blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 19, 2016 8:32:53 GMT
Dismayed by FC's management of the end of life of property loans, have just sold at par 10% A+ loan parts which will enter a vegetative state tomorrow. Pleased to see that these have mostly been gobbled by a greedy bot. No doubt attracted by the final flush of a 10% rate, the bot will find the parts will become unresponsive tomorrow and a fee will be charged. Of course they may repay early, but whether early or late the bot will not care or even know if it gets late interest, or not. So we are both happy about the deal. Not happy with FC, though. A disgrace. There are other platforms.
Best to leave FC to the Trust, the Autobidders, and the circling vulture-bots.
|
|
dorset
Member of DD Central
Posts: 281 
Likes: 187
|
Post by dorset on Jun 20, 2016 9:31:48 GMT
Most of the risk in an interest only property loan arises at the end of the loan period. Its a bit of a no brainer to sell out at par with 3 or so payments left to go. Been doing this for some time and the loans all go within the hour (£20 instantly but some £160 loans took several hours). If investors use bots and autobid then this is what happens.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 20, 2016 10:10:03 GMT
Chameleons have very small brains and this one was tempted to hold on to some 12% loans past the point of no return - even hoping for early repayment. There being nothing else worth buying. Never again.
The latest batch seem to be going at +0.2%, one month and a day before due repayment. Not so bad - and there was 2% cash back on a 12m A+ 10% loan. Those were the days.
|
|
happy
Member of DD Central
Posts: 397
Likes: 497
|
Post by happy on Jun 20, 2016 10:51:14 GMT
I only use FC for property now and always sell on with 2 payments to go, try +.3/+.2/+.1 for a week and then if they don't sell they always disappear in minutes or hours at par. Forgot to do this with Cornwall though! Feigning Concern promise it will pay by the end of the month  |
|
kt
Posts: 105 
Likes: 39
|
Post by kt on Jun 20, 2016 13:59:56 GMT
I do sometimes wonder the effect a Brexit might have on property prices but then I realise that I've never understood the continued growth in the first place, so fearing a fall is probably misplaced.
KT
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 20, 2016 14:07:18 GMT
That's such a comfort, kt. I also worried about Brexit when my London loans were not repaid. But then Wolverhampton also did not repay and prices there would be much less sensitive to Brexit. So I decided to blame Failing Collections.
|
|
