ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,888
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Post by ilmoro on Sept 21, 2016 19:44:28 GMT
Come in No63 - next tranche already in the pipeline
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Post by bracknellboy on Sept 21, 2016 20:15:04 GMT
what the hell happened there then ? Just discovered I was too late for the party. I already had too much of a float before cardiff repayment, now I've got even more. Rather liked the look of this one as well. booooooo
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james
Posts: 2,205
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Post by james on Sept 21, 2016 20:15:39 GMT
MoneyThing .. 0.5% obviously ISN'T the right answer now you have more than 200 punters who want some! Guess again (I was on vacation and missed out on most of it). Right, it's been pretty clear it's too high for a little while now. A couple of days of bid restrictions with one bid per day might make it easier to go low for safety without having an unecessary low restriction if it turns out to be less popular than was anticipated. what the hell happened there then ? Just discovered I was too late for the party. I already had too much of a float before cardiff repayment, now I've got even more. Rather liked the look of this one as well. booooooo Even my own popularity prediction was a fair bit too pessimistic... . Really would be good to do something to make it easy to go very cautious with low bid limits to avoid such things though given that I was also too pessimistic I can't fault things too much...
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averageguy
Member of DD Central
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Post by averageguy on Sept 21, 2016 20:23:03 GMT
Cant please all of the people all of the time......looking at the updated pipeline further tranches very soon?
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ben
Posts: 2,020
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Post by ben on Sept 21, 2016 20:23:05 GMT
what the hell happened there then ? Just discovered I was too late for the party. I already had too much of a float before cardiff repayment, now I've got even more. Rather liked the look of this one as well. booooooo More coming soon it went pretty quick tranch b had gone before I logged in 20 mins after 4 guess other tranche did not last long either. I liked the look of it too and will probably have another bite when another lot released.
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james
Posts: 2,205
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Post by james on Sept 21, 2016 23:13:51 GMT
From the pipeline:
"NEW Increased drawdown on Birkenhead residential development. £450,000 split into tranche A of £300,000 (10%, 46% LTV), and subordinated tranche B of £150,000 (13%, combined 69% LTV). Term 12 months. Within the next week."
If only there was some way to give those who didn't manage to get in first time around a first chance at these two... though the bid limit would still need to be cut back to something like 0.25% to give a chance of the smaller part lasting as long as fifteen minutes and lower still for a few hours. With no new bidder restriction I expect it'd take a bid limit in the area of 0.05%.
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Post by jonboy73 on Sept 22, 2016 7:45:40 GMT
it would be great if the new tranche could be restricted to those who don't already have some... but not sure if that is easy to do.. or in MT's interests..
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SteveT
Member of DD Central
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Post by SteveT on Sept 22, 2016 7:45:47 GMT
That would seem fair. In theory, given the new tranches rank pari passu, the 2 existing loans could instead be increased in size (adding further availability) and the original £3k/£1.5k bid restriction window extended to expire 24 hours after the "loan boost". That way, those who have already bid to the limits could not take up any more. Whether the Shuang can do this is one for MoneyThing to ponder (and SM trading would have to be re-paused for that 24 hours I think).
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pom
Member of DD Central
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Post by pom on Sept 22, 2016 7:46:49 GMT
From the pipeline: "NEW Increased drawdown on Birkenhead residential development. £450,000 split into tranche A of £300,000 (10%, 46% LTV), and subordinated tranche B of £150,000 (13%, combined 69% LTV). Term 12 months. Within the next week." If only there was some way to give those who didn't manage to get in first time around a first chance at these two... though the bid limit would still need to be cut back to something like 0.25% to give a chance of the smaller part lasting as long as fifteen minutes and lower still for a few hours. With no new bidder restriction I expect it'd take a bid limit in the area of 0.05%. Not everyone will have gone for the full amount in the first batch and a fair number of those that did won't actually want any more, so the second tranche may not go as quickly as you might think. I don't want any more anyway.
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archie
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Post by archie on Sept 22, 2016 7:54:01 GMT
It would be interesting to know how many investors bid the maximum in each tranche.
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arbster
Member of DD Central
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Post by arbster on Sept 22, 2016 7:58:21 GMT
Personally I have a bit more Tranche B than I want, and not quite enough Tranche A (as I invested some in diversification opportunities that arose at the same time), so will be re-balancing my investments a little when the next batch comes through.
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Post by brianac on Sept 22, 2016 10:01:56 GMT
I'm the opposite, got plenty of A but failed to get any appreciable amount of B due to a slight error (mine that is) getting the funds in place in time. Should have got the B first as that went quickest, would have had more time to grab some A. Oh well., expect it'll come right in due course. Brian
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spiral
Member of DD Central
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Post by spiral on Sept 22, 2016 10:05:17 GMT
The full order of repayments, after recovery costs (LPA receiver fees etc.) have been paid, is: 1) tranche A capital 2) tranche B capital 3) Broadoak first loss investment capital 4) tranche A accrued interest 5) tranche B accrued interest 6) Broadoak first loss investment accrued interest What interest rate will investors receive if the loan defaults? Investors in tranche A and tranche B will receive the same interest rate if the loan goes into default: 1.5% per month. Personally I think there is a flaw in this setup in the event of a default. As the interest accrues at 1.5% per month, potentially default interest on tranche A could swallow all the interest from tranche B so tranche A gets a bonus windfall from a default at the expense of tranche B. I know that the argument is that tranche B is more risky but I think 4 and 5 above should apply to the nominal interest rate and a step 7 and 8 equivalent to step 4 and 5 should exist for the default interest premium. This way you don't end up with the distribution of funds stopping at step 4 because tranche A has skimmed a further 8% of interest from the pot.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
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Post by Investboy on Sept 22, 2016 12:13:54 GMT
I'm personally not bidding in the next loan as I got more than I need with the first 2 tranches.
I invested much more in this than my usual loan limit just because I had the money that I don't want to sit idle. So expect few hundred of A & B appear soon (once new loans are in the pipeline). I think many others did the same so with luck more people will be able to buy them.
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am
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Post by am on Sept 22, 2016 13:29:09 GMT
I'm the opposite, got plenty of A but failed to get any appreciable amount of B due to a slight error (mine that is) getting the funds in place in time. Should have got the B first as that went quickest, would have had more time to grab some A. Oh well., expect it'll come right in due course. Brian I nearly missed tranche B. I started off with the intent of buying some A and then some B, but realised that B might sell out while I was going through the mechanics of buying A, so I backed out and bought tranche B first.
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