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Post by fundingsecure on Jun 25, 2015 11:55:11 GMT
New loan to be posted at 3pm Friday 26th June Secured against 4 Persian carpets £4,500 13% pa LTV 56.25% As this is a renewal there will be a bid restriction of £25 for the first 24 hours More detailsFundingSecure |
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chrisf
Member of DD Central
Posts: 224 
Likes: 67
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Post by chrisf on Jun 25, 2015 12:07:16 GMT
New loan at 3pm Thursday 25th June Secured against a painting £2,000 12% pa LTV 50.0% There will be a bid restriction of £50 for the first 24 hours More detailsFundingSecure Didn't this one come out a couple of hours early and fill in 5 minutes?
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Post by fundingsecure on Jun 25, 2015 15:32:59 GMT
chrisf - yes it did.
The original loan posting (previous page on this thread) was updated - I have just bolded the update to make it more obvious.
FS
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Post by fundingsecure on Jun 25, 2015 15:38:12 GMT
New loan to be posted at 6pm Friday 26th June Secured against a Copy of the Magna Carta £5,000 12% pa LTV 50.0% As this is a renewal there will be a bid restriction of £25 for the first 24 hours More detailsFundingSecure |
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Post by biggles on Jun 25, 2015 20:35:37 GMT
New loan to be posted at 6pm Friday 26th June Secured against a Copy of the Magna Carta £5,000 12% pa LTV 50.0% As this is a renewal there will be a bid restriction of £25 for the first 24 hours More detailsFundingSecure "Does Magna Carta mean nothing to you? Did she die in vain?"
Anthony Aloysius Hancock
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Post by fundingsecure on Jun 29, 2015 17:40:09 GMT
New loan to be posted at 2pm Tuesday 30th June Secured against an industrial wrapping machine £18,000 13% pa LTV 51.4% There will be a bid restriction of £250 for the first 24 hours More detailsFundingSecure |
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jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
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Post by jonah on Jun 29, 2015 19:07:24 GMT
New loan to be posted at 2pm Tuesday 30th June Secured against an industrial wrapping machine £18,000 13% pa LTV 51.4% There will be a bid restriction of £250 for the first 24 hours More detailsFundingSecure As this has a buy back guarantee from the manufacturer, I don't understand the high interest rate... Where is the risk I'm obviously missing?
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Post by mrclondon on Jun 29, 2015 19:41:29 GMT
New loan to be posted at 2pm Tuesday 30th June Secured against an industrial wrapping machine £18,000 13% pa LTV 51.4% There will be a bid restriction of £250 for the first 24 hours More detailsFundingSecure As this has a buy back guarantee from the manufacturer, I don't understand the high interest rate... Where is the risk I'm obviously missing? The obvious one is manufacturer goes bust in the meantime, rendering the guarantee worthless, and almost certainly severely knocking thevalue of the machine as there may no longer be technical support / maintenance services available.
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Post by fundingsecure on Jun 29, 2015 21:19:45 GMT
Just a quick comment.
The "high" interest rate was because this is a rather unusual loan - the first we have done on business equipment.
The concern was that some investors might be put off by the unusual nature of the security.
HTH
FundingSecure
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Jun 29, 2015 21:26:36 GMT
As this has a buy back guarantee from the manufacturer, I don't understand the high interest rate... Where is the risk I'm obviously missing? The obvious one is manufacturer goes bust in the meantime, rendering the guarantee worthless, and almost certainly severely knocking thevalue of the machine as there may no longer be technical support / maintenance services available. Not that long ago 13% was the norm and unusual stuff got a higher rate. Nothing 'high' about 13% when we are holding whatever risk there is.
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jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
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Post by jonah on Jun 30, 2015 16:28:28 GMT
Well it was all gone by 4:39 (or sooner) so people must have liked it.
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Post by fundingsecure on Jul 2, 2015 17:21:22 GMT
New loan to be posted at 11am Friday 3rd July Secured against a Lexus GS 300L £5,000 13% pa LTV 66.7% There will be a bid restriction of £100 for the first 24 hours More detailsFundingSecure |
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Post by Financial Thing on Jul 2, 2015 18:14:26 GMT
New loan to be posted at 11am Friday 3rd July Secured against a Lexus GS 300L £5,000 13% pa LTV 66.7% There will be a bid restriction of £100 for the first 24 hours More detailsFundingSecure I'm seeing the same car on Autotrader for £5k - £5900 Mind me asking how you came up with a £7500 valuation?
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Post by fundingsecure on Jul 2, 2015 21:26:41 GMT
Just a short note to perhaps help clarify a little.
Through our HPI membership we are able to receive detailed information from Autotrader, Cap and Glass Guides. Autotrader almost always comes up with low values - not sure why, but it seems to.
We largely base our valuations on both CAP and Glass Guides - supported as needed by discussion with motor traders. We also take into account the circumstances of the owner, as well as the history. Our potential outlets (in the event of default) include auction, trade and direct sale. The value and the loan amount are set based on what we believe we could recover in the event of a default to ensure recovery of capital and interest.
This particular car is relatively low mileage, in good condition and it seems the market for this type of car is quite strong.
Of course it is not possible to be 100% accurate on any used car price - we make what we feel are accurate assessments and post the loan accordingly.
As with all of our loans we try to provide sufficient information to allow investors to make an intelligent choice, whilst still trying to maintain the borrower's anonymity. In the end it is up to individual investors to decide whether they accept our numbers or decide not to invest, due to an alternative view or simply if they feel there is not enough information.
Hope this helps to give at least a little insight into our processes.
FundingSecure
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Post by Financial Thing on Jul 3, 2015 2:31:28 GMT
Thanks for the explanation.
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