puddleduck
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Post by puddleduck on Mar 6, 2018 12:39:59 GMT
I've had a capital repayment and a reduction in late loans so I am assuming one of the lates has repaid.
Frustratingly, the repayment is still sitting in a queue uninvested, while 7 loans are reported open for investment.
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zlb
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Post by zlb on May 18, 2018 21:08:06 GMT
Hi OctopusJoe thanks for the update and the promise of a new section on the account page hopefully soon.I think for myself and probably others part of the problem is the different size of loan parts i.e i have loans of £20/30/50 etc but from my early lump sums i have loans of £400 - £500 (l will let you guess which loans of mine are in trouble but the saying sod's law springs to mind!).It only takes one of the big loans not to repay and you have lost your interest. Hopefully you can also look at the diversification as you can seem to put a lump sum in and then a few months later see new money or repayments go into the same loans which is how i have ended up with some bigger loans at the start. Also your loan book shows the rate the borrower pays and sorry if i have missed it but how do you set the rate to lenders and what would trigger a raise? Hi macq, I thought I'd split my response into two separate posts to try and make this a bit clearer. In answer to your first question, it's worth noting that we will automatically rediversify the portfolio of any investor that has more than 10% of their portfolio in any one loan. While of course we can't guarantee either capital or interest, considering the conservative nature of the loans we make (a maximum of 76%, but actually around 60% on average) we're confident that you will get back what you are owed. The main risk we see here to investors would be one of liquidity; ie. if a loan goes into collection, we expect to be able to get the money back – it just could take some time before an investor would be able to access that money. Hi octopus Joe. Re 10%, can you confirm that if say, someone deposited/loaned £8000 that the loan sizes would be £800? Thanks
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Post by octopusjoe on May 21, 2018 10:27:17 GMT
Hi macq , I thought I'd split my response into two separate posts to try and make this a bit clearer. In answer to your first question, it's worth noting that we will automatically rediversify the portfolio of any investor that has more than 10% of their portfolio in any one loan. While of course we can't guarantee either capital or interest, considering the conservative nature of the loans we make (a maximum of 76%, but actually around 60% on average) we're confident that you will get back what you are owed. The main risk we see here to investors would be one of liquidity; ie. if a loan goes into collection, we expect to be able to get the money back – it just could take some time before an investor would be able to access that money. Hi octopus Joe. Re 10%, can you confirm that if say, someone deposited/loaned £8000 that the loan sizes would be £800? Thanks Hi zlb, We'll always aim to split an investor's money equally. Where that might not happen is if one of the loans doesn't have enough capacity. I hope that helps!
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zlb
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Post by zlb on May 21, 2018 14:50:06 GMT
Hi octopus Joe. Re 10%, can you confirm that if say, someone deposited/loaned £8000 that the loan sizes would be £800? Thanks Hi zlb, We'll always aim to split an investor's money equally. Where that might not happen is if one of the loans doesn't have enough capacity. I hope that helps! hi, could you specifically answer my question? Are you implying that you would put more than £800 into one loan? Eg £1500 in one loan and £100 in another? Thanks.
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Post by octopusjoe on May 21, 2018 15:18:14 GMT
Hi zlb , We'll always aim to split an investor's money equally. Where that might not happen is if one of the loans doesn't have enough capacity. I hope that helps! hi, could you specifically answer my question? Are you implying that you would put more than £800 into one loan? Eg £1500 in one loan and £100 in another? Thanks. Sorry, zlb, if that wasn't clear. First and foremost, as you noted above, we will not invest more than 10% of a user's investment into any one loan. So no – if you invested £8,000, we would not invest more than £800 in one loan. We'd ideally invest you across more than 10 loans – and if we can, we will.
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