bababill
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Post by bababill on Feb 21, 2016 5:44:03 GMT
Can't make everybody happy all the time. I like the button where it is. :-)
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bababill
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Assetz Capital (AC)
Out for now
Feb 17, 2016 2:32:40 GMT
Post by bababill on Feb 17, 2016 2:32:40 GMT
Well I have read all the messages and i get the principle... but like others need bit more clarification.
Cash account equals no risk immediate access. QAA equals low risk 3.75% interest rate and immediate access under normal market conditions. Also immediate deployment if cap not reached. GBBA is like a notice account at 7% and maybe not immediate deployment. (but can have funds swept into QAA if they are idle)
But is GBBA higher risk then QAA?
And most importantly what is the average notice required to cash out GBBA funds? (again lets assume normal market conditions).
Finally any idea on length of time for GBBA deployment?
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bababill
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Post by bababill on Feb 11, 2016 7:02:43 GMT
Good prediction.. another one has gone pop on FK
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bababill
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Post by bababill on Feb 3, 2016 23:12:20 GMT
entered in wrong company forum. message deleted.
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bababill
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Post by bababill on Jan 26, 2016 4:41:48 GMT
Think CB refers to Cash Back.
Note LI is now £100 minimum.
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bababill
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Post by bababill on Dec 31, 2015 8:32:11 GMT
Ya but what's more interesting is it will get filled by the underwriter (glif)
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bababill
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Post by bababill on Dec 17, 2015 0:34:03 GMT
No need to contact buyer the process should happen automatically. For detailed info best to contact Kay Everett <kay@fundingknight.com>
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bababill
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Post by bababill on Dec 16, 2015 3:36:58 GMT
Wow, I did not know this either. And to think not too long ago minimum investment was £10,000
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bababill
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Post by bababill on Nov 15, 2015 21:40:33 GMT
I have been with FK around 6 months...
In total have found 11 loans worth investing in.
The provided accounts are too condensed for me and so I have had to use a third party (like Experian) to gather more due diligence.
Deal flow is slow and hence most of the loans I have bought on the marketplace at a premium to the actual interest rate.. Hence, it is hard to figure out the actual rate earned.. I would suspect it be around 9.3 percent before defaults. (Headline rate is 10.7 pre discounted return / 8.7 predicted after defaults).
I like the site because all (or nearly all) are proper trading businesses (not just property) earning healthy profits with an increasing net worth year on year.
I would increase my exposure on FK if there were more loans I liked.
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bababill
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Post by bababill on Nov 1, 2015 4:39:13 GMT
All the above discussion is interesting, but I do not think that it supports the initial statement that SS fabricated security values.
Health warning notice.. I might accidentally hurt peoples feelings and be discourteous.. That is not the intention.
Perhaps I should have written that in my opinion SS has totally misled me in regards to the loan to value ratio. This was the first loan that I researched on SS and hence my opinion is not based on the vast offerings of SS.
Anyhow, a developer is in need of a loan of a 4,000,000 USD loan. Dollars are required as the developer has an overdraft in dollars which he wishess to pay down.There will be a first charge on an unencumbered 2 bedroom property within the M25 area and 500 meters of a train station. For further clarity and full transparency there is no mortgage on the property. The developer is willing to offer a rate of 22%. The property is valued at £5,000,000Note to self.-- don't forget to put in the fine print that the 5 million pound valuation is based on Egyptian pounds. Twenty two percent is calculated over a ten year period.
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bababill
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Post by bababill on Oct 30, 2015 9:51:36 GMT
Buying on the secondary market of TC generally only ever increases my allocation to that specific loan by say 10% as the amounts on the SM are small.
In my opinion this is the important part.....If I sell a loan then all the funds go back to the cash account. Therefore at this time the actual diversification of my P2P actually decreases because now I have less loans that are funded.
I readily admit that I cannot be bothered to take half an existing loan and then try and sell it so I can then buy another loan in order to increase my diversification. If I keep cutting my loans in half I will have barely anything left of my existing investments.
I should probably add the following:
There is no point for me to buy 'new' loans on TC secondary market because if I did not originally invest then then that means I had already disregarded them as potential loans at the time of inception.
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bababill
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Post by bababill on Oct 30, 2015 9:24:57 GMT
No of course, I would rather not pay anything to have the opportunity to sell. But keep in mind I only ever sold one loan on TC and that was just to ‘try’ out the process and experience the workings through. I am happy with all my loans on TC and therefore have no reason to sell. If loans come up on the secondary market that I already hold I even try to snap them up before they are sold.
This is one aspect where SS is better because you can do a shadow bid 24 hours before you actually make the deposit. With TC it takes a couple of hours for the system to credit your account.
Proplend also charges the seller 0.5% on the original loan amount upon a successful sale. When I calculated this out once it came to be around one months interest on a loan. However, I have a feeling the secondary market on Proplend is quite illiquid. Though again I have never sold on the secondary market so I can not testify to this.
Oh no… am I potentially being libelous again by suggesting things about Proplend that I don’t know to be a fact?
Proplend-- if you are reading this let me know if I have offended you.
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bababill
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Post by bababill on Oct 30, 2015 6:14:03 GMT
I am a new to SS so I can't share much...But I have struggled to fill £500 in the last 7 days or so... But I only check the website say once a day or so.... But the good news is tomorrow morning I will be selling all those that I did purchase so they will be available.
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bababill
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Post by bababill on Oct 30, 2015 1:35:09 GMT
Am I alone in wondering if the thread title verges on inflammatory or even libelous?And "is site legit?" seems to me to indicate an OP who has rushed to post without reading any previous threads about a site that plenty of investors are apparently comfortable with? DYOR bababill. Do Your Own Research. You have strayed into an area where ideally you need to be just a little bit "sophisticated" financially. Your surprise at typical bridging loan rates says a lot. "My gripe is SS forces me to read all the small print". Oh dearie dearie me! Thread title has been kindly amended by the administrator. I also removed a sentence in my original post; it seems I was inadvertantliy inflaming passions and perhaps even hurting peoples feelings. Having attempted to do my own research by reading all the posts and asking what I thought was a valid question I have decided to sell my tiny holdings in SS. The average rate of bridging loans in 2014 was 14% according to the West One Bridging Index. If the bridging loan warrants an 18% interest rate and I earn 33% less then the risk reward is too great for me. Back to TC for me and also Proplend where one can earn up to 11% gross on a trance C secured commercial loan. (note, after Proplends fees the rate falls to 9.9%).
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bababill
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Post by bababill on Oct 29, 2015 0:04:43 GMT
Am I right in thinking that this is the exit position that the loan is heading towards. Anyone who took on this loan has to take this view and valuation. Presumably there were other financiers and they couldn't or didn't take this view and so passed over. In taking on the loan they have to take this view or why take on the loan? The same goes for the Lenders if you can't agree don't take on the loan. Well it seems 18% for a bridging loan is par for the course.. My gripe is SS forces me to read all the small print and cross check all the 'facts' as they are presented..After reading all of the documents it is only then I can decide not to take on the loan. I can not rely on the summary pages... SS is very popular and growing fast so I believe I am in the minority.
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