6% T Bonds UK 2028 - historic price needed

NVP

Legendary member
37,586 2,008
hi all

i just wanted to check.....can someone quote me the red Yield price of the above for month january 2002 please ....

I am figuring it was around the £120 which means approx 3-3.4% net yield ?

its around £144 (2.6%) currently

sorry - i'm going to war on a relatives Equity release scheme and need all facts with me before I start creating hell with it ;)

N
 

NVP

Legendary member
37,586 2,008
Thanks.......its only 10 years back but it gives me a rough idea of the differentials

N
 

A Dashing Blade

Experienced member
1,373 170
Bloomberg only goes back 10 years so had to go to DMO web . . .

Name, Isin, COB dates, Bid, ask, accrued interest

6% Treasury Stock 2028 GB0002404191 31-Jan-02 120.73 121.653077 0.923077
6% Treasury Stock 2028 GB0002404191 01-Feb-02 121.2 122.172527 0.972527

Taken from Official DMO website

Gross Yield = 4.59 - 4.56 depending on which of those two days you purchased

=YIELD(37289,47094,0.06,122,100,2,1) is the Excel formula
 
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NVP

Legendary member
37,586 2,008
thanks all.....

we are buying my mother in law out of her Equity release deal she took out in early 2002.......she is £120k deep in do do on an original £50k loan and the additional penalty clauses are linked to redemption gilt yield differntials......

thats a 50% penalty (another £26k) on original Loan based on current Yield price differential (2%)......whilst I am arguing with the Company concerned regarding unfair contracts or a cap on the obscene profits they have made (I have zero chance but I love a scrap !).....I am naturally watching the bond prices hoping the current falls continue ....

thanks again to all who proved data......I also found an excellent site that allows you to type all the information in and it returns the Red yield .....ask me here and I will find it for you if ever needed

N
 

NVP

Legendary member
37,586 2,008
and spare me the caveat emptor stuff........I am well versed in the commercial world and always take a buck when I can ............and prepared to take the losses as well when they happen ...

but some aspects of certain markets (like the equity release business) do attract a lot of publicity and conjecture.......

and frankly I would put the IFA who advised my mother in law to sign this deal up against a wall and shoot them ......(that company is long gone) but I was working abroad and not connected or involved in her affairs at the time........

(sorry rant over.........)

N
 
Last edited:

Hoggums

Senior member
2,176 878
You may want to talk to a solicitor about this - how someone can be in £120K debt for a 50K loan is beyond belief.

Surely this is a case for miss-selling on a grand scale.

A similar thing happened to my grandparents many years back - turns out they'd used equity release for a few thousand and when they died the equity release company claimed the £120K house was theirs.

We fought it in the courts, can't remember on what technicality (but roughly on the grounds it was an unfair contract) and eventually the equity release firm settled for a 25K payment.
 

NVP

Legendary member
37,586 2,008
thats interesting H........most of the research I have done has shown these guys are watertight re the contract ........if anything its trying to sue the IFA/Adviser who gave advice to the customer
but that company is long gone (surprise surprise)

anything you ever found would be appreciated [email protected]

thanks again
N
 
 
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