ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 21, 2017 12:09:00 GMT
The Hull Loan at midday was very juicy, so juicy in fact that it went in less than 5 seconds.
I was poised and ready and still got zilch, time for a new Quantum Lightning Atomic PC methinks, or do some study on Bots or such.
Wonder why FS didn't impose a Bid Limit, it was patently obvious that this one was gonna fly.
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elliotn
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Post by elliotn on Feb 21, 2017 14:49:36 GMT
Hull was my first primary market purchase.
Except there was no purchase & the four figures were winging there way back by 12.01!
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elliotn
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Post by elliotn on Feb 21, 2017 14:55:09 GMT
Over 1/3 of it went here: g***2 - £10,000.00
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 21, 2017 15:06:13 GMT
I have emailed FS and asked why this So Obvious Loan didn't have a Bid Restriction in fairness to All.
Also, without a Street or even District address it was of course impossible to do comparables. I accept the LTV was so low as to negate this but I still like to have a looksee and check wassup.
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elliotn
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Post by elliotn on Feb 21, 2017 16:03:06 GMT
Me too. Very surprised not to get a bit when actually logged on on the dot. Was so p*ss*d off that I just withdrew the money and then missed the car! Double whacked. Ditto!
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 21, 2017 16:06:44 GMT
I wasn't bothered about the racing car, I decided against it, but I am very annoyed about Hull, especially when some whale hoovered up £10K of it.
tbh if FS is going to allow this I'm surprised some Big Hitter didn't just buy The Lot in one fell swoop.
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ashtondav
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Post by ashtondav on Feb 21, 2017 16:18:57 GMT
Yep, i was clicking available investments from 11:59. The time it took to re-set it was all gone.  Couldn't resist the car - it looks so swooney cool:-* |
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madpierre
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Post by madpierre on Feb 21, 2017 16:39:53 GMT
I will be interested to see what FS reply to ozboy's question. I also missed out as I am sure did many big hitters, although I then used some of this for the car, which I wasn't so bothered about. Perhaps this was FS's ploy all along  I did fund last week's racing car and assume this is the same owner/borrower, so we'd better watch this chap if he continues to borrow on more vehicles - or Race Cars might become the new Railway Signs  |
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Feb 21, 2017 17:02:56 GMT
Re Hull - "Oversight, human error." So shouldn't happen again. I recall the Racing Car particulars confirmed it was the same geezer as the previous RC, and yerright, hopefully the FS site won't become awash with RC Loans!  |
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sirius
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Post by sirius on Feb 21, 2017 17:12:03 GMT
B******* C***** L********
"We will be posting a loan on 22 February at 11am for £26,000.
This loan is secured by a first charge over a mixed use property in Liverpool valued at £800,000.
This loan falls behind previous loans issued for £420,000 under loan ref 3078439367, £20,000 under loan ref 1336137316 and £35,000 under loan ref 2558710189
Combined lending is £501,000 giving an LTV of 62%
The loan is offering interest to investors of 14% p.a.
There will be no bid restrictions on this loan".
So, is it a first charge, or does it fall behind previous loans?
My guess is the latter. What do you say FS?
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ben
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Post by ben on Feb 21, 2017 17:25:35 GMT
FS hold the first charge for the whole loan but they seperate tranches so some have priority over others, I personally class it as a 2nd charge when doing my DD, although it is slightly better then a normal 2nd charge as FS hold the full amount, but not enought to make much difference for me.
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elliotn
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Post by elliotn on Feb 22, 2017 1:07:59 GMT
4th charge in default pecking order, hence 14%, but without the complications of another lender holding any charge.
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SteveT
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Post by SteveT on Feb 22, 2017 15:22:39 GMT
A word of caution over "6322680601 - Development Site, Liverpool - Renewal". I couldn't find any indication on the Liverpool planning portal that the application said in the loan description to "have been submitted" actually has, despite the updates to the original loan stating it was ready for submission last July. It turns out that FS don't yet know for certain that it has indeed been submitted, but the Loan Owner is now "chasing for verification"...
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r00lish67
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Post by r00lish67 on Feb 23, 2017 12:09:13 GMT
Well, a full 90 seconds of bidding for 2600142740 B***. Not quite as bad as yesterday's FFF but certainly not 'after I've made a cup of tea either', eh?
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madpierre
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Post by madpierre on Feb 23, 2017 12:13:07 GMT
Re Hull - "Oversight, human error." So shouldn't happen again. The human didn't learn from the error and the same happened to the very next decent loan - Bury, which lasted about a minute. I was there watching and could easily have taken a bite but unsurprisingly FS had not got round to crediting the funds I deposited an hour earlier. Human error perhaps
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