mary
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Post by mary on May 23, 2017 20:27:32 GMT
With so many top quality investment opportunities available at the moment at top rates I'm not expecting a great deal of action on the secondary market here for another week when we get the interest run. Of course the prime loans namely long-dated 12% loans will still shift but everything else I think will stick around until the end of the month so we could see secondary market availability here rise still further over the coming days as new loans continue to flood the market. There was some extraordinary availability on the SM between 1 and 2 a.m. last night when people were clearly trying to shift some very high quality 12% stuff in a hurry to get it out in time to grab some 13%. Agreed. Now if I hadn't made that Castle investment all would be good with the world! Still aiming for 100%. Who knows, might still come out on top there (crossing fingers).
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GeorgeT
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Post by GeorgeT on May 23, 2017 21:53:48 GMT
The castle is blighting a lot of investors lives I detect, including mine. I still have a few hundred stuck in the sales queue. It is my biggest weakness. If that loan got repaid early I would do a jig of delight. However it taught me a good lesson.
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dzo
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Post by dzo on May 24, 2017 6:39:51 GMT
The castle is blighting a lot of investors lives I detect, including mine. I still have a few hundred stuck in the sales queue. It is my biggest weakness. If that loan got repaid early I would do a jig of delight. However it taught me a good lesson. Only go for 12 percent?
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vmail
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Post by vmail on May 24, 2017 19:32:07 GMT
SM is still slow now that the MT monster has been fed. What's happening?
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GeorgeT
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Post by GeorgeT on May 24, 2017 19:39:35 GMT
SM is still slow now that the MT monster has been fed. What's happening? I think people have been raking around down the back of the sofa and raiding their funds from everywhere in order to feed the MT monster and now that it has been fed there is a shortage of funds around which is unlikely to change until this time next week when we will be due an interest run. I'm not banking on shifting very much at all until June 1st. Given the trend towards worse liquidity on this platform I won't be cancelling anything I've got in sale queues however because I don't want to lose my place. To me, a better position in the queue is worth a few pounds of lost interest.
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Post by freedommmm on May 25, 2017 9:14:41 GMT
Total SM is now up to 3.2m this morning. Is this a new record? Dear Lendy, is there something that we ought to know?
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Post by Deleted on May 25, 2017 9:45:12 GMT
The total live loan book (including defaults) is getting close to £185m again. We've been here a few times in the last few months, the SM getting bloated when the loan book reaches this level.
So far, big repayments have brought things back under control each time.
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vmail
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Post by vmail on May 25, 2017 10:24:43 GMT
Total SM is now up to 3.2m this morning. Is this a new record? Dear Lendy, is there something that we ought to know? The £1.6m COL Bolton loan should be drawing down today which will free up £1.6m on MT. There is only £450k on MT so the remaining could clear the £600k on COL or come to L
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r1200gs
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Post by r1200gs on May 25, 2017 10:36:37 GMT
It'll soon be payday, that should make a dent.
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elliotn
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Post by elliotn on May 25, 2017 11:05:53 GMT
Total SM is now up to 3.2m this morning. Is this a new record? Dear Lendy, is there something that we ought to know? It is about 4 million - don't forget to include the loans that are not IA or SBL.......doesn't make things any better. The SM is really "beginning" to turn me off Ly which is still my biggest platform, whereas it was previously a big attraction. Apart from the fact that they are saving 1% on their interest bill, I wonder if they also have a vested interest/intent in keeping it bloated in that so many people are saying that they are wishing to downsize, and in the full knowledge of tasty loans elsewhere that are more than a mere morsel. I'm not sure Ly have engineered illiquidity to stop investors leaving the platform as they have far more to lose from a loss of investor confidence, the increased origination is part of their objective to become UK's largest proptech platform. However the knock on effects on the after market may impact the investor confidence that this strategy needs (as well as helping generate the fee income to help address any future default losses, another key test of investor sentiment).
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vmail
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Post by vmail on May 25, 2017 11:20:51 GMT
or the 12%+ available on ABL too. How does ABL compare to other platforms? Is interest paid monthly like L/COL or MT, or end of term like FS? Do loan parts on the SM stop earning interest? and are they recoupable? How liquid is the SM? How fast are the deposits and withdrawals?
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elliotn
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Post by elliotn on May 25, 2017 11:25:31 GMT
or the 12%+ available on ABL too. How does ABL compare to other platforms? Is interest paid monthly like L/COL or MT, or end of term like FS? Do loan parts on the SM stop earning interest? and are they recoupable? How liquid is the SM? How fast are the deposits and withdrawals? Monthly (with a couple 1/4ly and one bullet). I believe only Col & Ly deduct SM interest(?). SM is liquid for higher rate loans ie 13%+ people will pay a premium, be prepared to offer some discount for 10% loans (or if a BH has unloaded at the same time). Deposits instant by Dr card, withdrawals not the quickest although I was pleasantly surprised by 2 days paid back today  Edit - other +s, excellent service/loan launch docs & diversification potential from prop. Edit - as noted, sales can be instant if you accept logged bids (or you can offer at a higher rate to tempt a new buyer).
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SteveT
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Post by SteveT on May 25, 2017 11:26:57 GMT
or the 12%+ available on ABL too. How does ABL compare to other platforms? Is interest paid monthly like L/COL or MT, or end of term like FS? Do loan parts on the SM stop earning interest? and are they recoupable? How liquid is the SM? How fast are the deposits and withdrawals? Interest mostly paid monthly, with the odd exception (a couple pay quarterly). See the "Repayments" tabs for the schedule. Loan parts offered on the SM continue to accrue interest until sold. Offers can be cancelled (if that's what you meant) As liquid as you like. It's a proper market, where lenders list both offers and bids. You can sell or buy instantly if you're happy to accept the best bid or offer listed, or list your own offer / bid to wait for a better price. Deposits can be instant via debit card. Withdrawals typically take 2 business days provided you request it by 5pm-ish (eg. request a withdrawal Monday lunchtime, it will usually be in your account on Wednesday morning). (crossed with elliotn)
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Post by lendinglawyer on May 25, 2017 11:28:26 GMT
or the 12%+ available on ABL too. How does ABL compare to other platforms? Is interest paid monthly like L/COL or MT, or end of term like FS? Do loan parts on the SM stop earning interest? and are they recoupable? How liquid is the SM? How fast are the deposits and withdrawals? Monthly. Some loans are amortising so also pay principal during the term. Loans also tend to be multi-year term. It's a slightly different offering over there - I quite like it for a bit of diversity. SM works differently - bid/offer system with discounts and premia. So if there is a bid at a price you're willing to sell for there, you can sell immediately. If not, you can't. You can then set an offer at the price you're willing to accept and wait. The tax treatment of the SM is more complex, however they have a clear guidance note as to how they've been advised it should be treated. Deposits are instant (debit card). Withdrawals take a few hours to a day in my experience. EDIT: crossed with everyone...
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elliotn
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Post by elliotn on May 25, 2017 11:34:03 GMT
/off-topic hat on lendinglawyer as a classics' student I must commend your premia. /as you were |
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