GeorgeT
Member of DD Central
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Post by GeorgeT on Dec 18, 2017 1:30:20 GMT
In my opinion they are currently the best platform in the universe. Although as has already been pointed out this is partly due to their youthfulness and the fact that their loan book especially with regards to land and property is not yet old enough to have suffered any significant defaults.
However the quality of the platform goes deeper than that. The communications and speed of action in deposits and withdrawals is rocket like and the interest rates offered are market-leading. In addition whenever there is a shortage of information the people at COL spring into action and fill in the gaps without hesitation. When you have a problem and you email their support you get a fast response and they deal with your question on a personal basis and not by cutting and pasting a generic answer to a question you didn't ask.
The groundbreaking decision to carve up loans into smaller Tranches gives comfort to the Investor and enables you to spread your legs even within a specific loan and improve your liquidity.
The secondary market is not the fastest in the sector but I have always been able to sell out within a few days.
My advice would be to avoid the biggest loans which are offered with cash back because those are the ones on which the liquidity is poorest because of the activities of cashback Hunters who invest and dump.
The website is functional but not so easy to use on my smartphone and not quite as user friendly as the LY platform for example but that's a minor point.
Overall if you are not already signed up on COL I would recommend that you get signed up as soon as possible because the more investors who are using the site the better it is for everyone.
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Post by Deleted on Dec 18, 2017 18:08:59 GMT
Scalability is key question hanging over COL. I've invested but feel no need to rush more in for the next few months until I start seeing some serious money back. Right now it feels like a black box. Good coms so not panicing
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Post by df on Dec 18, 2017 19:33:33 GMT
Scalability is key question hanging over COL. I've invested but feel no need to rush more in for the next few months until I start seeing some serious money back. Right now it feels like a black box. Good coms so not panicing Similarly, I'd like to see what happens with 8.5m multi-termed and multi-rated B*****. If all tranches are repaid on time i will up my allowance for future Col property loans.
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msenanna
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Post by msenanna on Dec 20, 2017 12:05:31 GMT
Whilst I'm relieved the car loans have (hopefully) all worked out well, it doesn't really give us any indication what may happen WHEN one of these huge property loans goes wrong (it'll happen eventually) - different asset types and far more complex spanners that can be thrown in the works. I like Collateral, but I have a niggling feeling they might have gone into really big dev loans a bit too quickly. I think the same can be said of Lendy, MT and FS Indeed, I guess those of us who really like COL (along with the likes of MT) are almost wanting to fast forward to the point where a large property loan goes wrong so we can see how COL (and/or others) react, what the outcome is and whether we get out money back. Only at that point will we feel we really know how COL and the others can manage these property loans throughout the life of these loans. As for what happens to P2P in a downturn - am not really wishing that one on us anytime soon (I know some of the oldest P2P platforms were around in 2008 but it seems to me that P2P has changed substantially since those early days).
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Post by supernumerary on Jan 1, 2018 20:54:30 GMT
Dear Collateral Rep, You currently pay your interest on the first day of the month. Another platform used to do this, but today having brought in a new set of procedures and processes, they won’t be paying until tomorrow, the 2nd day of the month. May I be so bold and ask whether in the future, when you get bigger and even more successful, that you too may decide, without consultation to the lenders, do the same? I am trying to gauge your attitude, without naming directly the other platform, that IMHO, have made a retrograde decision. Is there anything in the process of paying lenders on the first day of the month, that will inhibit you continuing this good housekeeping in the future, as you build your business up? Thank you for reading and I hope that you don’t mind me putting you on the spot, with my questioning.
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Post by df on Jan 1, 2018 23:48:56 GMT
Dear Collateral Rep, You currently pay your interest on the first day of the month. Another platform used to do this, but today having brought in a new set of procedures and processes, they won’t be paying until tomorrow, the 2nd day of the month. May I be so bold and ask whether in the future, when you get bigger and even more successful, that you too may decide, without consultation to the lenders, do the same? I am trying to gauge your attitude, without naming directly the other platform, that IMHO, have made a retrograde decision. Is there anything in the process of paying lenders on the first day of the month, that will inhibit you continuing this good housekeeping in the future, as you build your business up? Thank you for reading and I hope that you don’t mind me putting you on the spot, with my questioning. Sounds to me more like "Dear Lendy..." question I trust that Col's punctuality record is not likely to fall in foreseen future.
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Post by supernumerary on Jan 2, 2018 8:24:59 GMT
Sounds to me more like "Dear Lendy..." question I trust that Col's punctuality record is not likely to fall in foreseen future. I was phrasing the question, in a way that did not mention the other p2p Company concerned, in the form of a 'case study question'. As you are a moderator on the forum and have mentioned one particular p2p Company, as it is diplomatically phrased, 'you can say that, but I will decline to mention the particular platform concerned!'
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jan 4, 2018 13:28:06 GMT
Dear Collateral Rep, You currently pay your interest on the first day of the month. Another platform used to do this, but today having brought in a new set of procedures and processes, they won’t be paying until tomorrow, the 2nd day of the month. May I be so bold and ask whether in the future, when you get bigger and even more successful, that you too may decide, without consultation to the lenders, do the same? I am trying to gauge your attitude, without naming directly the other platform, that IMHO, have made a retrograde decision. Is there anything in the process of paying lenders on the first day of the month, that will inhibit you continuing this good housekeeping in the future, as you build your business up? Thank you for reading and I hope that you don’t mind me putting you on the spot, with my questioning. Mmm, I notice that unusually for Gordon, there is no reply to your Case Study scenario. Sometimes silence says more than words ever can
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Post by Collateral Rep on Jan 4, 2018 13:46:10 GMT
Afternoon,
Our system is set to calculate and pay interest on the first of the month. I can't see why changing this would be necessary, so as it stands we will continue to pay interest on the first of the month.
Obviously as we grow investor numbers, the level of withdrawals on the first of the month is also growing, which is taking longer to process as we do this manually.
Many thanks,
Gordon
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Post by supernumerary on Jan 7, 2018 16:35:35 GMT
Afternoon, Our system is set to calculate and pay interest on the first of the month. I can't see why changing this would be necessary, so as it stands we will continue to pay interest on the first of the month. Obviously as we grow investor numbers, the level of withdrawals on the first of the month is also growing, which is taking longer to process as we do this manually. Many thanks, Gordon Happy New Year Gordon. Thank you for answering my 'case study question' that I posted on News Years Day 2018; Is there anything in the process of paying lenders on the first day of the month, that will inhibit you continuing this good housekeeping in the future, as you build your business up? It is gratifying to know that Collateral have a 'system' that will continue "...to calculate and pay on the first day of the month".
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Doc
Member of DD Central
Posts: 196
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Post by Doc on Feb 28, 2018 12:38:55 GMT
In my opinion they are currently the best platform in the universe. Although as has already been pointed out this is partly due to their youthfulness and the fact that their loan book especially with regards to land and property is not yet old enough to have suffered any significant defaults. However the quality of the platform goes deeper than that. The communications and speed of action in deposits and withdrawals is rocket like and the interest rates offered are market-leading. In addition whenever there is a shortage of information the people at COL spring into action and fill in the gaps without hesitation. When you have a problem and you email their support you get a fast response and they deal with your question on a personal basis and not by cutting and pasting a generic answer to a question you didn't ask. The groundbreaking decision to carve up loans into smaller Tranches gives comfort to the Investor and enables you to spread your legs even within a specific loan and improve your liquidity. The secondary market is not the fastest in the sector but I have always been able to sell out within a few days. My advice would be to avoid the biggest loans which are offered with cash back because those are the ones on which the liquidity is poorest because of the activities of cashback Hunters who invest and dump. The website is functional but not so easy to use on my smartphone and not quite as user friendly as the LY platform for example but that's a minor point. Overall if you are not already signed up on COL I would recommend that you get signed up as soon as possible because the more investors who are using the site the better it is for everyone. The times they are a changin'.
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michaelc
Member of DD Central
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Post by michaelc on Feb 28, 2018 14:59:12 GMT
They have a simple website?
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michaelc
Member of DD Central
Posts: 4,891
Likes: 2,767
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Post by michaelc on Feb 28, 2018 16:41:34 GMT
They have a simple website? They worked exceptionally hard with us and for us in delivering a top drawer user interface, a very good customer experience, super fast money transfers on and off platform and it's just my opinion some of the finest 'bling' loans available anywhere in p2p. I will not knock them for any of these things and am instead thanking them. Like many others I now await their promised status update which will hopefully be provided soon; I shall read it through carefully and try to comprehend what has happened to bring about the events of the last couple of days. There is so much to consider. With my best regards, J. HI Magenta. I think my poor attempt at humour was missed. I of course meant their current offline website. I guess it won't be much consolation that I have a a not insignificant sum invested with Col (which I guess thought might give me some licence to make a quick joke in the middle of this misery).
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Post by eascogo on Feb 28, 2018 17:21:43 GMT
They worked exceptionally hard with us and for us in delivering a top drawer user interface, a very good customer experience, super fast money transfers on and off platform and it's just my opinion some of the finest 'bling' loans available anywhere in p2p. I will not knock them for any of these things and am instead thanking them. Like many others I now await their promised status update which will hopefully be provided soon; I shall read it through carefully and try to comprehend what has happened to bring about the events of the last couple of days. There is so much to consider. With my best regards, J. HI Magenta. I think my poor attempt at humour was missed. I of course meant their current offline website. I guess it won't be much consolation that I have a a not insignificant sum invested with Col (which I guess thought might give me some licence to make a quick joke in the middle of this misery). Yes I thought Magenta might have missed the "tongue-in-cheek" flavour of your post. Made me laugh. I also feel lucky to have close to zero invested with Col.
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Post by supernumerary on Mar 1, 2018 10:58:29 GMT
In my opinion they are currently the best platform in the universe. Although as has already been pointed out this is partly due to their youthfulness and the fact that their loan book especially with regards to land and property is not yet old enough to have suffered any significant defaults. However the quality of the platform goes deeper than that. The communications and speed of action in deposits and withdrawals is rocket like and the interest rates offered are market-leading. In addition whenever there is a shortage of information the people at COL spring into action and fill in the gaps without hesitation. When you have a problem and you email their support you get a fast response and they deal with your question on a personal basis and not by cutting and pasting a generic answer to a question you didn't ask. The groundbreaking decision to carve up loans into smaller Tranches gives comfort to the Investor and enables you to spread your legs even within a specific loan and improve your liquidity. The secondary market is not the fastest in the sector but I have always been able to sell out within a few days. My advice would be to avoid the biggest loans which are offered with cash back because those are the ones on which the liquidity is poorest because of the activities of cashback Hunters who invest and dump. The website is functional but not so easy to use on my smartphone and not quite as user friendly as the LY platform for example but that's a minor point. Overall if you are not already signed up on COL I would recommend that you get signed up as soon as possible because the more investors who are using the site the better it is for everyone. The times they are a changin'. Changin' indeed! A profound comment to make, considering what has happened, in less than, 24 hours... Was it a guess? Did you have a hunch? Perhaps you had a 'sixth sense'? Or you 'finger' was close to the pulse? Whatever is was, changin' was perhaps an understatement...
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