sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,426
Likes: 1,211
|
Post by sqh on Apr 4, 2016 14:21:47 GMT
No hurry. If it doesn't fill until Wednesday the rollover interest will be next tax year. OK, I see, was just surprised how long the last few k is taking to fill. Oh dear it's filled. I believe the C****** Fund were the culprits.
|
|
|
Post by Deleted on Apr 4, 2016 14:39:04 GMT
Seems like there is activity across a few loans, Yorkshire Property just filled as well.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Apr 4, 2016 16:54:44 GMT
Seems like there is activity across a few loans, Yorkshire Property just filled as well. With more £800k being returned to investors' accounts as a result of the two loans cancelled this afternoon, it doesn't surprise me that some of that money is being re-invested in the available loans, though the BHs who invested in those loans for the cashback and bonus interest probably won't bother. These cancellations might be enough to turn the feast back into a famine.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on May 18, 2016 8:48:05 GMT
Back again!
Has any money been paid back on this or continued to renew?
What are people's thoughts about the asset itself?
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on May 18, 2016 9:24:09 GMT
I have a bit in the first charge loan (17.9% LTV)(might even try to increase it on renewal), but will not be taking a position of third charge on LTV 50%, even if that is on an obselete valuation much lower than the present one. I treat old books like old paintings ... they are only worth what you can actually get for them, not what some enthusiastic expert says you should get for them.
|
|
investibod
Member of DD Central
Posts: 288
Likes: 152
|
Post by investibod on May 18, 2016 15:46:11 GMT
For some reason I like these books. The LTV is low and I already have too much in property loans.
I have a piece of each of the other tranches, and I am buying more of this one. I should probably stop after this one, and it is getting a bit high for my limit on any one borrower.
|
|
jamesc
Member of DD Central
Posts: 447
Likes: 253
|
Post by jamesc on Jul 21, 2016 10:26:22 GMT
I notice that another tranche is up renewal. They look ok decent interest lowish LTV and a change from property. But they just keep renewing does anyone have a view on this and it would be great for FS to give some colour as to a final exit plan.
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Jul 21, 2016 10:48:38 GMT
I notice that another tranche is up renewal. They look ok decent interest lowish LTV and a change from property. But they just keep renewing does anyone have a view on this and it would be great for FS to give some colour as to a final exit plan. The fact that they're renewing proves that the borrower is paying another 6 month's interest each time, so presumably still intends to redeem them eventually. I quite like this loan but my larger-than-normal stake in it is all in the "1st charge" tranche.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Jul 21, 2016 11:51:32 GMT
There is also a large 15th century book loan on unbolted this week (circa £800k).
|
|
SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
|
Post by SteveT on Jul 21, 2016 12:23:56 GMT
There is also a large 15th century book loan on unbolted this week (circa £800k). Is it clearly the same books (Italian)? If so, that's possibly where the further interest is coming from ...
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840
Likes: 11,068
|
Post by ilmoro on Jul 21, 2016 12:34:33 GMT
There is also a large 15th century book loan on unbolted this week (circa £800k). Is it clearly the same books (Italian)? If so, that's possibly where the further interest is coming from ... Its an Italian collector buying Shakespeare if IRC (deleted the email)Edit - its an Italian book dealer whose refinancing a 1st Ed Shakespeare which he is selling to an Italian collector.
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Jul 21, 2016 12:52:13 GMT
There is also a large 15th century book loan on unbolted this week (circa £800k). Is it clearly the same books (Italian)? If so, that's possibly where the further interest is coming from ... Initially I thought so, as they were 15th century etc etc, but the lot on unbolted is catalogued and there are a lot less of them having had a quick look..... just one of those alarm bell moments
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Jul 21, 2016 13:05:21 GMT
It ought not be possible for someone to take a further loan on a given asset without the earlier lender(s) being aware. But perhaps that's not the case if the further loans rank behind.
Does anyone remember where the books securing the FS loans are located (physically) during the period the loans are outstanding? IIRC, FS don't actually have them in their possession.
|
|
locutus
Member of DD Central
Posts: 1,059
Likes: 1,622
|
Post by locutus on Jul 21, 2016 13:08:35 GMT
It ought not be possible for someone to take a further loan on a given asset without the earlier lender(s) being aware. But perhaps that's not the case if the further loans rank behind. Does anyone remember where the books securing the FS loans are located (physically) during the period the loans are outstanding? IIRC, FS don't actually have them in their possession. I'm interested in this too. If FS don't have possession, where exactly is a legal charge registered to prevent the borrower taking out further loans on the same security?
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Jul 21, 2016 17:44:30 GMT
It ought not be possible for someone to take a further loan on a given asset without the earlier lender(s) being aware. But perhaps that's not the case if the further loans rank behind. Does anyone remember where the books securing the FS loans are located (physically) during the period the loans are outstanding? IIRC, FS don't actually have them in their possession. I'm interested in this too. If FS don't have possession, where exactly is a legal charge registered to prevent the borrower taking out further loans on the same security? It looks like we need to ask fundingsecure how they -- and we -- can be assured that the borrower can't take out multiple loans against these same books.
|
|