p2pfan
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Post by p2pfan on Mar 26, 2020 0:40:33 GMT
How times change: a 32% LTV loan on a decent property would have got snapped up in minutes until three weeks ago. Now only £15k has been lent by the end of the day, with 93% of the loan still available.
Not surprised when the executive summary states: " The expected repayment of the loan is coming via sale of another property owned by the borrower." Slim chance of that sale happening for a very long time, though they have wisely given the loan a term of 365 days.
Considering how the world has turned upside down, one imagines the interest rates being offered are going to have to increase enormously for lenders to risk their money in a car-crash economy?
What do you think?
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SteveT
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Post by SteveT on Mar 26, 2020 10:16:01 GMT
How times change: a 32% LTV loan on a decent property would have got snapped up in minutes until three weeks ago. Now only £15k has been lent by the end of the day, with 93% of the loan still available. Not surprised when the executive summary states: " The expected repayment of the loan is coming via sale of another property owned by the borrower." Slim chance of that sale happening for a very long time, though they have wisely given the loan a term of 365 days. Considering how the world has turned upside down, one imagines the interest rates being offered are going to have to increase enormously for lenders to risk their money in a car-crash economy? What do you think? I think you've failed to notice BC haven't yet sent out their usual email to lenders to tell them about that one, so very few have spotted it!
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bg
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Post by bg on Mar 26, 2020 13:02:48 GMT
I've had about £100k worth up for sale on the SM for over a week now.
I'm starting to delist them all. None of them are selling and figure I may as well pick up the interest while I can.
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SteveT
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Post by SteveT on Mar 26, 2020 15:57:28 GMT
I've had about £100k worth up for sale on the SM for over a week now. I'm starting to delist them all. None of them are selling and figure I may as well pick up the interest while I can. Undiscounted?
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victors
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Post by victors on Mar 26, 2020 16:07:05 GMT
Saw a 5% discount earlier.
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bg
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Post by bg on Mar 26, 2020 16:25:04 GMT
I've had about £100k worth up for sale on the SM for over a week now. I'm starting to delist them all. None of them are selling and figure I may as well pick up the interest while I can. Undiscounted? I had a 1% discount on most of them. I'm better off taking the interest for now.
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p2pfan
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Post by p2pfan on Apr 3, 2020 16:33:34 GMT
BC has been launching loans at a slightly higher interest rate now, at higher than 10% p.a. (though I doubt that factors in the massively high risk-reward ratio now for property loans compared to a couple of months ago). It's been interesting to see the recent ones flying off the shelves at the pace of loo roll, so it seems like a vote of confidence in the platform and their loans from lenders.
Why do you think recent loans on BC are doing so well compared to other P2P platforms in the current environment?
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michaelc
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Post by michaelc on Apr 4, 2020 19:43:59 GMT
BC has been launching loans at a slightly higher interest rate now, at higher than 10% p.a. (though I doubt that factors in the massively high risk-reward ratio now for property loans compared to a couple of months ago). It's been interesting to see the recent ones flying off the shelves at the pace of loo roll, so it seems like a vote of confidence in the platform and their loans from lenders. Why do you think recent loans on BC are doing so well compared to other P2P platforms in the current environment? For me, reading the updates page for loans I'm not in has given me confidence in the past to invest. BC get results. Also the asset class of the security appeals.
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Nomad
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Post by Nomad on Apr 6, 2020 16:34:38 GMT
Today's new loan was oversubscribed. £400K 1st charge, 51.6% LTV, 10.8% interest.
Two live loans are now 90% and 97% filled at 9% interest and 67 to 70% LTV.
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