oldgrumpy
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Post by oldgrumpy on Mar 30, 2017 17:25:30 GMT
I'm stuck with just 13%  (still at the foot of our stairs  ) |
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Post by d_saver on Mar 30, 2017 18:21:33 GMT
i think you have to hold to term for the bonus Yep - Bonus gets taken away if you sell before the loan is repaid.
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stub8535
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Post by stub8535 on Mar 30, 2017 19:44:56 GMT
Bonus only taken away on the part sold. Still a good game if you only want 50k to buy 100 and get the higher interest rate, assuming you an sell at par or better.
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mikes1531
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Post by mikes1531 on Mar 30, 2017 20:07:31 GMT
Bonus only taken away on the part sold. Still a good game if you only want 50k to buy 100 and get the higher interest rate, assuming you an sell at par or better. True, but I'd be very surprised if anyone could sell much at par or better. This loan is so big that people can take as much as they want at the beginning, so they're somewhat unlikely to be wanting more any time soon. And if there are many people trying to sell, or a single investor trying to shift £50k of parts, I'd expect it to take a discount to entice the buyers needed. That, of course, is JMHO, and I've heard lots of stories about parts being sold at a premium, so some sellers are a lot more successful than I've ever been. 
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stub8535
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Post by stub8535 on Mar 30, 2017 22:04:39 GMT
Smaller, blingier items have been my only premium sales. My 1st, and last, foray into invest high and sell needed time to build enough interest before selling to get a decent return. 5 weeks to go and it will rollover and I can drive my money elsewhere.
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stub8535
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Post by stub8535 on Mar 30, 2017 22:06:57 GMT
As for the bh dropping big numbers. There are one or two that drop 100k on everything that can take it. No evidence of dd as it is normally done as soon as loans go live. Good luck to them. They can afford to play roullette.
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lobster
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Post by lobster on Mar 31, 2017 6:49:16 GMT
i think you have to hold to term for the bonus Yep - Bonus gets taken away if you sell before the loan is repaid. Yup , fair point. Thanks.
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bg
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Post by bg on Mar 31, 2017 11:15:31 GMT
I was going to avoid this loan on the basis of its size and my preference not to hold for term (although if I was to hold something to term this loan looks as good as any). Given some of the big clips going through (which I very much imagine are buy and hold) I don't think the SM will be flooded to any great extent so I have bought in.
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Liz
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Post by Liz on Mar 31, 2017 14:45:59 GMT
Let's see if the BH's want some of that 2nd charge in Cardiff, I doubt it. I'm saving my cash for something juicy at the weekend. Edit: tried to get some of the Londonian flat, tried for £4k and it said not enough availability, showing £13,600 gone!!!! So instead of giving me £3,400 it gave me nothing, then it was all gone before I could bid again  |
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elliotn
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Post by elliotn on Mar 31, 2017 15:29:20 GMT
A slew of BHs in this one. Before bringing such a big loan I think FS would have made a few calls to their BH's to ensure their support which IMHO is why its filling so well. Certainly makes you think how a BH would have 300k sitting on their account after a short go live notice, not sure how that sits with fair usage but as Mike said it greases the way for us LittlesHitters to earn a small piece of 13%  .
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oldgrumpy
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Post by oldgrumpy on Mar 31, 2017 15:42:32 GMT
Before bringing such a big loan I think FS would have made a few calls to their BH's to ensure their support which IMHO is why its filling so well. Certainly makes you think how a BH would have 300k sitting on their account after a short go live notice, not sure how that sits with fair usage but as Mike said it greases the way for us LittlesHitters to earn a small piece of 13% . 
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rogerthat
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Post by rogerthat on Oct 9, 2017 13:09:44 GMT
Update posted on the FS website earlier this morning for this loan which was originally due to repay over the weekend:May also be of interest to holders of the other two loans to the same borrower against the same security. | Reference | Title | Amount | Rate | Active | Defaulted | Status | Last Updated | | 1781021782 | Cinema, L*******d | £1,650,000.00 | 13.00% | 07/04/2017 |
| Loan Active | 1 hour ago | | 4955106126 | Cinema, L*******d - Additional Borrowing 2 | £100,000.00 | 15.00% | 11/08/2017 |
| Loan Active | - | | 8824507669 | Cinema L*******d - Additional Borrowing | £250,000.00 | 14.00% | 14/07/2017 |
| Loan Active |
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Hi..as its Monday and the mind isn't yet up to speed and that I'm relatively new to FS, can you explain the significance of your post...it relates to the 1st loan ending 1782 (which is why I have no update) but I do have some exposure in the 3rd loan ending 7669. As the 3rd loan doesn't expire until 13/01/2018, is the likelihood then that 7669 may be settled earlier than the original end date ? thanks
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adrian77
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Post by adrian77 on Oct 9, 2017 18:20:09 GMT
I would not touch this one with a barge-pole. Granted this developer may have a buyer lined-up and is ready to cash in. But if this is the case then why does he need to borrow money at 20% or above. The financials look extremely dubious to me e.g. as part of the valuation finance was taken at 7% (this is what I can borrow development funds at) but no chance of that here!
Doubtless a coincidence but the company structure looks very complicated to me with related companies having charges against them - we have been down this road before....
Also these "studos" are tiny at 353 ft2- (my office is bigger!) and I wonder if it will fetch £130K...
As a developer myself I just would not sleep if I sold such studios to the public - money isn't everything although the chap who invested £300K has clearly got more money and bottle than I have!
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Steerpike
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Post by Steerpike on Oct 9, 2017 18:58:09 GMT
The development should result in an attractive building in a popular location particularly given the nearby F*****gate project.
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rogerthat
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Post by rogerthat on Oct 9, 2017 23:06:28 GMT
I would not touch this one with a barge-pole. Granted this developer may have a buyer lined-up and is ready to cash in. But if this is the case then why does he need to borrow money at 20% or above. The financials look extremely dubious to me e.g. as part of the valuation finance was taken at 7% (this is what I can borrow development funds at) but no chance of that here! Doubtless a coincidence but the company structure looks very complicated to me with related companies having charges against them - we have been down this road before.... Also these "studos" are tiny at 353 ft2- (my office is bigger!) and I wonder if it will fetch £130K... As a developer myself I just would not sleep if I sold such studios to the public - money isn't everything although the chap who invested £300K has clearly got more money and bottle than I have! Cheer me up why don't you...erm 
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