blender
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Post by blender on Jul 13, 2015 8:51:08 GMT
Was it something we said?
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am
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Post by am on Jul 13, 2015 10:53:09 GMT
Is there any specific reason for the Hendon loan being difficult to fill other than it being large, London and late (behind schedule)?
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SteveT
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Post by SteveT on Jul 13, 2015 10:58:36 GMT
Is there any specific reason for the Hendon loan being difficult to fill other than it being large, London and late (behind schedule)? My thinking is that (as well as the factors you mention) the introduction of E band loans is skewing interest rate expectations higher across the board. Rates to sell loan parts on the SM are back up at late-2014 levels (A+ parts in SME loans up at 9.9%, A parts at 11.2%, etc.) and lenders are perhaps less inclined simply to shove money into illiquid property loans at 8%+2%CB at the moment.
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Post by GSV3MIaC on Jul 13, 2015 12:36:48 GMT
Property loans are also back to being illiquid .. things had looked up a few weeks back, but now there are so many new (small) auctions that autobid money is (presumably) being soaked up by the primary market, and few property parts are selling (at par). Or maybe Fleeing Counters have thrown their invisible switch back over to 'Primary'. Whatever the reason, property parts are looking harder to shift than ever.
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adrianc
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Post by adrianc on Jul 14, 2015 7:05:16 GMT
14010 - London 4, £250k, 8%+2%, 17mo - is set to fail even more miserably. It's a relatively small tranche of a big development - total of £1m in the first three, another £1m to come after this tranche - and 18% short with less than six hours to go. Will they prop it? Will they pull it? Will they let it go to the wire?
Who'd like to be a fly on the wall in the property team's office...?
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registerme
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Post by registerme on Jul 14, 2015 10:23:38 GMT
14010 - London 4, £250k, 8%+2%, 17mo - is set to fail even more miserably. It's a relatively small tranche of a big development - total of £1m in the first three, another £1m to come after this tranche - and 18% short with less than six hours to go. Will they prop it? Will they pull it? Will they let it go to the wire? Who'd like to be a fly on the wall in the property team's office...? That's an interesting one. If they let it fail they bollocks up the entire development, including both earlier and later tranches. I suspect there will be a lot of pressure to get it across the line.
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adrianc
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Post by adrianc on Jul 14, 2015 10:27:31 GMT
87% with 2hr20 to go.
Only £32,500 short - so I suspect they'll get the Work Experience lad out of the tea room.
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min
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Post by min on Jul 14, 2015 11:22:42 GMT
87% with 2hr20 to go. Only £32,500 short - so I suspect they'll get the Work Experience lad out of the tea room. 88% with 1 hour 24 mins to go. No sign of Frantically Clicking joining in yet.
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Post by longjohn on Jul 14, 2015 12:07:55 GMT
Still 94% with just over 15 minutes to go. No sign of Frantically Clicking. Perhaps work experience bod can't get in because of the Tube strike. They're leaving it pretty late if they're going to rescue this one. £35k of clicking in 10 mins? Update: Nope, they let it close only 95% filled. Wonder when Further Contrived will manage to develop a system workaround so they can complete on a loan that hasn't quite filled and simply add the "missing" balance onto future tranches. Islinton1 is reissued as 14192. 10% and no CB over 12 months. The previous was 8% over 14 months.
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Post by Deleted on Jul 14, 2015 12:10:45 GMT
needs another 1% for me better still 1.5%
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adrianc
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Post by adrianc on Jul 14, 2015 12:16:14 GMT
14010 update... £25k in half an hour? There's a serious injury risk here.
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min
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Post by min on Jul 14, 2015 12:32:01 GMT
14010 update... £25k in half an hour? There's a serious injury risk here. The cavalry arrived (Furiously Clicking Property Finance) with 25 mins to go. Buying it up in £100 lots.
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am
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Post by am on Jul 14, 2015 12:32:36 GMT
87% with 2hr20 to go. Only £32,500 short - so I suspect they'll get the Work Experience lad out of the tea room. 88% with 1 hour 24 mins to go. No sign of Frantically Clicking joining in yet. About £24,000 short and FCPF filling in the gap. (About £14,000 so far; ten minutes to go, and £10,000 required.)
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am
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Post by am on Jul 14, 2015 13:57:11 GMT
Next challenge. 14210. Bridging loan. £980,000 in short order, 10% p.a., 6 months duration. No cashback.
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jonah
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Post by jonah on Jul 14, 2015 14:10:34 GMT
Is anyone tracking the use or not of CB for these to try to see if there is a pattern?
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