acky
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Post by acky on Nov 27, 2015 12:56:57 GMT
Surely Feeling Charitable will up the CB on Hendon 9 today! This basket case seems already destined to be 'Billy No-Mates' by Monday morning. But I don't think even 2% will have me threatening the moths in my wallet. Other option is withdrawal through "technical error" I guess.
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blender
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Post by blender on Nov 27, 2015 13:11:45 GMT
Surely Feeling Charitable will up the CB on Hendon 9 today! This basket case seems already destined to be 'Billy No-Mates' by Monday morning. But I don't think even 2% will have me threatening the moths in my wallet. Other option is withdrawal through "technical error" I guess. A rise to 2% on Monday would suit me better, please. And there should be something left on the board for Monday.
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am
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Post by am on Nov 27, 2015 14:22:41 GMT
Newest CB is for 17688 an estate agent which has been taken by surprise by "hidden asbestos" and "additional damp and timber repairs" at their new premises. I am sorry but I had to laugh. Didn't anyone tell them about getting a surveyor in before signing? One could make the assumption that they did get a surveyor in, and ask why the surveyor's professional indemnity insurance doesn't cover the additional costs. According to the Q&A they had an asbestos survey performed, and it was still missed. (Behind panelling and plasterboard.)
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SteveT
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Post by SteveT on Nov 27, 2015 15:49:59 GMT
Surely Feeling Charitable will up the CB on Hendon 9 today! This basket case seems already destined to be 'Billy No-Mates' by Monday morning. But I don't think even 2% will have me threatening the moths in my wallet. Other option is withdrawal through "technical error" I guess.
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blender
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Post by blender on Nov 29, 2015 22:21:46 GMT
It is only Bristol, filling 500k well, which will stop Hendon 9 being the Last Turkey in the Shop tomorrow morning.
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Post by hj on Nov 29, 2015 22:58:08 GMT
If my referee needed to have £1000 drawn down by tomorrow, where should he put it? And yeah, I know the answer is "something that closed 3 weeks ago"  |
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arbster
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Post by arbster on Nov 30, 2015 8:00:30 GMT
If my referee needed to have £1000 drawn down by tomorrow, where should he put it? And yeah, I know the answer is "something that closed 3 weeks ago" The secondary market.
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Post by GSV3MIaC on Nov 30, 2015 8:59:08 GMT
Yep, plenty A+ at 10%, which they can resell at par later.
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Post by hj on Nov 30, 2015 9:27:53 GMT
Thanks and yet Humbug! I thought SM didn't count but I checked and you are right...now he needs more money :/
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blender
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Post by blender on Nov 30, 2015 11:53:27 GMT
The SM highlights the diversity choice. You can either buy A+ secured property loans at par at 10%, or say B unsecured SME loans at 12% but at 2-3% premium. The A+ will give 9% net and you can sell later if worried about the tiny chance of loss. The B loans will do no better than that, with all the fuss of diversification and the stress of the defaults. Why bother with the latter?
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Post by hj on Nov 30, 2015 12:50:01 GMT
Thanks, we found some ex-CB secured properties at a discount. I am just hoping the others draw down as soon as they are full. So far so good. £340 to go.
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Post by GSV3MIaC on Nov 30, 2015 13:41:03 GMT
Property loans stand a reasonable chance of drawing down as soon as fully funded (well, next working hours), although Bilston seems stuck. Others, if they bid on others, are likely to hang around for 7 days after closing and then collapse, so if you really need to get the money invested before midnight tonight, then maybe transfer another £340 in, buy some more loan parts, and extract the excess later (assuming that finding £340 is no big deal - if it is, then you probably shouldn't be in this particular bearsandpit anyway).
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jayjay
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Post by jayjay on Dec 1, 2015 9:59:55 GMT
I fear we are seeing CB being used less now to push later tranches of large loans. Both Billing(s)hurst and Wolverhampton show it is being used to prefund a more speculative deal with a client and impress them that FC have the readies - hence there is a correlation in these loans between good CB and a reluctance to draw down.
I also sense a slow down in the supply of new loans ahead of the holiday period. I too got a load of Lincs back yesterday. There is more cash about. I'd love to see WByfleet and Bristol go to 2% but I am not optimistic given this environment.
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am
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Post by am on Dec 1, 2015 10:21:32 GMT
I fear we are seeing CB being used less now to push later tranches of large loans. Both Billing(s)hurst and Wolverhampton show it is being used to ingratiate a new client and impress them that FC have the readies - hence there is a correlation in these loans between good CB and a reluctance to draw down. I also sense a slow down in the supply of new loans ahead of the holiday period. I too got a load of Lincs back yesterday. There is more cash about. I'd love to see WByfleet and Bristol go to 2% but I am not optimistic given this environment. Wolverhampton is not a new client. I don't know what FC were thinking when they put 1% cashback on, making an effective interest rate of 12%, as, as has been commented on another thread, it would probably have filled without the aid of cashback. (Without cashback I would have put my standard chunk in, free cash permitting; with cashback I would have been tempted into diversity criminality if it hadn't filled before I even saw the second incarnation.) Presumably FC wanted it to fill quickly for some reason, but given the lack of enthusiasm displayed by the borrower I can't offer any explanation why they would want that,
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jayjay
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Post by jayjay on Dec 1, 2015 10:24:33 GMT
I fear we are seeing CB being used less now to push later tranches of large loans. Both Billing(s)hurst and Wolverhampton show it is being used to ingratiate a new client and impress them that FC have the readies - hence there is a correlation in these loans between good CB and a reluctance to draw down. I also sense a slow down in the supply of new loans ahead of the holiday period. I too got a load of Lincs back yesterday. There is more cash about. I'd love to see WByfleet and Bristol go to 2% but I am not optimistic given this environment. Wolverhampton is not a new client. I don't know what FC were thinking when they put 1% cashback on, making an effective interest rate of 12%, as, as has been commented on another thread, it would probably have filled without the aid of cashback. (Without cashback I would have put my standard chunk in, free cash permitting; with cashback I would have been tempted into diversity criminality if it hadn't filled before I even saw the second incarnation.) Presumably FC wanted it to fill quickly for some reason, but given the lack of enthusiasm displayed by the borrower I can't offer any explanation why they would want that, My edit crossed as I changed the wording to cover the two loans different situations better.
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