|
Post by MoneyThing on Jun 4, 2016 19:50:50 GMT
How long did the £1.3m 11% loan take to fill? A week or two? 5 days to fill (before the SM was enabled). Regards, Ed.
|
|
freddy
Member of DD Central
Posts: 147
Likes: 145
|
Post by freddy on Jun 5, 2016 3:17:24 GMT
There's more in P2P than just these loans. Someone can see a better deal elsewhere or just a nice diversification opportunity and prefer to switch some money to that. No flexibility = have to delay investing to get the same possibilities. So bearing in mind the removal loans took at least a month to fill and was a third of the size of this one with a first charge compared to this second charge one, it will probably take 3 months+ to fill without incentives. People don't want to commit to not being able to sell their investments for that length of time. With incentives added, I reckon it would fill in a week. The Removals loans hung around because only 10% and from a personal perspective I also didn't find the loan that attractive. 13% and what looks to be a safer bet will attract me. Count me in.
|
|
jamesc
Member of DD Central
Posts: 447
Likes: 253
|
Post by jamesc on Jun 5, 2016 12:40:30 GMT
Sorry used to know it but forgotten now. How do you cancel loan parts you have put up for sale ?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,788
Likes: 11,007
|
Post by ilmoro on Jun 5, 2016 12:51:43 GMT
Sorry used to know it but forgotten now. How do you cancel loan parts you have put up for sale ? OTOMH - my loans - for sale - then Im guessing there is a cancel option next to loan
|
|
SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Jun 14, 2016 7:52:47 GMT
Morning, Just a note to let you know that we have decided to start the ball rolling with the refinance of the 1st charge (£1.48m) on Cardiff Student Accommodation (#10 on the pipeline). As such we will be looking at 5 x £300,000 advances over the next few weeks under the existing 3rd charge at 13% to lenders. We were going to look at undertaking the Stadium loan first (#21 on the pipeline), however more work is required on this so thought we would go ahead with Cardiff in the meantime. Should be able to get the first £300,000 tranche launched within a week. Kind regards, Ed MoneyThing Hi Ed, do you know yet when the first £300k tranche of the Cardiff loan will be launched? Thanks.
|
|
|
Post by MoneyThing on Jun 14, 2016 8:21:07 GMT
Morning, Just a note to let you know that we have decided to start the ball rolling with the refinance of the 1st charge (£1.48m) on Cardiff Student Accommodation (#10 on the pipeline). As such we will be looking at 5 x £300,000 advances over the next few weeks under the existing 3rd charge at 13% to lenders. We were going to look at undertaking the Stadium loan first (#21 on the pipeline), however more work is required on this so thought we would go ahead with Cardiff in the meantime. Should be able to get the first £300,000 tranche launched within a week. Kind regards, Ed MoneyThing Hi Ed, do you know yet when the first £300k tranche of the Cardiff loan will be launched? Thanks. Morning. All paperwork is now complete and approved. Should be in a position to complete 1st £300,000 drawdown today and launch probably on Thursday. Regards, Ed.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Jun 14, 2016 8:37:04 GMT
Hmm will be interesting to see what effect today's SS glut will have on demand..
|
|
duck
Member of DD Central
Posts: 2,548
Likes: 5,539
|
Post by duck on Jun 14, 2016 8:41:52 GMT
Hmm will be interesting to see what effect today's SS glut will have on demand.. Depends on how much DD the SS investors do, I certainly know where my money is destined
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Jun 14, 2016 9:00:45 GMT
I think it might be the same place mine is destined to.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Jun 16, 2016 15:54:13 GMT
MoneyThing I think Stevet mentioned this but I can't find the post, can you just confirm again, that should cashback be applied, it would be applied to all tranches? Just so there is no downside to investing in the first tranche(s), otherwise you might get people wait for the final tranche to see if cashback gets offered to clear that final tranche Whilst at it, can you also clarify when you will be turning the secondary market trading on (ie after each tranche has filled or only after all tranches have filled?) Also, should it not be filled, do you have enough interest from some form of underwriting for it definitely to go ahead? I wanted to liquidize some other assets, but its not guaranteed I can buy them back if it doesn't go ahead Am I right in thinking the existing 2nd charge will become the 1st charge, 3rd the 2nd charge and this new loan the 3rd charge? ?? Sorry, one last question, is it interest from date of bidding/investment or drawdown? Thanking yow!
|
|
david42
Member of DD Central
Posts: 419
Likes: 346
|
Post by david42 on Jun 16, 2016 16:37:57 GMT
MoneyThing I think Stevet mentioned this but I can't find the post, can you just confirm again, that should cashback be applied, it would be applied to all tranches? Earlier in this topic Ed said: ... if in the event we did need incentives then we would ensure that all participants on the new batch of loans would be rewarded (so that there would be no reason to hold back in placing bids).
|
|
|
Post by markp2p on Jun 16, 2016 17:19:58 GMT
Am I right in thinking the existing 2nd charge will become the 1st charge, 3rd the 2nd charge and this new loan the 3rd charge? ?? I think this new loan becomes a 2nd charge as well (hence the same interest rate as the existing 3rd charge).
|
|
|
Post by SophieThing on Jun 17, 2016 11:51:57 GMT
Hi Markp2p,
MoneyThing will hold a legal first charge over the site and we will rank the 12% lenders above the 13% lenders.
Kind regards
Sophie
|
|