markr
Member of DD Central
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Post by markr on Aug 17, 2016 20:19:45 GMT
There's an 11% property refinance loan available now, 6 months, A rated, filling fast.
[Edit] It's the second tranche, first was taken as a whole loan.
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Post by Harland Kearney on Aug 17, 2016 21:36:31 GMT
Interesting, its obvious why FC have placed it as a 11 percent loan (10 percent after fee's to us). Very high LTV, short term and nothing but "interest" being shown by potential buyers. Either way, I won't be waiting around for the "backup option" that FC have stated, I'll be selling at 2 months before maturity.
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ptr120
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Post by ptr120 on Aug 19, 2016 16:14:05 GMT
Another tranch is available now, although already around 70% full
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adrian77
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Post by adrian77 on Aug 20, 2016 16:43:44 GMT
I have just flipped my holding - bought 19th sold 20th (lazy !) made 2p on £20 whilst I trial the software I am writing as FC's is just hopeless. 2p for 2 days on £20 is a very good return but most people just see the headline rate and pile in - I don't like the look of this one so glad to be out...
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adrian77
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Post by adrian77 on Aug 29, 2016 10:27:07 GMT
I spent 20 years in IT - very busy now as a property developer but I am writing my own but fairly simple software to keep track of FC holdings as their site is a joke. What I do is export the data in spreadsheet form and import it into MySql so I can keep track of the interest etc etc. FC is so poor now I am just playing the secondary market - I just don't have the time to write a commercial product - bit like FC !
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Sept 9, 2016 12:25:50 GMT
Hi adrian77.
How is your software programme going regard keeping a track on your remaining FC holdings?
I have discovered the easiest way for me is to go to the "Sell" section, select "sell loan parts" and do just that, meaning I have less to watch.
The Newquay loans saga has revealed the deficiency in FC's ability to communicate and / or take action. The secret third parties in the background was the last straw for me.
Hope all your investments are doing well.
Best wishes.
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SteveT
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Post by SteveT on Sept 9, 2016 13:45:57 GMT
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blender
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Post by blender on Sept 9, 2016 14:39:03 GMT
Hi adrian77.
How is your software programme going regard keeping a track on your remaining FC holdings?
I have discovered the easiest way for me is to go to the "Sell" section, select "sell loan parts" and do just that, meaning I have less to watch.
The Newquay loans saga has revealed the deficiency in FC's ability to communicate and / or take action. The secret third parties in the background was the last straw for me.
Hope all your investments are doing well.
Best wishes. See FC's Brexit stress test results linked to another thread:-
'In the former case, net yield for the existing loanbook was 6.4 per cent, while new loans were projected as delivering 5.8 per cent. These returns are projected in spite of 36 months of recession (beginning January 2017), SME failure rates doubling, and a 20 per cent fall in the House Price Index. This final point is important because a significant proportion of Funding Circle’s book is now comprised of property backed loans.'
This combined with the difficult experience evidenced on another place might indicate a pause for reflection before marching on with property. Just because they will not communicate, does not mean that senior management are unaware of possible future problems. What proportion of the book should be property? How should they evaluate security going forward? Good questions.
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sussexlender
Member of DD Central
Cheat seeking missile
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Post by sussexlender on Sept 11, 2016 17:37:44 GMT
SteveT; Many thanks for the very kind welcome message above.
If one of the threads from the FC internal forum is correct, it seems that FC have made a decision not to advance any more property loans at the moment because "the pipeline is full".
No announcement has been made by FC so anyone will need to treat the "information" with care but a look at the loans on offer recently demonstrated no new property loans. I do feel that they were rather optimistic with the completion period of many of the loans and see that the last few that did appear were for a more realistic 18 months.
Some of the property loans have repaid early - no complaints on that score; but with the late loans there has been a break down in communication on a few of the loans with unusual issues such as mystery third parties joining in the development.
There has been no actual default as yet and no one wants to see that happen. I can only speak for myself - I really hope FC can make speedy adjustment to the way they handle property loans (current and any new ones). The platform had been my major P2P investment area but have since found a number of others, having discovered THIS independent forum which is so helpful 
Best wishes 
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am
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Post by am on Sept 12, 2016 0:00:01 GMT
SteveT; Many thanks for the very kind welcome message above.
If one of the threads from the FC internal forum is correct, it seems that FC have made a decision not to advance any more property loans at the moment because "the pipeline is full".
No announcement has been made by FC so anyone will need to treat the "information" with care but a look at the loans on offer recently demonstrated no new property loans. I do feel that they were rather optimistic with the completion period of many of the loans and see that the last few that did appear were for a more realistic 18 months.
Some of the property loans have repaid early - no complaints on that score; but with the late loans there has been a break down in communication on a few of the loans with unusual issues such as mystery third parties joining in the development.
There has been no actual default as yet and no one wants to see that happen. I can only speak for myself - I really hope FC can make speedy adjustment to the way they handle property loans (current and any new ones). The platform had been my major P2P investment area but have since found a number of others, having discovered THIS independent forum which is so helpful
Best wishes
The complaint in the other place was about commercial mortages, which were never very common at FC, and I haven't seen one for a considerable time. We'll have to wait and see if it applies more generally to property loans as a whole. BTW, I believe that the mystery 3rd parties weren't joining in the development - they were making an equity (or loan) investment in the holding company which was promising to apply that cash to repaying its debts to us (but somehow that didn't happen). Update: the first tranche of a development finance loan appeared today (13 Sep 2016).
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