rogerthat
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Post by rogerthat on Feb 28, 2018 19:42:55 GMT
I had 3 nibbles due to problems with FS's system - just sold 2 in seconds on the SM at 1% discount - maybe should have been 0.5%! There are still loans for sale on the SM but the rate is less than the offer rate for this tranche. I think the only way this one will not end in tears is that the site to sold to another developer or refinanced at a much lower rate - it has happened before but just the one nibble is enough of a risk for me. I know some other such loans have returned up to a very tasty 17% but I am not a high risk possible junk-bond trader! Seems someone has had 2nd thoughts..bought £1k and is trying to sell it at par...make it -1.00 % and I might consider it
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mikes1531
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Post by mikes1531 on Mar 1, 2018 4:37:46 GMT
Seems someone has had 2nd thoughts..bought £1k and is trying to sell it at par...make it -1.00 % and I might consider it Or they're rather miffed that just as soon as the first tranche was funded fully, FS brought out another, equally-ranked, tranche... at a higher interest rate! I think that -- and the slow uptake on T1 -- means FS have recognised that they got very lucky with T1 and that there was no way they could raise funds for another tranche at the 12% rate of T1. But in the process fundingsecure will have upset the many investors who have provided them with T1's more than £0.5M. IMHO the honourable thing for FS to do to stop the negative feelings they have generated would be to raise the rate on T1 to match the 13% rate on T2. This episode certainly has left a bad taste in my mouth!
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rs
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Post by rs on Mar 1, 2018 6:10:52 GMT
I wonder what FS are making on T1 compared to T2? I thought normally the higher the lender interest rate the higher the FS fees? Not at all happy I invested in T1. Won’t be investing in T2 out of principle.
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rogerthat
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Post by rogerthat on Mar 1, 2018 14:19:49 GMT
Tranche 2 filled...and the next one please
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adrian77
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Post by adrian77 on Mar 1, 2018 16:50:41 GMT
I am really not happy about this - will tranche 3 be a different rate again?
Not sure where we stand legally with the same asset being offered at 2 different rates - may be legal but I don't think it is professional as I am sure all the people trying to sell T1 loans will agree....
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rs
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Post by rs on Mar 1, 2018 17:26:12 GMT
Tranche 1 interest rate changes to 13%. Well done FS.
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rogerthat
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Post by rogerthat on Mar 1, 2018 17:38:23 GMT
Tranche 1 interest rate changes to 13%. Well done FS. Agreed..credit where due..can I increase my investment in Tranche 1 though ?
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aj
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Post by aj on Mar 2, 2018 7:41:40 GMT
Tranche 1 interest rate changes to 13%. Well done FS. Agreed..credit where due..can I increase my investment in Tranche 1 though ? Secondary market? (At a discount may I add!)
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mikes1531
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Post by mikes1531 on Mar 3, 2018 20:44:32 GMT
Agreed..credit where due..can I increase my investment in Tranche 1 though ? Secondary market? (At a discount may I add!) Most of the parts of T1 that had been offered on the SM at a discount have either been sold or withdrawn from sale (that's what happened to mine) but there still is one investor trying to sell £1500+ of it at -0.1%.
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rogerthat
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Post by rogerthat on Mar 11, 2018 21:45:33 GMT
3rd tranche for £171K @ 13%..LTV 44%
Monday 12th March 11am
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adrian77
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Post by adrian77 on Mar 12, 2018 16:36:26 GMT
I note this latest tranche is filling very slowly - what a surprise... However why do people buy small £25+ chunks in this loan when there are loans for sale for earlier tranches with a negative premium? And yes my nibble is one of them! If I had a few million laying around I may be tempted for a 17% gamble but I haven't ....
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Post by brummiefred on Mar 20, 2018 12:58:41 GMT
Update recently posted by FS on loan updates relating to a meeting between Planning Consultant and Council.
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rs
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Post by rs on Mar 20, 2018 20:16:42 GMT
Update recently posted by FS on loan updates relating to a meeting between Planning Consultant and Council. My opinion is the update is to encourage lenders to fill the loan. The update does actually give any indication of the plan and there is no commitments from anyone.
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Post by mrclondon on Nov 12, 2019 17:02:39 GMT
Loans now defaulted on the website. The final ids are Id | Title | Amount | Maturity | 2470115082
| Pagef**ld M*ll W*gan - Renewal
| 520,000
| 28/03/2019
| 4322961020 | Pagef**ld M*ll W*gan - 2nd Tranche - Renewal | 100,000 | 07/05/2019 | 3242672118 | Pagef**ld M*ll W*gan - 3rd Tranche | 171,000 | 11/09/2018 | 1058489345 | Pagef**ld M*ll W*gan - 4th Tranche | 175,000 | 30/10/2018 | 2911018263 | Pagef**ld M*ll W*gan - 5th Tranche | 180,000 | 28/11/2018 | 5616845112 | Pagef**ld M*ll W*gan - 6th Tranche | 50,000 | 18/01/2019 | 2416279068 | Pagef**ld M*ll W*gan - 7th Tranche | 50,000 | 07/03/2019 | 1580936569 | Pagef**ld M*ll W*gan - 8th Tranche | 35,000 | 23/04/2019 | 1350683639 | Pagef**ld M*ll W*gan - 9th Tranche | 50,000 | 07/05/2019 |
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iRobot
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Post by iRobot on Dec 17, 2020 15:08:26 GMT
Updated to say 3rd party litigation ongoing; hearing due to take place Q1 2021.
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