acky
Posts: 481 
Likes: 262
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Post by acky on Jul 13, 2016 12:51:14 GMT
Count me in at 10% AND 2% CB! No CB yet but your 10% is here as West Molesey Kent 1 But it's an A and only 6 months. And 81% LTV. Rate is too low for a bridging loan with such high LTV, so don't think that will be exercising my clicking finger very much.
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venus
New Member
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Post by venus on Jul 13, 2016 13:02:34 GMT
Molesey business plan looks very ambitious to me:
Buying the house for 550k
Value of house after some minor refurb but without garden: 625k
Keep plot valued at 200k without planning permission
Spend 180k for building new house
Value new house at 725k
> 800k profit
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Jul 13, 2016 14:23:25 GMT
I've bought a little because it's 10% and the interest is secure. But if I planned to keep it to repayment it would be no thanks.
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acky
Posts: 481
Likes: 262
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Post by acky on Jul 15, 2016 14:27:01 GMT
So, North Devon 9 has now been relisted on the same terms at which it failed dismally to fund a week ago. I wonder why FC think it will fund this time - must be a whole lot more Autobodge money about, or perhaps they've worked out a different Autobodge algorithm that will ensure this gets the maximum attention. No sign of it, it's first overnight funding run got it to basically the same state of the previous attempt at North Devon 9 - about 15%. Be interesting to see how it pans out but I can't see FC getting this away and even if they do they've still got to find lots more to complete the development. The questions being asked (and, of course, not answered) don't indicate much enthusiasm for it amongst active bidders. And it's been pulled again. Didn't even get to 40% this time. Wow - you do the same thing and you get the same result - who could ever have foreseen that? So now is it time for CB or a 10% A+?
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kt
Posts: 105
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Post by kt on Jul 15, 2016 15:36:02 GMT
A sign of things to come in property? Alternatively FC are running out of consumer money and we will see a move to more CB  KT |
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fp
Posts: 1,008
Likes: 853
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Post by fp on Jul 15, 2016 15:57:30 GMT
Interesting to note the comments on here, i'm quite new to P2P and FC being the first place I dipped my toe in so to speak. I looked at property loans and bearing in mind they were secured on the property looked to be a reasonably safe loan to take on. Needless to say I have invested a good chunk of my FC total in them, but over the past few weeks, seeing comments on both here and FC's own forum have sold almost all of them off, all except the 10% ones, which I have no doubt I will also sell at some point in the next few weeks bearing in mind I can get 12% on several other sites for similar risk.
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Post by hj on Jul 18, 2016 16:14:59 GMT
Luton 7 at 10% anyone?
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acky
Posts: 481
Likes: 262
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Post by acky on Jul 20, 2016 12:40:38 GMT
It sure beat Luton 8 @ 9%. Think Luton is the first loan to have three different rates. Feel sorry for the Autobodgers who got landed with the 8% tranches .... oh dear, no I don't.
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