shimself
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Post by shimself on Oct 2, 2016 17:48:07 GMT
There are some loans on with very decent headline LTV, even though they only get (only!) say 6%.
My please for FS to improve the web listing, today it is offering me 124 pages to look through! I know you can order by LTV or Interest rate but still, some sort of filtering would be nice
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Post by moneymagnet on Oct 2, 2016 20:08:37 GMT
There is filtering available for all categories on the secondary market.
There is also a drop down box near the top left of the columns that lets you choose how many loans to view on the page, 10, 25, 50 or 100. I always click on 100 and that cuts down the 125 pages to 13 which makes it MUCH easier to take a look at what's on the SM.
To the right of the drop down box, there is a search box where you can enter a loan number, a word in the title of the loan, a pound amount, etc. This makes it very easy to find a particular loan.
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shimself
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Post by shimself on Oct 2, 2016 20:47:37 GMT
There is filtering available for all categories on the secondary market. There is also a drop down box near the top left of the columns that lets you choose how many loans to view on the page, 10, 25, 50 or 100. I always click on 100 and that cuts down the 125 pages to 13 which makes it MUCH easier to take a look at what's on the SM. To the right of the drop down box, there is a search box where you can enter a loan number, a word in the title of the loan, a pound amount, etc. This makes it very easy to find a particular loan. By filtering I mean select loans of over X days duration, with interest rates over Y and LTV under Z. And I think I have to plough through quite a lot of lines to find all possibles. Yes I agree 100 lines per page, I don't quite know why I wrote that I had actually found it. Thanks
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Investboy
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Post by Investboy on Oct 4, 2016 12:46:02 GMT
There are some loans on with very decent headline LTV, even though they only get (only!) say 6%. My please for FS to improve the web listing, today it is offering me 124 pages to look through! I know you can order by LTV or Interest rate but still, some sort of filtering would be nice I already asked about it a while ago. Basically fundingsecure are using javascript library to page/sort this table. With some more (few hours at most) work it is possible to add more advance filtration, regular expression filtering ect.
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shimself
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Post by shimself on Oct 4, 2016 14:07:33 GMT
There are some loans on with very decent headline LTV, even though they only get (only!) say 6%. My please for FS to improve the web listing, today it is offering me 124 pages to look through! I know you can order by LTV or Interest rate but still, some sort of filtering would be nice I already asked about it a while ago. Basically fundingsecure are using javascript library to page/sort this table. With some more (few hours at most) work it is possible to add more advance filtration, regular expression filtering ect. Well I rather suspected someone might have. The other thing I'd like on their list, is when we get loan notification emails I really would like something to click on to take me straight to the loan details. It takes a bit of discipline on their part, so the loan is in already in pending when the emails go out. As it is you can log in and the play hunt the loan (not always succesful) or you can sort of park the email until later. Worse, it seems to me that sometimes there is no interval at all between loan details being posted and bids being accepted, which encourages people to bid with doing DD. In general the website is very quick, other people should note
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Post by masterofimages on Nov 3, 2016 20:15:24 GMT
Since the SM launched last November, I've sold just over £67,000 of loan parts (£6,600 this month) and bought just under £13,000 of loan parts (£2,500 this month). I'm a basic rate tax payer. On a 12% loan the tax liability is the equivalent of a tenth of your marginal tax rate per month, so a basic rate tax payer after 5 month needs a 1% discount or greater on the purchase, and a higher rate tax payer a 2% discount to cover the inherited tax liability. So a higher rate tax payer selling at the 5 month mark at a 1.25% (or 1.5% / 1.75% ) discount will benefit AND a basic rate tax payer buying will benefit (assuming of course the loan does not default and fail to recover capital & interest). Win-Win. The less desirable loans will inevitably be slow to move at any discount. The Greenwich loan is an interesting example as my conclusion was (and is) that the security is pretty sound but will take a very long time to sell if the loan defaulted. But the market is saying otherwise and the loan parts are sticking around at 1.25% / 1.5% discounts. ( I have been buying when I spot it at 1.75% or 2% discount. ) NI loans are inevitably going to be slow to move following the referendum. Although technically correct, your calculation assumes that the money returned is re-invested promptly following the sale. Any delay in re-investing will reduce the advantage gained by the higher-rate tax-payer, to the point of almost zero (0.09% to be precise) after only another month (i.e. leaving the loan to maturity). For example: £100 loan @ 12% sold after 5 months at 1.25% discount = 105 x 0.9875 = 103.69. A profit of £3.69 with no tax due. The same loan kept to maturity at 6 months gives a £6 profit, which after tax @ 40% leaves £3.60. Only 9p less. What you do gain of course is the advantage of removing the risk of holding the loan to maturity, but I would still be careful about selling at anything over 1.25% expecting to make more profit, as you could easily end-up losing out if you don't re-invest the money promptly.
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mikes1531
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Post by mikes1531 on Nov 3, 2016 21:06:39 GMT
Although technically correct, your calculation assumes that the money returned is re-invested promptly following the sale. Any delay in re-investing will reduce the advantage gained by the higher-rate tax-payer, to the point of almost zero (0.09% to be precise) after only another month (i.e. leaving the loan to maturity). For example: £100 loan @ 12% sold after 5 months at 1.25% discount = 105 x 0.9875 = 103.69. A profit of £3.69 with no tax due. The same loan kept to maturity at 6 months gives a £6 profit, which after tax @ 40% leaves £3.60. Only 9p less. What you do gain of course is the advantage of removing the risk of holding the loan to maturity, but I would still be careful about selling at anything over 1.25% expecting to make more profit, as you could easily end-up losing out if you don't re-invest the money promptly. This is a valid point, but it's not really an issue at the moment because of the long list of available investment opportunities and the fact that investments start earning interest from the day they are made. I tend to check my account late in the evening to see if anything has sold that day. If there is cash available because something has sold, I reinvest the sale proceeds that evening.
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Post by masterofimages on Nov 7, 2016 1:03:37 GMT
Although technically correct, your calculation assumes that the money returned is re-invested promptly following the sale. Any delay in re-investing will reduce the advantage gained by the higher-rate tax-payer, to the point of almost zero (0.09% to be precise) after only another month (i.e. leaving the loan to maturity). For example: £100 loan @ 12% sold after 5 months at 1.25% discount = 105 x 0.9875 = 103.69. A profit of £3.69 with no tax due. The same loan kept to maturity at 6 months gives a £6 profit, which after tax @ 40% leaves £3.60. Only 9p less. What you do gain of course is the advantage of removing the risk of holding the loan to maturity, but I would still be careful about selling at anything over 1.25% expecting to make more profit, as you could easily end-up losing out if you don't re-invest the money promptly. This is a valid point, but it's not really an issue at the moment because of the long list of available investment opportunities and the fact that investments start earning interest from the day they are made. I tend to check my account late in the evening to see if anything has sold that day. If there is cash available because something has sold, I reinvest the sale proceeds that evening. As long as you're happy to invest additional funds in current open investments, that's fine. As I tend to invest up to a pre-calculated limit in each loan, if any additional funds become available from a sale, I need to wait until a new loan is listed before I can re-invest that money. I guess that self-imposed rule combined with being a higher-rate taxpayer makes selling on the SM a bit less advantageous for me. 
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mikes1531
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Post by mikes1531 on Nov 7, 2016 14:38:16 GMT
This is a valid point, but it's not really an issue at the moment because of the long list of available investment opportunities and the fact that investments start earning interest from the day they are made. I tend to check my account late in the evening to see if anything has sold that day. If there is cash available because something has sold, I reinvest the sale proceeds that evening. As long as you're happy to invest additional funds in current open investments, that's fine. As I tend to invest up to a pre-calculated limit in each loan, if any additional funds become available from a sale, I need to wait until a new loan is listed before I can re-invest that money. I guess that self-imposed rule combined with being a higher-rate taxpayer makes selling on the SM a bit less advantageous for me. : I set limits on my investments too. But I don't always have enough cash in my FS account to invest to that level as soon as a loan becomes available, so I usually have a short list of loans I'd put more into if I had funds available. As for the impact of being a higher-rate taxpayer... I'd have thought that people in that position would have an advantage selling in the SM compared to basic-rate taxpayers because they could afford to offer greater discounts. Have I got that wrong?
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elliotn
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Post by elliotn on Nov 17, 2016 4:46:25 GMT
Hi, FS would seem to be the 1st site to force me into excel  . I've just joined and bought some loan parts on SM which have not yet received interest paid. Is there a simple way to see interest accrued since purchase or - on a notional 1000 deposited / 975 purchased (say, 950 loans + 25 purchased interest + 10 accrued interest) - would this be: My Activity - Total Movement Debit 975, Total Movement Credit 1000 My Balance 25 My Current Investments - Your Investments 950, Interest to Date 35. Interest accrued since purchase being 950 + 35 My Current Investments total Less 975 Total Movement Debit = 10 accrued interest. Quite the kerfuffle  . Edit - I'm not too fussed about seeing accrued interest during the month (I don't check this on SS for instance) but I do want to see interest earned since purchase when I'm paid on loan end date (or thereabouts  ). |
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Neil_P2PBlog
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Post by Neil_P2PBlog on Nov 17, 2016 5:42:35 GMT
I haven't found an easy way elliotnYou can try and do it all in excel (I wrote a blog post when I did this a few weeks ago). Another method is to put everything up for sale on the secondary market at a premium no-one would buy and take the accrued interest from the selling loans page. You could try asking live chat too, they are generally pretty helpful in my experience. |
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elliotn
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Post by elliotn on Nov 17, 2016 6:08:23 GMT
I haven't found an easy way elliotn You can try and do it all in excel (I wrote a blog post when I did this a few weeks ago). Another method is to put everything up for sale on the secondary market at a premium no-one would buy and take the accrued interest from the selling loans page. You could try asking live chat too, they are generally pretty helpful in my experience. Tyvm indeed Neil. I can see I need another look through your blog, I love the reviews! 
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mikes1531
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Post by mikes1531 on Nov 17, 2016 13:21:14 GMT
Is there a simple way to see interest accrued since purchase... Another method is to put everything up for sale on the secondary market at a premium no-one would buy and take the accrued interest from the selling loans page. I've never bought anything on the SM, so I can't speak from experience, but what do you see in the 'Interest To Date' column of the table showing your current investments? For investments I've made on the PM, that column shows interest accrued so far, starting at zero on the day I made my investment. I don't suppose you'd be so lucky as to find that starts at zero when you make a SM purchase, but if you make a note of the amount shown on the day of your purchase -- or capture that data from the screen when making the purchase -- you ought to be able to tell how much interest has accrued since then by comparing the current and historical numbers. HTH
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Neil_P2PBlog
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Post by Neil_P2PBlog on Nov 17, 2016 13:41:26 GMT
mikes1531 , when you buy on the PM and the loan is activated the 'interest to date' column shows as having all 30 days interest on day 0 (rather than 0, because that is what the borrower will pay as a minimum). However, if you go on to sell it on day 2 the SM buyer will only pay 2 days accrued interest.
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mikes1531
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Post by mikes1531 on Nov 17, 2016 22:30:34 GMT
mikes1531 , when you buy on the PM and the loan is activated the 'interest to date' column shows as having all 30 days interest on day 0 (rather than 0, because that is what the borrower will pay as a minimum). However, if you go on to sell it on day 2 the SM buyer will only pay 2 days accrued interest. Ah, yes. I forgot about that aspect. So it provides no real info until after it's 30 days old. But what's the situation for parts bought on the SM?
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