acky
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Post by acky on Dec 14, 2015 16:45:50 GMT
Having to chuckle at Faulty Cartography's description of 18300 as "Property Development in Petersfield Portsmouth 4". Petersfield is >15 miles from Pompey and even has a Guildford postcode. According to the investor report it is 17 miles - but you would not expect FC to be familiar with that, or such rustic provincial places - ' Location
Petersfield is a market town and civil parish in East Hampshire. It is 17 miles north of Portsmouth, via the A3 road.' They had Northumberland in Scotland a while back. ... and I seem to remember the Pennines causing a bout of disorientation. Don't think Failing Compass can muster a Geography GCSE between them. But so long as they're good with investments and IT, that's what matters ..... hmmm!
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jayjay
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Post by jayjay on Dec 14, 2015 16:46:00 GMT
Having to chuckle at Faulty Cartography's description of 18300 as "Property Development in Petersfield Portsmouth 4". Petersfield is >15 miles from Pompey and even has a Guildford postcode. According to the investor report it is 17 miles - but you would not expect FC to be familiar with that, or such rustic provincial places - ' Location
Petersfield is a market town and civil parish in East Hampshire. It is 17 miles north of Portsmouth, via the A3 road.' They had Northumberland in Scotland a while back. Have you been asked the latest customer survey? They sent it to me last week after an enquiry. They ask you if you are satisfied or unsatisfied (sic). There is no space to simply be 'dissatisfied'. Like many customers feeling I had had enough of all this, I was obliged to answer that I was satisfied as I couldn't take any more. False Confidence are presumably busy compiling the results.
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blender
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Post by blender on Dec 14, 2015 17:45:04 GMT
I think it interesting that the three sentences about the location of the development at Petersfield are lifted word-for-word from Bing maps. The knowledge of the proximity of Portsmouth probably comes directly from this. Good to know that they are not wasting time and effort on researching this stuff, I suppose.
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jonah
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Post by jonah on Dec 14, 2015 20:26:09 GMT
Any ideas why petersfield is at 9% not the usual 8? Is the extra due to people not being able to find it on a map or something more material?
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acky
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Post by acky on Dec 15, 2015 7:29:43 GMT
Any ideas why petersfield is at 9% not the usual 8? Is the extra due to people not being able to find it on a map or something more material? LTV at 74% is quite high, although there have been higher LTVs at 8%. Nothing else obvious to me; the developers seem to have a track record, although the Investor Report does not give as much detail of this as is often the case, so perhaps their record is not unblemished.
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Post by GSV3MIaC on Dec 15, 2015 21:39:20 GMT
I see Cashback is currently abolished (i.e. no open loans actually have any). Must be an Xmas special (one hopes).
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adrianc
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Post by adrianc on Dec 16, 2015 9:59:43 GMT
Incidentally, why is it called the SME Income Fund, if it takes property loan tranches, some of which are to private individuals...? I wonder what % of its assets will be in property. I had expected a separate Property Income Fund. Because even FC think the current risk-vs-return for their SME loans is a bit iffy. If they're going to re-brand it, can I suggest the "SME Loan Library"?
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metoo
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Post by metoo on Dec 16, 2015 11:49:23 GMT
Incidentally, why is it called the SME Income Fund, if it takes property loan tranches, some of which are to private individuals...? I wonder what % of its assets will be in property. I had expected a separate Property Income Fund. Because even FC think the current risk-vs-return for their SME loans is a bit iffy. If they're going to re-brand it, can I suggest the "SME Loan Library"? I agree on the asset-secured risk-spreading. But, as it buys Whole Loans, it will have to hold till repayment (or refinancing). And taking these facts together, plus gearing, interesting to wonder what the risk profile might be in a sharp property downturn.
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acky
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Post by acky on Dec 16, 2015 16:13:58 GMT
Fulham 8 - another property loan with no CB. I know it's only £131k, but if there are enough Autobodgers out there that don't already have this development, why have they not been buying my parts on the SM over the last six months? It's been an absolute dog on the SM (no offence intended to the spaniel on my lap, or any other cur).
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jayjay
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Post by jayjay on Dec 16, 2015 16:21:33 GMT
So Peterborough has added CB?! Thats new I think. I am not watching things carefully these days. They must want it done and dusted and through the door quickly
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jonah
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Post by jonah on Dec 17, 2015 17:07:59 GMT
18442 has 1% CB
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acky
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Post by acky on Dec 17, 2015 17:49:11 GMT
I'm thinking of waiting for T2 or T3 to see if the CB gets bumped to 2% in the lead-up to Xmas. Ordinarily I'd do the same, but this is a slightly more dangerous game now. (1) if T2 or T3 was to be Billy No-Mates over Xmas, would it need CB at all (ok, probably yes), but (2) with the random allocation of loans to PL or WL, will we actually see T2 and/or T3 - probably yes to at least one of them but the WL situation does add an unknown factor for one's strategy.
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TitoPuente
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Post by TitoPuente on Dec 17, 2015 18:25:41 GMT
I'm thinking of waiting for T2 or T3 to see if the CB gets bumped to 2% in the lead-up to Xmas. Ordinarily I'd do the same, but this is a slightly more dangerous game now. (1) if T2 or T3 was to be Billy No-Mates over Xmas, would it need CB at all (ok, probably yes), but (2) with the random allocation of loans to PL or WL, will we actually see T2 and/or T3 - probably yes to at least one of them but the WL situation does add an unknown factor for one's strategy. You are absolutely right. However, 8% + 1%CB for 12 months doesn't really fit the bill.
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min
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Post by min on Dec 17, 2015 20:13:48 GMT
You are absolutely right. However, 8% + 1%CB for 12 months doesn't really fit the bill.
___________________________________________________
Except nothing else worth buying and spare cash growing daily.
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acky
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Post by acky on Dec 17, 2015 22:14:18 GMT
You are absolutely right. However, 8% + 1%CB for 12 months doesn't really fit the bill. ___________________________________________________ Except nothing else worth buying and spare cash growing daily. Be festive - buy us all some Christmas presents!
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