jimbob
Member of DD Central
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Post by jimbob on Jun 3, 2016 12:49:49 GMT
So at best the loan is recovered and you get your capital and 12% interest (is the accruing interest being compounded?) and at worst you suffer a catastrophic capital loss - seems like a very asymmetric pay-off. There are other P2P platforms where you can get a similar return without taking on this level of risk so I struggle to believe lack of investment opportunities is driving people to invest. There is the saying, be greedy when others are fearful - but I'm not sure Mr Buffet was considering Garden Centres in default on this one...
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Liz
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Post by Liz on Jun 3, 2016 12:57:42 GMT
£1.64m not for sale on the SM, so the majority seem happy to hold. I'm keeping my 1p in the loan, I'm not worried  Although opening my loans and seeing PBL20 does make my heart skip a beat  |
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Post by earthbound on Jun 3, 2016 13:01:48 GMT
£1.64m not for sale on the SM, so the majority seem happy to hold. I'm keeping my 1p in the loan, I'm not worried Although opening my loans and seeing PBL20 does make my heart skip a beat are you happy to forfeit the interest on your penny?
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mikes1531
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Post by mikes1531 on Jun 3, 2016 13:11:52 GMT
The upside for any such people is being able to place that size of investment into the market in one chunk ... todays new loans on here and on AC could result in allocations of just a few hundred pounds per loan. : Today's new loans are >£1M, so allocations will be a percentage of pre-funding, so getting a large-ish allocation ought to be an issue only for investors with small accounts. I'd expect anyone willing to put a five-figure sum into PBL020 would have a large SS account, so setting their pre-fund to a very large number ought to result in a large allocation. In fact, they could set their pre-fund in each of today's loans to their whole account value, and even if today's loans are oversubscribed 4x, they'd still get allocations which would increase their total SS investment by 50%. I'd certainly prefer to do that than invest in PBL020.
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jimbob
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Post by jimbob on Jun 3, 2016 13:19:35 GMT
Someone's bought £5k and someone else has bought £1k today.
Perhaps they can spend that PPI payout after all !
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moist
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Post by moist on Jul 15, 2016 18:43:35 GMT
guide price lowered to 1.5.......
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locutus
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Post by locutus on Jul 15, 2016 18:56:19 GMT
guide price lowered to 1.5....... Who's the auctioneer and when is the auction date?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 15, 2016 18:57:01 GMT
guide price lowered to 1.5....... I like the fact you posted that in small font as if to whisper it Getting close to what the initial borrower actually paid for it (£1,475,000)
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 15, 2016 18:57:47 GMT
guide price lowered to 1.5....... Who's the auctioneer and when is the auction date? No auction; it's listed online
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ben
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Post by ben on Jul 15, 2016 19:05:36 GMT
The interest that that they had in it has obviously not come to much then.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 15, 2016 19:10:39 GMT
The interest that that they had in it has obviously not come to much then. I imagine they received some pi** take bids. Gut feeling is this won't sell for much more than 1m. In any case, it looks certain now that the PF is going to take a hit.
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ben
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Post by ben on Jul 15, 2016 19:20:49 GMT
Looks that way hopefully not to much of a hit, hopefully it teach SS to do there DD better as lending quite a bit more then what someone paid for the asset is pretty stupid and then claiming its 70% LTV was fairly obvious was not going to end well.
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tombraider
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Post by tombraider on Jul 15, 2016 21:46:34 GMT
Theres the stock and also the administrators / legal fees to take into account.
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jmr
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Post by jmr on Jul 18, 2016 10:50:17 GMT
15.2k just been sweeped by one investor  |
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jcb208
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Post by jcb208 on Jul 18, 2016 10:52:51 GMT
15.2k just been sweeped by one investor Can't really understand the minds of some people,all the loans on the SM and they pick a defaulted one 
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Although opening my loans and seeing PBL20 does make my heart skip a beat 
