jonbvn
Member of DD Central
Posts: 326
Likes: 95
|
Post by jonbvn on Mar 10, 2015 21:37:10 GMT
Those bonus interest rates seem a bit desperate to me. I wonder if anyone will be tempted? If I had £25k lying around idle I'd be very tempted by the opportunity to accrue 16% interest, though the 75% LTV is a bit of a concern. It's interesting at 16% but not at 13%. Only problem is I am not willing to risk £25k on any one loan. Simple truth .. do some research......
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 18, 2015 23:10:53 GMT
Is it my imagination, or has the funded amount of Loan 2643671278 decreased today? I would swear that shortly before noon today this loan was 99% funded, with only about £2k remaining. Now, however, it's about £10k short of being fully funded. If I'm not mis-remembering, perhaps we could ask fundingsecure to explain what's happening.
|
|
|
Post by fundingsecure on Mar 18, 2015 23:25:34 GMT
Mike,
This loan had several shadow bids. As a shadow bidder places the funds into their account a "real" bid replaces the shadow bid. Currently this is a manual process, and this happens very quickly, but in this case there was a delay, during which time both "bids" were active.
Apologies for any confusion.
FundingSecure
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 19, 2015 3:34:05 GMT
This loan had several shadow bids. As a shadow bidder places the funds into their account a "real" bid replaces the shadow bid. Currently this is a manual process, and this happens very quickly, but in this case there was a delay, during which time both "bids" were active. Apologies for any confusion. fundingsecure: Thanks for the explanation. In this case there must must have been a rather long overlap period when both the shadow bid and the actual bid were included in the total, because the only bid that could have been a shadow bid was pretty far down the list of bids at the time the loan was nearly fully funded. I wondered whether it might have been caused by a shadow bidder changing their mind and not funding their bid. I'm glad to hear that wasn't the case, and wish you success in getting the remaining £9.4k needed to fully fund the loan in the very few days left before drawdown.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 19, 2015 11:41:50 GMT
£500 diamond ring loan available now.
PS. Not at 13%, though. Only 12%.
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Mar 19, 2015 18:16:57 GMT
The complete dirth of anything other than property at 13% for quite some time (with the exception of the antique books in which I've already got a large enough stake) means I've just withdrawn cash from my FS account - something I hadn't needed to do since Feb 14. When will it be coming back I wonder?
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 19, 2015 19:03:58 GMT
The complete dirth of anything other than property at 13% for quite some time (with the exception of the antique books in which I've already got a large enough stake) means I've just withdrawn cash from my FS account ... Are you avoiding property entirely? Or just at FS? If the latter, which platform(s) do you prefer?
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Mar 19, 2015 19:14:51 GMT
The complete dirth of anything other than property at 13% for quite some time (with the exception of the antique books in which I've already got a large enough stake) means I've just withdrawn cash from my FS account ... Are you avoiding property entirely? Or just at FS? If the latter, which platform(s) do you prefer? Just at FS, because I want to wait and see how they handle the bridging loan overruns that will happen, and what will happen if they find themselves with the sort of slippery borrowers that seem to come along with them. Also because there's no SM to get out of them if they drag on and no promise of any default interest rates in the mean time. For property I lend through AC and SS mainly; AC because of the default interest (although it's by no means guaranteed if things don't end well) and the SM; SS because of the simplicity and no-nonsense handling of things and the SM.
|
|
bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
|
Post by bugs4me on Mar 19, 2015 22:47:44 GMT
Are you avoiding property entirely? Or just at FS? If the latter, which platform(s) do you prefer? Just at FS, because I want to wait and see how they handle the bridging loan overruns that will happen, and what will happen if they find themselves with the sort of slippery borrowers that seem to come along with them. Also because there's no SM to get out of them if they drag on and no promise of any default interest rates in the mean time. For property I lend through AC and SS mainly; AC because of the default interest (although it's by no means guaranteed if things don't end well) and the SM; SS because of the simplicity and no-nonsense handling of things and the SM. It's that SM issue again and it wouldn't surprise me if that was acting as a deterrent. Up until recently FS seemed to have little problem in funding all the loans on offer albeit with the occasional extra percentage point here and there to act as an incentive. In my book though, if a loan is not within my personal risk acceptance level another 1 or 2 percent doesn't alter that assessment. With PBL's I expect they will just go on the listings again - at least that's what happened with other items that have hovered on default. At times of famine though I would have thought that many potential lenders would have welcomed the opportunity to purchase units that another lender wished to cash in. So both AC and SS seem to hold the advantage on this front. Now is it my imagination or not, but it appears that loans are not filling as fast as they used to. Certainly this doesn't apply to the £500 one today but the others seem to be struggling albeit they normally manage to get to the magic 100% eventually. I wonder if the appetite for them is slowly going.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 20, 2015 11:06:37 GMT
Now is it my imagination or not, but it appears that loans are not filling as fast as they used to. Certainly this doesn't apply to the £500 one today but the others seem to be struggling albeit they normally manage to get to the magic 100% eventually. I wonder if the appetite for them is slowly going. My own guess is that FS have brought so many loans forward so quickly in recent weeks that they've saturated their lenders' demand. Another factor could be that many recent/current loans are further tranches of previous loans. In my case, I invested an amount I was comfortable with in an earlier tranche and I'm not really wanting to increase my exposure to that borrower, so my interest in the later tranches is probably just a token £25. I expect others may be reacting similarly, so that later tranches become harder to fill.
|
|
mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
|
Post by mikes1531 on Mar 25, 2015 16:08:13 GMT
New £2k loan has appeared sometime today. It's 90% filled, but there's still room for about another ten £25 bids.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Mar 25, 2015 16:20:08 GMT
Aston Martin DB7 tomorrow 14:00 GMT.
£15K on £27K value, max £250 for 24hrs, 11%.
|
|
merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
|
Post by merlin on Mar 25, 2015 17:28:36 GMT
Now is it my imagination or not, but it appears that loans are not filling as fast as they used to. Certainly this doesn't apply to the £500 one today but the others seem to be struggling albeit they normally manage to get to the magic 100% eventually. I wonder if the appetite for them is slowly going. My own guess is that FS have brought so many loans forward so quickly in recent weeks that they've saturated their lenders' demand. Another factor could be that many recent/current loans are further tranches of previous loans. In my case, I invested an amount I was comfortable with in an earlier tranche and I'm not really wanting to increase my exposure to that borrower, so my interest in the later tranches is probably just a token £25. I expect others may be reacting similarly, so that later tranches become harder to fill. Snap!
|
|
bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
|
Post by bugs4me on Mar 25, 2015 19:00:07 GMT
Now is it my imagination or not, but it appears that loans are not filling as fast as they used to. Certainly this doesn't apply to the £500 one today but the others seem to be struggling albeit they normally manage to get to the magic 100% eventually. I wonder if the appetite for them is slowly going. My own guess is that FS have brought so many loans forward so quickly in recent weeks that they've saturated their lenders' demand. Another factor could be that many recent/current loans are further tranches of previous loans. In my case, I invested an amount I was comfortable with in an earlier tranche and I'm not really wanting to increase my exposure to that borrower, so my interest in the later tranches is probably just a token £25. I expect others may be reacting similarly, so that later tranches become harder to fill. That sounds like a reasonable assessment. I'm already involved in more than a couple of earlier loans and haven't subscribed to any subsequent tranches. Prefer to see settlement of the first one before committing further to those goods/items.
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Mar 26, 2015 15:04:34 GMT
Aston Martin DB7 tomorrow 14:00 GMT. £15K on £27K value, max £250 for 24hrs, 11%. Went on line 13:58, already 78% gone, so FS started well before the 14:00 starting time they put in their e-mail. So, what time do they actually open the list? Are they on European time? PS Hey, jonno , what time did you get your slice?
|
|