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Aldermore Share Chat - ALD

Share Name Share Symbol Market Type Share ISIN Share Description
Aldermore LSE:ALD London Ordinary Share GB00BQQMCJ47 ORD GBP0.10
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 235.00 234.40 236.30 - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Banks - - - - 810.14

Aldermore Share Discussion Threads

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some aggressive selling there! Wonder who..Should find out soon hopefully.nurdin
Started buying back toonurdin
It looks to me that one of the larger holders has been unloading more stock.Volumes have been substantial with big chunks changing hands. At the current price I have begun to accumulate,a 2017 p/e of 6.7 is ridiculous.mikeja
Since the Summer budget ALD's been seriously knocked off track and has repeatedly failed to get back to where it was before July budget. And this week it has again suffered at the hands of the Chancellor's proposed 'BTL' levy. I find it strange how other Challenger Banks have since managed to make some recovery, whereas ALD continues to slip. Today OSB added 19p, Paragon Group gained 13p and SHAW also finished mildly up, so why does ALD appear to struggle? No doubt Deutsch's downgrade in the wake of the Autumn Budget hasn't helped, but surely the Market must be capable of seeing beyond an Analyst's wildly variant and rather sudden about-turn. I have to admit to being somewhat disappointed at the 'over-reaction' and hope that eventually some common sense returns towards a Company that so recently reported 109% increase in profits (£44m) for the first half of 2015 and went on to exceed market expectations of £40m.mazarin
A bit of a rant here. Seriously this big sell off 14% in 2 weeks? Landlords are moving to Aldermore, look at the numbers. landlords will continue to move to Aldermore as their fixed rates and deals with big banks finish. If Aldermore continues to provide the service and rates they are, then they will continue to grow. Will landlords not purchase buy to lets anymore due to these new rules?, NO. lets say the cost to purchase is an extra £2k on average, this is over the term of the holding of the asset, minimal extra cost. In any case the landlords look at yield so debateably if yield not there then this should drive down buy to let prices slightly so in effect no change? over time they could also put up rents slightly to cover this extra cost to maintain yield? Ok there may be not be as many individuals entering into the BTL market but this is only a small amount of Aldermores book who i think are more after the larger landlords? It would be interesting to see what element of their book are smaller 'part time' BTLetters in comparison to professional landlords? Another potential upside i see is if the smaller banks argue well and hard with Mr Osborne there is a potential of an uplift in price if the challenger banks get some leeway on their new taxing regime recently introduced. How can the Govt heavily batter the challengers when they want to help them grow quickly. I am not saying the price should not have come down just realistically this is just too much and potential to buy? Will i be brave enough to top up today? Happy to hear others thoughts and be challenged!daveb12
Just keep trading on a PeG ratio of less than 0.5 Fine by me. Accumulatesteptoes yard
http://www.theguardian.com/world/2015/jun/01/rent-cap-legislation-in-force-berlin-germanyhugh garss
I'd tax landlords to the hilt and cap rentshugh garss
whatever happened to the Fair Rents committies,putting top limits on rents for hmo's etcabergele
Most tenants are already paying high rent, particularly in London and hopefully it wont be long before rental limits are introduced as there are in many European countries. Got to feel sorry for young people today trying to buy their first property getting shafted by people with already one or two homes greedily snapping up all available property to let out to the poor sods who are trying to get a foot on the ladder.waspfactory
A £400k BTL incurs an extra £12k. That's a lot of rent increase to recoup. However, I'd simply offer 3%+ less on the asking price. If the seller has held for a while then the property would have appreciated quite a bit so £12k drop shouldn't be a big issue. And the extra 3% is CGT claimable as a legit expense when you sell the property. It'll cool the market a bit for sure, but not as bad as it seems. The big issue is that now that Osbourne has started to chip away at BTL who knows what he'll do next time! That uncertainty is probably hitting the BTL challenger banks. All imo.aishah
Effectively yes.nurdin
Lump the extra stamp duty on the mortgage and increase the rent?matt
So why cant new buy to let borrowers simply increase the rental price to recoup the higher stamp duty? Or is that too naive a view point?nurdin
So only 30% of the 40% of loan book is new buy to let. Making just 12% of their total loan book on new buy to let. Is that correct?matt
FYI Hello Chris Thank you for your email. As disclosed in our half year accounts, we have a fairy diversified loan book across Asset Finance, Invoice Finance, SME Commercial Mortgages and Residential Mortgages. Within this loan book around 40% is Buy-to-Let and 60% is non buy-to-let. Please note that the stamp duty announced by the Chancellor affects only new purchases while c70% of our buy-to-let book is remortgages so our customers are not affected to that extent. The Chancellor also announced a number of initiatives for First Time Buyers and we are well positioned to capitalise on that. Let me know if you have any other questions. Regards Amittoyin
Cheers Aishah.paleje
Aldermore downgraded by Deutsche Bank on buy-to-let worries Posted 3 hours ago Banking, Shares UK Chancellor of the Exchequer George Osborne’s Autumn spending review may have had some pearls for UK homebuilders – he wants a lot more houses – but the buy-to-let (BTL) market faces tax increases and the lenders that fund it are under pressure. Many so-called “challenger banks”– smaller lenders that sprang up in the wake of the financial crisis – are particularly prone to BTL lending, and they saw their shares whacked after Osborne ended his speech on Wednesday. Now come the downgrades. Reading-based challenger bank and newish FTSE 250 member Aldermore is an early casualty, taken down to a Hold rating from Buy at Deutsche Bank, which has also lowered its target price, to 267 pence from 330p. More than 40% of its loans are BTL-related. The German bank notes Aldermore’s previous statement that changes to BTL tax relief already made had not hit its third-quarter loan volumes, and that large, corporate property owners may be exempt from the latest changes. “However, we suspect that the combined effect of these two measures (and potential further regulatory change) could see growth in the BTL market slowing,” Deutsche Bank’s analysts write. “Aldermore is indeed a small player in the market, and could take share from other players, but we think a lower-growth market could see greater price competition between peers, and/or a move for Aldermore to increase its share of owner-occupier mortgages (which are lower margin, and lower Return on Equity due to Aldermore’s 35% standardised risk weight).” Deutsche Bank doubts there will be clarity on the changes’ full impact until after April next year, when changes in stamp duty will kick in. news.marketsaishah
13/11 Deutsche Boost target 323 to 330 25/11 Deutsche reiterate buy at 330 26/11 Deutsche downgrade to hold at 267 Not doing much for their reputation is it?. I guess this is why the analyst is still working, not investing for a living. If 3% stops landlords buying (which is unlikely as paleje points out) then it goes to the private sector to buy. Guess what? It may go for slightly less money, but the private sector buyer needs a mortgage as well. Not sure what the fuss is about. If something is going on it can't be this, surely?kevph
Well Deutsch must have their reasons, but to my thinking 3% wouldn't dissuade anyone from buying to let, they will buy cheaper or load tenants. A £1000/month rental add £30 or a bit more is nothing. But I suppose and we'll tread water for some time until some evidence of the minimal effect shows through.paleje
Savage price Downgrade by Deutsche today - target price reduced to 267p from 330p and rating to HOLDaishah
Comments by Anthony Jenkins in todays Telegraph recognising threat of newcomer banks becoming household names. http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/12017825/Banks-face-Uber-moment-that-could-decimate-staff-and-branches-says-former-Barclays-boss.htmlpaleje
From Morning Star this afternoon, it's unwelcome but how much will it really affect profits:- Housebuilders were still trading higher after Osborne's statement with Taylor Wimpey PLC up 2.4%, Persimmon PLC up 2.5% and Barratt Developments PLC up 2.2%, though the gains were pared back by the plans announced to introduce a new 3.0% stamp duty levy on buy-to-let purchases in the UK and second home buyers. That new levy bruised shares in mid-cap buy-to-let lenders Wednesday afternoon, with OneSavings Bank PLC down 7.9%, Aldermore Group PLC falling 4.7% and Paragon Group of Companies PLC down 4.1%. - See more at: http://www.morningstar.co.uk/uk/news/AN_1448463195233545100/2nd-update-housebuilders-up-on-osborne-plans-to-build-400000-homes.aspx#sthash.rTFVAcWL.dpufpaleje
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