fasty
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Post by fasty on Oct 22, 2015 22:00:00 GMT
Some excitement and trepidation about the E band here. I currently have two, a third is having a long think about taking the loan. One of the two makes its first payment tomorrow, or more accurately FC either has the money and will pay it tomorrow (system permitting) or we go into processing. The other one makes its first payment on 28th (fore-toes crossed). £1000 over these two, and so of some importance. Tomorrow's is expansion and growth - the normal ambition expected from a borrower, but that on 28th is only growth - so where is the expansion, I worry? At least neither are working capital, aka fix a hole in the balance sheet for a few months while we think what to do. If they both pay then, barring a credit event, I will not be going through this worry with these loans again. (Ok it's a stream of conciousness being shared here, but not bad for a chameleon.) I've already disposed of three "E"'s that started to look prematurely unsavoury for one reason or another during only the first couple of months. They are definitely starting to lose their shine for me. I might just revisit those entitled "working capital" in light of your words of wisdom.
Through laser-focussed attention to the loan requests screen, I had six "E"'s outstanding in "My Bids" at one point, but four of those have finally dropped out after procrastinating for what feels like an eternity. What a waste of time. Much to my surprise, one (16403?) seems to have just drawn down <hurrah> and I now await the fate of 16551. Definitely not worth staring at the screen 'til yer eyes bleed.
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fasty
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Post by fasty on Oct 22, 2015 22:55:01 GMT
Some excitement and trepidation about the E band here. I currently have two, a third is having a long think about taking the loan. One of the two makes its first payment tomorrow, or more accurately FC either has the money and will pay it tomorrow (system permitting) or we go into processing. The other one makes its first payment on 28th (fore-toes crossed). £1000 over these two, and so of some importance. Tomorrow's is expansion and growth - the normal ambition expected from a borrower, but that on 28th is only growth - so where is the expansion, I worry? At least neither are working capital, aka fix a hole in the balance sheet for a few months while we think what to do. If they both pay then, barring a credit event, I will not be going through this worry with these loans again. (Ok it's a stream of conciousness being shared here, but not bad for a chameleon.) Hold on a moment, is it "Expansion and Growth" 15724 that you're referring to? That is, "Expansion and Growth" as in "...This loan will be used as working capital..." What were you just saying about working capital? Were you having a green day?
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blender
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Post by blender on Oct 23, 2015 8:29:44 GMT
Hold on a moment, is it "Expansion and Growth" 15724 that you're referring to? That is, "Expansion and Growth" as in "...This loan will be used as working capital..." What were you just saying about working capital? Were you having a green day?
That's the one, and they paid, appearing on a secondary market stall near you in a couple of weeks. It's about the imagination and ambition displayed by the E borrower. Expansion and Growth, or even just one of them, requires working capital. But so does trying to keep a cash-losing business afloat for a bit longer. The trick is to distinguish between the two in these E loans (if you keep them). The E borrower who just titles the loan working capital (meaning attempted recovery) is definitely to be avoided, especially if there are director loans to the business which need to be repaid quickly. Expansion and growth is the choice of the E borrower who is at least bright enough to know what he/she is about. It's a pink day now that 15724 has paid. ( I have some cash for that E loan 'We torture Bambi' mentioned by aloanatlast, if someone will post when it arrives - or Bambi's mother will do. I await 'Traffic Expansion and Growth Loan' for a profitable people-smuggling business.)
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Oct 23, 2015 9:57:16 GMT
GSV: "If you just want a bell to ring when a new auction appears, there are several off the peg solutions." I will share all of what little I know: I use browser extensions Refresh Monkey and Page Monitor in Chrome on Mac to ring that bell. Thanks!!! Page Monitor rocks, superlike for you! Excited newbie 
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jimbob
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Post by jimbob on Oct 23, 2015 10:35:07 GMT
OK I've managed to sell a property loan part. But it is the one I had listed for 0.3% discount, not the one for 0.5% (They are otherwise identical) - how the hell does that work  |
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SteveT
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Post by SteveT on Oct 23, 2015 10:41:01 GMT
OK I've managed to sell a property loan part. But it is the one I had listed for 0.3% discount, not the one for 0.5% (They are otherwise identical) - how the hell does that work Autobid selects from "eligible parts" (that meet the lender's Autobid settings) at random, not "best available"
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Post by GSV3MIaC on Oct 23, 2015 13:47:38 GMT
Yep, "Yet Another Good Deal" (for autobiddies) from those Fine Constituents. I mean how hard is it to buy the best part (but of course it would damage the liquidity of autosale).
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Post by nickthefool on Oct 23, 2015 13:51:54 GMT
You'd think they could have at least coded it to buy the best part from the loan it's buying, even if it chooses the specific loan randomly.
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SteveT
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Post by SteveT on Oct 23, 2015 13:57:57 GMT
You'd think they could have at least coded it to buy the best part from the loan it's buying, even if it chooses the specific loan randomly. Those of us that list all our CB-laden parts for sale at par are quite happy with the way it works now!
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blender
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Post by blender on Oct 23, 2015 14:58:45 GMT
You'd think they could have at least coded it to buy the best part from the loan it's buying, even if it chooses the specific loan randomly. It works in this way because it works with Autosale to sell, at par, the portfolios of lenders who wish to sell all or part of their holdings. It's there to sell as well as buy and is not optimised for either. The 'consumer lender' does not want to get involved with 'sell individually' and premiums/discounts.
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fasty
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Post by fasty on Oct 29, 2015 10:57:31 GMT
16779 ( £156k "E" ) seems to be remarkably unpopular. Is it the slightly lower rate due to the shorter term that is putting people off? I bought a few parts but not many, concerned that the low rate might make it difficult to shift on the SM.
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Post by bonfemme on Oct 29, 2015 11:09:16 GMT
16779 ( £156k "E" ) seems to be remarkably unpopular. Is it the slightly lower rate due to the shorter term that is putting people off? I bought a few parts but not many, concerned that the low rate might make it difficult to shift on the SM. I didn't bother with it because there will be too much competition to flip it for quite a while. Isn't it the highest E yet?
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fasty
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Post by fasty on Oct 29, 2015 11:29:18 GMT
16779 ( £156k "E" ) seems to be remarkably unpopular. Is it the slightly lower rate due to the shorter term that is putting people off? I bought a few parts but not many, concerned that the low rate might make it difficult to shift on the SM. I didn't bother with it because there will be too much competition to flip it for quite a while. Isn't it the highest E yet? It may be one of the largest amounts, but the rate of 17.7% is lower than the majority of 5-year loans being offered recently at 18.1%. So many existing "E"'s are already flipping at around 17.7% on the SM
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jamesc
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Post by jamesc on Oct 29, 2015 11:35:16 GMT
16779 ( £156k "E" ) seems to be remarkably unpopular. Is it the slightly lower rate due to the shorter term that is putting people off? I bought a few parts but not many, concerned that the low rate might make it difficult to shift on the SM. I didn't bother with it because there will be too much competition to flip it for quite a while. Isn't it the highest E yet? 15041 Was the biggest at £214k but that was when we still had auctions and it was the only E that went for higher than minimum bid rate at 18.4.
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Post by aloanatlast on Oct 29, 2015 12:15:50 GMT
I didn't bother with it because there will be too much competition to flip it for quite a while. Isn't it the highest E yet? It may be one of the largest amounts, but the rate of 17.7% is lower than the majority of 5-year loans being offered recently at 18.1%. So many existing "E"'s are already flipping at around 17.7% on the SM
A premium of around 1% will knock an E60 down from 18.1 to 17.7%. The same premium on an E36 will knock it down from 17.7 to 17.0%. Don't fancy trying to sell at that price.
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