littleoldlady
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Post by littleoldlady on May 8, 2017 17:43:55 GMT
The 0.5 commission is disappointing. The lack of premium/discounts will not be popular with some people, but they do create problems so on balance I don't mind. I assume that interest continues to accrue whilst a loan is unsold on the SM?
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fp
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Post by fp on May 8, 2017 18:04:38 GMT
The 0.5 commission is disappointing. The lack of premium/discounts will not be popular with some people, but they do create problems so on balance I don't mind. I assume that interest continues to accrue whilst a loan is unsold on the SM?It would seem so: Our loans pay interest monthly in arrears, and as such the sale price is adjusted daily to account for the interest accrued to the seller on that day of the month
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Post by Deleted on May 12, 2017 15:28:04 GMT
Hi all. Just a quick update that we now expect the next loan to go live either Monday or Tuesday next week, provided that there are no unexpected issues. A more comprehensive update will be issued tomorrow, including regarding the secondary market, via the blog and email.
Hope that you have a great a weekend.
Regards, Filip
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Post by Deleted on May 14, 2017 12:26:29 GMT
Hi all. The secondary market launch is now scheduled for 19 May due to some additional UX testing. We want to ensure that we have covered all areas and deliver the best possible experience prior to launch, in order to avoid making changes post launch. I apologies for the slight delay and trust that you will appreciate the new features.
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littleoldlady
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Post by littleoldlady on May 14, 2017 15:52:45 GMT
Hi all. The secondary market launch is now scheduled for 19 May due to some additional UX testing. We want to ensure that we have covered all areas and deliver the best possible experience prior to launch, in order to avoid making changes post launch. I apologies for the slight delay and trust that you will appreciate the new features. Very wise. You just can't test too much.
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Post by Deleted on May 16, 2017 12:24:46 GMT
Hi all. Just a quick update that we now expect the next loan to go live either Monday or Tuesday next week, provided that there are no unexpected issues. A more comprehensive update will be issued tomorrow, including regarding the secondary market, via the blog and email. Hope that you have a great a weekend. Regards, Filip Hi all. The loan that we expected to go live yesterday or today is slightly delayed as we have not yet received the surveyor's final report on the relevant security property, which we expected to receive yesterday. We now expect the final report to be delivered tomorrow or Thursday, and unless there are any significant changes from the draft report, the loan will be made available for investment shortly after.
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fp
Posts: 1,008
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Post by fp on May 16, 2017 13:31:47 GMT
Hi all. Just a quick update that we now expect the next loan to go live either Monday or Tuesday next week, provided that there are no unexpected issues. A more comprehensive update will be issued tomorrow, including regarding the secondary market, via the blog and email. Hope that you have a great a weekend. Regards, Filip Hi all. The loan that we expected to go live yesterday or today is slightly delayed as we have not yet received the surveyor's final report on the relevant security property, which we expected to receive yesterday. We now expect the final report to be delivered tomorrow or Thursday, and unless there are any significant changes from the draft report, the loan will be made available for investment shortly after. Any hints on loan value, rate etc?
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Post by Deleted on May 16, 2017 13:39:38 GMT
Hi fp. Details are as follows: gross loan amount around £56k (interest retained throughout term), gross LTV up to 70% (depending on final report), rate 11.5% per annum, second charge, 6 months term and security property located in Hounslow. Loan purpose is to complete a loft extension (property has been used as a BTL).
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littleoldlady
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Post by littleoldlady on May 17, 2017 11:07:22 GMT
I have cash in my ISA account waiting.
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Post by Deleted on May 18, 2017 7:08:49 GMT
Hi all. Just a quick update that the final valuation report for the above mentioned loan (Hounslow) is expected to be received this afternoon. If received today, the loan will go live tomorrow, provided that there are no material changes in the final report.
Joe, our CTO, will also shortly publish a blog post about the secondary market development. I will share it here once it is published.
Regards, Filip
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Post by Deleted on May 19, 2017 10:28:27 GMT
Hi all. Just a quick update that the final valuation report for the above mentioned loan (Hounslow) is expected to be received this afternoon. If received today, the loan will go live tomorrow, provided that there are no material changes in the final report. Joe, our CTO, will also shortly publish a blog post about the secondary market development. I will share it here once it is published. Regards, Filip Hi all. The loan is live now. Relevant details have been sent to your registered email.
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littleoldlady
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Post by littleoldlady on May 19, 2017 11:37:07 GMT
To be honest, this is not the juiciest loan I have ever seen. However I am keen to get our ISAs underway so I have put in all funds already transferred in from a previous Cash ISA, and will now request another tranche to be transferred ready for the next loan.
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Post by Deleted on May 19, 2017 11:48:39 GMT
To be honest, this is not the juiciest loan I have ever seen. However I am keen to get our ISAs underway so I have put in all funds already transferred in from a previous Cash ISA, and will now request another tranche to be transferred ready for the next loan. Hi littleoldlady. Thank you for your confidence. I cannot really comment on the loan itself as we cannot provide any advice or recommendations. You could use the loan's Q&A section if you have any specific questions that you wish to have addressed. We are working on further loans with various risk characteristics etc. and will make them available for investment, subject to due diligence and other.
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Post by Deleted on May 19, 2017 14:26:13 GMT
Hi all. As promised, we have posted a further update regrading the secondary market available here. The latest update also includes screenshots of secondary market functions. The launch has been further delayed due to that we have made quite substantial changes to the underlying database and functions, following extensive testing. We now anticipate to launch the secondary market in the next week. We apologies for this further delay. Regards, Filip
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littleoldlady
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Post by littleoldlady on May 19, 2017 18:06:26 GMT
Looks good. Glad to see the change to interest payment - it should always go to the person holding the loan at the time IMO.
You are right to delay launch until exhaustive checking has been done.
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