littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Nov 14, 2016 15:55:34 GMT
FS have been accruing interest for 3 and a half months and still not drawn down. What's going on?
|
|
fp
Posts: 1,008 
Likes: 853
|
Post by fp on Nov 14, 2016 16:21:38 GMT
FS have been accruing interest for 3 and a half months and still not drawn down. What's going on? Thats odd, they usually kick it into touch at around 30 days if not drawn down.... safest loan on the platform right now, don't complain!
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Nov 14, 2016 18:13:05 GMT
FS have been accruing interest for 3 and a half months and still not drawn down. What's going on? Thats odd, they usually kick it into touch at around 30 days if not drawn down.... safest loan on the platform right now, don't complain! Safe perhaps, but not liquid at all. I would like to take my money out if I could.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Nov 14, 2016 18:48:35 GMT
FS have been accruing interest for 3 and a half months and still not drawn down. What's going on? Without any updates at all, it's impossible to know. Perhaps fundingsecure would be so kind as to let us know what's happening?
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Nov 29, 2016 11:28:34 GMT
Last update:
22/11/2016
After several delays, it is anticipated that this loan will finally be activated this week.
Well it wasn't.
|
|
duck
Member of DD Central
Posts: 2,594
Likes: 5,793
Member is Online
|
Post by duck on Dec 3, 2016 7:20:57 GMT
Activated yesterday.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Dec 3, 2016 7:54:39 GMT
And finally I can put my part up for sale.
|
|
duck
Member of DD Central
Posts: 2,594
Likes: 5,793
Member is Online
|
Post by duck on Dec 3, 2016 7:59:32 GMT
And finally I can put my part up for sale. 
|
|
tarq
Member of DD Central
Posts: 125
Likes: 28
|
Post by tarq on Dec 3, 2016 10:14:53 GMT
Good luck with that, I've only every managed to sell 1 £50 loan part on FS.
As soon as my other loan parts come to term, I shall be out.
I find this platform very slow, and the way the SM works is random, with no queue system, have had parts for sale for months, even at a discount!
Nothing ever seems to move from it, just gets more added.
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Dec 3, 2016 12:10:17 GMT
Yes, -1.25%+ for assuming all the default risk.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Dec 4, 2016 10:22:39 GMT
Yes, -1.25%+ for assuming all the default risk. And, for completeness, the tax liability.
|
|
|
|
Post by Deleted on Dec 4, 2016 13:22:17 GMT
Read the thread, thought I'd check out the secondary market to see how desperate the investors are to exit this loan, best discount -0.4%.  Overall for all loans there is only one loan at -1.25%, the rest are -1% and below, for those expressing concern about slow selling on the secondary market, the answer is clear, increase your discount. |
|
|
|
Post by mrclondon on Dec 4, 2016 13:27:45 GMT
Well over the last 12 months or so since the SM launched I have sold £80,000 of parts at par or at discounts of upto (and only very occaisonally including) -1%. I've also bought £18,300 of parts on the SM. I have today sold a loan with less than 40 days remaining with a -0.1% discount.
Loan quality on FS varies enormously, buy good quality loans and there is absolutely no difficulty in selling them with relatively small discounts. Discounts of greater than 1% are only normally needed for poor quality loans that shouldn't have been puchased in the first place, or very large loans where there isn't the demand to soak up the sales (an example of the latter is "2 Bristol Properties")
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Dec 4, 2016 13:29:28 GMT
Yes, -1.25%+ for assuming all the default risk. And, for completeness, the tax liability. Leopardcat was talking about companies/low tax payers. As a tax payer I would want considerably more than 1% to assume ALL default And tax liabilities to let the rich off scott free.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Dec 4, 2016 13:40:24 GMT
Indeed. The FS SM is actually pretty liquid IMO; certainly I've bought many thousands in recent weeks as other loans have repaid (including mrclondon's bits of Hounslow  ), and there clearly are plenty of other SM buyers given the rate at which attractive offers disappear. Of course, you won't sell anything unless / until your part is at the "best available" Effective Rate for the loan in question. Keep checking your discount regularly versus the competition and you certainly shouldn't struggle to sell as a loan closes on 30 days remaining and the Effective Rate accelerates upwards. In current market conditions, very little sticks around for long above 19% / 20% and most loans are trading well at a lot lower than that (15%+). |
|
), and there clearly are plenty of other SM buyers given the rate at which attractive offers disappear. Of course, you won't sell anything unless / until your part is at the "best available" Effective Rate for the loan in question.