ablender
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Post by ablender on Nov 17, 2015 19:50:08 GMT
Where can I find the information about the PM and SM loans that are available on this platform? If I go to the eMarketPlace I can see the available loan. I can see that it has a first charge, but I cannot see any information about the security or the valuation of such security? There is no information about who is holding the item securing the loan either. I have a similar problem with the eMicroLoan where I cannot find a link to see any information. Also I think that this is a bit of a misnomer given that some of the parts have values of several 100 pounds and some reach or go beyond the 1000 pounds mark. (At least they are not micro in my book.) I am saying this in view of not being able to buy a section (part) of a loan part. See this thread.Any help would be appreciated. Cheers.
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Post by emoney on Nov 17, 2015 20:20:17 GMT
Hi AB lender, the loans all complete on the eMarketPlace and display risk grade information, the risk grades are here www.emoneyunion.com/lend/yields-and-risk-rating/ . Loans that are secured display the LTV and 1st or 2nd Charge. The Loan To Value (LTV) is the exposure against the security value, so if a first charge F1 loan is for £50,000 against a £100,000 property this is 50% LTV. If a borrowers Mortgage is currently £50,000 and we provide a second charge S2 loan for £20,000 then the loan offering would be at 70% LTV and displayed on the eMarketPlace accordingly. All loans that complete on the eMarketPlace have a reference number (Ref.). Each loan bid is provided with a unique (ID). You can match the eMircoLoan, to the initial loan, from the Borrower I.D displayed on the secondary market. All loans are listed in numerical order on the eMarketPlace. We will look to introduce a direct link from the eMicroLoans so you wont' have to go back and forth in the not to distant furture. I hope this answers your question?
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ablender
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Post by ablender on Nov 17, 2015 20:33:24 GMT
I am not sure if I understand. Let me try with a concrete example. If I bid on 38561, what will I be lending on and for?
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Post by emoney on Nov 17, 2015 21:02:02 GMT
With available funds in your account, you can bid an amount i.e. 1 x £500 or 10 x £50 up to the level of funds available in your account. Each bid get's it's own (ID). When the loan completes, this bid is given it's own loan i.d. these are the eMicroLoans that can be traded. Additional information is on the thread here.. p2pindependentforum.com/thread/3719/295-000-bridging-loan-listed
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ablender
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Post by ablender on Nov 17, 2015 21:50:27 GMT
We are both using English but we are not talking the same language. What I am asking about is information about each particular loan like that available on other platforms.
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huxs
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Post by huxs on Nov 17, 2015 23:15:12 GMT
Hi ablender, if you are asking how do you see the loan details. Then I think the answer is you cannot, eMoneyUnion do not (as far as I Know) provide any details about the loan apart from what is shown on the PM and SM pages. All the detailed information on the current property loan is only provided in an email, blog or on this forum and the guarantor loans normally have no information at all. This is one of the key things that it would be good for them to improve on the site.
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ablender
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Post by ablender on Nov 18, 2015 6:28:31 GMT
Hi ablender, if you are asking how do you see the loan details. Then I think the answer is you cannot, eMoneyUnion do not (as far as I Know) provide any details about the loan apart from what is shown on the PM and SM pages. All the detailed information on the current property loan is only provided in an email, blog or on this forum and the guarantor loans normally have no information at all. This is one of the key things that it would be good for them to improve on the site. Then, I am afraid, this is not for me. Thanks for the reply.
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Post by emoney on Nov 18, 2015 12:41:33 GMT
Thanks Gents, we would love to provide more information on our loan opportunities, but under data protection, and as all our borrowers deemed personal borrowers or partnerships, no personal information is to be displayed. Unlike commercial which has a lower threshold for data disclosure.
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huxs
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Post by huxs on Nov 18, 2015 16:33:50 GMT
It would still be hugely beneficial for the information you published on this forum about the property deal would be viewable on the PM and SM. Especially if this is not a one of loan type.
Also non specific deal information like (credit rating of borrow (even if in a range), credit rating of Guarantor(even if in a range), purpose of loan (from a list of reasons), and any other information that will be interesting to the lender but will not give away the borrows identity for the personal loans. I know mintos and twino are not uk based but they provide a lot more info on personal loans which I know some people are interested in.
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ablender
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Post by ablender on Nov 18, 2015 17:42:55 GMT
Thanks Gents, we would love to provide more information on our loan opportunities, but under data protection, and as all our borrowers deemed personal borrowers or partnerships, no personal information is to be displayed. Unlike commercial which has a lower threshold for data disclosure. I do not think that the data that I am asking for has anything to do with data protection.
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Post by emoney on Nov 18, 2015 18:21:23 GMT
I will take on board all comments, liaise with our compliance team and see what additional information we can provide on the platform. You are unlikely to see consumer loan platforms expand any more consumer borrower profile information than we do at present, if anything I think we provide the most? The big guys in the USA used to supply more data but have been gradually reducing this as it becomes commercially sensitive and also can drive an unfair outcome for borrowers, i.e. no one will lend to some one who want's to buy a car in The south east etc etc.. Thanks for the feedback, it really helps us develop.
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Post by gusgorilla on Jan 24, 2016 17:35:11 GMT
Thanks Gents, we would love to provide more information on our loan opportunities, but under data protection, and as all our borrowers deemed personal borrowers or partnerships, no personal information is to be displayed. Unlike commercial which has a lower threshold for data disclosure. I do not think that the data that I am asking for has anything to do with data protection. I too would like more relevant, anonymous information about the loans. Does anybody have any ideas to help eMoneyUnion provide better info without revealing names and addresses? Perhaps it is just a matter of looking what the other platforms do. Some are very open indeed end those are the ones I trust. Evasiveness makes me suspicious that there is either dishonesty or slackness.
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Post by emoney on Jan 25, 2016 17:14:17 GMT
Any comments regarding enhanced functionality request please send to lee@emoneyunion with subject of " New Platform Functionality"
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