|
|
Post by longjohn on Dec 18, 2016 18:02:05 GMT
30008 is a property loan scheduled for two months.
There are 5 previous loans for this development with varying duration's all ending in Feb 2017 so this loan will end at the same time as the others.
All 6 tranches will be re-financed in Feb 2017.
J
|
|
oldgrumpy
Member of DD Central
Posts: 5,087 
Likes: 3,233
|
Post by oldgrumpy on Dec 18, 2016 19:19:25 GMT
30008 is a property loan scheduled for two months. There are 5 previous loans for this development with varying duration's all ending in Feb 2017 so this loan will end at the same time as the others. All 6 tranches will be re-financed in Feb 2017.J You hope! 
|
|
|
|
Post by carpecyprinidae on Dec 18, 2016 19:21:30 GMT
I already sold my holdings in everything falling due before 1st March as I recalled last year when in january there was significant sell-off via SM at a discount, and didnt want to be left holding anything or selling it at par or less.
So yeah, not going to be taking that loan up.. I saw it and chuckled. Its basically unsaleable unless you wanted to flip it in the first 4 weeks.
|
|
|
|
Post by longjohn on Dec 19, 2016 11:59:26 GMT
I've popped £20 into it just to follow its progress. I do not hold parts in any of the previous tranches. So, 9% for a couple of months then how many months of penalty interest should I expect?  J |
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Dec 19, 2016 14:31:14 GMT
You might accrue many months of penalty interest. "So, John, you would like to buy the largest turkey in my shop, and how will you be paying?" " I don't deal in ready money, Mr Poultry Dealer, but I have accrued a considerable sum with Funding Circle, including penalty interest no less, and I will pay you in full when I receive it." "Then I will accrue the turkey for you, John."
|
|
pip
Posts: 542
Likes: 725
|
Post by pip on Dec 20, 2016 18:05:23 GMT
Surely risk reward doesn't stack up. Things go to plan repays in two months, you make approx 1.5%. With all loans the potential downside is 100%, not for me.
|
|
metoo
Member of DD Central
Posts: 540
Likes: 410
|
Post by metoo on Dec 21, 2016 15:15:34 GMT
Surely risk reward doesn't stack up. Things go to plan repays in two months, you make approx 1.5%. With all loans the potential downside is 100%, not for me. The downside shouldn't be anything like 100% with property security. However, LTV starts at 77% and rises at refinance or as penalty interest accumulates. If the property market remains stable, a quick sale might recoup 75% of the full market valuation, around enough to repay the loan without penalty interest... . Refinance gets more difficult the higher the LTV goes. Look at Borehamwood! Those who like this loan are thinking about the interest rate (net of charges) rising to 10% in 2 months but, if the refinance does go through on time (!), then 8% pa for 2 months is all they will earn, ie 1.33% after charges.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Dec 21, 2016 15:35:16 GMT
I will need to decide on keeping Ballards in the New Year. Currently an 11% A refinance at about 84% LTV on a property completed a year ago. Good news is that it is under offer, bad news is that the asking price was already reduced so that LTV on the straight asking price is 89%. My current rules say sell before the scheduled last month - what to do?
|
|
Steerpike
Member of DD Central
Posts: 1,961
Likes: 1,680
|
Post by Steerpike on Dec 21, 2016 15:55:36 GMT
I will need to decide on keeping Ballards in the New Year. Currently an 11% A refinance at about 84% LTV on a property completed a year ago. Good news is that it is under offer, bad news is that the asking price was already reduced so that LTV on the straight asking price is 89%. My current rules say sell before the scheduled last month - what to do? So you are asking us if you should hang on to your Ballards?
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Dec 21, 2016 16:34:06 GMT
I will need to decide on keeping Ballards in the New Year. Currently an 11% A refinance at about 84% LTV on a property completed a year ago. Good news is that it is under offer, bad news is that the asking price was already reduced so that LTV on the straight asking price is 89%. My current rules say sell before the scheduled last month - what to do? So you are asking us if you should hang on to your Ballards? Always interested in the opinions of forum members. Would not wish to end up hanging by my Ballards. (Pepperpot, I've moved from Tewkesbury to Norfolk.)
|
|
|
|
Post by longjohn on Jan 26, 2017 13:11:12 GMT
31637 is the first tranch of new loans to repay the current 6 loans. It's 12 months, 10% and a 'B' to boot! I think I'll pop £20 into it just to keep an eye on things.  FC clearly want this company to hold all the records, shortest loan, first B rated. What next? See also Refinanced from A+ to B, with improved LTVJ |
|
|
|
Post by longjohn on Feb 13, 2017 19:06:20 GMT
This loan was repaid today and one week early. Should I be astonished? J |
|
