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Post by GSV3MIaC on May 29, 2015 14:04:28 GMT
ooooh hello 13145 9% +2%CB £465k 18 months. Not too bad! Many thanks for the alert, coop. That one seems to be going like hot cakes. And then there 13148, which (by comparison) has to be regarded as rather cynical 'milk the autobid grannies for all they are worth'. Or maybe there's just a really random number generator attached to the rate & cashback fixing processes?
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blender
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Post by blender on May 29, 2015 14:48:27 GMT
I am not sure if the vision of milking the Autobid grannies is one which is permitted to be conjured up on this forum. I am sure that it would not fall within the job description of anyone at Farmhouse Cheeses.
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SteveT
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Post by SteveT on May 29, 2015 15:10:02 GMT
Many thanks for the alert, coop. That one seems to be going like hot cakes. And then there 13148, which (by comparison) has to be regarded as rather cynical 'milk the autobid grannies for all they are worth'. Or maybe there's just a really random number generator attached to the rate & cashback fixing processes? I'm beginning to think there must be an office dart-board (as well as the ping-pong table) with different property loan offers marked around it. The boozier the lunch, the wilder the selection throws.
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baldpate
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Post by baldpate on May 29, 2015 17:57:52 GMT
What happened to 13089? Now shows 0% on my watchlist. For anyone who didn't have a bid in 13089... FC comments: The borrower has not been able to evidence to Funding Circle the necessary cash required towards this transaction within the required timeframes. FC had given them a deadline of 29 May 2015 to evidence their equity required (to coincide with this loan filling) to complete on the property purchase by 14 June 2015. They have not been able to do so. As such, we deem it prudent to not proceed with this loan at this point given the uncertainty (risk) of their equity contribution. Apologies to investors who have had their funds tied up in this scheme for a period of time. But instead of trying to force the position, we would rather not proceed and protect investors interests. Thanks for posting that information, pepperpot. I was watching (not participating in) this one, and wondered why it was cancelled. Interesting insight, however slight, into FC's due dilligence processes.
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Post by GSV3MIaC on May 30, 2015 17:28:41 GMT
13145 closed in a big rush in the middle of the night - we seem to have a new player (bot?) which bought £20k or more (I stopped scrolling at £20k) in £20 parts in the space of not-very-long.
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SteveT
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Post by SteveT on Jun 1, 2015 11:26:55 GMT
13145 closed in a big rush in the middle of the night - we seem to have a new player (bot?) which bought £20k or more (I stopped scrolling at £20k) in £20 parts in the space of not-very-long. The second tranche (13170) has just gone live but this time with only 1%CB (same 9% rate) !!
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is
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Post by is on Jun 1, 2015 13:22:51 GMT
13145 closed in a big rush in the middle of the night - we seem to have a new player (bot?) which bought £20k or more (I stopped scrolling at £20k) in £20 parts in the space of not-very-long. The second tranche (13170) has just gone live but this time with only 1%CB (same 9% rate) !! While somebody is selling 13145 @ 1.1% discount (better than the new CB & instant). Must be in a rush!
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fasty
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Post by fasty on Jun 1, 2015 19:20:06 GMT
A flurry of new property loan requests today (Monday), although 7.5% with no cashback isn't getting me excited. I get the impression that the offers are better when our Frolicking Chums have got "that Friday feeling".
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TitoPuente
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Post by TitoPuente on Jun 4, 2015 13:59:36 GMT
Ok, so now it's 8.5% with no cash back. Is this fine tuning or just hit and miss?
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Post by Deleted on Jun 4, 2015 14:03:34 GMT
Just disappointing, Où sont les "props" d'hier
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fasty
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Post by fasty on Jun 4, 2015 14:06:40 GMT
Just disappointing, Où sont les "props" d'hier Too true. Unless some worthwhile temptation appears in the post-lunchtime euphoria on Happy Friday, I shall likely be pulling funds out rather than putting more in.
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SteveT
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Post by SteveT on Jun 4, 2015 15:05:50 GMT
Ok, so now it's 8.5% with no cash back. Is this fine tuning or just hit and miss? Judging by 2 or 3 of this week's new property listings, I think F'inkin Creatively may have cottoned on that 8% is too low a starting rate for the larger >12 month property loans and means they end up adding 2%CB to most / all tranches to get them away. If it means we'll start seeing some 3rd / 4th tranche auctions with a base rate of 8.5% or 9% (A+) and 2%CB on top, that's fine by me.
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min
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Post by min on Jun 5, 2015 7:29:35 GMT
Ok, so now it's 8.5% with no cash back. Is this fine tuning or just hit and miss? Judging by 2 or 3 of this week's new property listings, I think F'inkin Creatively may have cottoned on that 8% is too low a starting rate for the larger >12 month property loans and means they end up adding 2%CB to most / all tranches to get them away. If it means we'll start seeing some 3rd / 4th tranche auctions with a base rate of 8.5% or 9% (A+) and 2%CB on top, that's fine by me. I'm not sure Florid Carpetbaggers are cottoning on. They seem to still be trying to find out what flies. Wigan 1 with no cb and 8% needs £50,000 in next 4 hours. Could be close. Monday's 3 that all finish close together and are all £400,000 plus should tell them something. The 7.5% one with 2% cb is struggling. The other 2 - one is 8%/2%cb, the other is 9%/1%cb both over 90% full but have still takien sometime to fill. If they want to fill them fast they are going to have to up their game. Hoping for 8.5%/2%cb soon.
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SteveT
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Post by SteveT on Jun 5, 2015 8:06:33 GMT
Judging by 2 or 3 of this week's new property listings, I think F'inkin Creatively may have cottoned on that 8% is too low a starting rate for the larger >12 month property loans and means they end up adding 2%CB to most / all tranches to get them away. If it means we'll start seeing some 3rd / 4th tranche auctions with a base rate of 8.5% or 9% (A+) and 2%CB on top, that's fine by me. I'm not sure Florid Carpetbaggers are cottoning on. They seem to still be trying to find out what flies. Wigan 1 with no cb and 8% needs £50,000 in next 4 hours. Could be close. Monday's 3 that all finish close together and are all £400,000 plus should tell them something. The 7.5% one with 2% cb is struggling. The other 2 - one is 8%/2%cb, the other is 9%/1%cb both over 90% full but have still takien sometime to fill. If they want to fill them fast they are going to have to up their game. Hoping for 8.5%/2%cb soon. The 7.5% one (Upminster 5) is the latest tranche of a loan facility that started out last September so I assume they're locked into the originally agreed 7.5% borrower rate across all tranches. I certainly don't think it would be at 7.5% if it were a new loan.
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dorset
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Post by dorset on Jun 5, 2015 9:40:40 GMT
This is the dilemma now facing Fantastic Contrasts. Once an 8% fails to make it then the processes becomes self fulfilling. I have a few hundred that I would put into Wigan 1 but with a couple of hours to go why bother. If it comes back with 2% cashback then in goes the money if not then I'll wait for the next one. This is quite an inefficient way for FC to test market rates and appetite for loans.
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