eeyore
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Post by eeyore on May 28, 2022 10:15:40 GMT
Check the "Completed loans" page and there are 2 VAT loans listed. Looks like one sneaked out while we were not looking I can see three! Shackleton Wandsworth Weymouth I know nothing about the Shackleton loan - was this the initial "test" which PL filled using selected lenders rather than offering it? The Wandsworth loan was offered & filled in Dec-21. Weymouth - isn't this the VAT loan which appeared in the 'Pending' list last month? - it seems vaguely familiar.
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Post by uksoul on May 28, 2022 10:50:15 GMT
Check the "Completed loans" page and there are 2 VAT loans listed. Looks like one sneaked out while we were not looking I can see three! Shackleton Wandsworth Weymouth I know nothing about the Shackleton loan - was this the initial "test" which PL filled using selected lenders rather than offering it? The Wandsworth loan was offered & filled in Dec-21. Weymouth - isn't this the VAT loan which appeared in the 'Pending' list last month? - it seems vaguely familiar. Derby was the VAT loan due to be released this week and that is missing. Shackleton i think was the initial test loan.
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eeyore
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Post by eeyore on Jul 5, 2022 13:40:31 GMT
Another VAT bridge loan (for the purchase of two adjoining buildings in central London) has appeared in the "Pending" list. The FLR is available on the web-site.
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Post by overthehill on Aug 30, 2022 18:02:44 GMT
The latest one repaid after 6 weeks !
The vat loans are not worth getting out of bed for unless you have spare cash sitting idle. It helps Proplend's profits which is fine by me.
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eeyore
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Post by eeyore on Sept 23, 2022 9:20:33 GMT
For anyone who hasn't seen the email from Proplend yesterday, AlwaysOn lenders now have the option to add VAT loans to their portfolio. There is a button in the Auto-Lend setup screen to select investment in VAT loans when any VAT loan becomes available and since the button seems to toggle on and off, I presume the option can be de-selected.
There's a new VAT loan in the pending pipe-line (West N*** VAT) which should be available "early next week".
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ukinvestor
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Post by ukinvestor on Sept 23, 2022 9:33:24 GMT
Which reads to me like: You have to be an autoinvest lender if you want a VAT loan
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Post by Ace on Sept 23, 2022 9:52:41 GMT
Which reads to me like: You have to be an autoinvest lender if you want a VAT loan I thought the same, but the new vat loan is for £1.18m, so I expect there will be plenty left for us self selectors.
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Post by uksoul on Sept 23, 2022 13:34:58 GMT
Self selectors have always had access to the VAT loans, auto lenders could not access the loan on an opt in basis until now.
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huxs
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Post by huxs on Sept 23, 2022 13:50:29 GMT
It would have been better if they had let you go auto lending only for VAT loans as Self selectors will definitely lose out for most of these loans now.
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Post by Ace on Sept 23, 2022 14:39:58 GMT
Self selectors have always had access to the VAT loans, auto lenders could not access the loan on an opt in basis until now. Yes, but as huxs says, Always-on lenders will now have precedence so self-select will now miss out on all small vat loans.
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eeyore
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Post by eeyore on Sept 23, 2022 16:21:01 GMT
Which reads to me like: You have to be an autoinvest lender if you want a VAT loan Exhibiting the deep pessissism of my inner eeyore, I read it as the opposite: - the take-up of the VAT loans has been so low and/or slow that forcing the VAT loans on locked-in AlwaysOn lenders was the obvious path... Of course, as an ignorant old donkey who's never even tried to invest in a Self-Select VAT loan, I wouldn't know if there been a problem with filling the previous VAT loans.
But having had a particularly tasty thistle for lunch, maybe the reason is there in the text of the email - if AlwaysOn lenders invest in VAT loans at 9%, then the overall interest income will improve. Are Proplend now worried about fund withdrawals if the interest rate environment changes? AlwaysOn lenders do seem to be Proplend's core market.
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huxs
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Post by huxs on Sept 23, 2022 16:48:35 GMT
Which reads to me like: You have to be an autoinvest lender if you want a VAT loan Exhibiting the deep pessissism of my inner eeyore, I read it as the opposite: - the take-up of the VAT loans has been so low and/or slow that forcing the VAT loans on locked-in AlwaysOn lenders was the obvious path... Of course, as an ignorant old donkey who's never even tried to invest in a Self-Select VAT loan, I wouldn't know if there been a problem with filling the previous VAT loans.
But having had a particularly tasty thistle for lunch, maybe the reason is there in the text of the email - if AlwaysOn lenders invest in VAT loans at 9%, then the overall interest income will improve. Are Proplend now worried about fund withdrawals if the interest rate environment changes? AlwaysOn lenders do seem to be Proplend's core market. Dumb (and I don't mean lacking intelligence) investors are always the best investors
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Post by uksoul on Sept 23, 2022 17:25:59 GMT
Self selectors have always had access to the VAT loans, auto lenders could not access the loan on an opt in basis until now. Yes, but as huxs says, Always-on lenders will now have precedence so self-select will now miss out on all small vat loans. Does it state they have precedence? i took it they now have the option to invest in it.. Why would they have precedence?
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Post by Ace on Sept 23, 2022 17:30:41 GMT
Yes, but as huxs says, Always-on lenders will now have precedence so self-select will now miss out on all small vat loans. Does it state they have precedence? i took it they now have the option to invest in it.. Why would they have precedence? I haven't seen it stated anywhere, so I could be wrong, but I assumed they would have precedence since they currently do on tranche A allocations. I.e. up until now always-on allocations have taken place days before self-select allocations run.
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Post by uksoul on Sept 24, 2022 1:26:36 GMT
Does it state they have precedence? i took it they now have the option to invest in it.. Why would they have precedence? I haven't seen it stated anywhere, so I could be wrong, but I assumed they would have precedence since they currently do on tranche A allocations. I.e. up until now always-on allocations have taken place days before self-select allocations run. It would be a major shock if autolenders get precedence.
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