blender
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Post by blender on Jan 21, 2016 11:35:28 GMT
Two new property loans at 8%. OK it is a new year and property loans take time to get going. We are unlikely to see the volume require propping for a while - just higher interest rates where the loan requires it (which is as it should be).
The major change is the inclusion of property in whole loans. Given that the majority of loans go as whole loans, and given that the FC trust will purchase all property loans which are chosen as whole loans, without any propping up, then it is difficult to see circumstances in which a property loan would need to start with cash back. A better approach would be to list all property loans without cash back and rely on most of the large late-tranche loans to being randomly chosen as whole loans. Only if they get listed as partial loans might there be a need to intervene, either by purchase by FCPF (undesirable) or by tactical cash back offered later in the listing period.
Slim pickings for us vultures. I think I have to declare Game Over and move on.
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bigfoot12
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Post by bigfoot12 on Jan 21, 2016 14:35:54 GMT
No sales overnight for me, and then quite a few this morning until the two property loans went on sale. And now those have passed 50% I have had quite a few more sales, mainly Southfields. Perhaps another slice of that is coming soon?
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Post by GSV3MIaC on Jan 21, 2016 14:45:21 GMT
FC are clearly still game playing (and refusing to discuss it in the other place) with SM sales .. there were none the other night when there were no PM opportunities either, so repayment cash (assuming repayment wasn't just broken) must have been stockpiled for future PM bidding. Would be VERY illuminating to see a graph of the PM/SM split for autobodge cash by day.
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fasty
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Post by fasty on Jan 21, 2016 17:50:06 GMT
FC are clearly still game playing (and refusing to discuss it in the other place) with SM sales .. there were none the other night when there were no PM opportunities either, so repayment cash (assuming repayment wasn't just broken) must have been stockpiled for future PM bidding. Would be VERY illuminating to see a graph of the PM/SM split for autobodge cash by day. Too true. I did sell just one of my highly desirable 8% A+ secured property loan parts today, first sale in 4 days. In contrast, just after Xmas it was not unusual to shift a dozen every day. There does seem to be a Big Lever being played with.
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sl75
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Post by sl75 on Jan 21, 2016 19:53:08 GMT
FC are clearly still game playing (and refusing to discuss it in the other place) with SM sales .. there were none the other night when there were no PM opportunities either, so repayment cash (assuming repayment wasn't just broken) must have been stockpiled for future PM bidding. Would be VERY illuminating to see a graph of the PM/SM split for autobodge cash by day. Too true. I did sell just one of my highly desirable 8% A+ secured property loan parts today, first sale in 4 days. In contrast, just after Xmas it was not unusual to shift a dozen every day. There does seem to be a Big Lever being played with.
Not quite a dozen (yet!), but 11 loan parts totalling over £1500 sold from my account today, of which £760 was 8% property parts at par. Considering the overall rate at which loan parts at par are being depleted, I'm not sure how you're all managing to avoid sales!
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blender
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Post by blender on Jan 21, 2016 22:49:23 GMT
Sales of the 8% property parts picked up for me quite dramatically with the repayments becoming available in the small hours, and sales have continued through the day. All £40. It does seem to be most inconsistent. The problem at present is lack of buying opportunities.
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metoo
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Post by metoo on Jan 21, 2016 23:03:51 GMT
Two new property loans at 8%. OK it is a new year and property loans take time to get going. We are unlikely to see the volume require propping for a while - just higher interest rates where the loan requires it (which is as it should be). The major change is the inclusion of property in whole loans. Given that the majority of loans go as whole loans, and given that the FC trust will purchase all property loans which are chosen as whole loans, without any propping up, then it is difficult to see circumstances in which a property loan would need to start with cash back. A better approach would be to list all property loans without cash back and rely on most of the large late-tranche loans to being randomly chosen as whole loans. Only if they get listed as partial loans might there be a need to intervene, either by purchase by FCPF (undesirable) or by tactical cash back offered later in the listing period. Slim pickings for us vultures. I think I have to declare Game Over and move on. Is it time already? Total volume of property lending in the last month was down by about 60% compared with recent months ignoring the pre-Christmas surge. That easily explains absence of CB. They must want to get back up to speed as soon as they can. Whereas whole loans dominate the SME loans, taking around 75% of new lending now, they only account for about 25% of new property lending. So far it's just the Income Fund.
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ablender
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Post by ablender on Jan 23, 2016 19:23:47 GMT
IFISA will not be getting a surge of money to FC from me.
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Post by Deleted on Jan 24, 2016 7:54:48 GMT
Need some funds for elsewhere, so I'll be putting up a few £2k loan parts at par - 10% A rated Sussex 4, 38% LTV. Good luck! (there are relatively few potential buyers for £2k parts, but they certainly exist... and that looks like one of the best deals available on the SM for those whose pockets are deep enough) All the Sussex 4 £2k loan parts were sold last week ... now selling Sussex 3 loan parts at par (10%).
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Post by Deleted on Jan 24, 2016 12:01:25 GMT
All the Sussex 4 £2k loan parts were sold last week ... now selling Sussex 3 loan parts at par (10%). 10% return on a 38% LTV A loan is better than many property opportunities on FC at present. I know you plan to move funds to another platform, but do you mind if I ask why you bought Sussex in £2k loan parts? Was your initial thought to buy and hold Sussex to term? Hi Timmy, Bought Sussex in 2k parts, firstly because I was new to the site and didn't know any better and also because I was happy to hold these till the end given the asset backing and the 38% LTV. Still happy to hold till the end if they don't sell at 10% (not selling them any cheaper)(ps 40-50 2k loan parts in Sussex 4 took around 3 days to sell, so there is good demand even for £2k parts at present). Also just put the last of my sub £2k loan parts in Sussex 4 up for sale at par, these are selling much quicker.
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acky
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Post by acky on Jan 25, 2016 14:56:21 GMT
Good to see the "technical error" family are alive and kicking again, 19425 Camberley 2 being the latest recruit. Not clear though why forgetting to link the loan to Camberley 1 is a technical error rather than a human one. Hey ho!
EDIT: .... and now Fumbling Crustaceans have relisted Camberley 2 without refunding the money bid on the first failed attempt. If I didn't have loads of spare cash due to lack of decent investment opportunities, I might be a bit cross about that!
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jayjay
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Post by jayjay on Jan 25, 2016 16:08:50 GMT
This is a technical error better known in the parlance as a 'trapped bid' or 'gotcha'. You put the money in the slot machine and nothing comes out. To get the goodies you have to put the money in a second time. Meanwhile you put a call into the vending company who says that you should kick the machine hard and they'll send an engineer round next week..Aarggh!!!
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jayjay
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Post by jayjay on Jan 26, 2016 13:40:36 GMT
Has anyone got their money back on Camberley 2 (aborted)? Someone on Q&A on Camberley 2 (take 2) said they had plus interest last night. I am still £140 down. At least my accounts don't reconcile so I am confident that it is there somewhere. Anyone else out there had their refund?
Edit: spoke too soon - mine is in just now 24 hours late
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min
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Post by min on Jan 26, 2016 13:44:04 GMT
Has anyone got their money back on Camberley 2 (aborted)? Someone on Q&A on Camberley 2 (take 2) said they had plus interest last night. I am still £140 down. At least my accounts don't reconcile so I am confident that it is there somewhere. Anyone else out there had their refund? Edit: spoke too soon - mine is in just now 24 hours late Just got my £40 back but account doesn't reconcile - £2ish out
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jamesc
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Post by jamesc on Jan 26, 2016 13:52:32 GMT
For anyone that cares looks like Tewkesbury has repaid early
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