Lloyds Banking Share Discussion Threads

[grahamite2] 09/1/2020 16:54

goldfinger16 9 Jan '20 - 16:41 - 289050 of 289053

All of the big banks have just put or are putting up arranged overdrafts to 39%apr

No problem - don't run an overdraft. Next question?

[grahamite2] 09/1/2020 16:50

...if personal credit rates were hiked it might leave a little more meat on the bone to be more flexible for people who are deemed higher risk...

In other words, rates should be raised for everyone in order to subsidize the improvident? I find it hard to see a moral basis for that, especially when you consider that many of those who are not "higher risk" are themselves on low incomes but have just shown restraint in their spending.

[utrickytrees] 09/1/2020 16:50

Not sure its discrimination though Ladeside. I run my own business and if anyone rings me and starts the conversation with 'I'm after a quote or how much would it be' I politely explain that im really busy because I dont want customers who plead poverty because they're simply more trouble than their worth. Same goes for the banking sector I suppose. As a Lloyd's share holder who's shouldered the burden of the PPI fiasco I wouldn't be happy about an increase in impairments or a reduction in profits to support flatter interest rates for people who've more than likely had me pants down over the last 8 yrs. Fkem.

[minerve 2] 09/1/2020 16:49

"M2 How can the American administration be blamed for technical issues at Boeing?"

They promote crony capitalism.

Got to get those earning figures right haven't we boys - at all cost! ;)

[optomistic] 09/1/2020 16:43

gbh2...it's been some time since we had a good sign :-/

[goldfinger16] 09/1/2020 16:41

Banks are getting away with the biggest scam since PPI on their new overdraft rules.

All of the big banks have just put or are putting up arranged overdrafts to 39%apr, Lloyds group overdrafts are over 50%. The reason is it's all for the customer's benefit.

[xxxxxy] 09/1/2020 16:40

10000 years is a blink in geological time.

[gbh2] 09/1/2020 16:38

Bad sign closing under 62p!!

[ladeside] 09/1/2020 16:21

tricky, the problem with tailored pricing is that it actually penalises those who are least equipped to deal with the higher interest rates / repayments and as such makes them all the more likely to actually default.

The Banks are really just taking advantage of the situation and of course it's never questioned as it's pretty much a cartel.

The irony is that in this current world of anti "discrimination", one of the BIGGEST discriminations is how lenders can charge different rates to different people based on computer generated reports from the likes of Experian and Equifax.

Don't get me wrong, I firmly understand risk based lending (I should, given my job), however it should be as simple as you're either a risk or you're not, rather than the case of ridiculous profiteering being dressed up as risk........

[coolhandfluke] 09/1/2020 16:14

I think the single rate should be 10 pct. then we wouldn't have to invest in risky assets and we would be done with that annoying bloke with the moustache.

[utrickytrees] 09/1/2020 16:12

New car sales have declined in line with final salary pension schemes.

[utrickytrees] 09/1/2020 16:10

Valid point Ladeside, if personal credit rates were hiked it might leave a little more meat on the bone to be more flexible for people who are deemed higher risk, having said that it's a competitive sector at the best of times.

[maxk] 09/1/2020 16:05

Never spend the principal, only the interest!

[ladeside] 09/1/2020 16:00

The point that Governments, Economists and so called "analysts" are missing is that cheap credit is actually only available to around 50% of the working population due to Credit risk lending policy.

It's all very well cutting interest rates (yet again), however irrespective of the headline rate being 1%, 2%, or 3% the reality is that many are still finding themselves either being rejected or even worse being subjected to "tailored pricing" mechanisms which can see them charged rates of up to 25% from a mainstream high street lender for a simple bank loan.

The same applies to car financing and still they wonder why new car sales are in serious decline.

Really, it's not too difficult to understand or perhaps they just don't want you to understand ????

[ekuuleus] 09/1/2020 15:57

What a total fail the fca is. Normalising 12 month RIP off products.

If you want fair there should be no 22 month intro rate. Just one rate for new and existing customers.

[utrickytrees] 09/1/2020 15:57

M2 How can the American administration be blamed for technical issues at Boeing?

[mr.elbee] 09/1/2020 15:43

80% of trades are therefore dangerous,unfair and false trades.

[jordaggy] 09/1/2020 15:23

FCA should butt out too!

[minerve 2] 09/1/2020 14:57

gnr

I didn't.

Killing a few thousand Americans to me is no different to the mayhem the US causes all over the world. The fact they speak English and have a culture similar to ours makes no difference.

The US is an aggressor. It is time people realised that.

[xxxxxy] 09/1/2020 14:52

Nig lPosted January 9, 2020 at 2:08 pm | PermalinkM and S have acknowledged they got Christmas wrong. John Lewis have just moved their Chief Executive on. Excessive business rates, aggressive parking charges and more choice, at a better price etc via the Internet.We are also seeing people reduce their credit cards debts as uncertainty in the U.K. and memories of a major recession from not that long ago, weigh.No one I know is cutting back their spending because interest rates are too high. I can get nought per cent for a small fee over 30 months.Aldi has just had a bumper year and Lidl's is doing well and I know many oeople who gave switched from more expensive brands.Instead of blaming the BOE you should look at the over inflation council tax rises your government has forced on us, excessive energy bills to pay for an almost useless smart metering system, dividend tax hitting the prudent, chaos with IR 35, pension relief hits etc all reducing our spending power.Let he without sin, cast the first stone.

[xxxxxy] 09/1/2020 14:50

Poor retail salesBy JOHNREDWOOD | Published: JANUARY 9, 2020The disappointing retail sales figures should come as no surprise to readers of this blog. We are living through an entirely predictable economic slowdown brought on by Mr Hammond's fiscal squeeze and by the Bank of England's fierce monetary squeeze.We need a pro growth budget. We need the Bank of England to follow the examples of the Fed, ECB, People's Bank of China and Bank of Japan and relax money policy to promote growth. Why is the Bank so out of line? Can't it see the way it has cut our growth rate?