mikes1531
Member of DD Central
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Post by mikes1531 on Mar 19, 2015 18:59:53 GMT
And if FS are smart, they'll activate it as soon as it fills, so very few FS lenders will even know it happened. I can't help wondering how often that occurs and we remain oblivious. It's not particularly unusual Mike. When they started the jewellery shop relationship some time ago they did state that they wouldn't be announcing these small loans. They used to come through at 13%, but since the number of lenders has increased it's slipped to 12% more often. I'm convinced they're doing the right thing with these small loans, announcing them would be counter-productive. I wonder how they decide whether to offer a loan at 12% or 13%? I would have thought today's loan would have been at the higher rate because of the LTV which, at 67%, is about as high as they ever go. And I see this loan was activated just before 1800, so it wasn't visible for long. It's probably better that way, as I find that logging in and finding that I've missed yet another investment opportunity is a bit disheartening. Maybe that's part of the reasoning for the lower rate -- it's less of a disappointment to miss out on a 12% loan than a 13% loan.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 19, 2015 19:52:51 GMT
It's not particularly unusual Mike. When they started the jewellery shop relationship some time ago they did state that they wouldn't be announcing these small loans. They used to come through at 13%, but since the number of lenders has increased it's slipped to 12% more often. I'm convinced they're doing the right thing with these small loans, announcing them would be counter-productive. I wonder how they decide whether to offer a loan at 12% or 13%? I would have thought today's loan would have been at the higher rate because of the LTV which, at 67%, is about as high as they ever go. And I see this loan was activated just before 1800, so it wasn't visible for long. It's probably better that way, as I find that logging in and finding that I've missed yet another investment opportunity is a bit disheartening. Maybe that's part of the reasoning for the lower rate -- it's less of a disappointment to miss out on a 12% loan than a 13% loan. Certainly worked this time as must have been available for couple of hours based on time of original post & point I invested when it was less than 70% filled. Pipeline seems to be all 12% or less so wonder if rates have dropped permanently by a %. Unsurprisingly as others competing in their space have generally lower rates Edit: Car has gone up to 13% since last checked
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chrisf
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Post by chrisf on Oct 3, 2015 15:18:14 GMT
03/10/2015
Loan has been formally defaulted. Item has been sent to auction. Waiting for a auction date to be confirmed.
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Awesome, this was the first loan I spotted as soon as it went live and posted a heads-up here. Sorry!
Oh well, fingers crossed for a full recovery, and it's only a few quid anyway.
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