cwah
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Post by cwah on Jun 14, 2019 18:38:03 GMT
Well Huddle have just put up a loan today. 16% secured with first charge against residential property at 13% LTV. Yes that’s not a typo. Yes, and filling up very quick because it's very small and 1st charge and LTV. I'm sure it will be fully funded on Monday when deposits arrive What's the website link? I wanna fill it up as well
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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 Jun 14, 2019 19:20:47 GMT
Yes, and filling up very quick because it's very small and 1st charge and LTV. I'm sure it will be fully funded on Monday when deposits arrive What's the website link? I wanna fill it up as well Read the Huddle board first maybe. P2P arm of ACF of multiple loans on ABL including mysterious non existant Scottish one. Authorisation via REBS. Couple of defaults incl the CT one linked to BN where the security doesn't appear to exist. Director is a very familiar name in P2P.
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Post by df on Jun 14, 2019 19:21:42 GMT
Yes, and filling up very quick because it's very small and 1st charge and LTV. I'm sure it will be fully funded on Monday when deposits arrive What's the website link? I wanna fill it up as well huddlecapital.comBy the time you register and your deposit reach the platform this loan will be gone. Loan flow on HC is very modest, but it might be worth registering and see what comes next
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sarahcount
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Post by sarahcount on Jun 14, 2019 20:07:54 GMT
Very pleased to read the MT proposals.
Moving to a relatively lower risk / lower return model chimes in with exactly what I've been looking for.
In the last year my funds on MT have declined as loans have repaid faster than new ones have appeared. I now hope to be able to reverse this.
I've always felt that I should be able to trust MT more than some other platforms that shall remain nameless. Sure they have made some mistakes but they do generally keep lenders informed even to the extent that their honesty and openness can sometimes backfire on them.
Like many people here I've been a bit burned by P2P failures but feel prepared to support MT with their new proposition and hope that this brings success to all involved.
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trevor
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Post by trevor on Jun 14, 2019 20:47:22 GMT
I will be comparing MT 8% with AC 8%.
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hazellend
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Post by hazellend on Jun 14, 2019 20:58:55 GMT
8% would need to be very low risk to interest me. Will watch with interest.
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bugs4me
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Post by bugs4me on Jun 14, 2019 21:26:39 GMT
What's the website link? I wanna fill it up as well Read the Huddle board first maybe. P2P arm of ACF of multiple loans on ABL including mysterious non existant Scottish one. Authorisation via REBS. Couple of defaults incl the CT one linked to BN where the security doesn't appear to exist. Director is a very familiar name in P2P. IMO - forget the (supposed) LTV, the (hopeful) return, always do your DD on the platform first in my book. This may be a great deal but not sure how the team have the time to operate so many businesses. They must be far better than myself at super fast multitasking.
Not suggesting in anyway there is anything wrong with this offering but the FOMO (fear of missing out) attitude has lead to many lenders/investors loosing some serious money with P2P platforms.
I hope MT can indeed pull this one off with offering lower returns combined with lower risk. Or is it lower returns to lenders to make them more competitive in the marketplace to borrowers with the risk still the same. Hope that does not prove to be the case and good luck to them.
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ptr120
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Post by ptr120 on Jun 14, 2019 23:34:50 GMT
The devil will be in the detail in terms of how this will be implemented, and I wonder what additional information or additional security may be given on these lower priced loans. I wonder if additional information disclosed might be something that should reasonably have been known on a comparable loan at 12% (or indeed was known, but wasn't disclosed). I read that initial conversations with lenders has been positive and I don't doubt that (particularly given the low loan flow rate for some time now). But I do wonder why they haven't chosen to initiate those conversations through this forum whos readers I suspect make up a very significant part of their active membership. Perhaps chocolate bars might be offered for suggestions on how best the welcome new plan might be best implemented?
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nyneil
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Post by nyneil on Jun 15, 2019 8:54:58 GMT
Lower return for lower risk is definitely the way my p2p investing is moving.
65 - 70% ltv would be a no-no @ 8%; 50 - 60% ltv first charge, non dev, would be acceptable IMHO.
What will you be looking for?
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hazellend
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Post by hazellend on Jun 15, 2019 8:58:33 GMT
Lower return for lower risk is definitely the way my p2p investing is moving. 65 - 70% ltv would be a no-no @ 8%; 50 - 60% ltv first charge, non dev, would be acceptable IMHO. What will you be looking for? 60% for a decent quality property . For less desirable property < 50%
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dovap
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Post by dovap on Jun 15, 2019 9:46:03 GMT
a genuine less <50% might be adequate (altho it seems to move towards the already scaled ops)
given how hopeless most ltvs are prob needs less than that to be remotely tempting
meh
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GeorgeT
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Post by GeorgeT on Jun 15, 2019 12:15:37 GMT
About 3 or 4 years ago Lendy sent a similar email saying they were offering safer loans at lower rates to give investors a choice.
We all know that wasnt true and it was just an excuse to increase their profit margin even further. I remember saying at the time on this forum that even 12% was not really commensurate with the risk and nobody should invest with a P2P company at an even lower rate.
Predictably , numerous of the 'safer', lower rate loans got into trouble including the castle which was a sub 12% loan and lenders lost about two thirds of their capital on that lower risk loan. I'm also pretty sure that the infamous London loan which caused investors massive amounts of anxiety for months for fear of being sued was also a safer, sub 12% loan.
I'm afraid my confidence in the P2P sector is shot to pieces and every penny I recover goes straight into FSCS protected accounts and premium bonds.
Even though I was one of the very first investors on Saving Stream when it was all boats and I almost completely bailed out before the brown stuff hit the fan (only bit in old terms Devon left) and therefore made a substantial profit on Lendy, I am left significantly out of pocket due to the Collateral debacle which has wiped out all my LY and MT gains and then a lot more.
And this despite some fairly cautious investing with Collateral in which I was in all of the 12% buy-to-let residential properties, many of which have already repaid 100% capital. I try not to think that over 1 year's salary that I worked incredibly hard for is likely going to end up paying the obscenely extortionate and unaudited, un-broken down fees of some fatcat administrators in central London instead of being returned to my bank account.
I rue the day I ever heard of P2P investing. My missing money has had a quite substantial impact on my life in my early retirement years, health and lifestyle.
I'm sad to say I think there are other investors like me and the activities of failed platforms like COL and LY have done it in for the rest. There will always be hobbyist investors and mega rich people who will like to take a punt but I don't see the sector ever attracting the number of investors it did at its peak. Too many of the P2P participants were really savers hunting for some interest from their capital and a lot of them have been badly burnt and won't be returning to the field regardless of how the product changes.
I'm afraid , in my view, there was a lot of mis selling in the P2P sector in the early days and the risks were glossed over to attract investors. Now the high risks are fully in the spotlight and have smacked most investors in the face.
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SteveT
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Post by SteveT on Jun 15, 2019 13:05:51 GMT
There were also a fair few idiots on this forum, crowing ad nauseam about how easy it was to make 12% 😉
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 15, 2019 13:26:23 GMT
There were also a fair few idiots on this forum, crowing ad nauseam about how easy it was to make 12% 😉 Some were even "philosophers" I understand.
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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 Jun 15, 2019 13:29:30 GMT
GeorgeT how many sub 10% loan actually ran into trouble on Lendy? Another sweeping statement without any actual research. Crowd property, Assets & Kufflink seem to be offering sub 10% loans successfully, supported by decent DD & monitoring ISTM. Not to mention all the 4-5% platforms who seem to be moving along nicely. P2P volumes continue to grow.
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