nick
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Post by nick on Dec 8, 2016 19:51:01 GMT
Will the supply of new loan parts dry up over the festive period, leaving hordes of punters eager to purchase loan parts in Solicitors at a modest premium? ...or shall I simply dump them right now? I have had 4 successful payments so far. If the past several years are to go by, the SM will be bid up from about mid-Dec - Xmas time to the second week in the New Year as the PM grinds to a halt in the lead up to and through the festive period. I always seem to sell more than anticipated and end up holding too much cash. This year I've vowed not to suffer the same fate and plan to de-list most of my loans from the SM by the end of next week and only start relisting them in the NY.
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fasty
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Post by fasty on Dec 8, 2016 20:00:52 GMT
Will the supply of new loan parts dry up over the festive period, leaving hordes of punters eager to purchase loan parts in Solicitors at a modest premium? ...or shall I simply dump them right now? I have had 4 successful payments so far. If the past several years are to go by, the SM will be bid up from about mid-Dec - Xmas time to the second week in the New Year as the PM grinds to a halt in the lead up to and through the festive period. I always seem to sell more than anticipated and end up holding to much cash. This year I've vowed not to suffer the same fate and i'm going to de-list most of my loans from the SM by the end of next week and only start relisting them in the NY. Thanks for that, nick. Yes, sounds familiar now; I remember hastily taking stuff off the SM before. Still, a good opportunity to dispose anything unwanted.
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arbster
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Post by arbster on Dec 8, 2016 20:10:13 GMT
In addition to solicitors and IT consultants, I avoid scaffolders. An eclectic mix, but all generally unreliable investments.
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Post by bonfemme on Dec 9, 2016 8:07:33 GMT
In the good old days when I used to invest in FC business loans, I liked accountants and scaffolders.
I would have thought solicitors were less risky firms to invest in since the Government backed down on the most recent legal aid cuts earlier this year and reversed the previous round of cuts. Possibly too little too late though for many firms struggling from the previous cuts imposed. My son's firm was one of those that shut up shop just as the u-turn was announced (they didn't leave any debts).
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dorset
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Post by dorset on Dec 9, 2016 10:12:43 GMT
24242 is quite odd. For the first time in my experience FC have failed to provide a specific reason as to why the loan has been defaulted. I have emailed them for clarification. The default seems to have been prompted by a tip off from a member of FC's insolvency panel that the firm in question is considering a voluntary liquidation.
This is an A+ loan set at 8% which now would have been set at 6.5%? With a loan value of £219k it will make a dent in FC's default statistics and claims that A+ loans are super safe and hence should command a lower rate. I am not investing in any A+ loans at less than 7.5% - the rate simply does not cover the risk.
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blender
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Post by blender on Dec 9, 2016 12:09:15 GMT
They will have a valid reason for default, but may not be willing to share it yet. Sometimes that purpose of a swift default is to allow FC to bring the guarantor into play. Maybe they need to do that.
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kaya
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Post by kaya on Dec 9, 2016 13:26:42 GMT
I feel relieved and justified in long-since having given up investing in 'A' and 'A+' loans. Far too risky!
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happy
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Post by happy on Dec 9, 2016 18:24:25 GMT
IMHO once fixed rates arrived A+/A loans were way too risky with too many early defaults happening especially in the A loans so I stopped investing. At the new even lower fixed rate rates investment in these unsecured loans seems pure insanity.
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Post by captainconfident on Dec 16, 2016 15:05:03 GMT
I smirked at the screen today as 29706 ran out of time and failed to fund. A+ 60m 7.5% 371k, meat industry. This customer had a previous loan on similar turnover, profit and net assets, rated B.
Chorus
I said Mama but we're all A+ now!
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Post by captainconfident on Dec 16, 2016 17:47:23 GMT
In fact it was a vegetarian smirk I was smirking.
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adrianc
Member of DD Central
Posts: 10,015
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Post by adrianc on Dec 17, 2016 10:07:05 GMT
In fact it was a vegetarian smirk I was smirking. Zis ees a no smirking forum...
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Post by captainconfident on Dec 21, 2016 18:03:23 GMT
I smirked at the screen today as 29706 ran out of time and failed to fund. A+ 60m 7.5% 371k, meat industry. This customer had a previous loan on similar turnover, profit and net assets, rated B. Chorus I said Mama but we're all A+ now! For anyone who feels they missed out on today's show, it's back! 30030 ...2nd time lucky (wot, no cash back?) I'll make note in my diary to watch the matinee performance next Friday. Hey pepperpot, 30030 - did it get funded in the end?
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Post by captainconfident on Dec 21, 2016 18:40:20 GMT
Hey pepperpot, 30030 - did it get funded in the end? Funnily enough I just spotted it wasn't in the list any more. It is on the sm though...! Any bright ideas about novel entertainment I can amuse myself with on Friday? That should really be the title of a thread in itself. What do you usually do on a Friday night?
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blender
Member of DD Central
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Post by blender on Dec 21, 2016 21:34:26 GMT
Someone should say that shaking pepper into ladies underwear is not funny, and can get you into serious trouble. Now get back to your cruet stand.
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Post by nickdavies on May 12, 2017 12:20:17 GMT
Seems to be brewing into a nice little scandal. I wonder how much they sold the firm for before declaring themselves bankrupt.
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