markdirac
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Post by markdirac on Mar 15, 2017 22:32:54 GMT
And so this loan swings around for a 2nd pass...
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markdirac
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Post by markdirac on Mar 8, 2017 22:44:13 GMT
this should be a 12% loan- or 13% really. If SS offer 11%, and enough lenders accept 11%, then it should be 11%? Elsewhere in P2P land, e.g. AC, the law of supply and demand is fit & healthy. MT and FS and ReBS have to offer high interest, to attract demand. But SS have engineered demand through a clever web site and model, and through early high interest. Demand now exceeds supply. Why do we expect the law of supply & demand not to apply? Note that almost all the IFISA suppliers are offering very low interest. Not because it is commensurate with risk, but because they expect high demand.
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markdirac
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Post by markdirac on Feb 27, 2017 16:46:56 GMT
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markdirac
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Post by markdirac on Feb 8, 2017 19:15:03 GMT
Why is it that this loan is so much more unpopular than other "end of term" loans? With a relatively healthy (for SS) 12 days to term, there are loans which have overrun into many negative days, yet are nowhere near as unpopular on the secondary market as this loan.
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markdirac
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Post by markdirac on Feb 8, 2017 11:17:45 GMT
4.7% max - worth 5.8% to a 20% tax payer, and 7.8% to a 40% tax payer. Not very useful. Congratulations though to LW.
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markdirac
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Lendy (L) in Administration
PBL 040
Feb 7, 2017 11:22:34 GMT
Post by markdirac on Feb 7, 2017 11:22:34 GMT
Somebody's keen, T***T just bought £15K. Good luck with that buy! c'mon. Why would T***T have just bought £15k? Anyone with £15k to invest is not careless or stupid. I still reckon we're missing something here. Is someone privately underwriting some lenders' loans? Or something?
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markdirac
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Lendy (L) in Administration
PBL 040
Feb 6, 2017 14:09:34 GMT
Post by markdirac on Feb 6, 2017 14:09:34 GMT
This one (PBL040) now has 4% available on the SM. I would have expected much more in the light of the most recent, much talked about, updates from SS.
However, interestingly, even PBL020 (in default, even according to SS) has only 4.6% available on the SM. I can only assume that investors would rather stay on board the sinking ship, in the hope of earning some interest and being repaid some proportion of their investment, rather than attempt to sell it on the SM.
I just don't get it.
I think I have a lot to learn about how investors react to defaults and potential defaults in P2P. I believe there's something going on which we do not know about, or do not understand, or are not party to, with regard to ease of selling of distressed loans. I cannot believe that it is explained only by carelessness or otherwise-busyness or stupidity or risk-not-adverseness on the part of other lenders. I can only think that SS are helping to maintain 2ndary market liquidity somehow. After all, the excellent simplicity and reliability of SS's 2ndary market is one of the attractions of SS. And we can see that SS, for whatever reason, are surprisingly reluctant to announce another default. Does loan liquidity or lack of defaults assist with FCA full approval perhaps? Or HMRC ISA approval? I don't know. Puzzled.
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markdirac
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Post by markdirac on Feb 3, 2017 14:30:49 GMT
I imagine the platforms need to have some cash squirreled away to pay for "orderly run off" over several years, perhaps seven? I cannot see how it would be possible without some funds being set-aside? I doubt that insurance would cover the cost.
But on the other hand, I really cannot believe that these fast-growing, cash-starved businesses will be able to afford any spare cash to squirrel away.
Anyone know what arrangements any of the platforms have currently, err, arranged?
(I too consider platform risk to be higher than borrower risk.)
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markdirac
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Post by markdirac on Jan 31, 2017 14:03:02 GMT
Anyone know the LTV after Tranche 5/7 is disbursed? I can find neither the current value of the security, nor the current total lent.
GDV is £14M Value of the raw development land was £1.5M
I do hope that someone at SS is keeping a tally of what's been leant, even if they do not see fit to share their sums with us.
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markdirac
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Post by markdirac on Jan 30, 2017 17:20:56 GMT
Anyone have trouble logging on? Took me about a dozen attempts and 10 minutes.
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markdirac
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Post by markdirac on Jan 25, 2017 12:10:37 GMT
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markdirac
Member of DD Central
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Likes: 51
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Post by markdirac on Jan 25, 2017 11:54:27 GMT
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markdirac
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Likes: 51
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Post by markdirac on Jan 23, 2017 16:13:13 GMT
Sooooo different to FS, where similar loans hang around unfilled all week.
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markdirac
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Post by markdirac on Jan 14, 2017 18:45:09 GMT
Yep, precisely. Summit's up here, these geezers don't hang about once they've got PP so we really do need to know an informative Update on what's going on/the current state of play. I too have decided not to renew, despite the 50% LTV possibly now being a bit lower because of works possibly having been carried out (!), but we've been told nowt. Shame ramblin rose doesn't live near, she could possibly do her usual "swing by" ........... or the Dude probably has a file two inches thick and copious photos on this, if he'll share them? Depending upon what works have been carried out, and how well they've been carried out, the LTV may be a bit higher.
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markdirac
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Post by markdirac on Jan 13, 2017 12:24:15 GMT
I note that the security's value of £850k seems to include at least some element of planning permission hope: "On the assumption of the Grant of Planning Consent/Consents..."
I cannot get a feel for the extent to which the original (before works) value of £850k will fall, and for how long, once works get underway.
Glad to see that the LTV is less than the typical 70%.
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