blender
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Post by blender on Feb 15, 2018 23:40:08 GMT
The Lendy thread looks very well-mannered to me. Restrained, considering. This loan is now at 87% which is most impressive. Is it just co-incidence that £55k awaits new money on the SPL loan, or do people think that they can park the spare cash here at 8% until something more lucrative comes along? There are other platforms where you can do that at 7% with almost instant access.
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Post by alamosurvivor on Feb 15, 2018 23:49:54 GMT
No it’s not just you. I am also in the others. I think I’ll leave this to the newbies. Abl has huge exposure to C..F... Powder remaining dry till new customer comes along.
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oldgrumpy
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Post by oldgrumpy on Feb 15, 2018 23:51:50 GMT
The Lendy thread looks very well-mannered to me. Restrained, considering. This loan is now at 87% which is most impressive. Is it just co-incidence that £55k awaits new money on the SPL loan, or do people think that they can park the spare cash here at 8% until something more lucrative comes along? There are other platforms where you can do that at 7% with almost instant access. I'm getting 13% 
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Post by elephantrosie on Feb 16, 2018 0:02:44 GMT
The Lendy thread looks very well-mannered to me. Restrained, considering. This loan is now at 87% which is most impressive. Is it just co-incidence that £55k awaits new money on the SPL loan, or do people think that they can park the spare cash here at 8% until something more lucrative comes along? There are other platforms where you can do that at 7% with almost instant access. Which platform does 7% with instanr access
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blender
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Post by blender on Feb 16, 2018 0:25:01 GMT
I imagine that grumps is meaning that you can put your spare cash on loans here other than the SPL, and extract it quickly for new loans - which is true for small numbers. However, as soon as a good new loan is announced, the SM moves from being a seller's market to a buyer's market, because the overall loan book is modest in size. I am not wishing to promote other platforms here, but from the liquidity viewpoint FC is awesome (at present). The September changes, removing selling fees, selling at par, and taking control of the 'transfers', has made a difference. You can sell a large portfolio in a morning and bank it next day (to transfer to Ablrate). But you can't beat the 7% statistics. It is P2PINO, P2P in name only, but it makes a really good deposit account for the cash I don't want to put at much risk. I have much more on Ablrate than FC.
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elliotn
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Post by elliotn on Feb 16, 2018 6:35:31 GMT
The Lendy thread looks very well-mannered to me. Restrained, considering. This loan is now at 87% which is most impressive. Is it just co-incidence that £55k awaits new money on the SPL loan, or do people think that they can park the spare cash here at 8% until something more lucrative comes along? There are other platforms where you can do that at 7% with almost instant access. 55k Q out on SPL ealier, potential liquidity trap for 8% (vs loss making co). Thankfully some 13% was left over late GMT and was able to execute on SM for the scraps! Edit - Cxtxxxs strike me as potential SPL candidate ie fairly regular, working capital type requests with similar types of security / group guarantee. AF is credible but assuming, say, 9% lenders / 4% abl fee I wouldn't be their target audience at that kind of leverage - some cash drag does mean I'm in for 2% p2p at 13% though  .
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shuff27
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Post by shuff27 on Feb 16, 2018 7:21:47 GMT
Not for me either due to potential overexposure. Confusingly, under the 'other loans' tab of the loan details it says 'there are no loans to display'.
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SteveT
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Post by SteveT on Feb 16, 2018 7:50:59 GMT
Not for me either due to potential overexposure. Confusingly, under the 'other loans' tab of the loan details it says 'there are no loans to display'. If you read the Borrowing Proposal you will find that the borrowing company on this loan has no other ABL loans. However, it goes on to explain that there are connected ABL loans via the ultimate shareholder(s). [It's amusing to consider how this loan (to a profitable manufacturing company, with asset security, paying 13% amortising with a minimum 24 months term) would be greeted over on AC, or on FC before they pulled the plug on manual bidding. You'd be mown down in the stampede!]
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poppyland
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Post by poppyland on Feb 16, 2018 8:50:16 GMT
Not for me either due to potential overexposure. Confusingly, under the 'other loans' tab of the loan details it says 'there are no loans to display'. If you read the Borrowing Proposal you will find that the borrowing company on this loan has no other ABL loans. However, it goes on to explain that there are connected ABL loans via the ultimate shareholder(s). [It's amusing to consider how this loan (to a profitable manufacturing company, with asset security, paying 13% amortising with a minimum 24 months term) would be greeted over on AC, or on FC before they pulled the plug on manual bidding. You'd be mown down in the stampede!] There was a stampede in fact: most of the £500,000 was gone within the first five minutes, and the rest by about 20 minutes. Then Ablrate released the other £250,000 and that went pretty fast too, and is almost filled this morning. Speaking for myself, an amortising loan secured on business assets and multiple other guarantees looks like a much better prospect than yet another property loan, of the kind available on other platforms right now. Clearly lots of other people think so too.
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elliotn
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Post by elliotn on Feb 16, 2018 9:04:11 GMT
Is it worth a valentine massacre and merging with the more appropriately titled thread?
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star dust
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Post by star dust on Feb 16, 2018 9:33:40 GMT
Bit past valentine's day, and I think it will be a bit of a massacre as you'll seriously lose the flow, not sure about the thread title either but I can fix after if necessary. Just don't shoot the operator . |
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blender
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Post by blender on Feb 16, 2018 9:58:45 GMT
Yes, 96 is at 99% this am, which is really good going, except for my instant returns.
One problem of the new UI is that at the end of the loan you do not know how much is left to buy. Will it say 100% when it gets past 99.5%? How will people know what is left and needs to be bought, except by trial and error, or going to the old UI while it is there?
The new loan points up a problem with the new UI (consider this posted there also, please).
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blender
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Post by blender on Feb 16, 2018 10:01:40 GMT
55k Q out on SPL ealier, potential liquidity trap for 8% (vs loss making co). Thankfully some 13% was left over late GMT and was able to execute on SM for the scraps! Edit - Cxtxxxs strike me as potential SPL candidate ie fairly regular, working capital type requests with similar types of security / group guarantee. AF is credible but assuming, say, 9% lenders / 4% abl fee I wouldn't be their target audience at that kind of leverage - some cash drag does mean I'm in for 2% p2p at 13% though . Don't give them ideas Elliotm. This current offer pays us 13% and Ablrate 11% pa as fees. So I look forward to an SPL where Ablrate takes 4% and we get 20%. (expensive money)
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elliotn
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Post by elliotn on Feb 16, 2018 14:59:07 GMT
55k Q out on SPL ealier, potential liquidity trap for 8% (vs loss making co). Thankfully some 13% was left over late GMT and was able to execute on SM for the scraps! Edit - Cxtxxxs strike me as potential SPL candidate ie fairly regular, working capital type requests with similar types of security / group guarantee. AF is credible but assuming, say, 9% lenders / 4% abl fee I wouldn't be their target audience at that kind of leverage - some cash drag does mean I'm in for 2% p2p at 13% though . Don't give them ideas Elliotm. This current offer pays us 13% and Ablrate 11% pa as fees. So I look forward to an SPL where Ablrate takes 4% and we get 20%. (expensive money) Wow, best risk indicator right there! (I do sometimes skim the loan agreement but always looks like a blank template and have been too embarassed to ask as Steve dishes the dirt - might pm rose to see if she'll ask).
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blender
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Post by blender on Feb 16, 2018 16:18:16 GMT
Together with the lack of a minimum interest period, it rather suggests that you are right to think that this borrower will wish to refinance asap. I read the high rate as a short term loan. It may well be an SPL in a few months, but let us not roll over too easily on rates. Starting at 24%pa plus 2% up front, the current risk does justify a single % figure for us, any time soon.
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