arbster
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Post by arbster on Sept 4, 2015 14:30:42 GMT
The logical solution to these fiascoes would be to scrap the fixed interest rate and let the market decide the pricing. Accidentally went to the start of this thread and this comment made me chuckle, given recent events...
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TitoPuente
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Post by TitoPuente on Sept 4, 2015 14:38:34 GMT
The logical solution to these fiascoes would be to scrap the fixed interest rate and let the market decide the pricing. Accidentally went to the start of this thread and this comment made me chuckle, given recent events... I am clearly not a visionary.
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fasty
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Post by fasty on Sept 4, 2015 14:45:10 GMT
Accidentally went to the start of this thread and this comment made me chuckle, given recent events... I am clearly not a visionary. Your original statement might still have been correct, though....
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Post by flx123 on Sept 4, 2015 16:16:17 GMT
Ramsgate 1 (15500), A+ £390k (27%LTV), 12 months term, 8%+2%CB. Seems like this is the only tranche .... How do you know this will be the only tranche? Are all future tranches listed when a loan comes up for the first time?
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SteveT
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Post by SteveT on Sept 4, 2015 16:26:04 GMT
Ramsgate 1 (15500), A+ £390k (27%LTV), 12 months term, 8%+2%CB. Seems like this is the only tranche .... How do you know this will be the only tranche? Are all future tranches listed when a loan comes up for the first time? The Investor Report gives £390k as the total funding requirement.
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arbster
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Post by arbster on Sept 4, 2015 16:26:14 GMT
Ramsgate 1 (15500), A+ £390k (27%LTV), 12 months term, 8%+2%CB. Seems like this is the only tranche .... How do you know this will be the only tranche? Are all future tranches listed when a loan comes up for the first time? The comment from FC says: So whilst it says it will have multiple tranches, the request is for £390,000 and the LTV is 27% which would suggest this is all that FC is going to fund.
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min
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Post by min on Sept 11, 2015 15:03:47 GMT
Fumbling Characters seem to have changed the way they identify property loans. Now done by Postcode.
Think that 'Property Development In IP14 5RX' may struggle as only 1% splashback for 24 months. Not for me.
On StreetView the old pub in question has a sign outside advertising: 'Grubby Plates, Soapy Glasses, Smelly Landlord, Free Beer (tomorrow)'. Reminds me of sign outside pub in Yeovil which says: ' Cold Food, Warm Beer and Grumpy Landlord - come in and see for yourself'. Seems to do well!
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acky
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Post by acky on Sept 11, 2015 15:12:04 GMT
Fumbling Characters seem to have changed the way they identify property loans. Now done by Postcode. Think that 'Property Development In IP14 5RX' may struggle as only 1% splashback for 24 months. Not for me. Nor me, but it's a small loan so I'm sure it will fill up, especially with AutoBidders.
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Post by nickthefool on Sept 11, 2015 15:23:46 GMT
I assume it's to avoid confusion when there might otherwise be multiple loans called "Property Development in London" for example. Though giving the full postcode does mean it's probably quite easy to identify the site.
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Post by GSV3MIaC on Sept 11, 2015 16:14:11 GMT
Seems like a good idea to me - much easier to tie tranches together without having to dig into the detail pages. Some of the earlier property loans seem to have morphed names on the way through, which makes putting the bits together a real chore.
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jonah
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Post by jonah on Sept 11, 2015 19:04:04 GMT
15626 seems to be on the SM twice, some parts with each name. I wonder if auto bid sees them as different loans and has two nibbles.
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SteveT
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Post by SteveT on Sept 18, 2015 15:45:51 GMT
Just noticed 15846 (Richmond 7) filling rapidly at 7.5% + 2%CB. Normally wouldn't go near 7.5% but it's only 7 months term so I'm wavering ...
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Post by GSV3MIaC on Sept 18, 2015 16:49:46 GMT
SM rates have dropped a lot (~1% in many cases) since the Fixed Rate announcement (I really must publish an update to that table), so 7.5%+2%CB might be the best you can hope for. All the 10%+ A+ parts have flushed from the SM it seems, so I guess nobody is expecting any more to arrive.
Be interesting to see if they do have to use CB on non property loans to get them to shift at the fiddled rates, and even more interesting to see if they can be unloaded at par, or a small discount, before they go mammaries skyward. Unlike property loans, each repayment is a real adventure into the unknown.
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acky
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Post by acky on Sept 18, 2015 21:16:12 GMT
SM rates have dropped a lot (~1% in many cases) since the Fixed Rate announcement (I really must publish an update to that table), so 7.5%+2%CB might be the best you can hope for. All the 10%+ A+ parts have flushed from the SM it seems, so I guess nobody is expecting any more to arrive. Be interesting to see if they do have to use CB on non property loans to get them to shift at the fiddled rates, and even more interesting to see if they can be unloaded at par, or a small discount, before they go mammaries skyward. Unlike property loans, each repayment is a real adventure into the unknown. 15654 (A+, £260k) today closed with max rate 11.3% - fully 3% above the upcoming fixed rate. Suggests to me they'll struggle to fill big loans like this at the fixed rate without some CB.
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fasty
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Post by fasty on Sept 18, 2015 22:12:48 GMT
SM rates have dropped a lot (~1% in many cases) since the Fixed Rate announcement (I really must publish an update to that table), so 7.5%+2%CB might be the best you can hope for. All the 10%+ A+ parts have flushed from the SM it seems, so I guess nobody is expecting any more to arrive. Be interesting to see if they do have to use CB on non property loans to get them to shift at the fiddled rates, and even more interesting to see if they can be unloaded at par, or a small discount, before they go mammaries skyward. Unlike property loans, each repayment is a real adventure into the unknown. 15654 (A+, £260k) today closed with max rate 11.3% - fully 3% above the upcoming fixed rate. Suggests to me they'll struggle to fill big loans like this at the fixed rate without some CB. That's true, acky, but keep in mind that 11.3% was the maximum rate, only obtained by the minority of us who elected to play the last minute auction game. Average was only 9.9%, and that's elevated by the high rate minority. Perhaps Frosty Coating will just let the big ones run longer to fill rather than splashing out on incentives? Of course, I wouldn't complain about CB...
Edit: Anyway, don't miss 15709 late Monday afternoon, another £260k.
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