coop
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Post by coop on Feb 26, 2015 18:13:29 GMT
I sold I think 8 or 9 8% £20 loan parts to the same person about an hour after I listed them.
Will screenshot it tomorrow if it interests anyone to have a look.
Seems far from random, ill try to delist and re list a bunch tomorrow to try and see if anything happens, but I've been having some problems listing on sm revently.
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blender
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Post by blender on Feb 26, 2015 18:51:24 GMT
My rule is to buy only those property loans which I am prepared to hold to term, if necessary. That's why I have bought nothing recently. This one is OK.
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sl75
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Post by sl75 on Feb 27, 2015 0:50:33 GMT
Will Autobid buy 11166 parts on the SM at par? Almost all autobid users will already have exposure to this borrower, and there will remain huge numbers of loan parts on the market from all tranches (of which any new autobid users should take only one), so although in theory this is a "yes", for all practical purposes it might as well be "no". However, I'd expect there to be strong demand for loan parts listed at a discount around 1%... which is still a lot less than the splashback!
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Post by GSV3MIaC on Feb 27, 2015 8:30:56 GMT
The general opinion is, unless they fixed it, it will only buy a loan once. If the part was not large enough, or you put another million into your account, it does not 'top up'.
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maxmarengo
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Post by maxmarengo on Feb 27, 2015 14:00:34 GMT
I am interested in whether the delist/relist process helps to speed up sales. I think I will run a test when the new 2% cashback loan comes in.
There may be no advantage for autobidders or in the order parts are listed when a particular loan is selected. There will, however, definitely be an advantage in putting your part in front of buyers if they are looking at a recently listed parts screen.
So the plan with this loan is:
- half the parts put up for sale and relisted every 2 weeks
- the other half listed and relisted every 2 days.
Will let you know if there is any obvious difference!
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Post by goldservice on Feb 28, 2015 7:32:53 GMT
What discount will you give? (tongue half in cheek)
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blender
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Post by blender on Feb 28, 2015 10:26:52 GMT
You should give the same discount on both loan parts, or the results will not be statistically valid (tongue firmly inserted).
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Post by goldservice on Feb 28, 2015 13:33:24 GMT
My tongue was only half way in because if I know the discount that max will use, then I could undercut him and earn an extra 0.1p ...
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chrisf
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Post by chrisf on Feb 28, 2015 13:47:19 GMT
My tongue was only half way in because if I know the discount that max will use, then I could undercut him and earn an extra 0.1p ... If you undercut him wouldn't you earn 0.1p less?
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blender
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Post by blender on Feb 28, 2015 15:19:41 GMT
Perhaps Goldservice thinks he knows what discount Max will use but is not sure and therefore is planning to give an extra 0.1% discount, more that he wished, just to be more sure about undercutting Max. If, however, he can cunningly induce Max into stating his discount plan (honestly), and assuming that Goldservice had correctly guessed what it would be, then Goldservice will be able to discount 0.1% more than Max but also 0.1% less than he (Goldservice) originally planned, and would therefore earn 0.1% more than he would have done, had Max not disclosed his intentions.
Simple! FC is such fun.
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Post by goldservice on Feb 28, 2015 16:50:56 GMT
I should never have shown my hand - not even half of it.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 22:16:36 GMT
Default interest?? I'm not aware of any being paid to date, and haven't ever seen reference to it. There are a couple in RBR status that I know of (don't have any myself) - Harrogate 7419/6762. It might plush out the Christmas buffet (would Sir care for an extra banana vol-au-vent). I have sent them a question to clarify their policy. The auto acknowlegement appeared in my inbox after about 0.04628 seconds!!  PS banana vol-u-vent? Huh! I'm aleady accused of being too vol-au something (and it isn't as polite as vent!)  Here is the answer to my question: "If repayment is delayed past expiry date, we will charge the borrower a 'penalty' interest rate. The rate itself will be determined by the severity of the delay and overall risk profile of the project at the time. A decision to subsidize existing lenders in the scheme in addition to their agreed lending rate will also be taken at the time.
That being said, we do allow a good measure of timing contingency in all our property loans to try and mitigate such a position."
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 2, 2015 23:08:52 GMT
I have sent them a question to clarify their policy. The auto acknowlegement appeared in my inbox after about 0.04628 seconds!! PS banana vol-u-vent? Huh! I'm aleady accused of being too vol-au something (and it isn't as polite as vent!) Here is the answer to my question: "If repayment is delayed past expiry date, we will charge the borrower a 'penalty' interest rate. The rate itself will be determined by the severity of the delay and overall risk profile of the project at the time. A decision to subsidize existing lenders in the scheme in addition to their agreed lending rate will also be taken at the time.
That being said, we do allow a good measure of timing contingency in all our property loans to try and mitigate such a position." Thats a slightly better answer than I got when I asked about default interest on a loan that was a year late on its repayment. At least, they might consider something for lenders as opposed to the flat no chance I got.
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coop
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Post by coop on Mar 3, 2015 10:24:40 GMT
My parts are up for sale already - along with about 86 others!
The long wait begins....
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Post by davee39 on Mar 3, 2015 11:48:24 GMT
And discounted down to 1.2%
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