nick
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Post by nick on Oct 20, 2015 9:18:17 GMT
Keep an eye on 16461 today - £14k to go in 5 hours, and it's been averaging about £6k per day for the last 4 days. 2% cashback costs them £5,000 and continues a precedent they probably don't want, but saves them a further loss of investor goodwill. It'll be interesting to see what decision they make. 1% CB would have seen them home if they'd put it on before now - the fact that they haven't tells me that they're planning on the Office Junior doing a bit more Frantic Clicking in the last few minutes. Well they must have been listening - 1% CB has just been slapped on!
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nick
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Post by nick on Oct 20, 2015 9:24:11 GMT
1% CB would have seen them home if they'd put it on before now - the fact that they haven't tells me that they're planning on the Office Junior doing a bit more Frantic Clicking in the last few minutes. Well they must have been listening - 1% CB has just been slapped on! 1% CB has just been slapped on a couple of other larger loans which would have otherwise struggled to limp over the line.
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Post by mostlywrong on Oct 20, 2015 9:38:06 GMT
Keep an eye on 16461 today - £14k to go in 5 hours, and it's been averaging about £6k per day for the last 4 days. 2% cashback costs them £5,000 and continues a precedent they probably don't want, but saves them a further loss of investor goodwill. It'll be interesting to see what decision they make. Is there anything obviously wrong with this loan other than the size and the not particularly appealing net interest rate? I have considered this but I don't like the wafer-thin margins, the explosion in borrowed money and that my cash will be tied up for 4 years @ 8.3% with just a Director guarantee. Nor do I know what they do... MW
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Post by betterthanworking on Oct 20, 2015 9:43:15 GMT
just added on the Q & A tab: FC will purchase any remaining loan parts at the end of the auction.
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min
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Post by min on Oct 20, 2015 9:54:31 GMT
Well they must have been listening - 1% CB has just been slapped on! 1% CB has just been slapped on a couple of other larger loans which would have otherwise struggled to limp over the line. Still won't tempt me.
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Post by aloanatlast on Oct 20, 2015 10:08:26 GMT
Is there anything obviously wrong with this loan other than the size and the not particularly appealing net interest rate? FC have never been able to fill a large loan without relying on diversity criminals - not just the high-frequency flippers but also the default-dodgers who buy a bunch to sell in 6 months. Without those, they need to get more lenders into a loan than they ever have. But where's the incentive now to commit diversity crime on an 8.3% A+? The SM is up to 9.5%, confidence in A+ ratings is shattered by the recent slew of dross, and we aren't too sure there'll even be an SM in 6 months. In fact I feel like an idiot for allowing myself to be tempted by the cashback. (The little ray of sunshine is that only £15K is in the hands of fast flippers, so they should offload easily enough without ruinous discounting.)
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Post by aloanatlast on Oct 20, 2015 12:18:41 GMT
1% CB has just been slapped on a couple of other larger loans which would have otherwise struggled to limp over the line. But the flippers who filled their boots with the A+48 haven't shown much interest in the other two. Somebody called N*ck bought 50 of the A+48 but only 10 of the B. If they want flippers to take £100K of the B and compete to offload it into a buyer's market, it'll take more than 1%. Might take more than 2%.
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Post by GSV3MIaC on Oct 20, 2015 14:14:50 GMT
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ablender
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Post by ablender on Oct 20, 2015 14:27:14 GMT
There is too much going on beneath the hood. Their transparency seems to be equivalent to a thick concrete wall.
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Post by Deleted on Oct 20, 2015 14:53:02 GMT
able, note they don't talk to us.... Editprobably should have said "listen"  |
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Post by GSV3MIaC on Oct 20, 2015 15:26:57 GMT
able, note they don't talk to us.... Oh but they do, they keep telling us about their transparency, and how they listened to us when we told them more fixed rate auctions would be OK with us ... Oh and how the API, new forum, etc would be along any day soon, as well as the financials getting put back in the loan book (with more detail) .. and .. and .. oh wait, I must have 'gullible' stamped on me somewhere, right?!
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Post by aloanatlast on Oct 20, 2015 15:46:11 GMT
And something we learn from the other place is that property loan parts taken up by FC are sometimes sold on.
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registerme
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Post by registerme on Oct 20, 2015 15:56:19 GMT
Interesting, they said, very clearly, at the July investor evening, that they did not sell on property parts. Got a link to the thread in the other place?
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Post by GSV3MIaC on Oct 20, 2015 16:00:58 GMT
Same link as upthread here will take you to the right place. I'm not sure they have said they HAVE, just that they MIGHT or COULD or similar. afaik nobody has yet bought a loan part where the seller was FC financial solutions, or whatever they are called (not that many people I know here actually BUY loan parts at par .. or do you?!).
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blender
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Post by blender on Oct 20, 2015 17:37:05 GMT
Same link as upthread here will take you to the right place. I'm not sure they have said they HAVE, just that they MIGHT or COULD or similar. afaik nobody has yet bought a loan part where the seller was FC financial solutions, or whatever they are called (not that many people I know here actually BUY loan parts at par .. or do you?!). Good for you, GSV - hold them to account.
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