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Post by bracknellboy on Apr 18, 2014 15:16:25 GMT
anyone know anythign about this loan ? Any adverse news on it ? I've spotted it on SM with A LOT of parts up for sale.
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wysiati
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Post by wysiati on Apr 18, 2014 15:54:23 GMT
It was one of the smaller 1% cashback eligible loans listed when rates were already falling back and it did not close early so with the achieved top rate and promotional cash in the bank it is probably an outright sell / marginal loan part for many bidders.
No obvious adverse news listed that I can see. There is a trend of capital withdrawal from the business (net assets value was >£500k in the FY05/2009 accounts) and some will not like the current ratio etc but the above would appear to be the more likely driver of disposals.
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blender
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Post by blender on Apr 18, 2014 21:19:11 GMT
I agree, people are probably farming it for the cashback. Also most of the net assets disappear if you remove the intangibles. Just not worth keeping it for the rate - there are better loans to buy. It may be that there are many parts unsold because people are not buying it on the SM.
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fasty
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Post by fasty on Apr 21, 2014 21:35:16 GMT
I won a few more loan parts of this one than I wanted. At first, they wouldn't shift on the SM even at par, but they're slowly starting to go now.
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