jamesc
Member of DD Central
Posts: 447 
Likes: 253
|
Post by jamesc on Oct 27, 2016 10:40:49 GMT
I wonder how many of the 856 are "accidental" investors in the loan because they either did not amend their pre-fund amounts or were not aware the offering was at 9%. There could be a variety of reasons for the latter, including conflicting information coming from Savingstream, examples of which have been cited over the last couple of days including post launch, but I suspect it would mainly be because a large number of people have not paid attention to the detail. I think quite a number of those investors are 'accidental' investors I manage a number of SS accounts for f&f and it was only at the last moment that I realised that some of the accounts had prefunded for this. I am hoping this step down is interest rates will only be for a small loans although I rather thought for a 25% cut in rates we would see a much lower LTV sub 50% at least. Hopefully for the bigger loans we will still see 12% particularly given that other platforms have heavy deal flow at 12% and FS have 20 loans that they cant seem to fill at 13% and with bonus and CB up to 18% and the quality is not that different.
|
|
sandbrain
Member of DD Central
Posts: 62
Likes: 20
|
Post by sandbrain on Oct 27, 2016 10:42:30 GMT
I wonder how many of the 856 are "accidental" investors in the loan because they either did not amend their pre-fund amounts or were not aware the offering was at 9%. There could be a variety of reasons for the latter, including conflicting information coming from Savingstream, examples of which have been cited over the last couple of days including post launch, but I suspect it would mainly be because a large number of people have not paid attention to the detail. Or in my case, I was too busy reading this forum and hadn't got around to reducing from my default pre-funding level by the time this one went live (being fairly early in the day). No problem though, as excess sold in seconds on the SM.
|
|
ganymede
Member of DD Central
Posts: 304
Likes: 211
|
Post by ganymede on Oct 27, 2016 10:43:25 GMT
I voted Yes in the poll, my pre-funding was set to £100, and got the full £100.
To put in context, my default pre-funding is set to £2000.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Oct 27, 2016 10:47:11 GMT
Well I put £250 on the SM and it went in seconds. Am comfortable keeping £500. Just a word of caution about holding investments because they'll sell easily. SM liquidity is a dangerous thing to pin your investment decision on (although not saying you did in full, I don't know) - there might be some PBL136 owners right now who are sweating under their collars a little now for instance, and if we see a few loans go formally sour then there might be significant availability elsewhere, leaving a 9%'er not looking so great.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Oct 27, 2016 10:54:22 GMT
okay as one of the four i got my £300. So can we now assume that this forum and/or polls are completely unrepresentative of the real world then :-) I shall pop £50 on the SM to see how long it lasts Jack P : I never heard anyone in here claiming representation beyond ourselves. What I can see from the numbers, however, is that 859 lenders (at the time of writing) vs c. 2000 lenders in other loans speak volumes. There may be people who would argue that BH did not get involved for fear of getting small amounts. Fair point, but I think there were many, whether they frequent this forum or not is irrelevant, that did not get involved because they did not like this loan for one reason or another. I still think that this forum is very useful as its main purpose is, as with all forums, discussion.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Oct 27, 2016 11:01:08 GMT
Loan drawndown already, pretty fast, I wonder if it had already been funded by SS or underwriters.  |
|
tombraider
Member of DD Central
Posts: 117
Likes: 103
|
Post by tombraider on Oct 27, 2016 11:08:04 GMT
interesting that 800+ investors cf 1800-2100 that usually invest. I think with the huge amount on the SM may distort numbers. The next one at 10% in scotland will give us a better idea of the actual numbers willing to take positions at lower percentages
|
|
sandbrain
Member of DD Central
Posts: 62
Likes: 20
|
Post by sandbrain on Oct 27, 2016 11:33:07 GMT
Well I put £250 on the SM and it went in seconds. Am comfortable keeping £500. Just a word of caution about holding investments because they'll sell easily. SM liquidity is a dangerous thing to pin your investment decision on (although not saying you did in full, I don't know) - there might be some PBL136 owners right now who are sweating under their collars a little now for instance, and if we see a few loans go formally sour then there might be significant availability elsewhere, leaving a 9%'er not looking so great. just to clarify, context was that I hadn't got around to reducing my pre-funding level before the loan went live, so I sold the excess. I agree though that gone are the times when you could be sure of being able to sell anything on the SM and lower rate loans are likely to equal less demand.
|
|
|
|
Post by jackpease on Oct 27, 2016 12:19:46 GMT
I still think that this forum is very useful as its main purpose is, as with all forums, discussion. Absolutely - i find it invaluable but it has changed hugely since when i first joined a few years back. Then it was the 'advance party' and there was a lot of 'big picture' thinking and a willingness to give platforms the benefit of the doubt. I think a lot of negativity has now crept in - the default assumption now seems to be that platforms are out to get us fuelled by a rather odd idea that we are a platform's management board. I think in the old days there may have been a far more balanced discussion about SS's rate reductions - the assumption is that 12% good and 9% bad is stifling discussion as to whether in the big picture, reducing rates from 12% means that SS becomes bigger and better and in the end, we can earn more money. Why does this matter? Well if this board does NOT reflect the wider view (as the difference between poll result and the reality might suggest) and we just constantly diss platforms, then the likes of SS may decide that FC's non-participation policy with this board is a a good thing. Jack P
|
|
|
|
Post by charliebrown on Oct 27, 2016 12:40:20 GMT
okay as one of the four i got my £300. So can we now assume that this forum and/or polls are completely unrepresentative of the real world then :-) I shall pop £50 on the SM to see how long it lasts Jack P : I never heard anyone in here claiming representation beyond ourselves. What I can see from the numbers, however, is that 859 lenders (at the time of writing) vs c. 2000 lenders in other loans speak volumes. There may be people who would argue that BH did not get involved for fear of getting small amounts. Fair point, but I think there were many, whether they frequent this forum or not is irrelevant, that did not get involved because they did not like this loan for one reason or another. I still think that this forum is very useful as its main purpose is, as with all forums, discussion. This forum is fantastic. If the views on here don't represent the masses then I'd rather be part of the minority  At the end of the day, for a 300 quid investment does it matter whether it's 12% or 9%. The difference in capital growth would just about buy you a cup of tea
|
|
adrianc
Member of DD Central
Posts: 10,019
Likes: 5,147
|
Post by adrianc on Oct 27, 2016 12:58:59 GMT
At the end of the day, for a 300 quid investment does it matter whether it's 12% or 9%. The difference in capital growth would just about buy you a cup of tea Nine quid for a cup of tea...?
|
|
|
|
Post by pepperpot on Oct 27, 2016 13:03:39 GMT
|
|
|
|
Post by 2wolfbag2 on Oct 27, 2016 13:04:15 GMT
jackpease : I never heard anyone in here claiming representation beyond ourselves. What I can see from the numbers, however, is that 859 lenders (at the time of writing) vs c. 2000 lenders in other loans speak volumes. There may be people who would argue that BH did not get involved for fear of getting small amounts. Fair point, but I think there were many, whether they frequent this forum or not is irrelevant, that did not get involved because they did not like this loan for one reason or another. I still think that this forum is very useful as its main purpose is, as with all forums, discussion. This forum is fantastic. If the views on here don't represent the masses then I'd rather be part of the minority At the end of the day, for a 300 quid investment does it matter whether it's 12% or 9%. The difference in capital growth would just about buy you a cup of tea Fraid I rather disagree with jack and agree with charliebrown This discussion has been lively and forthright - I think this forum DOES represent the (more intelligent) masses and I do occasionally participate - it is after all a forum where people can come and share their views - thankfully it is moderated (as I have personally experienced) and as I had stated in my earlier post - I figured that at 9% the loan would get filled - after all until recently when it was hidden away in the dark recesses even PBL20 was selling on the secondary market ! As has been more eloquently expounded previously it is not the DD on the 9% per se - it is the setting of precedent that is a little disturbing - why should 12% loans be offered when SS can get them out at 9%, 6% or even 4% - why indeed - because the fact they are offered at a lower rate will only make them more attractive as one would naturally draw the assumption that the lower the rate the more secure the risk
|
|
twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
|
Post by twoheads on Oct 27, 2016 15:26:02 GMT
... watching SS, tempted by 12% and low default record. All in all, I like SS: their record... : I'm surprised you weren't put off by the large number of loans with negative remaining terms. Initially I was surprised and somewhat put off by all those negative terms (and also the big red one which was still in 'live loans' prior to its nifty move into the newly created 'default loans' category).
What encouraged me (and was more surprising) was the SM liquidity, even in the stuff which I thought everyone would want to offload. And investors were even still investing in the big red one, which I couldn't understand.
However, it was pretty clear that if I stuck to long term loans, then there appeared to be no trouble selling them if required. Even with the recent SM glut, everything over 100 days pretty soon dried up, regardless of its nature. So my policy is to gradually move as much as possible to the longer term. I feel (possibly wrongly) that sticking to long term loans mitigates some of the risk as the SM will apparently buy back almost anything in time.
I've currently got nothing under 230 days and I'm happy sticking there for now.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Oct 27, 2016 16:09:47 GMT
Can't see this has launched today? Can't see it in Pipeline either?
|
|
