|
|
Post by nickthefool on Aug 9, 2015 9:40:41 GMT
But for example selling at par after holding for around 25 days gives around 12% apr return after FC fees. Does that include the effect of your money not earning anything during the 7 day bidding period or the 7 day acceptance window? No, I forgot to factor in that you (currently) need to bid 7 days early to get them. You earn interest in the acceptance window though, provided it is accepted.
|
|
|
|
Post by goldservice on Aug 9, 2015 9:49:44 GMT
pepperpot, nickthefool and others: not sure whether you have allowed for this - a loan can go Risk Band Removed before the first repayment. This can happen at any time if for example a CCJ is discovered by Flippin’ Cautious. You can allow for this by sticking to your diversity maximum but it has to happen only once to take the shine off any early sell strategy.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 9, 2015 10:24:01 GMT
Quite right to point that out, and a potential problem with the E loans. The case in point is 4907, which lasted 6 days before FC found the undeclared pre-existing CCJs. They have improved their procedures (including upping the allowable level of CCJs!) but still there is no escape from 4907. They are making recovery payments but I would happily accept 40% to be shot of it.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on Aug 9, 2015 11:56:56 GMT
Quite right to point that out, and a potential problem with the E loans. The case in point is 4907, which lasted 6 days before FC found the undeclared pre-existing CCJs. They have improved their procedures (including upping the allowable level of CCJs!) but still there is no escape from 4907. They are making recovery payments but I would happily accept 40% to be shot of it. FC did not even notice the administration of the same borrower, rather it was publicly pointed out by a platform user - not an infrequent occurrence. As for CCJs, one of the A+ borrowers had a CCJ for c£30k appear and FC appeared to miss/ignore it completely.
|
|
