Taylor Wimpey Share Discussion Threads

[sikhthetech] 04/9/2020 11:23

The leasehold scandal continues.

A consequence of the Help to Buy scheme, which I say is flawed. I think Help to Buy scheme will also result in toxic loans in the future.


PPI was a decade ago and is still ongoing.


A year ago:

sikhthetech - 10 Sep 2019 - 11:44:35 - 4434 of 11718
"I will believe a housing crash when I see it ... which is NEVER"

I believe house price will crash over the next 2-3 years...
Leasehold scandal next for housebuilders, banks and govn..
International Financial turmoil.. DeutscheBank??..
International house price crash - Dubai/India etc
Brexit turmoil..

[gbh2] 04/9/2020 11:22

GB PMI AUG Construction Actual Previous Consensus Forecast

.........................54.6 ----58.1---- 58.5 -----58

[gbh2] 04/9/2020 11:17

On the other hand Some only whine consistently about share poor price performance in the hope they attract other losers to make them feel better about their own miserable performance.

[imastu pidgitaswell] 04/9/2020 11:13

PS - a quick look at your posts profile shows 29 pages, since August 2018, of nothing but negative posts on TW. Preceded by several years of stuff on one mining commpany.

A little obsessive, no? Even more extreme than your contrarian indicator mate?

[ftir1] 04/9/2020 11:13

LOL

TW. bulls are completely delusional, they seem to live on a different planet to most normal people.

LOL

[imastu pidgitaswell] 04/9/2020 11:09

W - many people here were not holding until quite recently, attracted by the relative pricing here. So not sitting on much of a (unrealised) capital loss at all. And have made useful sums, indeed most of that unrealised capital loss just trading the swings. And will continue to do so.

But if it makes you feel better to think that we are losing lots, feel free.

:-)





"Taylor Wimpey has set aside £130 million and Countryside £10 million to pay for changes to leases it sold with doubling ground rents. Analysts were surprised that Redrow, which also had some exposure, was not included in the investigation.

Barratt Developments said: “The group is committed to putting its customers first and will continue to cooperate with the CMA whilst it completes its investigation.”

Taylor Wimpey said: “The board takes this very seriously and Taylor Wimpey will continue to fully co-operate with the CMA.”

Persimmon said it stopped selling leasehold houses on land it owns freehold in 2017. “Any customers of a Persimmon leasehold property in the last six years have been given the right to buy their lease at below market value and many have done so.”

Both Persimmon and Countryside also said they would co-operate fully with the CMA. “We are committed to resolving this issue to the satisfaction of our customers,” Countryside added."


"It will also investigate unnamed companies that bought freeholds from these developers and have continued to use the same unfair leasehold terms. Big freehold investors include Long Harbour, a fund run by William Astor, brother-in-law of the former prime minister David Cameron, and Wallace Estates, controlled by the Norfolk-based Italian financier Count Luca Padulli."

Interesting that a focus will be on the buyers of the leaseholds and are seeking to milk them.

[ftir1] 04/9/2020 10:57

WFL1970,

I couldn't agree more. The main problem is that they are "In Love" with TW. and therein lies the problem. There are so so many more better UK companies that they could have invested in!

But no, they huddle together on here and believe the nonsense they spout to themselves. It's actually quite sad.

[wfl1970] 04/9/2020 10:54

Ftir
They only speak of their traded gains... makes them feel smug and helps them ignore their capital loss from not selling months ago when their holding was worth twice as much.... probably thinking the only way was up... ;)

[ftir1] 04/9/2020 10:52

LOL

Oh dear, the mastermind investor is lecturing us all again. A short lecture this time!

LOL

[gbh2] 04/9/2020 10:44

No Idea imastu, I've been paying £3 a punt since they lowered it from a Fiver, you only need three deals a month for qualifying, that said I usually have around thirty.

[imastu pidgitaswell] 04/9/2020 10:08

gbh2 - You must be one of their platinum customers, or somesuch. Stand by for the golf day invitation...

[ftir1] 04/9/2020 10:05

LOL,

But how much have you blind fools LOST in the last 6/7 months so far?



edit: -

Don't bother replying to that because no one believes your stupid lies!

[gbh2] 04/9/2020 10:02

I made 6,851p/share and for some obscure reason IG stopped charging me Trading costs, I'm still paying the 0.5% tax on purchases but their £3 fee seems to have been dropped, long may it continue :))

[imastu pidgitaswell] 04/9/2020 09:58

There's my buy signal...

[jugears] 04/9/2020 09:56

I made 6p, not bad as I dont trade !

[ftir1] 04/9/2020 09:52

Oh dear, it looks like a lot of people have been suckered in to the recent 5p rise and now been caught out.

This is only going one way over the near/medium term. DOWN.

[gbh2] 04/9/2020 08:41

I repurchased the ones I sold at 126 on opening, not exactly a huge profit but enough to keep my trading interest going :)

[imastu pidgitaswell] 04/9/2020 08:36

Yes, most recently detailed (or summarised, as it was some time ago) in Note 22 to the Financial Statements, along with the provision relating to cladding - also voluntary.

[hernando2] 04/9/2020 08:28

Bought some more, TW have put the financial implications to bed with their actions on this matter.

I remember well many posters being incensed that they had made provisions and put house buyers back to where they should have been had they not entered into theses arrangements.

many others thought TW did the right thing , including me.

[gbh2] 04/9/2020 07:40

My guess is this "news" was known to many yesterday.

[imastu pidgitaswell] 04/9/2020 07:39

Yes, it is. Not studied them closely. I agree, I cannot imagine why anyone buys a house on leasehold terms.

[scepticalinvestor] 04/9/2020 07:32

Interesting that BKG has not been cited in this.

[scepticalinvestor] 04/9/2020 07:31

Indeed. Personally I just can't understand why people would ever buy anything except an apartment on leasehold terms - it is not rocket science and easy to understand the implications.

[imastu pidgitaswell] 04/9/2020 07:27

That will take years. TW. have made extensive provisions for making good those issues, over and above the legal requirement, from memory starting about 4 years ago. We will see.

Meantime, BKG out with a positive trading statement.