star dust
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Post by star dust on Aug 26, 2014 12:36:41 GMT
Property Bridge 08 has now gone live. Usual pre-drawdown cash-back £455k 70% LTV. Not sure if this is the Bourne 'replacement', but the Bourne has been repaid and this is a commercial loan.
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Post by Deleted on Aug 26, 2014 13:13:01 GMT
Excellent. I missed the last cash back so I'm investing in this one straight away.
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Post by Deleted on Aug 26, 2014 13:31:19 GMT
I see the flippers are out in force. PBL08 goes live with cashback and suddenly lots of bits of older PBLs are on the market.
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Post by Deleted on Aug 26, 2014 13:36:11 GMT
as at 14.35, Tues 26 Aug:
£152,000 funded
66.61% available.
Going fast this one.
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mikes1531
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Post by mikes1531 on Aug 26, 2014 13:37:34 GMT
I see the flippers are out in force. PBL08 goes live with cashback and suddenly lots of bits of older PBLs are on the market. This presents a good opportunity to diversify one's holdings.
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Post by Deleted on Aug 26, 2014 14:00:29 GMT
It does - and I've invested a bit in a PBL I was light in myself. Decided to forego cashback on a bit to get a piece of a pie I'm not in by reducing my exposure in another pie.
My point is that the cashback is presumably designed to attract new ££ onto the platform - if a lot of it is just flipped money that would seem to defeat the object.
Maybe cashback should only be offered on new money not old money. and then it could be more generous at 0.75% or 1%.
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star dust
Member of DD Central
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Post by star dust on Aug 26, 2014 14:09:50 GMT
It seems to me that the cash back works well for SS as the flipped bits usually sell out pdq too so overall their lent total and thus new funds go up too!
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Aug 26, 2014 14:10:35 GMT
It does - and I've invested a bit in a PBL I was light in myself. Decided to forego cashback on a bit to get a piece of a pie I'm not in by reducing my exposure in another pie. My point is that the cashback is presumably designed to attract new ££ onto the platform - if a lot of it is just flipped money that would seem to defeat the object. Maybe cashback should only be offered on new money not old money. and then it could be more generous at 0.75% or 1%. It makes no difference - the new money still comes in to cover the loan parts being sold - the same amount of new money comes to SS one way or the other.
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Post by Deleted on Aug 26, 2014 14:15:00 GMT
Yes, suppose so. It's been the busiest day of trading I've seen on SS for a while and the loan parts up for sale are selling well.
as at 15.14
PBL08
Amount funded £166,370.93
Available 63.43%
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mikes1531
Member of DD Central
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Post by mikes1531 on Aug 26, 2014 14:18:15 GMT
My point is that the cashback is presumably designed to attract new ££ onto the platform - if a lot of it is just flipped money that would seem to defeat the object. In order to flip money from an older loan into the new PBL, there has to be an investor willing to pick up the loan parts offered for sale. To a large extent, the money for those purchases probably is 'new' money that wouldn't be invested in SS if it weren't for the availability of the parts for sale. So SS still win to the extent that the fees due to their underwriters are reduced. Maybe cashback should only be offered on new money not old money. and then it could be more generous at 0.75% or 1%. Old money/new money restrictions on cashback offers probably don't achieve the desired effect. They alienate old money investors, and they're often circumventable -- such as by bringing in 'new' money first and then selling old parts and withdrawing funds later so as to be prepared for the next 'new' money cashback offer. Adding more Ts&Cs to the offer just complicates things and puts off more potential investors. PS. Must learn to type faster, as others have said it first!
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Investor
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Post by Investor on Aug 26, 2014 14:22:44 GMT
My point is that the cashback is presumably designed to attract new ££ onto the platform - if a lot of it is just flipped money that would seem to defeat the object. In order to flip money from an older loan into the new PBL, there has to be an investor willing to pick up the loan parts offered for sale. To a large extent, the money for those purchases probably is 'new' money that wouldn't be invested in SS if it weren't for the availability of the parts for sale. So SS still win to the extent that the fees due to their underwriters are reduced. Maybe cashback should only be offered on new money not old money. and then it could be more generous at 0.75% or 1%. Old money/new money restrictions on cashback offers probably don't achieve the desired effect. They alienate old money investors, and they're often circumventable -- such as by bringing in 'new' money first and then selling old parts and withdrawing funds later so as to be prepared for the next 'new' money cashback offer. Adding more Ts&Cs to the offer just complicates things and puts off more potential investors. PS. Must learn to type faster, as others have said it first! Well said Mike. Not forgetting that we also used to regularly compliment savingstream on their KISS interface and procedures.
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star dust
Member of DD Central
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Post by star dust on Aug 26, 2014 14:24:10 GMT
I think it was pretty busy when 06 went live too, and there were a lot more boat bits going up then as well. Less of them about now though I guess and smaller bits on the newer ones with the capping that's been introduced.
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Post by Deleted on Aug 26, 2014 14:42:19 GMT
Not from me, but 4.75% of the 1999 Dufour 43 currently available.
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Post by Deleted on Aug 26, 2014 16:00:52 GMT
17.00, 26th Aug
Only 55.46% left
Amount funded £202,644.16
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Post by wildlife2 on Aug 26, 2014 17:30:06 GMT
I'm in, anyone else?
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