SteveT
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Post by SteveT on May 7, 2015 17:19:05 GMT
Yet another chunky £450k property loan (12740) just listed at 8% + 2%CB. This is a first tranche too; if the larger first tranches now merit 2%CB, what will 2nd / 3rd / 4th tranches be propped up with?
I'll be watching the current flurry of property loans with interest (from the sidelines) to see where Foggy Crossroads turn next when the first fails to fill. 12658 looks a likely candidate.
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registerme
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Post by registerme on May 7, 2015 17:39:19 GMT
Yet another chunky £450k property loan (12740) just listed at 8% + 2%CB. Unfortunately named company mind.
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fasty
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Post by fasty on May 8, 2015 11:02:39 GMT
OK, so I've got funds topped up and the crystal ball polished, gazing deeply into it in eager anticipation of what Frolicking Chimps might release at (say) around 4pm this afternoon. Anyone for a guess? Are we all propertied-out this week or could there be more? When will we see the first 2.5% cashback?
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SteveT
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Post by SteveT on May 8, 2015 16:33:05 GMT
Today's tactic appears to be posting next to no new loans today, presumably to push funds into the various unfilled property loans over the weekend.
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Post by GSV3MIaC on May 8, 2015 16:37:31 GMT
Maybe the whole loan folks woke up again, following the election etc, having decided not to head for the Cayman Islands after all? We won't know for a week or so.. But yep, we have gone from boom to bust again, with non-property loan listings.
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agent69
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Post by agent69 on May 8, 2015 16:46:05 GMT
we have gone from boom to bust again, There was a boom? Can't have been paying attention again
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Post by GSV3MIaC on May 8, 2015 17:01:18 GMT
Well, for some value of 'boom' which equates to 20+ loans being listed in a day, and not all of them tiddlers or property loans.. yes, you missed it (last week). This didn't necessarily translate into wonderful closing rates, although there were a few (£150k+) auctions which got to the end and were still halfway attractive.
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min
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Post by min on May 11, 2015 15:14:08 GMT
12783 is an 'A' property loan. No CB but 11%!
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sl75
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Post by sl75 on May 11, 2015 17:25:21 GMT
12783 is an 'A' property loan. No CB but 11%! We got 12% last time (12170 and 12149)...
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adrianc
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Post by adrianc on May 11, 2015 17:54:10 GMT
12796 - 6mo 10% A+
Am I greedy to bemoan no CB, though...?
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fasty
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Post by fasty on May 12, 2015 22:29:41 GMT
12783 is an 'A' property loan. No CB but 11%! Do FC have the capability to edit the business profile and investor report without actually pulling this one? Someone should have read section 20 of the Architects Act 1997. Having slogged through multiple levels of qualification, architects can get understandably protective of their title. I wish my job as "engineer" was controlled in such a way in the UK! And if it does go ahead, might the second tranche have a sniff of splashback?
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blender
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Post by blender on May 13, 2015 9:00:16 GMT
12707 has nine hours to go and needs 14% of 430k. Strange to see a first tranche with 2% cash back struggling - but it is the 24 months term compared with better 2% offers and higher rates also on the board. There are no very large lenders in 12707, who would try to close it. FC are testing the capacity at 2% - and they found mine last week. They need new ways of growing the volume of property.
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SteveT
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Post by SteveT on May 13, 2015 9:08:15 GMT
12707 has nine hours to go and needs 14% of 430k. Strange to see a first tranche with 2% cash back struggling - but it is the 24 months term compared with better 2% offers and higher rates also on the board. There are no very large lenders in 12707, who would try to close it. FC are testing the capacity at 2% - and they found mine last week. They need new ways of growing the volume of property. Yes, I was wondering too if 12707 could be the first 8% + 2%CB loan to fall short. As a first tranche, unless Faintly Crestfallen want to break the bank by going beyond 2%CB, my guess it would be a conversation with the borrower about accepting 8.5% (which would still need heavy CB support, especially on later tranches)
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sl75
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Post by sl75 on May 13, 2015 9:28:29 GMT
12707 has nine hours to go and needs 14% of 430k. Strange to see a first tranche with 2% cash back struggling - but it is the 24 months term compared with better 2% offers and higher rates also on the board. There are no very large lenders in 12707, who would try to close it. FC are testing the capacity at 2% - and they found mine last week. They need new ways of growing the volume of property. Yes, I was wondering too if 12707 could be the first 8% + 2%CB loan to fall short. As a first tranche, unless Faintly Crestfallen want to break the bank by going beyond 2%CB, my guess it would be a conversation with the borrower about accepting 8.5% (which would still need heavy CB support, especially on later tranches) Although 12707 ends today, it still has more than a dozen other biddable loans ending in front of it, including one other large loan with high rates exposed. I'd personally expect bidding to pick up on 12707 once 12683 has ended (an A+ with rates in excess of 10.5% still exposed) - the money that's knocked out of that in the final couple of hours will be looking for somewhere else to go...
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blender
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Post by blender on May 13, 2015 10:51:57 GMT
Yes 12683 does look attractive, but with 9 mins to go it does not look like there is too much spare cash chasing it, nor much spare cash on the board. I am not sure the unlucky will turn to 12707, but I hope it fills. Those of us with our cash lent out our not wishing to see better deals too soon - and those better deals are only any use if demand (for loan parts) is elastic, which it seems not very. There should be some property repayments starting soon, which should help.
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