andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 17, 2016 17:14:13 GMT
No cashback, but Hendon 10 has just reappeared as 21359 with a more attractive 10% rate for a loan of £352,760.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 17, 2016 12:43:28 GMT
Hendon 10 is looking a bit fragile, despite being smallish. I wonder if it'll come back at a higher rate, or maybe some of that missing CB? Hendon 10 has just disappeared from the live listings. It had less than 24hrs to go and hadn't reached 70% filled when I looked earlier this morning. Cashback anyone?
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
|
Post by andyp on Mar 11, 2016 15:02:34 GMT
Ditto with Chrome, slow page views, sometimes hanging for 10-15 seconds and larger text size than normal
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 10, 2016 22:43:17 GMT
You may well be right, but that doesn't improve my return.
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andyp
Stubborn Yorkshireman from the rhubarb triangle
Posts: 150
Likes: 115
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Post by andyp on Mar 10, 2016 22:22:26 GMT
The way Fumbling Coterminosity handle the end of a multi-tranched loan, and indeed any loan that is late, is a mess. The tranches dont match the underlying loan and they have extreme difficulty in paying anything other than 'a month's extra interest'. God only knows how they are going to use the proceeds of Richmond 8 to pay the extension of the overall loan. Security still looks good though. FC "have granted the borrower a 3 month loan extension to secure sale and completion of the two units at this development. We are expecting the first tranche to be repaid at the end of this month and interest will continue to be paid each month to investors until repayment is received." The have removed the risk band from Richmond 1-3 & 5-7, they forgot to derate 4 for some reason. The happy borrower gets an extra 3 months at 7.5% without penalties and all the lenders are locked in. Given the original 8month loan had 2% cash back the effective rate on the loan was 10.5%, whereas after the default they are paying 7.5%, a discount of 28.6%. Breach the contract and get a discount, certainly a novel marketing ploy by FC, but not one to encourage lenders I suspect!
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