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Post by GSV3MIaC on Apr 2, 2015 15:51:14 GMT
Hmm, maybe the whole loan folks went on vacation for Easter early?? .. there are 24 new loans today so far, and, looking at the numbers, 12046 to 1265 have far fewer than usual 'eaten before you saw them' gaps in!?
May have to stick a finger into the FC funds leak for a few hours (although Easter still looms, and this glut could easily all fall down to sub-interesting quite quickly .. there are several £10k 'fluff' loans in there).
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mikeb
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Post by mikeb on Apr 2, 2015 17:54:00 GMT
2% CB again being offered with 12035, which makes 12033 look pretty mean! But trying to bid on it gives a 'Bad Gateway'! So did bidding on everything, this morning. Clear your cookies. Suddenly works again ... 
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min
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Post by min on Apr 2, 2015 19:19:23 GMT
But trying to bid on it gives a 'Bad Gateway'! So did bidding on everything, this morning. Clear your cookies. Suddenly works again ... It was the requirement to agree to new T&C. On iPad it worked.
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fasty
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Post by fasty on Apr 2, 2015 20:50:55 GMT
Too good to be true? Well the purse is to be fully unzipped and shaken. APR is like 12% for an income tax payer, more on higher rate. Yes, 12052 looks at first glance like a nice gift from the Easter Bunny. Even better if they repay early. I suppose the only snag is that one is likely to be obliged to hang on to these final parts until Monstrous Maisonettes I, II, III, IV, V etc are obliged to actually cough up the dough. Or, being a relatively small loan tranche, might it sell on SM more easily? Not sure.
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blender
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Post by blender on Apr 2, 2015 20:57:43 GMT
I think you are right about the snag fasty and I am now holding quite a lot of property loans which I expect to have to hold to term. I doubt this one will sell except at a high discount. But interest will continue after the term if needed, though I imagine it would go RBR.
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coop
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Post by coop on Apr 2, 2015 21:19:24 GMT
Wow 11% apr after fees to hold to term (presuming it doesnt overrun), thatreally is fill yer boots time!
I had to make a deposit (!)
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adrianc
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Post by adrianc on Apr 3, 2015 7:27:24 GMT
thatreally is fill yer boots time! Full and closed already...
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SteveT
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Post by SteveT on Apr 3, 2015 10:02:10 GMT
I've just had a £40 "Putney Cellars" loan part sell at par on the SM, with best part of 18 months still to run, when "Newquay Eco-lodges" can be had at an identical 8% plus the considerable bonus of 2%CB on the PM, scheduled to pay back in just 13 months and with a better LTV. The idiocy of Autobid (for surely it can only be ...?) never fails to amaze me.
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am
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Post by am on Apr 3, 2015 11:31:41 GMT
It doesn't have to be autobid. It could be a new entrant building a diversified portfolio. (In which case one would expect that they're buying both Putney and Newquay.) If however discounted parts are available on Putney, then we can have fair confidence that it's autobid.
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SteveT
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Post by SteveT on Apr 3, 2015 11:57:16 GMT
There are roughly 300 discounted loan parts on the SM for Putney (11738), starting as low as -1.1% !
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blender
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Post by blender on Apr 3, 2015 12:21:01 GMT
I've just had a £40 "Putney Cellars" loan part sell at par on the SM, with best part of 18 months still to run, when "Newquay Eco-lodges" can be had at an identical 8% plus the considerable bonus of 2%CB on the PM, scheduled to pay back in just 13 months and with a better LTV. The idiocy of Autobid (for surely it can only be ...?) never fails to amaze me. I am having to discount my 8834 Newquay quite heavily to raise (overspent) cash from manual purchasers, though still well less than 1%. It could be because the deal purchasing new parts with 2% cash back is over 1% better. I suppose 8834 is first in the queue for repayment in 2016, and therefore a bit safer. 'You pays your money and you takes your choice.'
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blender
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Post by blender on Apr 7, 2015 8:57:30 GMT
Have over-indulged during Easter on too much choc-back. Feeling bloated. Going to need to sleep and fast for the rest of the week.
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coop
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Post by coop on Apr 7, 2015 9:15:26 GMT
Yup, me too, here's hoping for quick drawdowns!
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oldgrumpy
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Post by oldgrumpy on Apr 7, 2015 9:19:53 GMT
Yup, me too, here's hoping for quick drawdowns! I had my face slapped over the weekend for that kind of behaviour 
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SteveT
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Post by SteveT on Apr 7, 2015 13:34:39 GMT
More Frankly Confused market testing underway today: two A-rated £400k loans, each roughly 1 year term. 12087 (6th tranche, 11 months, 75% LTV) at 9% + 1%CB, 12078 (2nd tranche, 12 months, 64% LTV) at 10% with no CB. Neither is attractive enough to tempt me (especially after last week's Easter gift) but I reckon they'll have more luck filling 12078 than 12087.
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