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Post by GSV3MIaC on Mar 2, 2015 15:12:28 GMT
There it was, a short term 12 month property loan, £341,500, at 10% with 1% splashback .. and then it wasn't. Gone. (I was viewing it at the time, and very confused that two of the loan tabs worked, and the others took be back to the auction list - now I know why).
I wonder if it'll come back, and if it is really 10%, or if that was why it got pulled?!
The loan drought is continuing today .. maybe there'll be a whole bunch of sloppy seconds along later, or maybe the WL folks are not rejecting any right now?
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blender
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Post by blender on Mar 2, 2015 15:22:07 GMT
Missed that. Did you notice its risk band?
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Post by GSV3MIaC on Mar 2, 2015 15:38:53 GMT
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blender
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Post by blender on Mar 2, 2015 16:12:27 GMT
Oh I see, it could be, thanks. Your post there could be at risk by naming a competitor as an example to follow. For safety from the mod (who struck out a post recommending TC this morning) it may be an idea not to use the name? They are very touchy over there.
1% cash back would be a surprise.
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coop
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Post by coop on Mar 2, 2015 16:20:05 GMT
It's back: 11233.
No cashback; that must've been the error.
EURGH Retirement homes - I feel like not bidding on principle!
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blender
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Post by blender on Mar 2, 2015 16:23:35 GMT
Yes, they want us to go cold turkey. Sorry, but I was hooked on 2% cash back.
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coop
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Post by coop on Mar 2, 2015 16:30:05 GMT
Another one has gone up A* 12 months 8% 
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Post by GSV3MIaC on Mar 2, 2015 20:12:00 GMT
It's back: 11233. No cashback; that must've been the error. EURGH Retirement homes - I feel like not bidding on principle! Yes, the comments on 11233 say 'cashback inadvertently applied'. Obviously the checking regime still needs some work. 8>. I mis-listed it anyway, I think it was only 0.5% cashback (and then it was none) - I was working from memory, it having evaporated on me. I might bite if there was a little more clarity as to what happens if one of these short term loans isn't repaid on time. 'RBR and whistle for it' doesn't cut it, something more Assetz like (penalty interest and a drop dead date) might liven things up. Still, someone is sure to bite.
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oldgrumpy
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Post by oldgrumpy on Mar 2, 2015 22:14:10 GMT
It's back: 11233. No cashback; that must've been the error. EURGH Retirement homes - I feel like not bidding on principle! Yes, the comments on 11233 say 'cashback inadvertently applied'. Obviously the checking regime still needs some work. 8>. I mis-listed it anyway, I think it was only 0.5% cashback (and then it was none) - I was working from memory, it having evaporated on me.
I might bite if there was a little more clarity as to what happens if one of these short term loans isn't repaid on time. 'RBR and whistle for it' doesn't cut it, something more Assetz like (penalty interest and a drop dead date) might liven things up. Still, someone is sure to bite. Clarity from Fish Cakes? In yer dreams. Here is the reply I got to my question on exactly that: "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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Post by GSV3MIaC on Mar 3, 2015 8:36:10 GMT
It's nice that they know what they are going to do to the borrower ... More or less .. But what I wanna know his what they will do for the lender. In black and white, upfront. Unreasonable? Moi??
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Post by Deleted on Mar 3, 2015 9:10:41 GMT
Back after a week away from FC to see if it has got any better. nah I was thinking about the Gamification aspects of the site. Gamification is the process by which people (aged under 35) are easily attracted to do things if there are scores on the doors (often on the rhs and lhs top of their 3D window (also called eyes to us oldies)). FC are underperforming in this area, but I guess it also hides just how c%%p their present loan stream is. For instance they could put "Number of Auctions" and "Total value of Auctions" in these positions. But they don't. Looking foward to the next newsletter. Still I see that there is still too much money chasing too little demand, that there has been even more deflation of the catagories and the SM has just dried up. Ho hum, luckily the FTSE is as high as an elephant's eye.  |
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Post by GSV3MIaC on Mar 3, 2015 13:22:12 GMT
They do seem to be a bit confused about these here property loans. I see 11267 (A+ 18 months) is out there at 8% with no (zero, nana) cashback, while almost all the others (A+, 8%, various terms) seem to have 0.5% (at least). Even 11277, later, smaller, has a cashback. I wonder if it is finger trouble, or if they really are trying to eliminate the cashback (albeit in a piecemeal and incoherent fashion)
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blender
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Post by blender on Mar 3, 2015 14:36:06 GMT
GSV, I posted a reply to these ideas on the 2% thread before reading this - and why it is not incoherent (assuming no error!).
Bobo - surely the money is the demand? Money is not a good. The loans are the goods and the supply. Money just buys a right to an income stream. Without loans there is nothing to buy. But agreed it is complex and there is room for argument.
PS. Il moro has done something nasty to my previous avatar but I cannot see where forum rules have been broken. I have to show my true form now, rather than blending in through the old avatar.
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adrianc
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Post by adrianc on Mar 3, 2015 16:46:20 GMT
(albeit in a piecemeal and incoherent fashion) That sounds SO unlike our Fashionably Cravatted friends. I cannot, I will not believe it.
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