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Post by Deleted on Feb 4, 2019 18:28:45 GMT
@filipkaradaghi , can you say what the pipeline looks like ? Haven't seen anything new come up for a while. Hi markyg61, We have shifted focus to loan origination after the various loan repayments and hopefully, loans will being to materialise again shortly. Regards, Filip
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Post by Ace on Feb 15, 2019 22:43:15 GMT
Any update on the definition of "shortly"?
I'm beginning to regret transferring some ISA funds here. No sniff of any new loans.
I had assumed that I would be able to pick up a few morsels on the SM, but I've discovered that it's only suitable for those with the digital dexterity of a concert pianist.
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Post by Deleted on Feb 17, 2019 11:53:55 GMT
Any update on the definition of "shortly"? I'm beginning to regret transferring some ISA funds here. No sniff of any new loans. I had assumed that I would be able to pick up a few morsels on the SM, but I've discovered that it's only suitable for those with the digital dexterity of a concert pianist. Hi Ace, Thank you for the question. In this context, I would define shortly as earliest possible that loan(s) meeting the platform's criteria and, subject to successful assessment, could become available for investment(s). Although we offer on loans almost daily, it is outside our control if a loan becomes eligible. We are aware that many loans have repaid recently and some investors may therefore have univested funds in their lending accounts. It is currently our main priority to identify, assess and launch new loans. Please let me know if you have any other questions. Regards, Filip
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Post by Deleted on Feb 22, 2019 9:44:25 GMT
Hi all,
Just an update on the loans pipeline prior to the weekend.
We have made around 10-15 loan offers and are waiting for them to be accepted prior to being able to proceed.
Generally, we are finding that it is taking longer for offers to be accepted and have noticed that there is a significant slow down in the market due to the current political uncertainty. Lending partners and brokers that we speak with report the same.
Have a good weekend and I will provide a further update in due course.
Regards,
Filip
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Post by Deleted on Mar 28, 2019 14:02:35 GMT
Hi all,
Just a quick update that we now have one loan in legals and three in valuations (which is more than we had for some time) and are looking to, subject to satisfactory assessment, launch them over the next weeks.
Regards,
Filip
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Post by Deleted on Apr 5, 2019 10:10:15 GMT
Hi all,
We have three other loans in legals and two in valuations.
Have a great weekend.
Regards,
Filip
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Post by bobbobbob on Apr 8, 2019 13:49:22 GMT
Hi, are there indications on loan sizes (100k/200k/300k) and whether these are 7-9% 9-11% >11%, obviously with no actual commitment to be held to these?
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Post by Deleted on Apr 8, 2019 14:09:09 GMT
Hi, are there indications on loan sizes (100k/200k/300k) and whether these are 7-9% 9-11% >11%, obviously with no actual commitment to be held to these? Hi bobbobbob, The loan scheduled to go live tomorrow is around 380k and rate of 7.8% (first legal charge, gross LTV around 58%). There are also two first charge loans with loan sizes around £100k and rates in the interval 7-9%. The second charge loans we are working on would have loan sizes 100-150k and rates in the interval >11%. As always, all of these details are preliminary and subject to change on or before the loan's go live date. I hope that this helps. Regards, Filip
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Apr 12, 2019 10:37:25 GMT
It was a bit irritating to sell some loan parts last night to try and get some more of the 14% loan after the limits had been lifted, only for the confirmation of the sales releasing funds to come after the loan limits were lifted (and it had subsequently sold out). Would be more joined up to confirm sales before new loans become available rather than after.
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Post by Deleted on Apr 12, 2019 11:24:30 GMT
It was a bit irritating to sell some loan parts last night to try and get some more of the 14% loan after the limits had been lifted, only for the confirmation of the sales releasing funds to come after the loan limits were lifted (and it had subsequently sold out). Would be more joined up to confirm sales before new loans become available rather than after. Hi IFISAcava, I apologise for this - it was miss from our side. We are still testing each secondary transaction prior to approving due to the substantial merge function released couple weeks ago. This should only take another week or so and secondary market parts will be processed much quicker again and per usual hours. My apologies again. Regards, Filip
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Apr 12, 2019 11:42:30 GMT
It was a bit irritating to sell some loan parts last night to try and get some more of the 14% loan after the limits had been lifted, only for the confirmation of the sales releasing funds to come after the loan limits were lifted (and it had subsequently sold out). Would be more joined up to confirm sales before new loans become available rather than after. Hi IFISAcava, I apologise for this - it was miss from our side. We are still testing each secondary transaction prior to approving due to the substantial merge function released couple weeks ago. This should only take another week or so and secondary market parts will be processed much quicker again and per usual hours. My apologies again. Regards, Filip Thanks for the quick response - explanation and apology accepted. Looking forward to normal service and more new loans.
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Post by Deleted on Apr 12, 2019 11:48:14 GMT
Thank you, IFISAcava.
We have two loans scheduled to go live next week and more in the pipeline.
Have a good weekend.
Regards,
Filip
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tarq
Member of DD Central
Posts: 125
Likes: 28
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Post by tarq on Apr 20, 2019 8:36:42 GMT
Filip, secondary market sales proceeds stuck again!
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Post by Deleted on Apr 20, 2019 8:57:26 GMT
Hi tarq,
Thank you - processed now.
Regards,
Filip
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tarq
Member of DD Central
Posts: 125
Likes: 28
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Post by tarq on May 9, 2019 10:09:19 GMT
Hi Filip,
Why do loans take so long to 'go live'?
I would have thought that all the checks had been completed before you offered it to us/them, but it seems a long time until the filled loan actually starts earning interest.
Annoying to have to sell paying loans to fund new ones, when I have money sitting in 'pending' loans paying nothing.
Thanks.
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