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Post by overthehill on Jun 28, 2022 8:40:32 GMT
It's good to see that LP will be raising rates and well done to LP. But 0.1% p.a. and then another 0.1% p.a. in August is much less than I was expecting. FSCS protection is golden for me and, as others have stated, FSCS protected bank accounts have significantly increased their rates so LP looks increasingly poor by comparison. If/when any such platform goes into Administration, the LTVs etc. are not as hugely important as one may imagine them to be, as the Administrators and their fellow bandits such as the Lawyers etc. ALWAYS milk whatever money can be accessed for themselves, usually to the tune of millions of pounds, and it ALWAYS takes several years for lenders to eventually get their 5p in the £1 or whatever may be left over.
Except I would expect most loans at sub-50% LTV to be repaid/refinanced in an administration and there shouldn't be any fees for them. Even Fundingsecure had one or two repaid loans after administration!
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Post by Harland Kearney on Jun 28, 2022 16:11:33 GMT
Yeah, but... onboarding? Dear me. I did not get the email, what is onboarding?
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Post by Ace on Jun 28, 2022 16:19:24 GMT
Yeah, but... onboarding? Dear me. I did not get the email, what is onboarding? "We anticipate onboarding a few new lending partners over the coming few months we should have more details on this in our next update."
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Post by Harland Kearney on Jun 28, 2022 16:24:51 GMT
Thanks Ace Hm okay, I don't see the issue with this, in relation to the orginal posters tone.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 28, 2022 18:03:41 GMT
It's good to see that LP will be raising rates and well done to LP. But 0.1% p.a. and then another 0.1% p.a. in August is much less than I was expecting. FSCS protection is golden for me and, as others have stated, FSCS protected bank accounts have significantly increased their rates so LP looks increasingly poor by comparison. If/when any such platform goes into Administration, the LTVs etc. are not as hugely important as one may imagine them to be, as the Administrators and their fellow bandits such as the Lawyers etc. ALWAYS milk whatever money can be accessed for themselves, usually to the tune of millions of pounds, and it ALWAYS takes several years for lenders to eventually get their 5p in the £1 or whatever may be left over.
Except I would expect most loans at sub-50% LTV to be repaid/refinanced in an administration and there shouldn't be any fees for them. Even Fundingsecure had one or two repaid loans after administration!
Development loans can go really bad if there is a problem with finance, and while under demolition and construction the actual value may be really low and who wants a partially completed development. If it's just a bridge it should be OK with a low LTV.
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warn
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Curmudgeon
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Post by warn on Jul 4, 2022 18:30:15 GMT
Thanks Ace Hm okay, I don't see the issue with this, in relation to the orginal posters tone. It's not really an issue, Harland -- just a visceral reaction to yet another neologism that betrays a surrender to lazy communication. I'd got used to putting LP above that sort of language-mangling, is all. "It's me age," I suppose.
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Greenwood2
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Post by Greenwood2 on Jul 4, 2022 19:39:12 GMT
Thanks Ace Hm okay, I don't see the issue with this, in relation to the orginal posters tone. It's not really an issue, Harland -- just a visceral reaction to yet another neologism that betrays a surrender to lazy communication. I'd got used to putting LP above that sort of language-mangling, is all. "It's me age," I suppose. I think onboarding was around in the 70's or so. Language changes all the time.
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firedog
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Post by firedog on Jul 4, 2022 20:16:19 GMT
It's not really an issue, Harland -- just a visceral reaction to yet another neologism that betrays a surrender to lazy communication. I'd got used to putting LP above that sort of language-mangling, is all. "It's me age," I suppose. I think onboarding was around in the 70's or so. Language changes all the time. I think 1990s in the USA. You're right that language changes all the time, and new words are often needed. But when they make a sentence's meaning less clear (what's wrong with 'adding' in that example?), it makes me doubt the clarity of that writer's thinking. Particularly galling that it's Loanpad, whose communications have always been exemplars of clear communication. Allow us pedants a grumble!
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Post by Harland Kearney on Jul 5, 2022 0:09:50 GMT
Since the term "onboarding" seems to be the highlight complaint on the loanpad board this month, I'll consider that a postive.
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Post by Ace on Jul 5, 2022 8:00:42 GMT
Since the term "onboarding" seems to be the highlight complaint on the loanpad board this month, I'll consider that a postive. Another positive is that there are now no loans drawing on the ICF.
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mogish
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Post by mogish on May 30, 2023 13:09:28 GMT
5.8 in premium from 17th july 2023.
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IFISAcava
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Post by IFISAcava on Jun 18, 2023 11:51:54 GMT
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Post by nesako on Jun 19, 2023 19:05:17 GMT
What is the cheapest way to buy and then sell UK Gilts? Some platforms I found charge quite a bit for each transaction…
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IFISAcava
Member of DD Central
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Post by IFISAcava on Jun 22, 2023 16:39:31 GMT
What is the cheapest way to buy and then sell UK Gilts? Some platforms I found charge quite a bit for each transaction… I use Interactive Brokers £1 fee for each £1000 bond bought or sold
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