ablender
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Post by ablender on Oct 19, 2015 16:19:16 GMT
I don't see Titchmarsh or Petersfield 3 filling with only 1% cashback. Really? Petersfield is still very good for an A+ at 9%+1% and the 2nd tranche was so popular with flippers that I suspect there is still Autobodge potential on it. My bet would be on Titchmarsh just making it with 1%, but maybe not later tranches (which is why I won't be feeding on this one). It depends how FC control the deal flow as well, I guess. Acky - That is a great idea. We can create a third market. Betting on loans.
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acky
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Post by acky on Oct 19, 2015 16:20:41 GMT
16579 is a bit of a whopper. At least the LTV is low. Even with a 2% cashback anybody think this will struggle? Nah, it'll be gone by close of play tomorrow.
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acky
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Post by acky on Oct 20, 2015 15:53:21 GMT
Hackney T3 on the PM at 1% CB. T1 and T2 both for sale on SM at 1.7% discount, so you'd be a mug or an autobiddy (or both!) to buy T3.
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arbster
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Post by arbster on Oct 20, 2015 16:06:14 GMT
Hackney T3 on the PM at 1% CB. T1 and T2 both for sale on SM at 1.7% discount, so you'd be a mug or an autobiddy (or both!) to buy T3. Especially as they still don't seem to have made any progress on the planning permission that is required to keep this at a (still quite unattractive) 74% LTV.
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acky
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Post by acky on Oct 20, 2015 16:26:42 GMT
Really? Petersfield is still very good for an A+ at 9%+1% and the 2nd tranche was so popular with flippers that I suspect there is still Autobodge potential on it. My bet would be on Titchmarsh just making it with 1%, but maybe not later tranches (which is why I won't be feeding on this one). It depends how FC control the deal flow as well, I guess. Acky - That is a great idea. We can create a third market. Betting on loans. Yeah, and I'd be quids in at the moment (unless arbster defaulted on me!). But my prediction that Peterborough 2 would fill today is looking as dodgy as a declining turnover, plummeting credit score, technically insolvent, 60 month A+ with no cashback! (Not that I'm suggesting that species exists, of course).
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Post by GSV3MIaC on Oct 23, 2015 16:48:00 GMT
They must be feeling bullish at Fawlty Constructors, since there are now =5= first tranches of property loans on the market. One wonders where tranches 2-N are supposed to come from, and how much CB will be needed given that even tranche 1 came with 1% in most cases... except 16718, for some unknown reason (maybe just to test the water .. the CB will be along later?).
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SteveT
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Post by SteveT on Oct 23, 2015 17:12:53 GMT
They must be feeling bullish at Fawlty Constructors, since there are now =5= first tranches of property loans on the market. One wonders where tranches 2-N are supposed to come from, and how much CB will be needed given that even tranche 1 came with 1% in most cases... except 16718, for some unknown reason (maybe just to test the water .. the CB will be along later?). Really can't understand why 16720 needed 1%CB (12 months, £190k with just £200k to come in later tranche(s)) especially on a Friday afternoon when they won't be drawing down until Monday at the earliest. It's 62% filled already in 3 hours; I'm almost tempted as I reckon it will flip pretty quickly.
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acky
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Post by acky on Oct 23, 2015 21:07:13 GMT
They must be feeling bullish at Fawlty Constructors, since there are now =5= first tranches of property loans on the market. One wonders where tranches 2-N are supposed to come from, and how much CB will be needed given that even tranche 1 came with 1% in most cases... except 16718, for some unknown reason (maybe just to test the water .. the CB will be along later?). Really can't understand why 16720 needed 1%CB (12 months, £190k with just £200k to come in later tranche(s)) especially on a Friday afternoon when they won't be drawing down until Monday at the earliest. It's 62% filled already in 3 hours; I'm almost tempted as I reckon it will flip pretty quickly. I'm afraid I was more than tempted. As you say, it should flip easily and with no 2%'s around, it seems to be the best place for a few quid at the moment.
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arbster
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Post by arbster on Oct 24, 2015 4:46:54 GMT
Why do we think then sent 16718 out into the big wide world with no cashback to help it on its way? Just because it's the first tranche of many, and they expect to need to put a lot of cashback onto the later tranches? 71% LTV isn't so attractive that people will take it willingly.
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am
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Post by am on Oct 24, 2015 9:16:17 GMT
Why do we think then sent 16718 out into the big wide world with no cashback to help it on its way? Just because it's the first tranche of many, and they expect to need to put a lot of cashback onto the later tranches? 71% LTV isn't so attractive that people will take it willingly. The justification that they give is the level of pre-sales, which is not unreasonable - I do think that this is a lower risk project than 16719 and 16720. But I am surprised that they're trying to get away without cashback on 16718, and not on the smaller (both tranche and project) 16719 and 16720 - they could probably have relied on autobids to get the latter two over the line.
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Post by aloanatlast on Oct 24, 2015 10:27:57 GMT
I think they're just testing. It'll help if they can drive out some more of the less passive lenders before they start giving the property loans to the investment trust.
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Post by GSV3MIaC on Oct 24, 2015 10:56:09 GMT
As I said upstream, I suspect they are testing the water. It is a lot easier to add a 1% cashback later if they need (as they have done on several occasions) to than it is to try to take a cashback away after promising it (which they've only tried once, AFAIK, and regretted it). 8>.
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SteveT
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Post by SteveT on Oct 26, 2015 11:27:42 GMT
Bids in 16720 have been returned: "FC Comments: The terms has been listed incorrectly, this will be relisted shortly with the correct term. Thanks FC"
Better schedule some additional monkey training...
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acky
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Post by acky on Oct 26, 2015 12:08:44 GMT
Bids in 16720 have been returned: "FC Comments: The terms has been listed incorrectly, this will be relisted shortly with the correct term. Thanks FC" Better schedule some additional monkey training... Thanks for posting that, stevet. Where do you see this FC Comment?
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ablender
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Post by ablender on Oct 26, 2015 12:10:03 GMT
Bids in 16720 have been returned: "FC Comments: The terms has been listed incorrectly, this will be relisted shortly with the correct term. Thanks FC" Better schedule some additional monkey training... Is it my impression or not? It seems that FC are doing too many mistakes related to incorrect listings.
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