adrianc
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Post by adrianc on Sept 12, 2016 10:37:09 GMT
LC have just extended the two current auctions, according to the email just received.
The R***** P** C****** (A/60) is currently showing 57% of £106k raised.
* * & * * S***** (A/48) is currently showing 67% of £53k raised.
Both opened at 1pm on 6th, and are currently scheduled to close at 1pm tomorrow - 13th. They're being extended two days.
Whither the BHitting underwriters...?
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annie
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Post by annie on Sept 12, 2016 14:02:27 GMT
I had the same thought. After spoiling our rates on other loans (by bidding low to start and taking out higher bidders towards the end of the auctions) they are now absent. What do they know about these loans? Mind you, I was never keen on financing a corner shop to remove a boxing ring from his back store...which leads to another question. Why were people still bidding while there was an unanswered question? Maybe the question should be further up the screen so everyone is aware that something has been asked.
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Post by lionelrichtea on Sept 12, 2016 15:28:09 GMT
Although I'm not too fond of these mysterious underwriters, are these loans going to be filled without them? If you take them out of it then there's only 109 individuals bidding on the first and 82 on the second. How do those numbers compare to other similar platforms?
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Post by GSV3MIaC on Sept 12, 2016 17:30:59 GMT
Coming up for the first anniversary, so maybe the underwriters were only in for a year? As to number of bidders, it is rather small compared to most of the other sites I look at (but then so are most of the loans). LC had an opportunity to take a lot of lenders (if not borrowers) off FC's hands last year, but have basically not run with it, for a variety of reasons. The opaque SM, the under/over writing, the daft0.05% bidding step cashcade (and lack of dynamic autobidding), to name but a few. Be interesting to see who flees with their cash bonus once the 12 month lock in expires.
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adrianc
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Post by adrianc on Sept 12, 2016 18:54:23 GMT
Be interesting to see who doesn't flee with their cash bonus once the 12 month lock in expires. Corrected that for you... The annoying thing is that I'm actually getting a fairly reasonable return on the parts I'm holding - although that does rather assume that A****o does come good in the end...
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treeman
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Post by treeman on Sept 12, 2016 19:33:02 GMT
Coming up for the first anniversary, <SNIP> Be interesting to see who flees with their cash bonus once the 12 month lock in expires. I suspect many will want to make the attempt ............ I might just be one of them. Trouble is, it's going to need buyers to oil the process - If a lot try to scarper, who'll be buying ? - have you tried flogging anything on the SM ? SSSSSLLLLLOOOOOOWWWWWWWWWWW doesn't do it justice - I've had some parts (to diversify a bit from the initial 'get me a bonus' investments) on there for months...... More likely a trickle than a flood.
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TheDriver
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Post by TheDriver on Sept 13, 2016 8:45:35 GMT
In fact RPC was due to close on the 11th, and did show "finished" during the afternoon - but still accepted bids!
Given their previous record I don't think the usual backers are put of by the proposal, from the lack-of and strange amounts of their bids it looks as if they're scraping the barrel for funds - apart from the one who's more conservative. Maybe the extension to the 16th is because one (or more) of them predicts more funds being available?
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jimbob
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Post by jimbob on Sept 13, 2016 8:55:51 GMT
Coming up for the first anniversary, <SNIP> Be interesting to see who flees with their cash bonus once the 12 month lock in expires. I suspect many will want to make the attempt ............ I might just be one of them. Trouble is, it's going to need buyers to oil the process - If a lot try to scarper, who'll be buying ? - have you tried flogging anything on the SM ? SSSSSLLLLLOOOOOOWWWWWWWWWWW doesn't do it justice - I've had some parts (to diversify a bit from the initial 'get me a bonus' investments) on there for months...... More likely a trickle than a flood. Well the loans are all amortising so we should be out... eventually...
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