elliotn
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Post by elliotn on Sept 5, 2017 4:50:07 GMT
I'm not a fan of the loans with cashback. BL00046 shows what can happen to the SM for such loans, making it less liquid. i agree BL46 is a good loan, sadly made illiquid. Abandoned development plot, RM offer close to loan value so uplift reliant on getting PP amendment after acquisition (value might be destroyed depending on remedial work required for the prior development), the accountant is inexperienced for larger scale developments and the subsequent loans suggest at least concentration risk and possibly over-stretch (or even speculation funded at other peoples' expense) & BL26 is far bigger without any liquidity trap - what made it a good loan for you?
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m2btj
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Post by m2btj on Sept 5, 2017 7:37:51 GMT
No, he is on a mission when it comes to valuations - any platform, any time the same repeated post will appear. Now we have the obligatory ozboy comment we can get on with the assessment of the proposal  And who among you will join me on my valiant and heroic quest?!  You can count me in! Accurate valuations underpin the whole deal & ensure our hard earned cash can be salvaged in the event of default. Every P2P platform dealing with property or land loans should be rigorously questioning all VR's. I am of the opinion that surveyors will give you the valuation you want as long as you pay their not inconsiderable bills! Property prices are cooling & a GDV today may be totally inaccurate in 12 months.
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ash83
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Post by ash83 on Sept 5, 2017 9:55:22 GMT
It looks like the first part of this loan is filling much faster than the rest, doesn't this mean that if someone wants to invest let's say 100K (just a figure) he/she is better off to put it all in the first part?
Does this mean that the first part will start gaining intrest before the other three?
I want to invest some money in this loan but I'm wondering what makes more sense, split it equally or put it all in one part (first part).
Thanks
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GeorgeT
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Post by GeorgeT on Sept 5, 2017 10:34:15 GMT
The herd mentality of investors is really in evidence here with seemingly almost everybody pouring all their funds into one single tranche of this loan because that is what everyone else is doing. That must be the case or else we would see an even distribution of take up across the 4 tranches. When I invested yesterday I divided my pot equally among the 4th tranches because that is the sensible, rational thing to do because if you do want to sell some you never know which tranches will have the best liquidity and which will have the worst. The only explanation I can see for one tranche filling much much faster than the others is that once a tranche is filled it becomes tradable on the secondary market but to me that doesn't override the bigger benefit of spreading your eggs.
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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 Sept 5, 2017 10:47:35 GMT
The herd mentality of investors is really in evidence here with seemingly almost everybody pouring all their funds into one single tranche of this loan because that is what everyone else is doing. That must be the case or else we would see an even distribution of take up across the 4 tranches. When I invested yesterday I divided my pot equally among the 4th tranches because that is the sensible, rational thing to do because if you do want to sell some you never know which tranches will have the best liquidity and which will have the worst. The only explanation I can see for one tranche filling much much faster than the others is that once a tranche is filled it becomes tradable on the secondary market but to me that doesn't override the bigger benefit of spreading your eggs.Unlikely as its all the same loan. I think the herd might have been better in following the errant wildebeast in this one. 
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elliotn
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Post by elliotn on Sept 5, 2017 12:42:08 GMT
The herd mentality of investors is really in evidence here with seemingly almost everybody pouring all their funds into one single tranche of this loan because that is what everyone else is doing. That must be the case or else we would see an even distribution of take up across the 4 tranches. When I invested yesterday I divided my pot equally among the 4th tranches because that is the sensible, rational thing to do because if you do want to sell some you never know which tranches will have the best liquidity and which will have the worst. The only explanation I can see for one tranche filling much much faster than the others is that once a tranche is filled it becomes tradable on the secondary market but to me that doesn't override the bigger benefit of spreading your eggs. The sheeple will not get CB unless the whole loan is drawn down and presumably preparatory SM flipping can only start if '51 is filled/released 1st? A potentially high class strategy (unless BHs who helped fill the vacuum are now hovering to block the passage). Edit - crossesd with Godon.
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Post by Collateral Rep on Sept 5, 2017 13:28:03 GMT
Afternoon,
As these 4 loan parts are all linked, the secondary market will not activate until all 4 loan parts are full.
Many thanks,
Gordon
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Post by elephantrosie on Sept 5, 2017 14:21:30 GMT
fair and square.
i saw a BH who invested 5k in each loan
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Post by elephantrosie on Sept 5, 2017 14:25:28 GMT
the last loan with CB took 32 days to filled up. im guessing this will take longer..
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elliotn
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Post by elliotn on Sept 5, 2017 15:04:57 GMT
the last loan with CB took 32 days to filled up. im guessing this will take longer.. Major problem with BL48 was whether PP remained extant was not convincing (a post-holiday phone call at best). This one has necessary PP in place and despite the psf looking a bit toppy has already had >1/4 taken out. Limiting factor might be regional/director overlap with 46/8. Edit - 1/2 gone in 2 days elephantrosie , what difference some PP makes.
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peteuk
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Post by peteuk on Sept 5, 2017 15:41:09 GMT
Bottom Line - Are the Valuers reputable, and does the " Market Value Freehold Site Vacant Possession - We are of the opinion that the Market Value of the Freehold site on a Vacant Possession basis with the benefit of the planning permission is the sum of £1,300,000." stack up? Or is it the usual toilet paper? You are getting confused with fundingsecure
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peteuk
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Post by peteuk on Sept 5, 2017 15:46:24 GMT
Oops i muckud up the previous post what i meant to say was well said ozboy very similar set of circumstances on the rishton loan on FS which turned into a ongoing nigtmare to many similarities for my liking very high risk
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Sept 5, 2017 16:13:56 GMT
Oops i muckud up the previous post what i meant to say was well said ozboy very similar set of circumstances on the rishton loan on FS which turned into a ongoing nigtmare to many similarities for my liking very high risk I bit the bullet and dived in, hope I don't drown. ( Emoticon here of rabbit staring into headlights )
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guff
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Post by guff on Sept 5, 2017 16:44:57 GMT
Oops i muckud up the previous post what i meant to say was well said ozboy very similar set of circumstances on the rishton loan on FS which turned into a ongoing nigtmare to many similarities for my liking very high risk I bit the bullet and dived in, hope I don't drown. ( Emoticon here of rabbit staring into headlights ) More than 12%. More than 100 days. [rhetorical]What's not to like...[/rhetorical]
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nick
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Post by nick on Sept 7, 2017 11:11:20 GMT
When should I expect the CB to paid on these loans? I want to stick a note in the diary to check.....
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