Post by trium on Apr 30, 2019 15:06:02 GMT
I've previously commented on the Woodh**d Farm and L*dyb*nk loans that the SM appears not to be restricted by the minimum bids imposed by FS on the PM. These loans did have some parts below the minimum due to renewals being allowed and I wondered whether FS wanted to avoid the confusion of some parts being sub-divisible below the minimum and others not.
Albi*n Gr*ve has now appeared on the SM. This is the first time we have seen a loan which has been exclusively funded under a minimum bid regime and it appears that the minimum £250 does not apply on the SM. I find that questionable - if there's a good reason for minimum bids in the first place surely it still applies to those entering via the SM. I'm also dismayed that flippers have been handed another opportunity to exploit the system by buying loans simply to resell to those who can't or won't stump up the minimum.
Albi*n Gr*ve has now appeared on the SM. This is the first time we have seen a loan which has been exclusively funded under a minimum bid regime and it appears that the minimum £250 does not apply on the SM. I find that questionable - if there's a good reason for minimum bids in the first place surely it still applies to those entering via the SM. I'm also dismayed that flippers have been handed another opportunity to exploit the system by buying loans simply to resell to those who can't or won't stump up the minimum.