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Post by longjohn on Jul 2, 2014 18:12:27 GMT
After just 9 months of a 60 month loan it's going to be repaid. It was a big one too - £450,000 with all asset security.
Quite a shock to see RBR on it (before I read the details).
John
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Post by GSV3MIaC on Jul 2, 2014 18:51:04 GMT
Hopefully the revised loan book will show this sort of early repayment more clearly (i.e. with the right date!) since it bends the stats more than somewhat (in the optimistic direction at that) when the 'defaults per 60 months' are really 'defaults over 9' (in this case, happily, zero).
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mikeb
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Post by mikeb on Jul 2, 2014 20:08:49 GMT
After just 9 months of a 60 month loan it's going to be repaid. Wait until you see the green of the greenbacks before you count it as repaid early. 3181 asked to miss their payment around 7th June as they were "about to settle in full". Then there was a 2 week hold up ... now 25 days late and counting.
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blender
Member of DD Central
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Post by blender on Jul 2, 2014 20:36:25 GMT
I agree with mikeb. I was selling this at par at 9.6% just before it went RBR because I was much too exposed to it. Bought some to sell but it never would make a profit. Will be pleased to get it back without the 0.25%, but am feeling rather nervous.
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jimbo
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Post by jimbo on Jul 2, 2014 23:03:47 GMT
Don't see what there is to be nervous about. I think I can remember them saying in the Q&A that they may repay early.
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blender
Member of DD Central
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Post by blender on Jul 3, 2014 8:39:23 GMT
Logically I know you are right. It is just that I reviewed my account and saw that I was very exposed to that loan, that it was becoming less saleable and would probably never go above par - so I put it all for sale at par. Next day it went RBR as to be repaid. This is good news because we get the full month's interest and no sale fee - worth about £8 to me compared with selling at par. But I am now totally out of control of the process and there is a proverb about counting chickens which applies.
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Post by longjohn on Jul 3, 2014 11:19:18 GMT
Now repaid in full. Nice one chaps. Good interest rate while it lasted.
John
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jm72
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Post by jm72 on Jul 3, 2014 12:59:11 GMT
This one and 3181 both repaid - lots of money sloshing around in the autobid coffers. Maybe the two big property loans will fill, and leftover to cover the loan parts on the secondary market  |
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