Natwest Share Discussion Threads

[polar fox] 19/12/2020 20:03

This is an excerpt from the FT in Sept.2019:


Lloyds Banking Group has agreed to buy Tesco Bank’s mortgage book in a £3.8bn deal, after a vicious price war led the latter to abandon the mortgage market.

Lloyds will pay a 2.5 per cent premium compared with the loans’ outstanding book value, with Tesco’s 23,000 customers transferring to Lloyds subsidiary Halifax. 

Vim Maru, Lloyds director of retail, said: “This is a good deal for the group, our shareholders and Tesco’s mortgage customers. We believe our Halifax brand will make a good home for these customers and we look forward to welcoming them to the group.” 

unquote

[crazi] 19/12/2020 17:05

MTRO only sold the mortgages as they had to shore up capital to meet MREL requirements. They made a good decision to sell rather than capital raise. So a good deal for both companies... imho

[netcurtains] 19/12/2020 10:57

Phew! Thanks Crazi!

[crazi] 19/12/2020 10:56

You are assuming all the properties are in London. Doubt that but also most only have 2.5 years to run so if in London those people have the cash to continue payments as their monthly payments will be much lower than income on ratio as these loans will have been running for years.

Look at the mortgage market currently...BOOMING! and they only had to pay 2.7% for £3b+ loan book and MTRO's loans are also viewed as being higher grade than most other banks loans (low 60% LTV)...

Great news :-) imho

[netcurtains] 19/12/2020 10:29

Does anyone know if this is a good deal for Nat West?
It seems a heck of a lot of money when those London "million pound hovels"
have lost their appeal.

Who wants to pay a million to live in a hovel in central london when you can get loads of land in the countryside and work from home for as long as you want?

I think Nat West have bought a dud here.... Or does anyone else know differently?

[crazi] 18/12/2020 17:52

Disappointing pullback today. Really no need for it as they will still be negotiating Brexit next week. Right to the 11th hour so no-one has time to read the agreement and everyone wins when the deal is done.

In the meantime the extra trading on the market due to the fiasco:

Every trade the brokers get commissions
Every trade the Government get taxes

It's all fixed and deliberate...

[gcom2] 18/12/2020 16:19

Yes a deadline re-extension of the 18th deadline that already all expired

[crazi] 18/12/2020 12:16

He's also said negotiations can continue beyond the weekend. Back door left open - of course it is... Yawn!

Bet they are still at it next week...

[gcom2] 18/12/2020 10:59

Barnier panicking and saying "just a few hours left"Well that's his fault, the silly old fool.

[netcurtains] 18/12/2020 10:15

I cant see how they cant cobble together a deal over the weekend if the only problem is jellied eels and whelks.

[crazi] 18/12/2020 10:05

SP showing resilience against market brexit jitters...

[crazi] 17/12/2020 14:35

Furlough scheme extended for another month
Published 13 seconds ago


Chancellor Rishi Sunak has extended the furlough scheme for one month until the end of April next year.

[smurfy2001] 17/12/2020 10:33

Need dividend news

[crazi] 16/12/2020 10:55

Just taken my 2nd batch... happy to hold

[crazi] 16/12/2020 10:54

All banks edging up each day again. You have to be holding to get the gains as day trading won't work like this. Then as each little bit of good news comes from the negotiations there will be sudden jumps. No immediate deadline like last week which is good. Less pressure on the market...imho

[arja] 16/12/2020 09:14

good start but now drifting down - hope it is just profit taking after explosive start !

[crazi] 16/12/2020 07:53

Hope so :-)

[andysand] 15/12/2020 21:32

Large one day rally coming shortly. As much as 20p is likely in my view.

[crazi] 14/12/2020 19:01

They say it does cover the variants - at least they believe so...

[andysand] 14/12/2020 11:20

Deal will be done. Dividend will be paid. Target is 250p

[crazi] 14/12/2020 09:14

Bounced on hope. That's all. The market really wants to believe a deal will be done. Unless good news comes it will wear off thus why I am not chasing it either...

[netcurtains] 14/12/2020 09:00

I sold this morning - took the profit. I dont really understand the market at present so will watch and learn a bit

[crazi] 14/12/2020 08:42

I didnt expect a 5% bounce this morning. Missed it but not jumping in just yet...