SteveT
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Post by SteveT on May 13, 2015 13:29:15 GMT
12707 still needs £45k to fill. Just 4 hrs 20 mins to go...
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SteveT
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Post by SteveT on May 13, 2015 13:52:58 GMT
This one's more like it: 12832, A+ loan, 8% + 2%CB, 8 months term (final £154k tranche of 3)
... and looks to be filling rather faster than others: 42% 63% full already in under an hour!
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fasty
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Post by fasty on May 13, 2015 15:27:32 GMT
This one's more like it: 12832, A+ loan, 8% + 2%CB, 8 months term (final £154k tranche of 3) ... and looks to be filling rather faster than others: 42% 63% full already in under an hour! Final and Last call now before it closes...
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SteveT
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Post by SteveT on May 13, 2015 15:29:15 GMT
This one's more like it: 12832, A+ loan, 8% + 2%CB, 8 months term (final £154k tranche of 3) ... and looks to be filling rather faster than others: 42% 63% full already in under an hour! Final and Last call now before it closes... Too late. All gone now
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SteveT
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Post by SteveT on May 13, 2015 15:41:33 GMT
You have to wonder at the logic of Fruit Crumbles listing 12832 with 2%CB just 4 hours before they're trying to get the very much larger 12707 over the line. The fact it filled inside 2 hours suggests they could have limited themselves to 1%CB on that one (given its size and the fact the first 2 tranches were about 6 months ago) and steered some of this afternoon's cash into 12707 instead. Hey ho.
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sl75
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Post by sl75 on May 13, 2015 15:52:42 GMT
Given the speed that cash was made available for bidding on 12783, it seems more than possible for 12707 to fill.
If it doesn't, do we assume this is because bidders actively disliked it, or simply that there was a self-fulfilling prophecy along the lines of "it doesn't look like it'll fill, so I'll not waste my time bidding"?
As the only remaining viable opportunity for getting 2% CB with "today's" money (and for its final hour it'll be the only one of "today's" loans left), I don't personally see much to lose by throwing and spare cash at it - if it fills I'll get 2% CB, and if it doesn't I'll have my money returned and be able use it to place bids on "tomorrow's" loans or on another CB loan.
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SteveT
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Post by SteveT on May 13, 2015 15:57:57 GMT
Given the speed that cash was made available for bidding on 12783, it seems more than possible for 12707 to fill. If it doesn't, do we assume this is because bidders actively disliked it, or simply that there was a self-fulfilling prophecy along the lines of "it doesn't look like it'll fill, so I'll not waste my time bidding"? As the only remaining viable opportunity for getting 2% CB with "today's" money (and for its final hour it'll be the only one of "today's" loans left), I don't personally see much to lose by throwing and spare cash at it - if it fills I'll get 2% CB, and if it doesn't I'll have my money returned and be able use it to place bids on "tomorrow's" loans or on another CB loan. The obvious downside is that your money is tied up for 24 months unless you discount the parts heavily to move them on (at least, until / unless Autobid starts picking up property loan parts at par again). Personally I'm holding out for future sub-12 month loans like 12783 if the deal's no better than 8%+2%CB
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blender
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Post by blender on May 13, 2015 16:10:13 GMT
Yes the problem is the 24 months compared with 8. If you hold both to term one gives 8% annualised after fees and the other 10%. Also the shorter one will likely sell at a reasonable discount sooner. Have a look at the discount on the SM for the loans with nearly two years to run.
Whether a loan closes today or tomorrow is hardly the point, of little consequence at 8%. It would not be such an issue if FC had not stopped Autobid from purchasing property loans on the SM.
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SteveT
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Post by SteveT on May 13, 2015 17:18:31 GMT
12707 still needs £45k to fill. Just 4 hrs 20 mins to go... Just shy of £30k still needed with 35 minutes remaining. No sign of FC riding to the rescue yet either, although I didn't expect they would for a first tranche.
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SteveT
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Post by SteveT on May 13, 2015 17:29:14 GMT
12707 still needs £45k to fill. Just 4 hrs 20 mins to go... Just shy of £30k still needed with 35 minutes remaining. No sign of FC riding to the rescue yet either, although I didn't expect they would for a first tranche. I spoke too soon. The FCPF work experience bod is now busily employed clicking in large numbers of £100 bids. Can't wait to see what they do with the 2nd tranche.
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Post by thesnoop on May 14, 2015 8:44:06 GMT
Yes the problem is the 24 months compared with 8. If you hold both to term one gives 8% annualised after fees and the other 10%. Also the shorter one will likely sell at a reasonable discount sooner. Have a look at the discount on the SM for the loans with nearly two years to run. Whether a loan closes today or tomorrow is hardly the point, of little consequence at 8%. It would not be such an issue if FC had not stopped Autobid from purchasing property loans on the SM. Has this been confirmed ? I know nothing about the regulations... but would that not be very questionable behavior ? What I do know is that I'm now done with these property offerings until the SM situation changes.
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blender
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Post by blender on May 14, 2015 9:20:40 GMT
Yes the problem is the 24 months compared with 8. If you hold both to term one gives 8% annualised after fees and the other 10%. Also the shorter one will likely sell at a reasonable discount sooner. Have a look at the discount on the SM for the loans with nearly two years to run. Whether a loan closes today or tomorrow is hardly the point, of little consequence at 8%. It would not be such an issue if FC had not stopped Autobid from purchasing property loans on the SM. Has this been confirmed ? ... No but it is clearly the case de facto since 15th April. Someone has asked the question of FC in another place - so we should get an answer.
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blender
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Post by blender on May 14, 2015 9:24:05 GMT
Has this been confirmed ? I know nothing about the regulations... but would that not be very questionable behavior ? What I do know is that I'm now done with these property offerings until the SM situation changes. It's not stopped, just on an extreme go slow. I put a batch up about a week ago and have sold 2 x £20 parts from over 1000. ... Are you sure that was Autobid? Perhaps a philanthropist? I have sold two parts at par since 15 April, both in 12316. Are yours 12316?
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SteveT
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Post by SteveT on May 14, 2015 9:32:39 GMT
Has this been confirmed ? I know nothing about the regulations... but would that not be very questionable behavior ? What I do know is that I'm now done with these property offerings until the SM situation changes. It's not stopped, just on an extreme go slow. I put a batch up about a week ago and have sold 2 x £20 parts from over 1000. Hardly worth the effort, so I'm down to 12mth term max for 2%cb (small amounts for diversity) or preferably shorter. Which is what everyone else is thinking and why yesterdays 8 monther flew out. Exactly. I think the ramifications of Autobid ignoring property loans on the SM have yet to work themselves through. Many / most lenders may not have realised it yet (unless they keep up to date with this forum) and I suspect there is a certain amount of "momentum investing" still going on. Yesterday's 24-monther was eventually shoved over the line by Finally Capitulating, but that was just the first tranche of several. Once lender interest in anything over 12 months (at 8%+2%CB) drops away further, there'll be little option but to enhance the rate (or raise the CB) for the longer-term large property loans.
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adrianc
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Post by adrianc on May 14, 2015 10:59:46 GMT
No but it is clearly the case de facto since 15th April. Odd. I've sold over 10% of my property, at par, during May. No, I don't have thousands listed, or any real track record of shifting it to compare with, but...
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