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Post by Ton ⓉⓞⓃ on Jun 16, 2014 10:31:55 GMT
Yet another
London Software Business Loan - 5 years fully amortising - 8.75% per annum - less than 50% loan to value against second charge property plus debenture over business assets.
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mikeb
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Post by mikeb on Jun 16, 2014 17:45:23 GMT
Loan Number 100, and no bunting, dancing penguins, or anything? No sense of occasion!  Keep 'em coming!
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Jun 16, 2014 20:25:31 GMT
Has everybody else noticed the continuance of falling rates of interest. I appreciate each loan has its individual merits/risks, etc & thus priced accordingly but, rates imho, have been slowly going south. Must be market forces & competition with more players coming on the market & giving more choice to borrowers.
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spockie
Member of DD Central
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Post by spockie on Jun 16, 2014 20:43:40 GMT
I'd noticed too. It's not a total nosedive, but there does seem to be a subtle lowering of rates, maybe to keep the flow of deals.
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Post by andrewholgate on Jun 17, 2014 8:02:21 GMT
Blast, we've been rumbled!!
Getting serious again, I did say in my May update that the market is more competitive and that there was pressure on rates but I don't see too much more downwards pressure in the near future. We continue to price for risk and not liquidity, but it is a balance between attracting new lenders and having enough sweeties in the shop for you all.
A
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Post by yorkshireman on Jun 17, 2014 9:00:08 GMT
I can understand AC’s need to attract new borrowers but as I see things, it’s not just rates that are being cut, the quality of security is not as attractive.
As I’ve said elsewhere on this forum, there’s nothing like a first charge on bricks and mortar to keep borrowers on the straight and narrow repayment path.
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Post by andrewholgate on Jun 17, 2014 9:09:41 GMT
Very true, but where security is more portable or less attractive than B&M, we bring in a much faster repayment profile to get your cash back sooner, reducing the risk. It's all about balance.
A
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unmadem
Member of DD Central
Posts: 377
Likes: 181
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Post by unmadem on Jun 17, 2014 9:12:23 GMT
chris A very small bug on the frontend. Suspect the display on the prebid section is only to 1 decimal place as it is showing as 8.8% when the actual rate is 8.75%.
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Post by Ton ⓉⓞⓃ on Jun 17, 2014 9:32:10 GMT
chris A very small bug on the frontend. Suspect the display on the prebid section is only to 1 decimal place as it is showing as 8.8% when the actual rate is 8.75%. Chris & co must've fixed it as it looks ok now. IN EDIT. I see what you mean and it is a slight discrepancy, The interest rate for the loan is on the pre-bid panel where you see your position and it's, as you say, 1dp and not to two dp. chris and team
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Post by chris on Jun 17, 2014 10:32:54 GMT
Front end team are on it.
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Post by bracknellboy on Jun 17, 2014 12:07:09 GMT
Is it just me ? The security looks pretty strong, even allowing for a London property small deflation, and assuming that the 2nd legal charge can be used even when its someone's primary residence. But the business itself ? I can accept the stripping out of costs, but the revenue growth ? The rate on this one looks a bit low to me: not because of the security, but of the increased likeliehood of it having to be called in.
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j
Member of DD Central
Penguins are very misunderstood!
Posts: 2,188
Likes: 540
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Post by j on Jun 17, 2014 12:28:03 GMT
Thought this would fill a lot quicker that it has since opening @ 10am (I know it's only been a few hours' old). Must be the 'lower than usual' rate on offer putting lenders off.
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unmadem
Member of DD Central
Posts: 377
Likes: 181
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Post by unmadem on Jun 17, 2014 19:03:52 GMT
Front end team are on it. the rate displayed under the horseshoe has the same issue chris
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Post by chris on Jun 17, 2014 20:20:15 GMT
Front end team are on it. the rate displayed under the horseshoe has the same issue chrisWell darn it, we fixed it in the bid list. That's unlikely to be fixed in the next couple of weeks as we build up for our big upgrade, but I'll see if I can squeeze it in sooner.
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Post by chris on Jun 17, 2014 20:22:07 GMT
Loan Number 100, and no bunting, dancing penguins, or anything? No sense of occasion! Keep 'em coming! I'll keep those in mind for loan 1,000. Wonder if we can hit it this year? Definitely next year. Better get coding, those penguins don't dance themselves.
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