littleoldlady
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Post by littleoldlady on Oct 2, 2017 11:50:23 GMT
Although it is a second charge it looks sound at first glance. First charge is only £175k against a valuation of £500k (£450k 90 day) and the borrowers are owner occupiers so would lose their home if they defaulted. The only concern is that LLI give it a risk rating of C so they must have reservations that I cannot spot.
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rs
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Post by rs on Oct 2, 2017 12:19:47 GMT
Although it is a second charge it looks sound at first glance. First charge is only £175k against a valuation of £500k (£450k 90 day) and the borrowers are owner occupiers so would lose their home if they defaulted. The only concern is that LLI give it a risk rating of C so they must have reservations that I cannot spot. I don't think the borrowers will be able to pay this loan back from sale of business. Hence risk rating of C. The borrowers should be able to renew the loan though!
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ben
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Post by ben on Oct 2, 2017 12:20:58 GMT
If it was not a second charge I would have invested quite happily. I can only think with the risk band being C the borrowers have pretty poor credit history.
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Post by Deleted on Oct 2, 2017 12:22:51 GMT
Although it is a second charge it looks sound at first glance. First charge is only £175k against a valuation of £500k (£450k 90 day) and the borrowers are owner occupiers so would lose their home if they defaulted. The only concern is that LLI give it a risk rating of C so they must have reservations that I cannot spot. Hi littleoldlady. Although we are satisfied with the borrowers credit histories and credit scores, our reservation is that the loan that they originally obtained (and is now being refinanced) is overdue. Hence the higher risk rating. Regards, Filip
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littleoldlady
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Post by littleoldlady on Oct 2, 2017 14:22:54 GMT
I will risk have risked half my usual amount.
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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 Oct 2, 2017 14:26:17 GMT
I will risk half my usual amount. Not unless youve got a time machine you wont
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ben
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Post by ben on Oct 2, 2017 15:56:32 GMT
That went quicker then I thought it would.
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daveb4
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Post by daveb4 on Oct 2, 2017 16:28:41 GMT
Early warning given of two loans last week so popped some cash across. Missed both of them.
Any chance of restrictions in future for a few hours?
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Post by Deleted on Oct 2, 2017 16:45:46 GMT
Early warning given of two loans last week so popped some cash across. Missed both of them. Any chance of restrictions in future for a few hours? Hi daveb4. Sorry to hear that you missed out. We have few more loans potentially going live shortly, some of them bigger than the last two so will take longer to fill - details to follow in the next few days. Regards, Filip
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ben
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Post by ben on Oct 2, 2017 18:41:17 GMT
Early warning given of two loans last week so popped some cash across. Missed both of them. Any chance of restrictions in future for a few hours? Hi daveb4. Sorry to hear that you missed out. We have few more loans potentially going live shortly, some of them bigger than the last two so will take longer to fill - details to follow in the next few days. Regards, Think a limit of a £1000 for first few hours will be good to good everyone time to have a look and get money across.
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Post by Deleted on Oct 3, 2017 9:12:53 GMT
Hi daveb4. Sorry to hear that you missed out. We have few more loans potentially going live shortly, some of them bigger than the last two so will take longer to fill - details to follow in the next few days. Regards, Think a limit of a £1000 for first few hours will be good to good everyone time to have a look and get money across. Thank you for the suggestion, ben. We will consider how we could ensure that everyone has the possibility to invest in upcoming loans. Regards, Filip
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Monetus
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Post by Monetus on Oct 31, 2017 3:38:48 GMT
@filipkaradaghi Any update on when this loan will actually go live? Approaching a month in pending status now...
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Post by Deleted on Oct 31, 2017 8:01:12 GMT
@filipkaradaghi Any update on when this loan will actually go live? Approaching a month in pending status now... Good morning Monetus, Per the latest loan update, we expect the loan to complete this week provided that the solicitors acting on behalf of investors receive responses to outstanding enquiries along with building insurances. We do in most cases insist on full title searches to ensure that the security is unfettered in the event of a default (which is becoming even more important given what might be happening with some loans on other platforms). We also liaise with the solicitors acting on behalf of investors daily to ensure that there are no undue delays that we can control. I understand your frustration, but as a background, the average loan processing period (from application to completion) for a bridging loan is around 43 days and we have most of the time completed the process quicker, but sometimes these delays unfortunately occur and are often, if not always, outside of our control. With that said, we will continue looking into how we could improve the loan completion process as we are aware of that these delays are a source for frustration for all parties involved whilst keeping our fiduciary duties in mind. Regards, Filip
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littleoldlady
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Post by littleoldlady on Oct 31, 2017 14:33:45 GMT
Quick is good but not if it means cutting any corners. It is better to get it right later than wrong earlier.
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littleoldlady
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Post by littleoldlady on Dec 29, 2017 12:28:59 GMT
I got an email on 17th Nov saying the loan had been pulled and that a cashback of 0.5% would be paid, but I do not seem to have received it. It's a trifling amount but even so once promised....... p2pindependentforum.com/user/2530
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