phil
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Post by phil on Mar 27, 2018 17:15:10 GMT
Has anyone invested? It's certainly hanging about, no doubt because of lack lustre interest rates but also perhaps people have picked up on the fact that exit is via high street refinance yet BC valuation was done 3 months ago, plenty of time to arrange a high street loan
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Steerpike
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Post by Steerpike on Mar 27, 2018 17:24:41 GMT
It is grade II listed which can be a deterrent and also partly subject to flood risk.
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michaelc
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Post by michaelc on Apr 4, 2018 19:04:03 GMT
I assumed the issue was partly that £3M houses don't usually fly off the shelf and also the general p2p ill feeling caused by COL. What I don't understand is why has the 61% LTV loan had any takers while the 48% is available?
Anyway, despite that, the rest of the platform looks reasonably healthy with nothing on the secondary market as usual.
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SteveT
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Post by SteveT on Apr 5, 2018 5:54:57 GMT
I assumed the issue was partly that £3M houses don't usually fly off the shelf and also the general p2p ill feeling caused by COL. What I don't understand is why has the 61% LTV loan had any takers while the 48% is available?Anyway, despite that, the rest of the platform looks reasonably healthy with nothing on the secondary market as usual. Presumably because those lenders preferred the idea of 9.6%pa over 7.8%pa and were comfortable with the greater risk. BC's (deservedly good) reputation for handling defaults perhaps clouds a few people's judgement as to the risks they are taking on with 2nd / 3rd charges. See various pending disasters over at Funding Secure ...
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bababill
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Post by bababill on Apr 5, 2018 23:18:42 GMT
However it appears in this case both loan offerings are indicated as second charges and perhaps that obfuscates the issue with separate tranches. See below image.
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Greenwood2
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Post by Greenwood2 on Apr 6, 2018 9:34:53 GMT
It does say Tranche A will be repaid before Tranche B, so in the event of a shortfall Tranche B would suffer.
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