UK Mortgages Share Chat (UKML)

Share Name Share Symbol Market Type Share ISIN Share Description
UK Mortgages Limited LSE:UKML London Ordinary Share GG00BXDZMK63 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 93.25p 92.00p 94.50p - - - 69,585 06:41:48
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 1.2 -3.9 -1.7 - 233.13

UK Mortgages Share Discussion Threads

Showing 1 to 9 of 25 messages
Chat Pages: 1
DateSubjectAuthorDiscuss
09/12/2016
10:09		Continuation vote passed
stemis
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25/11/2016
08:58		Price has drifted down to NAV. Presumably in light of imminent continuation vote?
stemis
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02/11/2016
22:45		It was just a illustration rather than a forecast. I've used the Nationwide BS mortgage rates rather than what UKML are actually receiving on the assumption that UKML would need to offer a comparable rate to prevent widespread switching. Maybe their higher rate (currently 3.36%) will stick and there'll be upside. Actually they've achieved greater leverage on the first batch of mortgages (6.8 x) so that should help returns. Defaults are clearly a risk. I'm guessing they must have made some assumptions in their rate of return as it looks low just on the above numbers. (For information I don't currently hold. I'm just trying to get my head round the numbers)
stemis
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02/11/2016
14:50		Yes in your example ukml is receiving libor on 500 and paying on 400. Rising interest rate could impact also the mortgage pool, people may prepay more of their mortgage or could switch to another mortgage providing a cheaper rate, this shortening the average life..and also high interest rate could also mean potentially more mortgage default which would be bad news for the junior position held by ukml if losses are hitting.
yieldsearch
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02/11/2016
14:30		This is how it works. Current mortgage rates are about 3.2% (Nationwide). UKML use leverage at 4 x capital to debt fund these at 3 mth Libor (0.4%) + 1.35% = 1.75%. Total costs are about 1.2% of capital. So:- Mortgage 500 x 3.2% 16.0Debt 400 x 1.75% -7.0Costs 1.2% -1.2---------------------------Capital 100 7.8 However if all rates go up by 1% Mortgage 500 x 4.2% 21.0Debt 400 x 2.75% -11.0Costs 1.2% -1.2---------------------------Capital 100 8.8 So a rise in interest rates would benefit UKML?
stemis
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02/11/2016
14:11		Thanks. I'd forgotten all about this.
stemis
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02/11/2016
10:22		HTtp://www.twentyfouram.com/sites/default/files/upload/images/UKML%20-%20New%20Presentation%20-%2031.10.2016.pdf
davebowler
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20/7/2015
09:53		good luck.I hold some.
jaws6
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20/7/2015
09:45		hxxp://www.twentyfouram.com/funds-and-services/uk-mortgages-ltd The Fund aims to provide Shareholders with stable income returns through low leveraged exposure to portfolios of loans secured against UK residential property The Fund is targeting a net total return of 7-10% per annum Fund Charges & Costs - 0.75% of lower of NAV and market cap PROSPECTUS - hxxp://www.twentyfouram.com/sites/default/files/upload/images/UKML%20Prospectus.pdf
stemis
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