TitoPuente
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Post by TitoPuente on Sept 1, 2015 11:51:33 GMT
Who's going to want to lend on an A unsecured at c9% when secured 10%+ is so available both here and elsewhere? Cashback seems inevitable, especially on larger loans. On the plus side, I've concluded that Christmas has indeed come early as Sept/Oct will be akin to the usual Dec/Jan drop in rates, although it will be muted slightly with the abundance of large 10%+ secured loans. I fully agree. The market for unsecured loan parts at the current average rates will probably be significantly reduced as many rational lenders will fly to quality. Only autobidders will stay. One observation that is bothering me: I am seeing a spike in property loan sales, specifically the 10% ones. I wonder if the reported "information asymmetry" is causing this.
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TitoPuente
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Post by TitoPuente on Aug 27, 2015 8:53:55 GMT
12011, 12078, 12160: "12 Aug 2015 Please note: The borrower has expressed an interest in settling this loan. A new loan request is to be listed shortly which, should the borrower accept their loan offer, will be used, in part, to settle this existing loan. Thanks, FC."
I wonder if this will happen this year. I have not done the calcs but I suspect the borrower is now paying interest for the replacing loans and the to-be-replaced loans at the same time.
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TitoPuente
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Post by TitoPuente on Aug 18, 2015 15:59:31 GMT
15041 closed early with marginal rate at 19.1% Is this the first E that closes above MBR? Will it drawdown?
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TitoPuente
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Post by TitoPuente on Aug 17, 2015 13:22:25 GMT
For AutoBodge to be bidding on £100 parts, you're really narrowing your market - for those who've got 0.5% as their maximum bid, you're looking for somebody with at least £20k in their FC account. You have a valid point even if parts are sold at a premium. I wonder what are the mean and median account sizes.
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TitoPuente
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Post by TitoPuente on Aug 17, 2015 9:21:43 GMT
I have always used £100 parts partly because I don't trust Fractal Calculation's rounding skills. I have been able to sell everything (non-property) I wanted to sell. For property I have tested using smaller parts with non-conclusive results.
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TitoPuente
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Post by TitoPuente on Aug 14, 2015 8:46:58 GMT
What's the threshold to become officially a Diversity Criminal?
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TitoPuente
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Post by TitoPuente on Aug 12, 2015 14:42:00 GMT
Why would someone refinance a 10% loan with a new 10% loan with additional 2% cashback of the exact same remaining duration? What did I miss? Because they want MORE now (and presumably quickly). Existing loans total £975k. New facility is for £1.6m (of which this is the first £350k) Got it. Thanks.
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TitoPuente
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Post by TitoPuente on Aug 12, 2015 14:35:50 GMT
And now 14978, an A-rated 10%+2CB over just 8 months! Time to root down the back of the sofa again. It's a refinance for a larger amount and will be used in part to repay earlier loans. Since I have some of these earlier loans (at 10% with no CB) I'm in. John Why would someone refinance a 10% loan with a new 10% loan with additional 2% cashback of the exact same remaining duration? What did I miss? Edit: On top of that, this new loan 14978 for 350K is intended to repay the previous three loans 12011, 12078 and 12160 for a total of 975K according to the comments on each of the existing loans. I am clearly missing something.
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TitoPuente
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Post by TitoPuente on Aug 7, 2015 16:57:29 GMT
Thanks for the tips!
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TitoPuente
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Post by TitoPuente on Aug 7, 2015 12:11:59 GMT
Furiously Crunching's stats [edit:in the weekly lending review] say that 17 E loans were launched in w/b 27 July but I take whatever Faintly Credible says with a pinch of Free-running Cerebos. I had my laptop set to squawk loudly whenever one appeared but caught only 12. The loan book won't tell me what the other five were. Can anyone add to these: 14694 14674 14669 14645 14633 14586 14611 14560 14584 14555 14548 14532? Nine of these have already been accepted. Incidentally, out of about 40 that I've bid on since 1 July, only one has been rejected so far. Pardon my technical ignorance, but how do you make your laptop squawk when an E loan appears? Is there a setting or alert that I am not aware of or you run a script or some type of bot?
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TitoPuente
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Post by TitoPuente on Aug 4, 2015 14:15:36 GMT
You know you undersold a part when a bot snatches it in 10 milliseconds.
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TitoPuente
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Post by TitoPuente on Jul 31, 2015 14:26:03 GMT
Now it won't let me bid on anything, despite having plenty of available funds. Must be Friday Convulsions. Same here.
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TitoPuente
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Funding Circle (FC)
Fees
Jul 23, 2015 12:18:48 GMT
Post by TitoPuente on Jul 23, 2015 12:18:48 GMT
Not a tax expert, so I can't meaningfully contribute to what's already known. But where the FC tax statement says 'Net payments made to you', I report that amount as untaxed UK interest to HMRC for 2014/15. I plan to do the same for 2015/16. I concur. I will report the "Net payments made to you" as interests before tax. If HMRC has any objection I am prepared to defend my position.
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TitoPuente
Member of DD Central
Posts: 623
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Post by TitoPuente on Jul 20, 2015 10:50:26 GMT
The website seems to be crashing heavily today.
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TitoPuente
Member of DD Central
Posts: 623
Likes: 655
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Post by TitoPuente on Jul 13, 2015 16:34:08 GMT
Is it my impression or there has been an increasing early closing activity lately?
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