mikes1531
Member of DD Central
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Post by mikes1531 on Jul 22, 2014 17:45:06 GMT
Is it my imagination or has £400k disappeared from the care home loan in the last 24hrs? It's not your imagination, but it's impossible to tell whether it might have been due to one of the underwriters deciding they were going to keep more of their units than they had intended before. Though I do wonder why they would do that, as it might mean they lose their underwriters bonus on the reclassified units. But then I'm just guessing at how underwriters are compensated.
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Post by chris on Jul 24, 2014 7:25:18 GMT
In the last 4 days we've sold just short of £900k on the aftermarket with £600k in the last two days. Liquidity is there in the loans where there is demand.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on Jul 24, 2014 9:00:50 GMT
Overnight somebody has chomped up a lump of Ha**n*y and Ip***ch on the AM. I lost a decent chunk of both. Struggling to reinvest the cash though. I feel I have enough exposure to most of the other loans on offer (or I have no interest in them). Would be interested in WL C*r* H*m* but skeptical on liquidity. Join the Club!! I thought P2P was about diversity which sadly seems to be missing with AC at the moment. Perhaps the good old summer time blues have set in?
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bigfoot12
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Post by bigfoot12 on Jul 24, 2014 9:27:22 GMT
I can't see why everyone is so down on the after market at the moment. There are 10 propositions available in size, nine of which have good security, and pay interest immediately after purchase. This is much better than my experience with most other platforms. For sure you may already have bought some of them, or not like one or two.
If you want to be sure to sell anything quickly I don't think that you should be on this platform at all.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Jul 24, 2014 11:02:23 GMT
I can't see why everyone is so down on the after market at the moment. There are 10 propositions available in size, nine of which have good security, and pay interest immediately after purchase. This is much better than my experience with most other platforms. For sure you may already have bought some of them, or not like one or two. If you want to be sure to sell anything quickly I don't think that you should be on this platform at all. I have bought into most items FC have had in the last year to a level that I am satisfied with, so the AM has no interest for me. More new and diversified loans are what I am looking for and soon or I may pick up my bat and play elsewhere!
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 24, 2014 11:18:51 GMT
I have bought into most items FC have had in the last year... FC?? Did you mean AC?
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Jul 24, 2014 12:53:51 GMT
Yes Mike AC I meant. Although I still have a few £k in FC - just for old times sake!
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jul 25, 2014 15:03:23 GMT
Huge chunk of some £58k of CC L on AM. Read issues with repayment before you purchase though!!!
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mikes1531
Member of DD Central
Posts: 6,453
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Post by mikes1531 on Jul 25, 2014 15:34:12 GMT
Huge chunk of some £58k of CC L on AM. Read issues with repayment before you purchase though!!! I can't remember whether there had been any units of this loan on the Aftermarket on 28/Jun. That's the date the last payment was due, and any units for sale would have been pulled from the Aftermarket at 0001 on the 29th when the payment was missed. The 28/Jun payment finally was received today, so the units became eligible for the Aftermarket again. (Does anyone know if parts previously for sale automatically re-appear in the Aftermarket as soon as the payment is received, or whether lenders have to re-list any parts they wish to sell?) If anyone is interested in picking up any of the offered units, be aware that the next payment is due on 28/Jul, and that's Monday. ISTM that there's a good chance that payment will be missed and the units will have to be pulled from the Aftermarket again. (If the borrower had the funds to make that payment I'd expect them to have made both payments at once.) Actually, making the previous payment before Monday was a smart move by the borrower, because doing that will have stopped the 'default' interest on the loan for at least ten days. Does the default interest rate apply just to the overdue payment or to the whole loan?
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Jul 25, 2014 15:54:00 GMT
Huge chunk of some £58k of CC L on AM. Read issues with repayment before you purchase though!!! I can't remember whether there had been any units of this loan on the Aftermarket on 28/Jun. That's the date the last payment was due, and any units for sale would have been pulled from the Aftermarket at 0001 on the 29th when the payment was missed. The 28/Jun payment finally was received today, so the units became eligible for the Aftermarket again. (Does anyone know if parts previously for sale automatically re-appear in the Aftermarket as soon as the payment is received, or whether lenders have to re-list any parts they wish to sell?) If anyone is interested in picking up any of the offered units, be aware that the next payment is due on 28/Jul, and that's Monday. ISTM that there's a good chance that payment will be missed and the units will have to be pulled from the Aftermarket again. (If the borrower had the funds to make that payment I'd expect them to have made both payments at once.) Actually, making the previous payment before Monday was a smart move by the borrower, because doing that will have stopped the 'default' interest on the loan for at least ten days. Does the default interest rate apply just to the overdue payment or to the whole loan? Having read the update on the loan page, I think the default rate (3% above loan rate, ie 13%) is payable on the number of days till late payment for that month is made). Feel free to correct if wrong
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mikes1531
Member of DD Central
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Post by mikes1531 on Jul 25, 2014 16:50:52 GMT
Actually, making the previous payment before Monday was a smart move by the borrower, because doing that will have stopped the 'default' interest on the loan for at least ten days. Does the default interest rate apply just to the overdue payment or to the whole loan? Having read the update on the loan page, I think the default rate (3% above loan rate, ie 13%) is payable on the number of days till late payment for that month is made). Feel free to correct if wrong AIUI, the default rate doesn't kick in until a payment is at least seven days late, so by making the payment today the borrower will have stopped that extra 3% for at least until a week from Monday. I presume it's payable on the entire outstanding balance, so saving ten days of interest would be worth nearly £500.
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Post by cyrilmadrid on Jul 26, 2014 7:49:41 GMT
I can't remember whether there had been any units of this loan on the Aftermarket on 28/Jun. That's the date the last payment was due, and any units for sale would have been pulled from the Aftermarket at 0001 on the 29th when the payment was missed. The 28/Jun payment finally was received today, so the units became eligible for the Aftermarket again. (Does anyone know if parts previously for sale automatically re-appear in the Aftermarket as soon as the payment is received, or whether lenders have to re-list any parts they wish to sell?) If anyone is interested in picking up any of the offered units, be aware that the next payment is due on 28/Jul, and that's Monday. ISTM that there's a good chance that payment will be missed and the units will have to be pulled from the Aftermarket again. (If the borrower had the funds to make that payment I'd expect them to have made both payments at once.) Actually, making the previous payment before Monday was a smart move by the borrower, because doing that will have stopped the 'default' interest on the loan for at least ten days. Does the default interest rate apply just to the overdue payment or to the whole loan? Having read the update on the loan page, I think the default rate (3% above loan rate, ie 13%) is payable on the number of days till late payment for that month is made). Feel free to correct if wrong Sold some of mine (reducing exposure after last month's late payment), surprisingly, they were picked very quickly...
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mark
Posts: 163
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Post by mark on Jul 30, 2014 11:47:36 GMT
There are a large range of different loan units on the aftermarket as of 12.45 30/07/14
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jul 30, 2014 12:20:08 GMT
It was good to see some different & older loans listed on AM this afternoon! One was getting bored of seeing the same old loans only for the last few weeks.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 30, 2014 12:31:04 GMT
It even prompted me to increase my holding of the Leeds loan (and those units didn't last long).
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