acky
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Post by acky on Oct 28, 2015 19:26:14 GMT
...and some 2nd charges, I wouldn't touch it at 12% on SS (et al). But with £1.566mm required in fairly short order, I might take some of the cb they'll need to give on tranche2/3 as some of the previous 10% A+ loans are now selling at 1% markup. (I sold a piece of Islington at +1.8 recently) Edit, must learn to type quicker. £1.566 M secured by leasehold shrapnel No No No But Fearless Cavaliers say it's A+, so it must be good 
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blender
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Post by blender on Oct 28, 2015 19:56:28 GMT
I suppose with the LTV and security issues it is really an A but if you stretch a point and call it A+ then the 10% looks better than it would on an A, and more flippable. There must be cash back to come.
If 16774 is an A+ justifying 8.3% then this is immaculate by comparison and 10% so far.
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jamesc
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Post by jamesc on Oct 30, 2015 14:01:46 GMT
Hi
Can anyone voice an opinion as to why Property loan seem to sell at increasingly lower rates closer to maturity is it just supply and demand or am I as usual missing something ? To me this seems counterintuitive as without any updates does not the risk of property loans increases closer to maturity ?
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Post by GSV3MIaC on Oct 30, 2015 15:56:26 GMT
I believe it is supply and demand; some folks want a guaranteed (big joke, but they don't know that) exit in X months time. Since property loans are mostly large and hard to flip at par, the easy way to get your cash back is at maturity. Of course we, on the forum, understand that most of the risk is in the last month or two (or the month after the month after (do until done) ... that). There is also the normal 'more risk premium for longer loans coz the rate may change' (see FC's different rates for different terms, but ignore their A+ delta, coz that is plumb stupid, but still seems to fill).
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fasty
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Post by fasty on Nov 2, 2015 14:05:56 GMT
I see that the recent London property loan A+ 10% is back for another £450k with no splashback. Is the rate good enough that they will get away with second tranche?
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arbster
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Post by arbster on Nov 2, 2015 14:14:05 GMT
I see that the recent London property loan A+ 10% is back for another £450k with no splashback. Is the rate good enough that they will get away with second tranche? If I want a short-term property loan I've got FundingSecure (c. 50-70% LTV, 12-13%), SavingStream (c. 70% LTV, 12%), MoneyThing (50-70% LTV, 9-12% incoming) or Funding Circle ( 84% LTV, 10%, less 1% fee, less 0.25% fee to sell it). Tough call.
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SteveT
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Post by SteveT on Nov 2, 2015 14:32:17 GMT
I was tickled to receive a personalised letter from Fundamentally Crazy this morning, addressed to the "Managing Director" of the company I use for my P2P lending, breathlessly informing me that I'd been pre-authorised to borrow from £5k-£250k at rates as low as 6%. I briefly toyed with the idea of seeing how far I'd get trying to borrow money unsecured on FC at 6% to lend out elsewhere on asset-backed loans at 12-13%, but I decided I had better things to do with my day and made another cup of coffee.
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SteveT
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Post by SteveT on Nov 2, 2015 14:48:11 GMT
16950, £386k A+ 8%+2%CB, 12 months (2nd tranche of K***** Rd London)
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Post by GSV3MIaC on Nov 2, 2015 14:53:52 GMT
And only 12 months, so that trumps 10% no CB rather handily for most people.
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SteveT
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Post by SteveT on Nov 2, 2015 15:08:08 GMT
And only 12 months, so that trumps 10% no CB rather handily for most people. Likely only 1 more tranche to go too (£1.05m total scheme) so should flip pretty well after the usual few weeks' hiatus. Reckon I won't have much of it left by 6 months. Got to wonder if T3 will get the same 2%CB or if this is a rare moment of generosity.
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arbster
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Post by arbster on Nov 2, 2015 15:36:23 GMT
And only 12 months, so that trumps 10% no CB rather handily for most people. Likely only 1 more tranche to go too (£1.05m total scheme) so should flip pretty well after the usual few weeks' hiatus. Reckon I won't have much of it left by 6 months. Got to wonder if T3 will get the same 2%CB or if this is a rare moment of generosity. Probably need it to fill really quick so they can secure the property and get it offline as quickly as possible to minimise potential competitors' Google opportunities.
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stevio
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Post by stevio on Nov 2, 2015 17:13:54 GMT
I was tickled to receive a personalised letter from Fundamentally Crazy this morning, addressed to the "Managing Director" of the company I use for my P2P lending, breathlessly informing me that I'd been pre-authorised to borrow from £5k-£250k at rates as low as 6%. I briefly toyed with the idea of seeing how far I'd get trying to borrow money unsecured on FC at 6% to lend out elsewhere on asset-backed loans at 12-13%, but I decided I had better things to do with my day and made another cup of coffee. I get these too, but have considered Zopa for personal loan at circa 4% to use to bulk up my 12% asset backed loans, but need to max out as many as I can cheaper 0% balance transfers to credit cards first 
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grahamg
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Post by grahamg on Nov 2, 2015 18:57:29 GMT
I was tickled to receive a personalised letter from Fundamentally Crazy this morning, addressed to the "Managing Director" of the company I use for my P2P lending, breathlessly informing me that I'd been pre-authorised to borrow from £5k-£250k at rates as low as 6%. I briefly toyed with the idea of seeing how far I'd get trying to borrow money unsecured on FC at 6% to lend out elsewhere on asset-backed loans at 12-13%, but I decided I had better things to do with my day and made another cup of coffee. Was thinking the other day, would that work? But what would you have put in the business profile , or maybe does not matter if autobodge filled.
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SteveT
Member of DD Central
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Post by SteveT on Nov 2, 2015 18:59:09 GMT
I was tickled to receive a personalised letter from Fundamentally Crazy this morning, addressed to the "Managing Director" of the company I use for my P2P lending, breathlessly informing me that I'd been pre-authorised to borrow from £5k-£250k at rates as low as 6%. I briefly toyed with the idea of seeing how far I'd get trying to borrow money unsecured on FC at 6% to lend out elsewhere on asset-backed loans at 12-13%, but I decided I had better things to do with my day and made another cup of coffee. Was thinking the other day, would that work? But what would you have put in the business profile , or maybe does not matter if autobodge filled. "Expansion and Growth", followed by "I would like some money, no questions asked (or answered for that matter)"
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eddie
i have put up with a great deal from the likes of you people, a very great deal....
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Post by eddie on Nov 2, 2015 19:13:30 GMT
Was thinking the other day, would that work? But what would you have put in the business profile , or maybe does not matter if autobodge filled. "Expansion and Growth", followed by "I would like some money, no questions asked (or answered for that matter)" or in fact repaid, in my experience
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