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Post by skint4achange on Nov 27, 2017 19:27:40 GMT
I did the same. I put £10 on the SM just to see if the CB gets paid out on it even though it is in the SM.
Will post results when I am a whole 10p up/down!!
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elliotn
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Post by elliotn on Nov 28, 2017 5:05:15 GMT
One possibility is parking relatively safely and then flipping before CB to avoid the SM queue ie settling for 12% 'only' (disclaimer - I considered this as I deem 1% insufficient compensation as a non tax payer to offest prospective illiquidity). The Q is likely too big for this although there were some dumps listed near the end of Arb CB tranche - someone will know if any unsold parts qualified and giving up 100k behind half a mill suggests you might. ( fp , not sure this affects you but have you considered/implemented any strategies for the recent CBs (or even the old'un days)? 😊 ).
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Post by GSV3MIaC on Nov 28, 2017 8:35:46 GMT
But afaict any purchase of this one right now will put your sale behind the £680k of unsold CB tranche, even if ahead (maybe, eventually) of the prior queue. I can't see how you could hope to strip CB, or even sell before it is paid, and get out alive/soon. For me it's definitely a 'plan to hold', but i'm not going to make much of a dent in that £680k.
Or did i misunderstand the current Ly complication scenario?
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Post by skint4achange on Nov 28, 2017 8:45:22 GMT
One possibility is parking relatively safely and then flipping before CB to avoid the SM queue ie settling for 12% 'only' (disclaimer - I considered this as I deem 1% insufficient compensation as a non tax payer to offest prospective illiquidity). The Q is likely too big for this although there were some dumps listed near the end of Arb CB tranche - someone will know if any unsold parts qualified and giving up 100k behind half a mill suggests you might. ( fp , not sure this affects you but have you considered/implemented any strategies for the recent CBs (or even the old'un days)? 😊 ). Can you explain to me what you mean about settling for "Only 12%"? If their loan parts are on the SM they get 0.00% inline with the Lendy rules on secondary market interest. I could understand if we were talking about loan parts on the non CB tranche, but this is the CB tranche which means they would have held the loan parts for less than 3 days before flipping it. Not much return there for 3 days at 12% and then sitting in a Q for 3 months.
Or am I missing/misunderstanding something here?
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elliotn
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Post by elliotn on Nov 28, 2017 11:15:07 GMT
One possibility is parking relatively safely and then flipping before CB to avoid the SM queue ie settling for 12% 'only' (disclaimer - I considered this as I deem 1% insufficient compensation as a non tax payer to offest prospective illiquidity). The Q is likely too big for this although there were some dumps listed near the end of Arb CB tranche - someone will know if any unsold parts qualified and giving up 100k behind half a mill suggests you might. ( fp , not sure this affects you but have you considered/implemented any strategies for the recent CBs (or even the old'un days)? 😊 ). Can you explain to me what you mean about settling for "Only 12%"? If their loan parts are on the SM they get 0.00% inline with the Lendy rules on secondary market interest. I could understand if we were talking about loan parts on the non CB tranche, but this is the CB tranche which means they would have held the loan parts for less than 3 days before flipping it. Not much return there for 3 days at 12% and then sitting in a Q for 3 months.
Or am I missing/misunderstanding something here?
Might not work on this one, the Arb CB tranche was for c30 days, I considered buying it and selling near the term in anticipation of an easy exit to a tax payer who could yield more from the CB than me ie trying to manufacture a relatively safe month-ish of 12% interest (only). That was c600k and sold out, 2M with a long queue is a whole different kettle of fish! I like the idea of re-listing and still getting the CB as holder - there were some big re-listings towards end of Arb - look forward to the investor feedback this time but as Mr Storey says only plausible game in town for this mega tranche is likely to be hold to term.
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Post by skint4achange on Nov 28, 2017 11:25:13 GMT
Ok, I understand what you mean about buying the 12% loan part and holding for a month, yes you could make some money and sell out relatively easily with someone hooked in by the cash back option. But, even if the person we are talking about in this tranche has purchased the whole £660k (In which case after 3 days they would have made £657 for a £660k investment) it still makes no sense as to why they are putting loan parts up for sale after 3 days? £660k could make you far more than that in ANY other loan without worrying about the cash back.
To me I can see no sense in selling after 3 days into a Q that may take weeks to exit.
I too like the idea of 1% back even if you are in the SM with the loan part. May bring a whole different aspect to these loans in the future??
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elliotn
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Post by elliotn on Nov 28, 2017 13:09:28 GMT
Possibly Ly or underwriter (Ly no longer hold loan parts directly) held some back until the Q was a bit shorter - although the unfunded amount was already a chunky >50% at go-live.
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jcb208
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Post by jcb208 on Dec 2, 2017 7:54:36 GMT
I take it that the cashback tranche has been fully invested as it has vanished from the SM
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garfield
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Post by garfield on Dec 2, 2017 9:09:48 GMT
I take it that the cashback tranche has been fully invested as it has vanished from the SM It will have been amalgamated with the main loan, once the cashback has been paid.
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ped
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Post by ped on Dec 2, 2017 13:55:00 GMT
Does anyone know what has or will have happened to the CB tranche unsold £650K. It does not look like it was added to the rest of the loan SM as we would expect. I am sure no BH came in at the 11hour and gobbled it all up. I can understand if there was an underwriter called upon or have Ly just removed it and are planning an new tranche with more CB for Christmas? Thoughts anyone.
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webwizard
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Post by webwizard on Dec 2, 2017 15:19:00 GMT
Interesting ...
I bought some of the tranche with CB after interest paid on 1 Dec and then was credited with £1.60 from cash back. I had thought that once the tranche with CB reached the end of the month that the opportunity for CB was lost, but it appears not.
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Post by mrclondon on Dec 5, 2017 0:52:43 GMT
Two new charges against our secured title have been registered by a non-p2p finance house and noted at CH last week.
a) Advance payment agreement in respect of [...] £12,000 to fund the costs of a valuation survey on the property
b) Agreement to secure costs of considering loan terms [...] a fee of £10,000
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jjc
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Post by jjc on Dec 5, 2017 10:34:43 GMT
Not been following closely but that (apparently) expensive funding offer could be read in a (even very) positive light. The £22k costs amount to just 0.15% of the o/s LY loan of £14.3m, & might well be worth the trouble if the borrower thinks the funder’s offer might have legs to it (they already have a term sheet iws). From a look at the new funding candidate’s (well-connected – G Sachs, DB, Citi, UBS etc – these sorta guys don’t get out of bed for a few shillings) directors’ profiles it seems they might have access to good pots of international money (perhaps beyond the provision of bridging facilities that seem to be their main line of business), & who knows could represent not only a temporary refi opp but the route to the ultimate exit funding / ownership partner, should that be required.
In which case the borrower (who I don’t know well but have heard is savvy) could be hitching himself onto a winning proposition, that helps us all exit the loan in due course.
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Post by skint4achange on Dec 17, 2017 11:45:55 GMT
There is a video on Youtube showing how this is going. Just google the name of the building and Wow factor.
I was a bit taken back when the developer stated that they were spending money like it is going out of fashion! That's my bloody money mate!
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blueninja
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Post by blueninja on Dec 17, 2017 17:00:40 GMT
There is a video on Youtube showing how this is going. Just google the name of the building and Wow factor.
I was a bit taken back when the developer stated that they were spending money like it is going out of fashion! That's my bloody money mate! The video give the impressions that its almost complete however this video was put on you tube on 11/02/2016 some 22 months ago!! Just shows that although pictures of a development help, you still need to be wary of them.
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