2,000?
Estimated Lloyds % of loans made= 50%?
Estimated Lloyds proportion of overall cost = (12,800000 cars * £2000) / 2 = £12.8 billion....
This is obviously worse case scenario of all claims being refunded and big estimate on proportion of new car loans relate to lloyds and average value of claim. As with PPI though, they just rolled over and refunded everything....
I guess there would also be a significant administration costs for the exercise.
Would be grateful of help refining above to get a good handle on likely exposure to this.
Is it related to this :-
https://www.telegraph.co.uk/money/banking/lloyds-faces-high-court-claim-car-finance-overcharging/
Absolute total and utter b*s*a*d*s
I can see them keeping this up for years, absolute robbing toerags, ppi all over again and we the shareholders pay for it all again for years to come. Meanwhile antonia continues to feather his nest and no doubt a nice title when he retires.
Nope, hadn't been following the board so much, maybe I should have been... Was purely gut feel gamble, based on 10% or so uplift in share price at that time and potential for uncertainty moving towards the vote. Nobody but myself to blame, again.... Still onwards and upwards will continue to invest divi and long term hold, ultimately hopefully be a negligible blip as the years go by! Good luck all.
Yes, two spectacularly good trades to go with other recent great ones too that then became long term holds... First trade no choice over so a little easier for me to dodge self blame! Pure gamble on the second big sell, didn't pay off, again... Lesson learned that we can't all be as good as traders like yourself, long term hold strategy now, just taking the dividends and focussing on the day job!