spyrogyra
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Post by spyrogyra on Sept 28, 2015 11:01:09 GMT
...and on top of this the company is not local...
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Post by ratrace on Sept 28, 2015 11:01:22 GMT
A other fixed rate loan has turned this time its a A loan for 52K.
Wait! it looks like a other A loan for 30K has just turned up as l write.
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adrianc
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Post by adrianc on Sept 28, 2015 11:05:52 GMT
I don't think that Joe down the road will be very happy if he knew that the council is throwing thousands in unsecured loans to private companies rather than spend more money for the immediate needs of the community. 2K on a single loan is quite a lot,isn't it? Any council is going to have a sizable (well into the millions) reserve to be invested. If they've got a half-sensible diversification policy in place, I don't see any reason why some can't be placed in P2P investments, just like anybody else would. www.shropshirestar.com/news/2015/03/09/shropshires-two-council-hold-140m-in-reserves/Probably not atypical. I can't find an easy figure for Tandridge, but they had over £4m in their housing reserves alone at the start of the financial year. A lot of councils had millions in the Icelandic banks, pre-crash. www.bbc.co.uk/news/uk-england-kent-15500248
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registerme
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Post by registerme on Sept 28, 2015 11:11:11 GMT
I don't think that Joe down the road will be very happy if he knew that the council is throwing thousands in unsecured loans to private companies rather than spend more money for the immediate needs of the community. 2K on a single loan is quite a lot,isn't it? Any council is going to have a sizable (well into the millions) reserve to be invested. If they've got a half-sensible diversification policy in place, I don't see any reason why some can't be placed in P2P investments, just like anybody else would. www.shropshirestar.com/news/2015/03/09/shropshires-two-council-hold-140m-in-reserves/Probably not atypical. I can't find an easy figure for Tandridge, but they had over £4m in their housing reserves alone at the start of the financial year. A lot of councils had millions in the Icelandic banks, pre-crash. www.bbc.co.uk/news/uk-england-kent-15500248This is actually where I see something like the investment trust being really useful. Council politicians having funds at their disposal to invest in local champions or pet projects etc I am less convinced of......
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arbster
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Post by arbster on Sept 28, 2015 12:11:41 GMT
This is actually where I see something like the investment trust being really useful. Council politicians having funds at their disposal to invest in local champions or pet projects etc I am less convinced of...... Come to think of it, the risk of conflicts of interest, whether real or perceived, must be pretty high.
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registerme
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Post by registerme on Sept 28, 2015 13:10:05 GMT
Yep. Even if it's council x scratching council y's back in return for a similar favour.... It really should be as hands off as possible.
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spyrogyra
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Post by spyrogyra on Sept 28, 2015 13:33:38 GMT
I've already spotted the great difference. If lenders not using bots had a small chance to place bids on the some easily resale-able loans, it won't be possible anymore. The website logged me out as the E loan showed up and B.z...a got most of it in 2 minutes.
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TitoPuente
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Post by TitoPuente on Sept 28, 2015 13:35:30 GMT
Ah, another one .. 16028 (E) now has 20% of bids in (BBB?) at less than the previous MBR!! ... but will that be enough of a reduction to get them to accept?! 16028 closed last Thursday 24th at MBR 18.2%.... and reopened early this morning with a 18.1% band, and has bids placed at 14.29 today. What's going on? Am I missing something?
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arbster
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Post by arbster on Sept 28, 2015 13:41:38 GMT
... but will that be enough of a reduction to get them to accept?! 16028 closed last Thursday 24th at MBR 18.2%.... and reopened early this morning with a 18.1% band, and has bids placed at 14.29 today. What's going on? Am I missing something? I think what happened here is that the loan was found to be ineligible for the 10% from the British Business Bank Programme and so needed to re-open to fill up that missing funding. Very strange behaviour, but that's the only explanation I can come up with.
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TitoPuente
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Post by TitoPuente on Sept 28, 2015 13:46:04 GMT
16028 closed last Thursday 24th at MBR 18.2%.... and reopened early this morning with a 18.1% band, and has bids placed at 14.29 today. What's going on? Am I missing something? I think what happened here is that the loan was found to be ineligible for the 10% from the British Business Bank Programme and so needed to re-open to fill up that missing funding. Very strange behaviour, but that's the only explanation I can come up with. But my bids that where in at 18.2% last week were rejected today by other bids at 18.1%
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arbster
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Post by arbster on Sept 28, 2015 13:48:03 GMT
I think what happened here is that the loan was found to be ineligible for the 10% from the British Business Bank Programme and so needed to re-open to fill up that missing funding. Very strange behaviour, but that's the only explanation I can come up with. But my bids that where in at 18.2% last week were rejected today by other bids at 18.1% In that case, it sounds like a bug or operator error - might be worth an email to FC to ask for an explanation.
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min
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Post by min on Sept 28, 2015 14:11:08 GMT
But my bids that where in at 18.2% last week were rejected today by other bids at 18.1% In that case, it sounds like a bug or operator error - might be worth an email to FC to ask for an explanation. Noticed the same and have emailed Financial Cretins asking for my £20 bid at 18.2% to be re-instated. Looks like another Familiar Cockup. Wasn't the 10% of BBB that they needed - £36000 of £84000 is at 18.1%. £31000 of bids at £18.2% were knocked out. That could take some sorting!
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Post by goldservice on Sept 28, 2015 14:20:55 GMT
18.1% just happens to be the new fixed rate for E over 60m. It's as if it behaved like an open fixed rate loan for a spell.
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min
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Post by min on Sept 28, 2015 14:30:54 GMT
18.1% just happens to be the new fixed rate for E over 60m. It's as if it behaved like an open fixed rate loan for a spell. i.e. somebody at Fumbling Cretins has screwed up again.
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