r00lish67
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Post by r00lish67 on Jul 19, 2018 16:28:10 GMT
lots of loans with steep discounts - liquidity on SM lower than usual. What is causing this big dip in liquidity on the SM? It's been going for a couple of months now...and getting worse! This is actually just coming back to the trend we saw arising in Feb/March, where at one point we had well over 100 loans trading at max discount. The new ISA year spurred lots to buy up discounted loans, but that effect is fading now. There is basically more supply of SM loan than demand currently: Supply is high as Fundingsecure seem unable to make sufficient borrowers repay loans in full, so they stay on the books either being endlessly renewed or just go into the FS twilight zone. Demand is low because Fundingsecure seem unable to make sufficient borrowers repay loans, and investors eventually tire of not seeing their money come back. Short of a few pretty major loan completions, I fully expect to see us back at the 100+ loans at max discount soon. Whether or not that happens, it would be most useful for: a) Fundingsecure to actually facilitate repaying some loans in full as opposed to claiming they are. b) Fundingsecure removing the artificial 1% discount barrier to allow some liquidity in such situations. Edit: Re-reading this, I don't mean to imply that FS aren't at some level trying to see loans be refinanced or paid back. They just need to try harder and succeed with at least some of them.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Jul 19, 2018 17:45:04 GMT
Does anyone have any idea why there are so many offers of this loan with 1% discount? Any recent updates that affected the market? Anyone with DD Central access? You should go to Google earth/map and take a trip down the street & see what you think of the place.
When I was doing my DD I noticed the number of For Sale/To Let/Closing Down Sales. Doesn't look health to me.
What do you think ?
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rogerthat
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Post by rogerthat on Jul 19, 2018 18:09:24 GMT
Does anyone have any idea why there are so many offers of this loan with 1% discount? Any recent updates that affected the market? Anyone with DD Central access? You should go to Google earth/map and take a trip down the street & see what you think of the place.
When I was doing my DD I noticed the number of For Sale/To Let/Closing Down Sales. Doesn't look health to me.
What do you think ?
Probably snowflakes..there's £7925 currently on the SM...which represents 7.4%...hardly the Great Depression n'est pas ?..have another butchers around the 100 day mark perhaps ?
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lexo
Posts: 52
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Post by lexo on Jul 19, 2018 18:57:35 GMT
What is causing this big dip in liquidity on the SM? It's been going for a couple of months now...and getting worse! This is actually just coming back to the trend we saw arising in Feb/March, where at one point we had well over 100 loans trading at max discount. The new ISA year spurred lots to buy up discounted loans, but that effect is fading now. There is basically more supply of SM loan than demand currently: Supply is high as Fundingsecure seem unable to make sufficient borrowers repay loans in full, so they stay on the books either being endlessly renewed or just go into the FS twilight zone. Demand is low because Fundingsecure seem unable to make sufficient borrowers repay loans, and investors eventually tire of not seeing their money come back. Short of a few pretty major loan completions, I fully expect to see us back at the 100+ loans at max discount soon. Whether or not that happens, it would be most useful for: a) Fundingsecure to actually facilitate repaying some loans in full as opposed to claiming they are. b) Fundingsecure removing the artificial 1% discount barrier to allow some liquidity in such situations. Edit: Re-reading this, I don't mean to imply that FS aren't at some level trying to see loans be refinanced or paid back. They just need to try harder and succeed with at least some of them. I agree with you, especially on 1% discount cup. Doesn't make much sense. The free market works.
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lexo
Posts: 52
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Post by lexo on Jul 19, 2018 19:00:12 GMT
Does anyone have any idea why there are so many offers of this loan with 1% discount? Any recent updates that affected the market? Anyone with DD Central access? You should go to Google earth/map and take a trip down the street & see what you think of the place.
When I was doing my DD I noticed the number of For Sale/To Let/Closing Down Sales. Doesn't look health to me.
What do you think ?
Thank you. This is helpful. I see that you're a member of DD Central. Did you see anything there related to this loan?
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trium
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Post by trium on Jan 23, 2019 17:53:03 GMT
Gone very quiet this one - 3 months late and no updates since:
26/10/2018
The borrower has requested a renewal of this loan which will be considered once we receive an update on the works carried out so far and have up to date pictures of the property
25/09/2018
The client has confirmed works are continuing on the property and will shortly be providing us photos to show what has been done. Once we receive them we will add them onto the loan.
11/09/2018
The client has confirmed the works have begun on the property and is aiming to have them completed by October. We will post photos of the works carried out to date when we receive them.
For once it seems to be FS obstructing the renewal, judging by the most recent update. Hopes were raised when it appeared on the "coming soon" list with status "Asset Checking". It was there for some time but it was quietly dropped a few weeks ago. Reason unknown but I'd guess lack of progress on site (or of evidence thereof)
I can't quarrel if FS are going to be particular about renewing but I think it's about time for an update?
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rocky1
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Post by rocky1 on Jan 23, 2019 18:09:48 GMT
update 26/10/18.would it have been quicker for someone from FS to jump in the motor and take the bloody pictures themselves.could also have met the borrower and find out whats going on.
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09dolphin
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Post by 09dolphin on Jan 23, 2019 18:14:27 GMT
Gone very quiet this one - 3 months late and no updates since: 26/10/2018The borrower has requested a renewal of this loan which will be considered once we receive an update on the works carried out so far and have up to date pictures of the property25/09/2018The client has confirmed works are continuing on the property and will shortly be providing us photos to show what has been done. Once we receive them we will add them onto the loan.
11/09/2018The client has confirmed the works have begun on the property and is aiming to have them completed by October. We will post photos of the works carried out to date when we receive them.For once it seems to be FS obstructing the renewal, judging by the most recent update. Hopes were raised when it appeared on the "coming soon" list with status "Asset Checking". It was there for some time but it was quietly dropped a few weeks ago. Reason unknown but I'd guess lack of progress on site (or of evidence thereof) I can't quarrel if FS are going to be particular about renewing but I think it's about time for an update?
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adrian77
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Post by adrian77 on Jan 24, 2019 8:57:59 GMT
this is just a ground floor shop unit that used to be a betting shop - maybe FS should move in!
And just how vibrant are most UK shopping streets at the moment.
Another interesting one...
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rogerthat
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Post by rogerthat on Jan 24, 2019 9:05:46 GMT
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 24, 2019 9:17:29 GMT
this is just a ground floor shop unit that used to be a betting shop - maybe FS should move in! And just how vibrant are most UK shopping streets at the moment. Another interesting one... Not just a shopping street. It’s a Scottish shopping street even less attractive  Nice part of the country. There was a lot of discussion when this loan launched none of which seems to have been of much use. Never was much for sale on this one so not any opportunity for me to make a few pence. As you all know repossession in Scotland is a long drawn out affair. Let’s hope on behalf of those in this that it is not required.
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rocky1
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Post by rocky1 on Jan 24, 2019 9:31:37 GMT
this is just a ground floor shop unit that used to be a betting shop - maybe FS should move in! And just how vibrant are most UK shopping streets at the moment. Another interesting one... Looks a good place for FS to open their first pawn shop.
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adrian77
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Post by adrian77 on Jan 24, 2019 12:06:54 GMT
exactly and a betting shop e.g. any takers for 100:1 for the powerboat funds arriving before 2020...
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 24, 2019 18:40:59 GMT
this is just a ground floor shop unit that used to be a betting shop - maybe FS should move in! And just how vibrant are most UK shopping streets at the moment. Another interesting one... Looks a good place for FS to open their first pawn shop. I think you will find their main players used to have pawn shops
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rocky1
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Post by rocky1 on Jan 24, 2019 19:11:14 GMT
main players alright.main players is that why they treat all this like a bloody game playing with other peoples money. main p*ss takers you mean.
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