alanh
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Post by alanh on Apr 28, 2019 8:37:51 GMT
The latest update on these loans posted under 1000038 indicates that the borrower intends to pay the whole lot off by the end of August. If that's the case I don't quite understand why the (underwriters?) are still prepared to offload these loans (114 in particular and also 100 from the looks of it) at a 5% discount to par. That's almost a 30% compound interest rate to the end of August. Does that mean they have other opportunities they can invest in that generate 30%+? Or alternatively they don't believe the borrower and just want out?
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blender
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Post by blender on Apr 28, 2019 9:26:23 GMT
Or they have not read the update? Many lenders have bought at 95% and will probably settle for a profit before August and the promised great refinance. The only fact is that 38 is not being repaid on the due date. The refinance of 80 and 98 is beginning to loom again, I've lost count of how many times.
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macq
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Post by macq on Apr 28, 2019 9:39:05 GMT
38 is being extended to December - so while they admit the refinance has not gone as quick as hoped August is only a wish not a promise to some selling at 95% possibly
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alanh
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Post by alanh on Apr 28, 2019 10:04:12 GMT
I don't quite understand the reference to 80 and 98....... is that borrower connected to the ACI loans? It looks like something completely separate.
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blender
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Post by blender on Apr 28, 2019 11:33:31 GMT
I don't quite understand the reference to 80 and 98....... is that borrower connected to the ACI loans? It looks like something completely separate. Sorry, loan numbers 80 and 98. The external refinance never seems to happen.
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alanh
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Post by alanh on Apr 28, 2019 11:51:44 GMT
Yes but are you suggesting that loan refs 80 and 98 are somehow connected to ACI? Or are you just using those as examples of loan refinances not happening on time?
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hazellend
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Post by hazellend on Apr 28, 2019 12:04:18 GMT
I’m definitely buying at 95%
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alanh
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Post by alanh on Apr 28, 2019 12:56:20 GMT
I'm definitely thinking about it but worried I am missing something
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blender
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Post by blender on Apr 28, 2019 16:36:35 GMT
Yes but are you suggesting that loan refs 80 and 98 are somehow connected to ACI? Or are you just using those as examples of loan refinances not happening on time? The connection is the platform, or p2p more generally. When was the last time that an interest-only loan on this platform made a full repayment of principal in one go, let alone without an extension? Current loans 38,59,60,67,69,74,102 all have either been extended or planned to be. I'm just saying that if you buy now at 95% on the basis of getting it back at par by the end of August, you may be disappointed (or you may be lucky).
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hazellend
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Post by hazellend on Apr 28, 2019 17:09:26 GMT
Yes but are you suggesting that loan refs 80 and 98 are somehow connected to ACI? Or are you just using those as examples of loan refinances not happening on time? The connection is the platform, or p2p more generally. When was the last time that an interest-only loan on this platform made a full repayment of principal in one go, let alone without an extension? Current loans 38,59,60,67,69,74,102 all have either been extended or planned to be. I'm just saying that if you buy now at 95% on the basis of getting it back at par by the end of August, you may be disappointed (or you may be lucky).
That wouldn’t disappoint me
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blender
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Post by blender on Apr 29, 2019 8:22:26 GMT
Looks like the underwriter shares my confidence in jam-tomorrow stories. Anyone for a 5% profit on £30k in four months? Plus interest at 12%. Go on. You know you are tempted.
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alanh
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Post by alanh on Apr 29, 2019 8:41:34 GMT
I bought some. I think the return is worth the risk and the recent business update looks promising. My confidence doesn't stretch to 30k though!
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Balder
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Post by Balder on Apr 29, 2019 9:21:57 GMT
Mine does but I haven't got 30K .
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r1200gs
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Post by r1200gs on Apr 29, 2019 12:07:24 GMT
I too can't understand why the 5% discount if the loan is good. Where do I find the updates? Not that familiar with this platform.
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blender
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Post by blender on Apr 29, 2019 12:09:03 GMT
Only £21.4k left now! The question is, is there another £30k waiting and another after that etc? Or, if you wait to purchase later in order to gain a potentially obscene return at the end of August, will you miss out or will the asking price increase? r1200gs go to the SM for 38 and select trade to gain access to the documents.
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