SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Apr 16, 2015 17:13:56 GMT
I still haven't got my head around why some borrowers opt for ReBS over larger platforms like FC or AC. There's another new loan listed today looking for £750k at "no more than 12%", having previously decided that Thincats "could not meet our timescale requirements". Yet the auction on ReBS is listed to run for 43 days !! If time is of the essence, how does waiting 43 days for a loan to fill and drift down to 12%-ish on ReBS look attractive versus the FC / AC route? Think I'll find a better use for my money for the next 40 days and then review ...!
|
|
bob2014
Member of DD Central
Posts: 54
Likes: 3
|
Post by bob2014 on Apr 16, 2015 17:59:36 GMT
1) I'm guessing that "Construction" is in a hurry and rather than simply close early rebs has at least given us a warning.
2) The "healthcare" loan I suspect will struggle to fill and not reach 12%. I will not be tying up my cash until it nears or reaches 100%, I see no advantage, and several disadvantages, in biding for 43 days.
|
|
baldpate
Member of DD Central
Posts: 548
Likes: 406
|
Post by baldpate on Apr 16, 2015 20:34:39 GMT
I'm with bob2014 on this. Unless ReBS have recently enrolled some new high-octane underwriting capacity that we've not yet seen action, I don't see how the "healthcare" loan has a chance of filling, much less at the 'indicative' rate of 12%. I'm aware of only one high-rolling ReBS lender, one who is willing to stake >£10K on the right proposition; there are maybe a half-dozen or so other lenders who regularly participate at around the £1K - £2K level. So I just don't see there is lending capacity capable of filling this loan - which is both worrying and puzzling, because I don't understand where ReBS think they are going with this one.
|
|
|
Post by jh on Apr 17, 2015 8:51:12 GMT
After resolving the issue with auctions ending at one and the same time I thought I wouldn't need to post on the same tread. But today I've noticed something strange and unacceptable. Yesterday, or the day before yesterday the deadline for the A**e C*********s Ltd auction was 9 days away. Today it shows as one day. Knowing that the next auction is ending in 9 days I might have not logged on for 7-8 days. Clearly if I haven't logged today I would have missed this one. Changing the deadlines without informing the lenders is totally unacceptable and shows lack of respect. It would be very naive if RBS thinks that it can get away with similar things without the issues being highlighted on the forum. Hate me or be grateful for the feedback. Good Morning, thought I would reply as I am the introducer on this particular case. Client wanted to drawdown early, as is their perogative to do so, and I gave the usual notice to ReBS, they would normally post a comment, but on this occasion I believe they have missed this. I will feed the above back to them this morning. Incidentally, their policy on this, as far as I am aware, is that all auctions currently end at 9pm (although I understand this is being changed) and a minimum of 24 hours notice must be given for early closure. This differs fromt he likes of FC whome require no notice and borrowers can chose to end a listing immediatly it funds with no notice. J
|
|
bob2014
Member of DD Central
Posts: 54
Likes: 3
|
Post by bob2014 on Apr 17, 2015 9:31:02 GMT
I note that "healthcare" has come down to 24 days which is better.
|
|