kt
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Post by kt on May 19, 2016 10:59:06 GMT
Is it just a perception or is there a noticeable slow down in auction bidding? It seems like loans are hanging around longer and there is even a chance to ask questions.
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fasty
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Post by fasty on May 19, 2016 12:35:16 GMT
I assumed that quite a few lenders must have frittered their funds away in the pursuit of fruit-themed incentives.
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bloodycat
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Post by bloodycat on May 19, 2016 13:25:29 GMT
There's very little appearing that I would be prepared to bid on.
The rates offered on anything less than 60 months are generally below what I would want for the risk.
The information provided on most of them is virtually non existent.
I'm not even going to consider bidding on anything where the most recent financials are 18+ months old.
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Post by jackpease on May 20, 2016 6:23:36 GMT
I had expected to scoop up loads of parts being sold at a discount after the Ipad offer - but this doesn't seem to be happening. If people are holding on to their investments then FC will be very pleased with themselves - perhaps reducing rates elsewhere eg Wellesley and Ratesetter mean that better the devil you know
JP
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acky
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Post by acky on May 20, 2016 13:36:43 GMT
Slowed down so much that they've just pulled a property loan that wasn't going to sell out in the 7 days. Wouldn't have happened in the iPad days. Looks like we're going to get another dose of the "reissued on more favourable terms to investors"! [which for any newbies means identical terms, just a smaller loan] For those hoping for CB, dream on!
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am
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Post by am on May 20, 2016 13:45:51 GMT
Slowed down so much that they've just pulled a property loan that wasn't going to sell out in the 7 days. Wouldn't have happened in the iPad days. Looks like we're going to get another dose of the "reissued on more favourable terms to investors"! [which for any newbies means identical terms, just a smaller loan] For those hoping for CB, dream on! I was wondering why Luton 4 had disappeared.
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bigfoot12
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Post by bigfoot12 on May 21, 2016 16:57:30 GMT
I had expected to scoop up loads of parts being sold at a discount after the Ipad offer - but this doesn't seem to be happening. If people are holding on to their investments then FC will be very pleased with themselves - perhaps reducing rates elsewhere eg Wellesley and Ratesetter mean that better the devil you know JP I think that autobid is still starved. I just dropped some of my cashback property loans to 0% premium and they all sold within hours. There still isn't that much available for autobid on the SM. As an aside why do you think that people will be selling for a discount now the offer is over? Whilst there might be some trimming of positions, anyone selling much at a discount would have been better off not bothering and simply buying an ipad.
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Post by wolfbag2 on May 21, 2016 19:53:43 GMT
I had expected to scoop up loads of parts being sold at a discount after the Ipad offer - but this doesn't seem to be happening. If people are holding on to their investments then FC will be very pleased with themselves - perhaps reducing rates elsewhere eg Wellesley and Ratesetter mean that better the devil you know JP Yeppers with you 100% by my reckoning the offer was worth like a 1% cashback
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Post by jackpease on May 22, 2016 5:35:21 GMT
As an aside why do you think that people will be selling for a discount now the offer is over? Whilst there might be some trimming of positions, anyone selling much at a discount would have been better off not bothering and simply buying an ipad. Well only because i imagine some others are like me - finding diminishing returns elsewhere, was planning to invest a bit more in FC anyway, 3yr old ipad tiring somewhat so why not switch money into FC to reach the £10k/£20k/£30k bar then dump to maintain diversification. But falling rates elsewhere have left me in no hurry to offload my higher than preferred stake in FC JP
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acky
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Post by acky on Jun 14, 2016 15:01:02 GMT
There's such a dearth of loans on the PM that a £25k C has just gone in 3 minutes. Is C the new E?
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fasty
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Post by fasty on Jun 14, 2016 16:31:59 GMT
There's such a dearth of loans on the PM that a £25k C has just gone in 3 minutes. Is C the new E? I was seriously starting to wonder whether everything had been "revalued" in the rating process, i.e. Loans previously rated A or B now achieving A+; the knock-on effect making "E" only appropriate for borrowers already teetering on the brink of bankruptcy.
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Post by GSV3MIaC on Jun 14, 2016 18:20:11 GMT
Remember the only definition of 'E' is that 'you will lose 8% of your capital on these loans', and I don't think FC have quite got there yet. Possibly they are out scouring the country for top tier lawyers and cornet crushers?
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bigfoot12
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Post by bigfoot12 on Jun 15, 2016 8:29:42 GMT
Remember the only definition of 'E' is that 'you will lose 8% of your capital on these loans', and I don't think FC have quite got there yet. Possibly they are out scouring the country for top tier lawyers and cornet crushers? I think that they are probably on target for that. I see just under 6% (by number) of loans I have examined (about half of all E loans) either late or worse. Not all will stay late, and there might be some recoveries, but these loans are not that old, and when I look at the default curves on statistics page I expect these to worsen. I haven't done a careful analysis yet as there isn't enough data for it to be significant.
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blender
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Post by blender on Jun 15, 2016 8:54:51 GMT
Volume does seem to be on a small decline, and it is not that whole loans are taking it. In the last 100 accepted there were 60 offered as partial and 40 as whole. And three of those were rejected. Anyone pleased to have taken a piece of E 23416, might have a look at the financials and consider why it was rejected. Not a keeper - as we say.
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Post by jackpease on Jun 15, 2016 9:40:42 GMT
I've noticed a sharp decline in secondary market parts since the Ipad offer started, which has persisted thereafter.
Wellesley and Ratesetter similarly - hints of similar at SS and we don't even have ISA's yet!
Jack P
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