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Post by savingstream on Sept 28, 2015 14:07:10 GMT
Dear All,
We are offering 0.5% cashback on PBLs 59,60 and 61 as we need to complete on them asap.
Cashback will apply to all investors who hold these loans on the date of completion.
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registerme
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Post by registerme on Sept 28, 2015 14:32:09 GMT
Very minor point but the email said "We are please to announce...." instead of "..pleased...". It just makes things a look a little rushed / unpolished.
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SteveT
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Post by SteveT on Sept 28, 2015 14:35:12 GMT
Very minor point but the email said "We are please to announce...." instead of "..please d...". It just makes things a look a little rushed / unpolished. Pendant! 
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registerme
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Post by registerme on Sept 28, 2015 14:37:56 GMT
Yeah, but if I'd caught something numeric like that you'd have given me a thumbs up, and, err, I did think about making a joke out of your deliberate miss-spelling but decided against it  . |
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arbster
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Post by arbster on Sept 28, 2015 14:52:40 GMT
I'm interested to note that the bridging loan particulars for all three of the loans in question indicate that Lendy Ltd has full underwriting in place. Does that mean that Lendy had underwriters to cover the individual loans, but not for the sum of all three loans drawing down together? Or does it not actually have underwriters in place after all?
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registerme
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Post by registerme on Sept 28, 2015 14:57:51 GMT
Or that a 0.5% cashback is cheaper than the underwriting fee....?
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Investor
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Post by Investor on Sept 28, 2015 15:00:32 GMT
The 0.5% doesn't seem to be sufficient to have caused much of an influx of cash into these in the first hour. Would anticipate it would need a minimum of 1.5% at the current takeup rate to get these loans fully funded. Would think that kind of rate would cause some 'mature' investors sitting on some of the better earlier loans to flip them on the SM which would be bought by newer members, who already have their fill in these later loans and are looking to diversify. This is what would be required to significantly increase the overall pot of cash tied up in SS.
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Liz
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Post by Liz on Sept 28, 2015 15:03:50 GMT
Very minor point but the email said "We are please to announce...." instead of "..please d...". It just makes things a look a little rushed / unpolished. Pendant! *Pedant!
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bjorn
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Post by bjorn on Sept 28, 2015 15:52:44 GMT
The 0.5% doesn't seem to be sufficient to have caused much of an influx of cash into these in the first hour. Would anticipate it would need a minimum of 1.5% at the current takeup rate to get these loans fully funded. Would think that kind of rate would cause some 'mature' investors sitting on some of the better earlier loans to flip them on the SM which would be bought by newer members, who already have their fill in these later loans and are looking to diversify. This is what would be required to significantly increase the overall pot of cash tied up in SS. The selling down of older loans does seem to be happening to some extent - there's been a definite jump in availability across quite a spread of loans over the last hour or so. I guess for existing investors who are already reasonably well diversified, there are a few things that are currently competing for their funds. Notably the AR announcement about a new 14% container loan which seems to have come out at a surprisingly similar time (not guessing about whose announcement prompted whose or even whether that's what happened but it wouldn't surprise me). In addition, FS have a 13%-er in the pipeline and Ed at MT has been making noises about some new things coming soon, as soon as today or tomorrow. And then specifically on cashback, there are still a few days left for the 15% cashback on £1000 at Lending Crowd. So ... lots of options!
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Post by Deleted on Sept 28, 2015 15:58:02 GMT
This came as a nice surprise when I got the email today.
I pre-funded a 4 figure sum in each of these loans and now I'm going to get 0.5% cashback on top that I hadn't expected.
I may have a look and be tempted into investing a little bit more now.
Signed:
A happy SS investor.
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mikes1531
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Post by mikes1531 on Sept 28, 2015 16:07:17 GMT
In addition, FS have a 13%-er in the pipeline ... I don't think the upcoming 13% FS loan would have any affect on SS. Firstly, it's for only £90k, which is but a drop in the SS ocean. And secondly, I'd expect the FS loan to be offered initially with an investment limit or probably £1k. There might not be much of that left for big hitters to pounce on when the limit is lifted after 24 hours, though OTOH there might be since at the moment FS are trying to fill a £455k loan (at 12-15% depending on the amount invested) and it seems to be taking a while..
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Post by red_panda on Sept 28, 2015 16:40:26 GMT
suddenly a majority of the loans are available on the secondary market , so much green  |
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Post by nickthefool on Sept 28, 2015 16:48:06 GMT
Not much being bought though. Or at least, not the two parts I put up for sale (£100 each, in loans where previously £0 was available).
If I buy £100 in each loan, will my parts count as having been sold (so that I can continue to get interest on them)?
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Investor
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Post by Investor on Sept 28, 2015 17:52:12 GMT
Also need to factor in that post drawdown these 3 loans we be by far the least sellable pebbles on the SM, probably for some time. Any attempt to sell them will also lose interest for the sale period, recovering some coffers for SS. Hence you may find that there are a number of people currently selling these off pre drawdown as the 0.5% bonus may not outweigh their views on maintaining liquidity. If memory serves, last time this happened many aeons ago SS had to increase the CB to maintain the sale.
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mikes1531
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Post by mikes1531 on Sept 28, 2015 18:07:29 GMT
Not much being bought though. Or at least, not the two parts I put up for sale (£100 each, in loans where previously £0 was available). If I buy £100 in each loan, will my parts count as having been sold (so that I can continue to get interest on them)? AIUI... If you're at the front of the selling queue then you'll be buying your own parts back so, yes, that will stop your loss of interest. Before you buy, though, check your list of Selling/Sold loan parts to make sure nothing is partially sold already. If it is, then you only need to buy back the portion that remains unsold. HTH
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