Persimmon Share Discussion Threads

[kreature] 12/12/2023 18:34

‘ As expected, mortgage lending falls by over 40%
Mortgage arrears surge’

Oh ffs, now what

[beckers2008] 12/12/2023 15:04

Sikhthetech,

Yeah, yeah, yawn, yawn!

ffs, do some research and tell us something new.

Tell me, when is this house price crash going to happen, I will add the year 2023 to your other 5 years of being wrong.

I'll tell you what has crashed, your only investment, the dog TLY.

You are an embarrassment, lol, just lol!

[sikhthetech] 12/12/2023 14:09

As expected, mortgage lending falls by over 40%
Mortgage arrears surge


UK mortgage lending falls by over 40% as interest rates bite


"New mortgage commitments — lending agreed by banks to be advanced in the coming months — shrank by 41.4% year-on-year in the third quarter of 2023, as high interest rates continue to take their toll on the UK housing market.

Data released on Tuesday by the Bank of England showed that there was a 16.5% decrease in new lending quarter-on-quarter, dropping to £51.5bn in Q3.

Meanwhile, the outstanding value of all residential mortgage loans decreased by 0.1% from the previous quarter, data showed, and was 0.8% lower than a year earlier.

In signs of pressure on household finances, the value of outstanding mortgage balances with arrears increased by 11.4% from the previous quarter, to £18.8bn, and was 44% higher than a year earlier."




sikhthetech20 Feb '22 - 15:26 - 5884 of 5899 Edit
<...>
When the housing market crashes, no HB is immune from the crash. Likewise, listed HBs are not immune from stockmarket falls or movements.

Govn support, provided during pandemic, has ended. Repossessions which were stopped during pandemic are legal again.
Around 30k homeowners in severe mortgage debt.
Inflationary pressure, interest rate rises, NI rises, Council tax rises, energy price rises all impact affordability.

[beckers2008] 12/12/2023 12:01

Sikhthetech,

In case you missed it...

Beckers200812 Dec '23 - 10:04 - 1124 of 1124 Edit

f66,

Someone on here said that the village idiot Sikhthetech, was ramping this pos, TLY at £3.00, lol.

It hasn't surfaced on the HB's for a while, it must be running scared, just like Marshall Wace, lol, just lol!

[beckers2008] 08/12/2023 10:19

Apologies all PSN Holders but want to catch up with the very quite resident troll, lol!
Just in case, it missed it.

Sikhthetech,

Until the FD comes clean on the impairments, goodwill and visibility of balance sheet, TLY may go lower.
The CEO painted a rosy picture earlier this year, only to sorely disappoint at the interims.

Confidence has been lost and credibility is the issue here.
TLY do not know their cost base, else they wouldn't have their contracts terminated on Quality and Performance grounds by the civil service.

It's the same old story, Sales promise the world and Ops can't deliver on budget, evidently their WIP has crashed.

Get out while you can. Richard did!

[bountyhunter] 07/12/2023 16:10

£13 looks like the new resistance level. Good to be holding above that level.

[winner31] 07/12/2023 14:24

Our resident elf is very quiet and short , but then again most elves are aren’t they !

[beckers2008] 07/12/2023 13:54

Ah look, I get a thumbs down for being correct. TLY back down to 4.8p on the bid, lol!

Good call by a few posters this morning, PSN now above £13.
A lot of pessimism maybe baked into the price, much unwinding may start here.

[onehanded] 06/12/2023 15:51

£15 next test coming up. Hope no one left short….

[winner31] 06/12/2023 15:22

Hope it stays above £13 , if it does nothing really stopping it up to £15 then a bit of resistance .

[bountyhunter] 05/12/2023 10:08

£13 certainly looking possible today sometime.

[winner31] 05/12/2023 09:43

When last month ? It’s been steadily rising since the end of Oct . In fact it’s up over £3 , for people with a bit of sense and better timing than you clearly have it’s been a good investment .

[kreature] 04/12/2023 15:40

Yep they rose compared to the dip last year but they fell compared to last month

[winner31] 04/12/2023 13:09

Looks like it will break £13 today next target £14 .

[bountyhunter] 04/12/2023 12:28

UK house prices rose for a third consecutive month in November as the market responded to hopes that mortgage rate costs had peaked.

[sikhthetech] 04/12/2023 12:06

UK house prices likely to fall by 1% next year, says Rightmove

Competition among sellers will increase as mortgage rates settle at ‘elevated&rsquo; level, website predicts

"Sellers were likely to have to price more competitively to secure a buyer in 2024, while mortgage rates would settle down though “remain elevated”, said Rightmove."

"Rightmove said the number of sellers who had had to cut their asking price during 2023 had risen to 39%, compared with 29% last year and 34% in 2019."

"But while the outlook for mortgage rates had improved, with many commentators believing interest rates may have peaked, the property website said: “Affordability remains stretched for many buyers.”

As the Bank of England signals that any cuts to its base rate are not imminent and that borrowing costs are likely to remain elevated during 2024, “some buyers’ spending power will remain limited”. said Rightmove."

[beckers2008] 04/12/2023 09:42

b,

I agree, historically in normal decades gone by, for short term traders, the adage was buy in Nov/Dec and Sell in April/May.

The start of this decade has been anything but normal giving investors extraordinary opportunities.
PSN share price holding above £12.20, investors starting to see value in HB's now, looking ahead to the end of 2024.

[bountyhunter] 04/12/2023 08:10

Up we go again, you had better close your short.

[kreature] 03/12/2023 22:03

Yep, let’s all sing jingle bells as the county councils declare bankruptcy in the UK, and households barely have enough money to buy food

[bountyhunter] 03/12/2023 21:32

The point is that with mortgage rate cuts beginning the tide has most probably turned. PSN is rising again for that reason imho as the stock market looks ahead which is why November was such a good month, Santa's rally to follow 🎅 📈

[cupra kid] 03/12/2023 21:12

Adam, a lot of those would have had pay rises too, some of them a very decent pay rise.

[sikhthetech] 03/12/2023 19:29

Another week gone and still hundreds of PSN homes available on OntheMarket.

[kreature] 03/12/2023 17:53

…and surely food prices are a big contributor to poverty, especially if you can’t be bothered to cook spaghetti. Meanwhile the same PSN homes sit reduced but still unsold imv

[sikhthetech] 03/12/2023 14:19

AdamB,

The fact is mortgage interest rate is still double what it was.

You mention 5 years ago but what about those who bought at highs over the past 2-3 years, when covid was causing mayhem?

It is those hundreds of thousands which the media/experts refer to, not those who bought years ago.

The govn SD hol ended in Sept 2021, so just over 2 years ago. There was a rush to buy homes before it ended. At that time mortgage rates were significantly lower.


The other point is Help to Buy ended only a year ago, Oct 2022. For months prior to the scheme ending, there was a rush for FTBs to take advantage. The mortgage rate was significantly lower.



"However they've had 5 years' payrises to offset that cost increase."

Pay rises were minimal when inflation was low, around 1-2%, then increasing last year, as inflation took off.
So they wouldn't have offset the doubling+++ of mortgage interest over the past 5 years.


Plus it's not just just about mortgage interest, there's also interest on credit cards/loans. Increases in council tax, utility bills, fuel etc. There was govn support for utility bills last winter but not this.