andy2001
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Post by andy2001 on Mar 13, 2014 21:10:32 GMT
Some units on the 40%ltv boiler loan up for sale.
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mikes1531
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Post by mikes1531 on Mar 13, 2014 21:45:00 GMT
Some units on the 40%ltv boiler loan up for sale. No sign of them now!
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mikes1531
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Post by mikes1531 on Mar 13, 2014 22:04:13 GMT
The two biggies did require a fair chunk of underwriting to get them to fly so wouldn't expect them to be removed any day soon. They could be sitting there for a while being gently nibbled at I think these two will have units available on AM in six months' time when they eventually repay in full. Many have been picked up with much more still available.I've bought some & doubt I'll even be able to sell them back if I need to free some capital before the 6 months are up! The lenders frequenting this forum are aware of this potential problem, and seem to want to help. When they're looking to buy some loan parts, they do this by not letting the system automatically select the loan parts to be purchased. Instead, they look at the last page of the listing of available parts. Because the parts are listed in the time order they were offered for sale, recently offered parts are at the end of the list. So if a small lender recently has offered some parts, that's where we'll find them and we can choose to buy those to help the 'little guys' out. I think this is working, because there used to be a number of Hackney parts for sale by non-underwriters, and now I see just four. This also means that any lender offering units should check periodically to see that they're still at the end of the list.
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j
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Post by j on Mar 14, 2014 8:13:58 GMT
boiler man units on AM!
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j
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Post by j on Mar 14, 2014 9:12:28 GMT
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Post by Ton ⓉⓞⓃ on Mar 14, 2014 10:42:19 GMT
I think these two will have units available on AM in six months' time when they eventually repay in full. Many have been picked up with much more still available.I've bought some & doubt I'll even be able to sell them back if I need to free some capital before the 6 months are up! The lenders frequenting this forum are aware of this potential problem, and seem to want to help. When they're looking to buy some loan parts, they do this by not letting the system automatically select the loan parts to be purchased. Instead, they look at the last page of the listing of available parts. Because the parts are listed in the time order they were offered for sale, recently offered parts are at the end of the list. So if a small lender recently has offered some parts, that's where we'll find them and we can choose to buy those to help the 'little guys' out. I think this is working, because there used to be a number of Hackney parts for sale by non-underwriters, and now I see just four. This also means that any lender offering units should check periodically to see that they're still at the end of the list. You said Four it's now down to Three in 12 hours since that post was written. IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt.
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j
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Penguins are very misunderstood!
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Post by j on Mar 14, 2014 16:17:14 GMT
You said Four it's now down to Three in 12 hours since that post was written. IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt. don't quote me on this but my understanding is that you earn interest from the day you buy a unit, so if you bought today, you start earning from today. If payment due today still hasn't been processed, my guess is you probably might get the interest for today onwards as opposed to from tomorrow. I wonder if chris might be able to clarify/confirm.
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mikes1531
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Post by mikes1531 on Mar 14, 2014 16:54:25 GMT
The lenders frequenting this forum are aware of this potential problem, and seem to want to help. When they're looking to buy some loan parts, they do this by not letting the system automatically select the loan parts to be purchased. Instead, they look at the last page of the listing of available parts. Because the parts are listed in the time order they were offered for sale, recently offered parts are at the end of the list. So if a small lender recently has offered some parts, that's where we'll find them and we can choose to buy those to help the 'little guys' out. I think this is working, because there used to be a number of Hackney parts for sale by non-underwriters, and now I see just four. This also means that any lender offering units should check periodically to see that they're still at the end of the list. You said Four it's now down to Three in 12 hours since that post was written. IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt. There are no longer any non-underwriter loan parts at the end of the list. When a payment is posted, it seems to arrive in my account and on my statement on the same date that it shows on the loan's Repayments tab. Payments don't always arrive on the due date, though. Sometimes they're a bit early, and sometimes they're a bit late. I had one of the latter this week. The So*** Man******* loan payment was due on the 11th and received on the 12th. The odd thing about that one was that -- according to the loan decsription -- "6 months interest retained at drawdown". So AC should have had the money readily available on the due date, and it's hard to explain how the payment could have been late in the circumstances. Which brings up an interesting point... Before deciding to wait to see if a loan's next payment is made on time before buying loan parts on the Aftermarket, it's necessary to check to see whether or not the interest was retained at drawdown. If it was, then the fact that the payment arrives on time -- or doesn't -- says nothing about the borrower.
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andy2001
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Post by andy2001 on Mar 14, 2014 18:11:36 GMT
Looks like someone either just bought a large chunk of Hack** or the underwriters pulled some of there parts. Will be able to find out after the update at about midnight.
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mikes1531
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Post by mikes1531 on Mar 14, 2014 18:37:16 GMT
Looks like someone either just bought a large chunk of Hack** or the underwriters pulled some of there parts. Will be able to find out after the update at about midnight. I haven't been watching carefully enough to be sure, but it looks like a chunk of Ips**** also has disappeared from the Aftermarket. (The amount available is below £500k now.) With respect to Hack***, in case anyone is interested, I see that there are some parts available that are smaller than £100.
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mikes1531
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Post by mikes1531 on Mar 14, 2014 20:45:21 GMT
IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt. When a payment is posted, it seems to arrive in my account and on my statement on the same date that it shows on the loan's Repayments tab. Payments don't always arrive on the due date, though. Sometimes they're a bit early, and sometimes they're a bit late. The Hackney Repayments tab now is showing the payment was made today, and my interest payment was credited at 1800.
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Post by Ton ⓉⓞⓃ on Mar 15, 2014 0:03:45 GMT
You said Four it's now down to Three in 12 hours since that post was written. IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt. don't quote me on this but my understanding is that you earn interest from the day you buy a unit, so if you bought today, you start earning from today. If payment due today still hasn't been processed, my guess is you probably might get the interest for today onwards as opposed to from tomorrow. I wonder if chris might be able to clarify/confirm. Thanks for the answer. I guess I'm really asking about the mechanics of what happens. As in this case the interest is retained it should be a text-book case and as MikeS is saying it paid out at 18.00 into his a/c. With Zopa it can take several days for the repayments to hit Lenders a/c's simply because they have millions of payments happening at the same time. mikes1531 Avatar Posts: 447Male 13 hours ago ton said: mikes1531 Avatar yesterday at 10:04pm mikes1531 said: The lenders frequenting this forum are aware of this potential problem, and seem to want to help. When they're looking to buy some loan parts, they do this by not letting the system automatically select the loan parts to be purchased. Instead, they look at the last page of the listing of available parts. Because the parts are listed in the time order they were offered for sale, recently offered parts are at the end of the list. So if a small lender recently has offered some parts, that's where we'll find them and we can choose to buy those to help the 'little guys' out. I think this is working, because there used to be a number of Hackney parts for sale by non-underwriters, and now I see just four. This also means that any lender offering units should check periodically to see that they're still at the end of the list. You said Four it's now down to Three in 12 hours since that post was written. IN EDIT, I'm looking to buy 'Ackney but I'm waiting for their first payment to be applied to the system. Does anyone know how this works. The first payment is due today, will it appear on the system today and then in peoples accounts tomorrow. Assuming all goes well, of which I have no doubt. There are no longer any non-underwriter loan parts at the end of the list. When a payment is posted, it seems to arrive in my account and on my statement on the same date that it shows on the loan's Repayments tab. Payments don't always arrive on the due date, though. Sometimes they're a bit early, and sometimes they're a bit late. I had one of the latter this week. The So*** Man******* loan payment was due on the 11th and received on the 12th. The odd thing about that one was that -- according to the loan decsription -- "6 months interest retained at drawdown". So AC should have had the money readily available on the due date, and it's hard to explain how the payment could have been late in the circumstances. Which brings up an interesting point... Before deciding to wait to see if a loan's next payment is made on time before buying loan parts on the Aftermarket, it's necessary to check to see whether or not the interest was retained at drawdown. If it was, then the fact that the payment arrives on time -- or doesn't -- says nothing about the borrower. Thanks for the reminder that this is retained interest. I'm was asking about interest payments as I'm trying to avoid any payments for this Tax year. Indeed when 'Ackney paid out I didn't get any, I bought them this afternoon. About the order of loan parts in the AM. It was said that they list in the order that they were put on the market. I realize now that it can't simply be that as clearly there's a of shuffling the units. One Lender on here seems to have put units up at the same time (they implied as much) yet they appear in discreet groups throughout the AM some at the beginning some in the middle and others at the end. It's possible that they start off being listed at the end but Chis said the AM system needs to be fair (to us and the U/Wers). Certainly when you use the slider it appears to pick units from different places not simply from the front of the queue. Of course Chris may've changed the code after the subject came up. I did wonder if the Queue was more like a wheel which stopped at different points, the person at the end is also at the beginning. It's not important right just nice to know for future use. With Loan 51 I can see Jan's payment was postponed til Monday the normal day being a Saturday. But why March in the middle of the week would be late must remain a mystery of AC.
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andy2001
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Post by andy2001 on Mar 15, 2014 0:04:27 GMT
Looks like someone either just bought a large chunk of Hack** or the underwriters pulled some of there parts. Will be able to find out after the update at about midnight. Only a small rise in user held parts, so there was no big sale.
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Post by pepperpot on Mar 15, 2014 0:49:29 GMT
Might be reserved as per the recent email offer. Or is there a time out so that they automatically get pulled from sale after a month?
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andy2001
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Post by andy2001 on Mar 15, 2014 1:50:24 GMT
Might be reserved as per the recent email offer. Or is there a time out so that they automatically get pulled from sale after a month? Well the first payment was due today. And was made on time. I on occasion I've been unable to sell a loan part because it was a day or 2 late. This was not late, but may still have been something to do with it being payment day.
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