markr
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Post by markr on Jan 30, 2014 8:33:00 GMT
A suggestion from another thread. It would be useful to know where a pre-bid is in the "queue", especially if it was placed when the loan was already over 100% full to judge how likely it is to become a real bid when the auction opens.
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markr
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Post by markr on Jan 30, 2014 8:28:29 GMT
Arrgh! The 5 year is now an "easy" 5.8% and may well spike to 5.9 or more today and my holding account balance is... 78p! By the time I've got a transfer in the 1st-of-the-month repayments will be recirculating at market rate and the rates will plummet again!
Free instant funding can't come soon enough!
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markr
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Post by markr on Jan 29, 2014 21:29:30 GMT
I think the five bids you are looking at are the final five bids of the original auction two months ago. Rats!
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markr
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Post by markr on Jan 29, 2014 20:53:02 GMT
I can see how markr could tell where his bid was in the queue at the time he placed it, but is it possible to tell at a later time whether any pre-bids that had been in front of you in the queue have been deleted? I think it would be very useful to know where one's bids stand in an overfunded pre-bid situation. Agreed, it would be very useful to know. My pre-bid on this one must be in because when I just looked the last 5 prebids (which didn't include mine) totalled £12600 and the total bids were nearly £87000, so all bids below those 5 are definitely in. But I was lucky that the top 5 included some biggies, in general as you say there's no way to know if your pre-bid has wheedled its way in.
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markr
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Post by markr on Jan 29, 2014 13:38:45 GMT
Can I respectfully ask that some of you remove a few bids please . I missed this one (it was before the maximum bid cap and pre-bidding) and my pre-bid is now in the first few hundred quid over the top of the full loan amount. Thank you.
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markr
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Post by markr on Jan 29, 2014 9:30:00 GMT
What makes me slightly nervous (but not enough to lose sleep over!) is that DD issues are normally stated as such "Administrative errors blah blah direct debit rhubarb rhubarb not received in time etc etc". WA(CT)CTB seems to be code for "This is most irregular and we are kicking the borrowers botty as much as we can without actually leaving our desk".
I would think that if Tellyco and/or Piles of Cranes went pop it would pretty much be the end of FC. The new telly loan is 4211 "*qui*m*** Pu****s*"
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markr
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Post by markr on Jan 28, 2014 20:03:57 GMT
I currently have 4 loans (including the solicitor) that have not bothered to make their first payment and are in various stages of WA(CT)CTB. Worryingly, one of them is a serial borrower who I am exposed to in several other loans. Still, at least they are asset backed so there's something for FC to flog off to repay us - anyone want to buy some slightly used broadcast telly kit?
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markr
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Post by markr on Jan 21, 2014 20:55:50 GMT
Thanks Kev
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markr
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Post by markr on Jan 21, 2014 20:16:01 GMT
Hi Kev, sorry to hijack this thread but as you're here can you confirm the bank account change I asked on another post. I want to transfer in some funds but I'm a bit nervous of it going into hyperspace
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markr
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Post by markr on Jan 21, 2014 13:08:39 GMT
I have RS set up as a payee on my bank account but just went to transfer some funds and noticed that the account number stored in my payee record (135**496) is not the same as the one on the RS website (238**553). Annoyingly, this means I can't make the transfer because I don't have my electronic dongle thingy so can only pay existing payees, but before I change it can RS confirm that they have changed their account and my transfer won't end up in some scammer's account. Thanks.
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markr
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Assetz Capital (AC)
New loans
Jan 21, 2014 11:45:16 GMT
Post by markr on Jan 21, 2014 11:45:16 GMT
After a somewhat quiet start to the year we have a large number of loans to come through from today and right through February. A very brief overview is given below of what I expect to preview and start auction on in the next 5 days: Is it worth me transferring some funds in, or are they all just going to be pre-bid out of existence by gold members or gone in 2 minutes as usual?
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markr
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Post by markr on Jan 16, 2014 11:57:51 GMT
A similar point was made on the old forum about C loans when they were first introduced. A theory was C (and C-) loans are more likely to be to small, maybe family run, concerns whose directors are passionate about their business and have a lot of their own at stake, too, so are less likely to just call in the receivers and make a run for it in bad times. Another theory is that the data set is too small and it's too early to draw any meaningful conclusions.
My concern with C- loans is the tax issue, and maybe they give FC even more excuse to do nothing about defaults (waiting for the first "It was a C-, what do you expect - FC" comment). To be fair though, I do have some of Lo*d Of S**t and FC do seem to have been working on our behalf and we're promised payments again this month.
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markr
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Post by markr on Jan 16, 2014 11:29:21 GMT
Within the lending page for 'monthly money' it says "Your money is lent for one month. At the end of the month, you can roll your contract over or you can withdraw your funds. Borrowers are re-matched in the market with new Lenders each month and enjoy a low-rate loan." I confess I had read that early on but forgotten it. I still don't really understand though. Are you saying certain borrowers get their loans funded entirely from monthly money and so get an amazing deal, or is the monthly money used to part-fund loans to lower the overall APR for all borrowers? Also, suppose there's a load of funds lent out at 1.8% maturing when the market rate is 3.0%. How are these borrowers matched to new money at the same APR? It seems to me that whenever the monthly market rate is rising, all lenders with funds lent out at lower rates must be locked in, because there's nowhere else for RS to get the funds from as cheaply to cover the loan without raising the borrower's APR retrospectively. I suspect I'm being a bit thick and missing something obvious??
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markr
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Post by markr on Jan 16, 2014 10:48:54 GMT
This thread has cleared up a puzzle I had with the Mini Monsters loan (1001) where in November there was a comment that the guarantor has coughed up and we'd get out money back "in due course" but nothing since. I checked back and sure enough my £3.48 was credited back to me the day after the comment. I'd have a celebratory drink in my local but its £3.49 a pint!
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markr
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Post by markr on Jan 15, 2014 14:48:01 GMT
I've just popped in and the monthly rate is 3.7%, 0.7% higher than the 1 year bond!
Just for interest, how does the monthly market work? RS don't offer monthly loans, so where is this money used (presumably, to fund longer term loans and if so, what happens if the lender chooses not to relend at the end of the month)?
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