Liz
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Post by Liz on Mar 7, 2018 19:20:02 GMT
Strewth....4 loans now for 11am....FS don't learn do they ...whats the betting getting access to the site is going to be a lottery..again ah..2 for the same site at Liverpool Another 2nd charge(2nd ranking or whatever), just what I wanted 😬 A lottery! Damn I can't bid on all 4 at once.
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Post by df on Mar 7, 2018 19:35:50 GMT
Why is this the same rate as the senior loan? I imagine it's because the LTV is so low. The loan will be snapped up within a minute. Probably a bit longer , but I will "snap" a little bit and pass it on to someone else in three months time (with generous discount).
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Liz
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Post by Liz on Mar 7, 2018 19:43:23 GMT
Why is this the same rate as the senior loan? Good question..... for FS perhaps ?..2nd thoughts...perhaps they feel that as the LTV of 56.3% is still relatively low..that it doesn't justify an increase. If the majority of my investment were at 56% Id be as happy as Larry. Anyway, as I have a decent wedge of the 1st tranche I wont be thrashing the piggy bank too hard for this one Still plenty of mugs on FS 😆
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Liz
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Post by Liz on Mar 7, 2018 19:51:31 GMT
When looking at LTV, remember by the time this has sold the interest on the 1st loan would errode the LTV. The LTV could easily spike well past 60%; add in a distressed sale and receiver/estate agent/solicitor costs and this all of a sudden starts to look a lot worse.
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rogerthat
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Post by rogerthat on Mar 7, 2018 21:42:45 GMT
Strewth....4 loans now for 11am....FS don't learn do they ...whats the betting getting access to the site is going to be a lottery..again ah..2 for the same site at Liverpool Another 2nd charge(2nd ranking or whatever), just what I wanted 😬 A lottery! Damn I can't bid on all 4 at once. Nope..you're not wrong there..but take solace from the fact that nobody else can either ..so if you want a 1st charge only (or where all tranches rank equally), you now only have two to go for..both the C Street ones. Where do I send my invoice ? p.s..I note that there are no loan parts for sale on the SM..i might have a small nibble on this additional loan
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Liz
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Post by Liz on Mar 8, 2018 14:42:25 GMT
I imagine it's because the LTV is so low. The loan will be snapped up within a minute. Probably a bit longer , but I will "snap" a little bit and pass it on to someone else in three months time (with generous discount). Good luck selling into this SM.
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number5
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Post by number5 on Mar 8, 2018 15:31:49 GMT
This SM currently is mental...can't figure out what is going on! Someone is selling a lot at 1% discount
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r00lish67
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Post by r00lish67 on Mar 8, 2018 15:37:07 GMT
This SM currently is mental...can't figure out what is going on! Someone is selling a lot at 1% discount Paranoia, or totally justified pessimism - take your pick If fundingsecure would alleviate the now insufficient 1% discount cap, some loans would be sold at greater discounts, but I suspect many would paradoxically be sold at lesser discounts once people realise that they can sell their loans should they need to.
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number5
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Post by number5 on Mar 8, 2018 15:55:21 GMT
I agree...need a higher discount than the current 1%.....I have loans I would like to sell out of to invest in new loans sitting in the PM but I can't until someone buys my stuff
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rogerthat
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Post by rogerthat on Mar 8, 2018 16:04:54 GMT
I agree...need a higher discount than the current 1%.....I have loans I would like to sell out of to invest in new loans sitting in the PM but I can't until someone buys my stuff I sold 500squids worth of Impressionist paintings 8859**3920 yesterday at 23.30 @ 1% disc...lay untouched for a week?...and was 9th or 10th on the list as there were so many others..yet it was gobbled up entirely...theres still almost 2 pages at 1% discount
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number5
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Post by number5 on Mar 8, 2018 16:19:46 GMT
I think it's also causing a domino effect...as soon as one person puts discounts on loans...others follow...and then suddenly everyone is selling at discount so early in the loan term as well.
Similar to what happened on the Bath Cottage loan....eventually all that 1% discount cleared up I think
The SM is definitely going through a strange phase at the moment...from my 6 month experience of FS
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Post by df on Mar 8, 2018 20:34:54 GMT
I think it's also causing a domino effect...as soon as one person puts discounts on loans...others follow...and then suddenly everyone is selling at discount so early in the loan term as well. Similar to what happened on the Bath Cottage loan....eventually all that 1% discount cleared up I think The SM is definitely going through a strange phase at the moment...from my 6 month experience of FS This is a very recent change. About 1 months ago I could easily sell anything at -0.6%. It is probably because many investors are desperately trying to get out of FS??? It used to be large premium/discount margins. +5/-5%, IIRC? It was changed to +1/-1% at some point last year and according to FS stats there are more sales on SM since. So far -1% works well for me, but if SM gets more flooded it might become very difficult to sell. This week I sold all my -1% offerings within 3 days maximum, I hope it doesn't get worse.
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Post by df on Mar 8, 2018 20:45:34 GMT
I agree...need a higher discount than the current 1%.....I have loans I would like to sell out of to invest in new loans sitting in the PM but I can't until someone buys my stuff I sold 500squids worth of Impressionist paintings 8859**3920 yesterday at 23.30 @ 1% disc...lay untouched for a week?...and was 9th or 10th on the list as there were so many others..yet it was gobbled up entirely...theres still almost 2 pages at 1% discount I'm not selling this, but had a look, £5,225 @-1% - quite a lot for pawn.
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daveb4
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Post by daveb4 on Mar 8, 2018 21:32:52 GMT
Lots of selling at this time of year re getting money out for either tax issues or ISA. Not sure though if this is more than normal, probably linked into various platform issues.
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mikes1531
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Post by mikes1531 on Mar 9, 2018 4:30:15 GMT
This SM currently is mental...can't figure out what is going on! Someone is selling a lot at 1% discount Is it true that a lot is being sold at 1% discount? Or just that a lot is being offered at that discount in an effort to convince someone to buy? How can we know? I've put a few bits up for sale, and while I can't be sure exactly what's happening, it doesn't look to me like many of the parts in front of me in the selling queue are going anywhere.
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