kermie
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Post by kermie on Mar 11, 2016 18:56:02 GMT
You were unlucky then crabbyoldgit - I don't know why you did not get your allocation of £50 - lack of funds at the time? I asked for £100 and got it. |
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registerme
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Post by registerme on Mar 11, 2016 18:58:40 GMT
Well crabbyoldgit , there's ~£143k available right now so I don't think your 75p will present too much of a problem if you want to put a buy order in  . EDIT: Perhaps it's not that "available" right now. We'll see. EDITEDIT: I put a buy order in and it went through fine. There's still >£140k left. |
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mikes1531
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Post by mikes1531 on Mar 11, 2016 22:24:05 GMT
With the interest rate being so low, I'm not at all surprised that it would be undersubscribed. It could take some time before the amount available is absorbed.
I expect that many people will look at the 8% offered on this loan and opt to put their money into the GEIA or GBBA instead, deciding that the automatic diversification and Provision Fund coverage are worth more than the 1% reduction in return.
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Post by crabbyoldgit on Mar 19, 2016 7:00:06 GMT
Please, enlightenment required , loan 246 , 17% ltv on 3 houses, 8.5 % interest why so high compared to the 3 other offerings on the same day at 7%.Seems to good to be true unless this is related to the minium term of 3 months which is likely to be achieved or exceeded.Unless someone here can show me what i am missing the piggy bank is bacon  |
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pikestaff
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Post by pikestaff on Mar 19, 2016 7:55:36 GMT
Please, enlightenment required , loan 246 , 17% ltv on 3 houses, 8.5 % interest why so high compared to the 3 other offerings on the same day at 7%.Seems to good to be true unless this is related to the minium term of 3 months which is likely to be achieved or exceeded.Unless someone here can show me what i am missing the piggy bank is bacon I think the rate is a function of the short term, and was set when it was expected that security would be on only 1 of the 3 houses. The only catch is it's likely to be well over-subscribed.
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am
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Post by am on Mar 19, 2016 9:09:31 GMT
What was interesting about the new wind turbine was that I asked for £1000 and got £999.9999999999999999999999999999999999900000. chris , I can see why you can get funky numbers post the decimal point as you pick up shrapnel on MLIA, but on a new loan draw down that strikes me as a bit odd. Am I missing something? I originally assumed that it was a consequence of using floating point rather than fixed point numbers to represent values, but I would have thought that any sensible floating point implementation could represent £1000 correctly.
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bigfoot12
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Post by bigfoot12 on Mar 19, 2016 10:24:16 GMT
What was interesting about the new wind turbine was that I asked for £1000 and got £999.9999999999999999999999999999999999900000. chris , I can see why you can get funky numbers post the decimal point as you pick up shrapnel on MLIA, but on a new loan draw down that strikes me as a bit odd. Am I missing something? I originally assumed that it was a consequence of using floating point rather than fixed point numbers to represent values, but I would have thought that any sensible floating point implementation could represent £1000 correctly. You don't own £1000 of the loan you own a certain fraction of the whole loan.
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paulgul
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Post by paulgul on Mar 19, 2016 15:43:48 GMT
Please, enlightenment required , loan 246 , 17% ltv on 3 houses, 8.5 % interest why so high compared to the 3 other offerings on the same day at 7%. I don't understand why anyone would invest in the 3 loans at 7% when you can get the same return in GEIA or GBBA with the added provision fund - perhaps I'm also missing something
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shimself
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Post by shimself on Mar 19, 2016 19:06:22 GMT
Please, enlightenment required , loan 246 , 17% ltv on 3 houses, 8.5 % interest why so high compared to the 3 other offerings on the same day at 7%. I don't understand why anyone would invest in the 3 loans at 7% when you can get the same return in GEIA or GBBA with the added provision fund - perhaps I'm also missing something Me neither. Well if the platform goes bust and the PF is wiped out but this loan is ok then I suppose you might be better off
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bg
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Post by bg on Mar 19, 2016 20:21:40 GMT
Please, enlightenment required , loan 246 , 17% ltv on 3 houses, 8.5 % interest why so high compared to the 3 other offerings on the same day at 7%. I don't understand why anyone would invest in the 3 loans at 7% when you can get the same return in GEIA or GBBA with the added provision fund - perhaps I'm also missing something Because security on a BTL loan is generally considered one of the best there is (as opposed to debtors, commercial property etc). These loans aren't available to the GBBA or GEIA so if you want the exposure you have to invest directly.
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registerme
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Post by registerme on Mar 20, 2016 0:13:37 GMT
I don't understand why anyone would invest in the 3 loans at 7% when you can get the same return in GEIA or GBBA with the added provision fund - perhaps I'm also missing something Because security on a BTL loan is generally considered one of the best there is (as opposed to debtors, commercial property etc). These loans aren't available to the GBBA or GEIA so if you want the exposure you have to invest directly. Plus diversification reasons (asset class and possibly platform), plus "buying to sell down" in that it beats the QAA in terms of return.
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Post by crabbyoldgit on Mar 21, 2016 7:38:41 GMT
Wow, upcoming loans lists property investment 0% ltv!!!.How does that work , borrower deposits full amount of loan in cash with ac and then pays 9% interest when we give it back?.I like this risk free deal, well at least on capital, give me loads  . |
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sl75
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Post by sl75 on Mar 21, 2016 8:45:03 GMT
Wow, upcoming loans lists property investment 0% ltv!!!.How does that work , borrower deposits full amount of loan in cash with ac and then pays 9% interest when we give it back?.I like this risk free deal, well at least on capital, give me loads . It shows it as secured against a personal guarantee with approx value zero, and nothing else. If that's the kind of loan you like, there are other sites with plenty! The site is presumably configured to show zero in case of an error (i.e. division by zero), rather than some confusing string like 1.#INF000 or #DIV/0! or Infinity or similar (exact string depending on underlying implementation), which seems more likely to break stylesheets, parsers, etc. I guess the LTV column shows a blank only when none of the security has been added to the loan, and at some point a property will be added to the security (at which point the LTV will be able to calculate correctly).
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ilmoro
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'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 24, 2016 22:24:58 GMT
Either todays drawdown has stalled or this is most unpopular loan ever, a staggering £13k so far taken up by lenders
Too may loans or too low rates?
I hate to think how the three 7% BTLs will fair if they make it over the line tonight
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SteveT
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Post by SteveT on Mar 25, 2016 7:46:20 GMT
Security looks Ok, despite the borrower's history, but I guess most MLIA lenders aren't interested at that rate and presumably it's ineligible for GBBA. I hope the QAA didn't gulp too much of this one as I can't see it being very liquid ever!
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