sl75
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Post by sl75 on Feb 12, 2016 13:22:35 GMT
I remember when the loan numbers were in the low 6,000s, lad. 6000! That's nothing lad. I've got 98 in my repaid loans. Was a B at 9%. Those were the days - 14 day auctions. Anyone else remember them? That's nothing... I've had loan parts with id's lower than 98 (from loan 9, the very first to draw down on the live platform). Anyone else remember when they reduced the standard listing duration to 14 days?
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blender
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Post by blender on Feb 12, 2016 15:41:34 GMT
6000! That's nothing lad. I've got 98 in my repaid loans. Was a B at 9%. Those were the days - 14 day auctions. Anyone else remember them? That's nothing... I've had loan parts with id's lower than 98 (from loan 9, the very first to draw down on the live platform). Anyone else remember when they reduced the standard listing duration to 14 days? Nope - you must be the only one from FC Genesis. Are you still wearing the designer jeans?
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Post by bonfemme on Feb 13, 2016 7:09:03 GMT
My first loan part was number 22. An A at 7pc (no fees in those days of course). My first default was 71, followed closely by the infamous Solutions House the Next Step 110. I still have that pair of designer jeans on a wardrobe shelf and was only thinking the other day why on earth I haven't binned them. Never been worn - even after going to the trouble to shorten them by 10 inches so they would fit a human being and not Twizzle. Thanks for the memories. Not.
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min
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Post by min on Feb 14, 2016 8:12:40 GMT
No, 1% cash back may get the patient through to the next tranche but treatment has been so far delayed that 2% intravenously is needed - especially with an expected life span of 17 months. I remember when loan requests were a little over 1000. But others have designer jeans older than my start date. Doctor, Doctor, I'm very worried about the patient. I think it might be contagious. Mr Notting Hill seems to be catching it now. Shouldn't we give them both a dose of the 1% medicine immediately. Nurse, calm yourself. You know this isn't a 7 day service. We shall have to wait until the managers are in on Monday. That medicine is very expensive. But Doctor if we wait any longer the patients may not survive without the 2% medicine and that is twice as expensive. Relax nurse, I know what I'm doing. When have you known me get it wrong?
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guff
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Post by guff on Feb 14, 2016 11:46:15 GMT
Who said romance is dead?   What did you get for Valentine's Day? Twenty quid of WB6 mark 2. |
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jamesc
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Post by jamesc on Feb 14, 2016 11:59:59 GMT
I think that FC are determined not to give CB on WB6 for any reason and to me it looks they are diverting every bit of Autobuddy money to get it close enough that they can get it over the line with FCFP buying £30-40k at the end. They would not even be this close if not for a few manual buyers, one person alone bought £4k on Friday.
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SteveT
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Post by SteveT on Feb 14, 2016 12:05:52 GMT
I think that FC are determined not to give CB on WB6 for any reason and to me it looks they are diverting every bit of Autobuddy money to get it close enough that they can get it over the line with FCFP buying £30-40k at the end. They would not even be this close if not for a few manual buyers, one person alone bought £4k on Friday. I agree. They're still desperately hoping to stick to their "no more cashback" New Year resolution. They know that, as soon as they blink, there's no going back; everyone will know to sit on their hands until the CB fairy appears to add a little sparkle to proceedings.
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guff
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Post by guff on Feb 14, 2016 12:16:07 GMT
It could be interesting as there are currently 7 property loans looking for a further £850k over the next few days.
I wonder if the impending breakthrough of the SS logjam has anything to do with it.
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SteveT
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Post by SteveT on Feb 14, 2016 12:26:48 GMT
I won't be buying even if they start adding 1%, unless it's to 10% A+ STPLs like the "good old days" (which won't happen now the Autobiddies are allowed to clear the whole table after 48 hours). There are many better property loans to be had elsewhere, generally at better rates and without the fees. It would take the unlikely reappearance of 2% CB to spark me back into action.
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am
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Post by am on Feb 14, 2016 12:31:59 GMT
It doesn't help FC that their debit card interface is reportedly broken, so autobidders can't make their monthly deposits.
I'm still wondering why the amount of non-institutional money available has fallen through the floor. (Perhaps FC are hoping that Bucks and/or Cornwall will pay back in time to save some loans.)
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Post by GSV3MIaC on Feb 14, 2016 17:01:54 GMT
I think that FC are determined not to give CB on WB6 for any reason and to me it looks they are diverting every bit of Autobuddy money to get it close enough that they can get it over the line with FCFP buying £30-40k at the end. They would not even be this close if not for a few manual buyers, one person alone bought £4k on Friday. I agree. They're still desperately hoping to stick to their "no more cashback" New Year resolution. They know that, as soon as they blink, there's no going back; everyone will know to sit on their hands until the CB fairy appears to add a little sparkle to proceedings. The Q&A on this one makes for really amusing reading (assuming you are logged in so can read it) .. even the spin doctors (nurses?) are having trouble squaring this particular circle. 8>.
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blender
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Post by blender on Feb 14, 2016 22:04:51 GMT
Yes, caught in a lie. Claimed to have been offered with 'more attractive terms for investors' when the terms for investors had not changed - just the size of the tranche. And earlier tranches are available with a 0.2% discount. Suppose they add 1% cash back - still not worth buying to flip and the APR would be about 7.7% after fees over 17 months. I would rather take the 10% A loans, and settle for 9% net until deciding to sell.
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ablender
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Post by ablender on Feb 15, 2016 8:39:00 GMT
A lot of small loans, the size that would not satisfy lenders on SS, and here not filling up. Something is seriously wrong and I think the fault is in the platform's model and its structure of interest rates / risk bands.
Cashback? Yes possibly, but I would say bring back the variable interest rates and let the lenders battle it out and let the market decide.
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acky
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Post by acky on Feb 15, 2016 9:43:59 GMT
So WB6 has been pulled again. FC comment: "This loan is being restructured and will then be relisted. Thanks FC". So what does that mean?
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jayjay
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Post by jayjay on Feb 15, 2016 9:49:36 GMT
They pulled Towersey too. So with probably few new issuances today they may have enough released cash to ply into Notting Hill and pals. The conversation with the Byfleet borrower might be quite interesting to overhear.....
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