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rantnrave

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3 hours ago, rantnrave said:

Housebuilders must be wondering when they are going to get their state-sponsored help to set record profits.

Oh, hang on, what's this...?

Persimmon reports 25% profit rise

27/02/18

Persimmon saw its pre-tax profits rise from £782.8m in 2016 to £977.1m in 2017. This was driven by a dramatic increase in revenue from £3.1bn to £3.4bn.

In his statement for the results, Jeff Fairburn, chief executive, said that the government’s pledge of £10bn more for the Help to Buy scheme, which provides loans to buyers of newly built properties, was vital in giving the industry  expanding  the pockets of the bosses of building companies  giving them the confidence to invest in land and development.Bentleys and range rovers for themselves 

Fixed

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4 hours ago, rantnrave said:

Housebuilders must be wondering when they are going to get their state-sponsored help to set record profits.

Oh, hang on, what's this...?

Persimmon reports 25% profit rise

27/02/18

Persimmon saw its pre-tax profits rise from £782.8m in 2016 to £977.1m in 2017. This was driven by a dramatic increase in revenue from £3.1bn to £3.4bn.

In his statement for the results, Jeff Fairburn, chief executive, said that the government’s pledge of £10bn more for the Help to Buy scheme, which provides loans to buyers of newly built properties, was vital in giving the industry the confidence to invest in land and development.

 

 

Price of land and building costs stayed pretty stable but profits have almost doubled since the introduction of HTB rising pretty much the same as the average HTB loan. How on earth can HTB to justified after seeing this?

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23 minutes ago, bluegnu said:

 

 

Price of land and building costs stayed pretty stable but profits have almost doubled since the introduction of HTB rising pretty much the same as the average HTB loan. How on earth can HTB to justified after seeing this?

Because they fund the Tory party with move the tories have given them via HTB ?

If that could be proven, should they not all be jailed ?

 

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6 hours ago, rantnrave said:

 

But the corner will be turned on 28 February. On that date, the banks and building societies will have to start repaying that £106bn. They’ll have a few years to do it, so maybe I’m being a little dramatic suggesting rates will rise overnight. But let’s say I wouldn’t, right now, lock myself into Lloyds’ one-year bond paying 0.4% or NatWest’s two-year bond paying 0.85%. The banks are going to have to offer much better rates than that to bring the money in.

Some of the big banks may pooh-pooh this. Yes, £18bn sounds like a lot for Lloyds, but then it has an £800bn balance sheet, so it’s hardly fatal. But when rivals start offering as much as 3% to get you to move money, banks won’t have a choice but to raise rates.

According to Paul Richards, chairman of Insignis Cash Solutions: “It’s likely we will see a 0.25%-0.5% increase in longer-term savings rates over the next 12 months and potentially up to 1% over the next 24-36 months, which could leave a one-year term account getting close to the 3% level.”

Mortgage brokers I speak to are nervously anticipating what the big lenders will do. Maybe competition will keep rises in check. More likely, there will be a drift upwards by 0.25% at least. But if lenders have to offer 3% savings rates to attract cash, then mortgages will have to move a lot higher. If you’re thinking of remortgaging, now is good time. And consider a long-term fix, not a two-year deal.

That's why the banks have be spamming me more than usual asking me to take out a fixed term bond....

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22 hours ago, crazypabs said:

where, in pwoperdee?

...? no.  Are you suggesting there are only two options- savings accounts with the banks or property?

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1 hour ago, Wayward said:

...? no.  Are you suggesting there are only two options- savings accounts with the banks or property?

No my friend, i was just trying to be funny but as my wife helpfully reminds me, I'm not funny...no offence meant.

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59 minutes ago, crazypabs said:

No my friend, i was just trying to be funny but as my wife helpfully reminds me, I'm not funny...no offence meant.

Sorry losing sense of humour...this is what years of HPI does to you.

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And thats all folks!

No last minute brave Tommy throwing  his last grenade of government money.

No Indiana Jones swinging in on a vine to rescue  the TFS maid from the market Cobras.

https://www.ft.com/content/549f589e-1d72-11e8-956a-43db76e69936

HSBC did not take any money. Didnt know that.

Nationwide gouged on that money like a fat kid in a bun shop,

And the challenger now become the challenged esp. One Saving Bank.

'https://www.bankofengland.co.uk/markets/quantitative-easing-and-the-asset-purchase-facility

'£127,016 million

Data as at close 28 February 2018'

 

 

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3 hours ago, spyguy said:

And thats all folks!

No last minute brave Tommy throwing  his last grenade of government money.

No Indiana Jones swinging in on a vine to rescue  the TFS maid from the market Cobras.

https://www.ft.com/content/549f589e-1d72-11e8-956a-43db76e69936

HSBC did not take any money. Didnt know that.

Nationwide gouged on that money like a fat kid in a bun shop,

And the challenger now become the challenged esp. One Saving Bank.

'https://www.bankofengland.co.uk/markets/quantitative-easing-and-the-asset-purchase-facility

'£127,016 million

Data as at close 28 February 2018'

 

 

Thanks for the link. £103bn taken out by end of 2017. What are the odds that the remaining £37bn was taken by the end of Feb 2018? When is that data out? BOE and msm coverage of the scheme's end has been minimal.

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Interesting point in FT article that banks chasing savers' deposits are going to quickly realise that UK households are no longer saving much (either due to low interest rates or not having anything left at the end of the month!).

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5 hours ago, rantnrave said:

Interesting point in FT article that banks chasing savers' deposits are going to quickly realise that UK households are no longer saving much (either due to low interest rates or not having anything left at the end of the month!).

Yeah fiddling around wiht insane policies does seem to have wierd knockon effects ....

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On 02/03/2018 at 2:08 AM, rantnrave said:

Thanks for the link. £103bn taken out by end of 2017. What are the odds that the remaining £37bn was taken by the end of Feb 2018? When is that data out? BOE and msm coverage of the scheme's end has been minimal.

I think the recent headline 'Record mortgage approvals' might be connected...

Equally the 'Challenger bank goes bust' 'Record low mortgage approval as banks struggle to raise funds' will be connected.

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On 28/02/2018 at 1:16 PM, longgone said:

i have 50k there already ;)

I have less but the it just ticks along re-investing itself.

I'm thinking about buying some NS&I bonds - hate having cash lying around ready to be taken by the real criminals.  Seems to pay better than pretty much all except the challenger banks, but they have yet to be tested without access to cheap money.  Plus maybe I get better security than a bank.  Plus inflation linked without any work.  Plus the capital is safe unlike a bond or equity fund and I've got a concern some trusts and funds might start maintaining returns out of capital (I can do that myself thanks!).  Long term thing though and no-one should copy me if I do decide to 'cause my track record is rubbish.   

Edited by Fence

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On 02/03/2018 at 8:18 AM, spyguy said:

Yeah fiddling around wiht insane policies does seem to have wierd knockon effects ....

Ying Yang, everything has an opposite.

The QE, etc yang has been there but may now take centre stage as the Ying goes ping!

As it were!

Edited by Fence

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On 01/03/2018 at 10:05 PM, spyguy said:

Gobsmacked by their first line: "We purchase financial assets such as gilts and corporate bonds in order to boost economic activity and return inflation to target".  These people really are very, very, very stupid.  They reach new lows each time I listen to them.  I've fed all possible scenarios into my well trained and experienced head and stupid just keeps popping out, the only variation being how stupid.  This is a simply a last chance (none) saloon, end game, play.  It's over.

Edited by Fence

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34 minutes ago, Fence said:

Gobsmacked by their first line: "We purchase financial assets such as gilts and corporate bonds in order to boost economic activity and return inflation to target".  These people really are very, very, very stupid.  They reach new lows each time I listen to them.  I've fed all possible scenarios into my well trained and experienced head and stupid just keeps popping out, the only variation being how stupid.  This is a simply a last chance (none) saloon, end game, play.  It's over.

Yeah.

Each time I hear Haldane, touring the sticks, doing a variant of 'lowering irs to increase growth...' routine, I want someone to ask if the BoE is supporting uk activity by liquidating its pension scheme, held in index linked gilts, and putting it in AIM.

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2 hours ago, Fence said:

I have less but the it just ticks along re-investing itself.

I'm thinking about buying some NS&I bonds - hate having cash lying around ready to be taken by the real criminals.  Seems to pay better than pretty much all except the challenger banks, but they have yet to be tested without access to cheap money.  Plus maybe I get better security than a bank.  Plus inflation linked without any work.  Plus the capital is safe unlike a bond or equity fund and I've got a concern some trusts and funds might start maintaining returns out of capital (I can do that myself thanks!).  Long term thing though and no-one should copy me if I do decide to 'cause my track record is rubbish.   

To be honest i invested for the hope factor. At least I have a chance of winning a million quid. With a savings account I get 2% that's it. If housing drops to a level I can afford again with no mortgage it will be going there.

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12 hours ago, spyguy said:

Yeah.

Each time I hear Haldane, touring the sticks, doing a variant of 'lowering irs to increase growth...' routine, I want someone to ask if the BoE is supporting uk activity by liquidating its pension scheme, held in index linked gilts, and putting it in AIM.

Nassim Taleb has a rule of thumb. If someone high profile pushes an opinion, but at no cost to themselves whatsoever, then the opinion has no value.

Haldane is a corporate BoE VI. He's not interested in truth or collective interest. He's interested in maintaining the status quo with him in it. You didn't need me to tell you this of course.

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1 minute ago, TonyJ said:

I get email alerts about the interest rates for the savings market. The market for instant access and notice accounts is still dead as a dodo. ALL the banks are trying to push tehir fixed rate accounts, which seems like a big con - trying to get people to fix on at a lower rate before rates go up?

What is the penalty for withdrawal?.....just because it is fixed at a higher rate, doesn't mean it cannot be withdrawn at any time.....;)

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9 hours ago, TonyJ said:

There are so many new fixed rate accounts being constantly pushed at the moment. It is really teh only kind of accounts they are offering. As far as I have noticed, withdrawal during the fix is not allowed - you're locked in.

I’ve avoided fixed rate  accounts  which are more than one year  because  I’ve been living in hope of interest rates rising ? and obviously don’t want  to be locked into something when (if) it does happen but now I’m going to do a 3 year bond 2.2% with NS&I. This is the important bit you CAN  withdraw your money with this  particular bond  at any time (hopefully when interest rates start rising or if you really needed it for something ) and then  you would  just lose 90 days interest . The extra you’re making at 2.2%  instead of investing it in  the best instant access account (RCI Bank 1.3 %) would  more than cover your 90 day penalty . I’ve got no time for banks but I do think this particular account is a bit of a  special because of the ability to withdraw .

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5 hours ago, Gemma Rose said:

 now I’m going to do a 3 year bond 2.2% with NS&I. This is the important bit you CAN  withdraw your money with this  particular bond  at any time (hopefully when interest rates start rising or if you really needed it for something ) and then  you would  just lose 90 days interest 

  • invest up to a total of £3,000 per person

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  • 224 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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