mikes1531
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Post by mikes1531 on Dec 7, 2017 21:43:54 GMT
Are you sure!?  It doesn't need to be nearly £1m, say £350k should cover. The problem is I'm not convinced that this wasteland is worth that much. I probably just don't understand the security, so have passed(again). : When you say "I'm not convinced that this wasteland is worth that much", are you referring to the £950k in the VR or the £350k? If the latter, and if you're right, this could indeed be a case of 'sale by pawn'. And considering the long history of non-use of the property, the value has to be rather uncertain, to say the least.
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Liz
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Post by Liz on Dec 7, 2017 22:17:14 GMT
It doesn't need to be nearly £1m, say £350k should cover. The problem is I'm not convinced that this wasteland is worth that much. I probably just don't understand the security, so have passed(again). : When you say "I'm not convinced that this wasteland is worth that much", are you referring to the £950k in the VR or the £350k? If the latter, and if you're right, this could indeed be a case of 'sale by pawn'. And considering the long history of non-use of the property, the value has to be rather uncertain, to say the least. Either! I just have no idea. It could be worth the lower figure, but take several years to sell for example, or worth more or less  Hard to find comparables. Paying 10% makes it an easy pass for me.
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adrian77
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Post by adrian77 on Dec 8, 2017 9:06:47 GMT
I am not even convinced it is worth £350K - looks like sale (at way above market value) by pawn to me----think Whitehaven!
As I said FS are sure clocking up millions of pounds in property loans of which I can see a lot not renewing. V**** Br**** Mill isn't exactly selling like hot cakes is it...
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syalith
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Post by syalith on Dec 8, 2017 19:30:06 GMT
If anyone wants to take a chance on this one and missed it yesterday I am selling my £10k for a discount to get rid of it quickly.
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Liz
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Post by Liz on Dec 8, 2017 21:40:36 GMT
If anyone wants to take a chance on this one and missed it yesterday I am selling my £10k for a discount to get rid of it quickly. Why sell so soon?
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syalith
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Post by syalith on Dec 8, 2017 23:42:57 GMT
I invested in this without reading the valuation because I woke up too late, I assumed at 30% it would be safe but now that I've had a read the security for this loan appears to be a patch of grass next to a railway line. I could wait for a few months and sell at 1% discount and at least make something on it but that is taking the chance that there will always be a buyer waiting on the secondary market which may not always be the case. The economy could take a turn for the worse and suddenly no one wants to invest in risky loans like this and I'm stuck waiting for this patch of grass to sell for £300k to get my money back. Much better to sell now for a small loss and invest in better, safer loans of which there are plenty.
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mikes1531
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Post by mikes1531 on Dec 9, 2017 4:35:31 GMT
And it looks like syalith isn't the only investor having second thoughts about this loan. There's about £25k of parts for sale at a discount at the moment. |
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Post by dan1 on Dec 9, 2017 11:10:35 GMT
£1.75k at -1% with 182 days remaining!
Edit: looks like someone purchased £100 and the remaining £1.65k was taken by a flipper and relisted at -0.5%
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rogerthat
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Post by rogerthat on Dec 9, 2017 11:59:13 GMT
£1.75k at -1% with 182 days remaining! Edit: looks like someone purchased £100 and the remaining £1.65k was taken by a flipper and relisted at -0.5% Sorry to rain on your parade but I purchased 200squid...only on the basis that it 'should' make one renewal...lets hope the old boys network (rail) doesn't let me down
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Post by dan1 on Dec 9, 2017 12:24:13 GMT
£1.75k at -1% with 182 days remaining! Edit: looks like someone purchased £100 and the remaining £1.65k was taken by a flipper and relisted at -0.5% Sorry to rain on your parade but I purchased 200squid...only on the basis that it 'should' make one renewal...lets hope the old boys network (rail) doesn't let me down Was this your first foray into the SM?
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rogerthat
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Post by rogerthat on Dec 9, 2017 12:31:35 GMT
It wasn't bought on the SM...it went live yesterday I guess the topic was the amount currently on the SM..so soon after going live..oh well my tiepying kneads the praktise  and no..Ive still got my 'L' plates on with regard to the SM |
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Post by pharcyde on Dec 13, 2017 9:59:24 GMT
B**h C*****e, T****e, B*******e
This is another FS loan with a low LTV that filled incredibly quickly.
However - the secondary market has about 35k sat there at an -0.2% discount.. effectively meaning who ever committed to that stake is getting shot immediatly at a loss. The loan is only several days in, and that discounted amount has been there since the loan went live (or at least very shortly after).
Why would you do that?? Strikes me as very unusual...
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Post by dan1 on Dec 13, 2017 10:20:35 GMT
B**h C*****e, T****e, B*******e This is another FS loan with a low LTV that filled incredibly quickly. However - the secondary market has about 35k sat there at an -0.2% discount.. effectively meaning who ever committed to that stake is getting shot immediatly at a loss. The loan is only several days in, and that discounted amount has been there since the loan went live (or at least very shortly after). Why would you do that?? Strikes me as very unusual... /Mod hat on pharcyde - your post has been merged into the existing thread for this loan. Btw you'll find an example of why someone is/was selling out at a loss further up the thread (see posts by syalith)
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rambler
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Post by rambler on Dec 13, 2017 10:26:01 GMT
B**h C*****e, T****e, B*******e This is another FS loan with a low LTV that filled incredibly quickly. However - the secondary market has about 35k sat there at an -0.2% discount.. effectively meaning who ever committed to that stake is getting shot immediatly at a loss. The loan is only several days in, and that discounted amount has been there since the loan went live (or at least very shortly after). Why would you do that?? Strikes me as very unusual... There is only about £2000 to £3000 on offer at this rate.
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Post by pharcyde on Dec 13, 2017 10:27:34 GMT
B**h C*****e, T****e, B*******e This is another FS loan with a low LTV that filled incredibly quickly. However - the secondary market has about 35k sat there at an -0.2% discount.. effectively meaning who ever committed to that stake is getting shot immediatly at a loss. The loan is only several days in, and that discounted amount has been there since the loan went live (or at least very shortly after). Why would you do that?? Strikes me as very unusual... /Mod hat on pharcyde - your post has been merged into the existing thread for this loan. Btw you'll find an example of why someone is/was selling out at a loss further up the thread (see posts by syalith ) Thanks Dan.
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Hard to find comparables. Paying 10% makes it an easy pass for me.
and no..Ive still got my 'L' plates on with regard to the SM