GeorgeT
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Post by GeorgeT on Jul 25, 2017 21:27:57 GMT
The small piece of SM analysis below involving PBL150 is interesting and suggests the SM is changing and 100 days could well soon become the new 200 days. PBL150 (and PBL151) have regained high class (very liquid and in demand) status despite now being sub 200 days to run.
And we have an interest run due in 6 days and another £1.7 million being repaid by PBL147 in about 3 weeks time. (I'm amazed to see some PBL147 on the SM - it's now a 12% beauty after exchange of contracts at auction last week).
PBL150
Loan part listed for sale today - Sold today (3 hours to sell).
Loan part listed for sale on 7 July - Sold on 22 July (15 days to sell)
Loan part listed for sale on 20 June - Sold on 7 July (17 days to sell)
The landscape is once again changing - confidence has received a big boost today with the 3 repayments - 2 defaulters and a biggie.
My sales action has been off the wall since the repayments.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 25, 2017 21:40:12 GMT
The small piece of SM analysis below involving PBL150 is interesting and suggests the SM is changing and 100 days could well soon become the new 200 days. PBL150 (and PBL151) have regained high class (very liquid and in demand) status despite now being sub 200 days to run. And we have an interest run due in 6 days and another £1.7 million being repaid by PBL147 in about 3 weeks time. (I'm amazed to see some PBL147 on the SM - it's now a 12% beauty after exchange of contracts at auction last week). PBL150Loan part listed for sale today - Sold today (3 hours to sell). Loan part listed for sale on 7 July - Sold on 22 July (15 days to sell) Loan part listed for sale on 20 June - Sold on 7 July (17 days to sell) The landscape is once again changing - confidence has received a big boost today with the 3 repayments - 2 defaulters and a biggie. My sales action has been off the wall since the repayments. PBL147, leaving aside the little wrinkle that might delay things, the security didnt raise enough to cover all outstanding sums ie interest, bonus, fees, costs so I wouldnt call it a 12% beauty unless I was very brave or my hat ornament (beauty is in the eye of the beholder but possibly, in this case, not the holder)
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GeorgeT
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Post by GeorgeT on Jul 25, 2017 21:53:23 GMT
The small piece of SM analysis below involving PBL150 is interesting and suggests the SM is changing and 100 days could well soon become the new 200 days. PBL150 (and PBL151) have regained high class (very liquid and in demand) status despite now being sub 200 days to run. And we have an interest run due in 6 days and another £1.7 million being repaid by PBL147 in about 3 weeks time. (I'm amazed to see some PBL147 on the SM - it's now a 12% beauty after exchange of contracts at auction last week). PBL150Loan part listed for sale today - Sold today (3 hours to sell). Loan part listed for sale on 7 July - Sold on 22 July (15 days to sell) Loan part listed for sale on 20 June - Sold on 7 July (17 days to sell) The landscape is once again changing - confidence has received a big boost today with the 3 repayments - 2 defaulters and a biggie. My sales action has been off the wall since the repayments. PBL147, leaving aside the little wrinkle that might delay things, the security didnt raise enough to cover all outstanding sums ie interest, bonus, fees, costs so I wouldnt call it a 12% beauty unless I was very brave or my hat ornament (beauty is in the eye of the beholder but possibly, in this case, not the holder) I disagree. It sold for 1.8 million against a loan of 1.715 million. It is only 49 days late and therefore the interest is guaranteed to be paid by LY because it is Serviced by LY status and that is a term of the contract LY has with us. As regards the possibility of an assured shorthold tenancy being in place, that has a negligible effect on value, at best a 5% reduction in the market from the VP value, because of the landlords ability to obtain possession. Anyway, when the gavel came down it was a contract. Purchasers are bound to make their own enquiries. Also in the recent update, LY confirmed in writing that investors would obtain full repayment. Any small shortfall as regards fees etc will be met by LY.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 25, 2017 22:07:52 GMT
PBL147, leaving aside the little wrinkle that might delay things, the security didnt raise enough to cover all outstanding sums ie interest, bonus, fees, costs so I wouldnt call it a 12% beauty unless I was very brave or my hat ornament (beauty is in the eye of the beholder but possibly, in this case, not the holder) I disagree. It sold for 1.8 million against a loan of 1.715 million. It is only 49 days late and therefore the interest is guaranteed to be paid by LY because it is Serviced by LY status and that is a term of the contract LY has with us. As regards the possibility of an assured shorthold tenancy being in place, that has a negligible effect on value, at best a 5% reduction in the market from the VP value, because of the landlords ability to obtain possession. Anyway, when the gavel came down it was a contract. Purchasers are bound to make their own enquiries. Also in the recent update, LY confirmed in writing that investors would obtain full repayment. Any small shortfall as regards fees etc will be met by LY. SBL ends on 1/8 so after that its arrears, and SBL just means Lendy pay us the interest which they will reclaim from the recovery sum (we have no idea where that ranks in repayment terms), and their own normal interest plus any default fees/interest for Lendy/SSSH (priority unknown), recovery costs, legal fees, auction costs etc (which do rank ahead of capital repayment) for Lendy/SSSH and receivers (could be 2-3% of recovery) and the 1% bonus Thats a lot to scrape out of 285k. The AST might not effect value much but might delay the completion - more interest. Lendy said full repayment but of what ... the loan is fulyl repaid if the capital is returned, anything beyond that is open to interpretation. I wouldnt assume Lendy will meet any shortfall, thy are under no obligation to do so, and very much depends on what the definition of small is - less than 50k based on the fact interest wasnt covered on todays recovery. So as I said certainly not a beauty, more of a punt on Lendy generosity. You can let us know.
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GeorgeT
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Post by GeorgeT on Jul 26, 2017 15:50:48 GMT
The SM is still quite active today - some drag over from yesterday.
In total I hope it will have dipped below £5m next week after the interest run.
Pleased to say I have sold my last parts of PBL156 today. They were listed on 15 June and sold today, 26 July. So took me about 40 days to exit PBL156. Given that SM action and liquidity has improved of late, I would expect newly listed parts to sell a bit quicker than mine did.
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Post by d_saver on Jul 26, 2017 20:44:55 GMT
Couple very large chunks of pbl143 taken today. Somebody know somthing?
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Post by freedommmm on Jul 27, 2017 18:45:55 GMT
Please to see progress, the SM queue is really melting quickly in the last couple of days! We are down to 4.5m and that is even before our interest payment!
However, 4.5m is still a lot to go through!
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GeorgeT
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Post by GeorgeT on Jul 28, 2017 10:56:20 GMT
Please to see progress, the SM queue is really melting quickly in the last couple of days! We are down to 4.5m and that is even before our interest payment! However, 4.5m is still a lot to go through! Fear not, I am confident that we are in a transition period from feast to famine. I hate to think what will be left on the SM after the interest run in 4 days time - probably only a dead rat and a pack of sausages that is one week past it's sell by date. And a few loans paying just 7% or 8% interest.
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r1200gs
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Post by r1200gs on Jul 28, 2017 11:28:51 GMT
Please to see progress, the SM queue is really melting quickly in the last couple of days! We are down to 4.5m and that is even before our interest payment! However, 4.5m is still a lot to go through! Fear not, I am confident that we are in a transition period from feast to famine. I hate to think what will be left on the SM after the interest run in 4 days time - probably only a dead rat and a pack of sausages that is one week past it's sell by date. And a few loans paying just 7% or 8% interest. If Lendy are right (it has happened in the past!) then it won't be the interest run that'll dry up the SM, it will be a loan repayment that is twice the size of the SM. Said it before and will say it again - I think the days of the FFF SM are far from gone.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 29, 2017 15:56:47 GMT
I agree, 90% of my loans are now Qless, however, those that do have a Q are still £150k+. Now, getting my fa tstest finger into training, ready for the famine. The fact that L have been distracted by MOOweek has probably helped!!  |
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GeorgeT
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Post by GeorgeT on Jul 31, 2017 18:09:45 GMT
Looking at Jonah's graphs it seems the SM is now down to £4 million after today's repayment. Certainly the SM has been red hot again today.
Tomorrows interest run ought to hammer it down to around the £3.5m mark.
The question I want answering is this - will people start eroding the overdue and low rate loan queues once all the 11% and 12% positive day stuff has gone. Only time will tell....
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Post by portlandbill on Aug 1, 2017 9:43:32 GMT
The question I want answering is this - will people start eroding the overdue and low rate loan queues once all the 11% and 12% positive day stuff has gone. Only time will tell.... I suspect those days have gone
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GeorgeT
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Post by GeorgeT on Aug 1, 2017 16:33:23 GMT
Unreal SM action today. What are we down to now - £3m and falling ?
I've sold a £100 loan part in PBL155 today! 2 months ago that looked an impossibility, but the impossible is now possible. Purchases are happening in overdue loans right across the board.
If PBL147 repays in a week or so's time, as expected, or we get another medium to large sized repayment in the next week, the SM board will be dry.
Chris Tarrant tactics required once again.
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Liz
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Post by Liz on Aug 1, 2017 16:48:12 GMT
Unreal SM action today. What are we down to now - £3m and falling ? I've sold a £100 loan part in PBL155 today! 2 months ago that looked an impossibility, but the impossible is now possible. Purchases are happening in overdue loans right across the board. If PBL147 repays in a week or so's time, as expected, or we get another medium to large sized repayment in the next week, the SM board will be dry. Chris Tarrant tactics required once again. Good news! Plenty still available on Funding Secure(at a discount for the ISA users). Their Sm seems to be going in the opposite direction, how things change.
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NSFW
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Post by NSFW on Aug 1, 2017 17:05:07 GMT
Unreal SM action today. What are we down to now - £3m and falling ? I've sold a £100 loan part in PBL155 today! 2 months ago that looked an impossibility, but the impossible is now possible. Purchases are happening in overdue loans right across the board. If PBL147 repays in a week or so's time, as expected, or we get another medium to large sized repayment in the next week, the SM board will be dry. Chris Tarrant tactics required once again. The other two Londom flats will probably repay soon also. That will be 3m I think.
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