coop
Member of DD Central
Posts: 714 
Likes: 571
|
Post by coop on Mar 20, 2015 20:31:30 GMT
One notices no property has gone up since Tuesday. I smell a change of strategy ahoy.
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Post by fasty on Mar 20, 2015 20:37:59 GMT
One notices no property has gone up since Tuesday. I smell a change of strategy ahoy. It's funny, I was expecting more to be launched this afternoon after Frolicking Chimps had come back from their extended lunch break at the wine bar. But, alas, no.
P.S. I think blender looked better in green
|
|
|
|
Post by goldservice on Mar 20, 2015 21:37:29 GMT
One notices no property has gone up since Tuesday. I smell a change of strategy ahoy.
P.S. I think blender looked better in green
Peter Sellers once sang 'Half as gold as green ...' or similar.
|
|
adrianc
Member of DD Central
Posts: 10,015
Likes: 5,144
|
Post by adrianc on Mar 21, 2015 8:16:12 GMT
P.S. I think blender looked better in green It isn't easy being green.
|
|
|
|
Post by GSV3MIaC on Mar 22, 2015 13:00:27 GMT
Some greenies are obviously biting at 11616, since it looks like it might squeak over the line, much to my surprise. 8>.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Mar 22, 2015 14:06:55 GMT
11616, considering the security, is probably equal first among all the loans currently on the FC board. And it's the closest to drawdown - easy to reach without unfurling the tongue too far.
But, personally, I am not that desperate, and may have to go and blend in somewhere else with better food.
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Post by fasty on Mar 22, 2015 23:55:36 GMT
So 11616 looks like it will just scrape in.
But now most people who want a piece of 11616 have probably got it, I can't see how FC will fill further tranches any time soon, unless there's a sweetener. So, if I was thinking of buying, I might as well wait ? Or am I missing something?
|
|
adrianc
Member of DD Central
Posts: 10,015
Likes: 5,144
|
Post by adrianc on Mar 23, 2015 8:18:39 GMT
Some greenies are obviously biting at 11616, since it looks like it might squeak over the line, much to my surprise. 8>. ...and it's got there.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Mar 23, 2015 9:10:22 GMT
So 11616 looks like it will just scrape in.
But now most people who want a piece of 11616 have probably got it, I can't see how FC will fill further tranches any time soon, unless there's a sweetener. So, if I was thinking of buying, I might as well wait ? Or am I missing something? I don't think you are missing anything. The plan used to be to take the first tranche with a 2% cash back and to use that to help exit before the end of the term and its associated risks. Without cash back the loan has to be taken on the basis of expecting to hold to term. FC policy (almost explicit) on property loan cash back is now to use it to incentivise manual bidders as underwriters where needed on the later tranches - giving a shorter term over which to spread the value of the cash back or a way of exiting before term with a discount. So if not too troubled about diversity and you want something better than the Autobidder deal, then waiting for a later tranche which may have cash back is a valid choice. The cash back is not related to risk -imo.
|
|
|
|
Post by p2perrr on Mar 23, 2015 9:58:08 GMT
11738 (re-listed). £238k; 8%; 18 months; 2% cb.  |
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Mar 23, 2015 10:12:14 GMT
That's more like it.
Also 11742, same rate and CB (on £400k) but just 10 months term.
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Post by fasty on Mar 23, 2015 10:18:02 GMT
Aha, there we go, 2%. That's more like it.
Do you think we'll see further property loans with less splashback (or none) but slightly higher rates to help them fill?
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Mar 23, 2015 11:12:12 GMT
11738 is a first tranche (after a failed listing). So FC would rather give away 2% than just lose it or increase the rate. Interesting.
|
|
|
|
Post by GSV3MIaC on Mar 23, 2015 11:48:50 GMT
We await the tall one to leap in and rescue it (or all of them .. seems there are 3 out there now?). Must not wait too long if you want a slice though, in case he throws a couple of hundred K in rather fast. 8>. They do look like possible flipping opportunities, but if you plan to hold them to the end the rate (after fees etc.) still looks worse than most of the offerings elsewhere.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Mar 23, 2015 14:08:26 GMT
You wait ages for a 2% cash back loan and then three come along at once.
You are sounding a little unappreciative, GSV. The Cornish one for a basic rate tax payer is worth 8% on an annual basis after fees and tax (assuming no losses). More if it repays early or if you can flip. It should draw down within the week. And the LTV is really better than 63% because the interest, which FC collects and repays, is included in the loan value. Considering that the lenders have direct security on property, it is not bad. There are other platforms, but you have to examine them very carefully to be sure they are better and suit your requirements. (I am doing that now so I am not necessarily disagreeing, but not in a position to do comparisons.)
|
|
