shimself
Member of DD Central
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Post by shimself on Feb 10, 2017 10:13:48 GMT
Practically all my BM investments are in loans with a bullet repayment profile.
So when you claim We have not invested in any loans that have realised losses, or defaulted to date. that would be because hardly any of the loans would have had much chance of defaulting so far.
All credit to you for disclosing this, but I'm having second thoughts. Can I ask, how many loans have reached term so far and how many are there in total?
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Post by bobthebuilder on Feb 11, 2017 9:37:27 GMT
I think BM's website must be considered misleading here. Every one of my loans, repaid and current, has shown a bullet repayment profile, but so far I have received multiple capital repayments on seven loans (just over 10% of the total number of loans) on a range of dates - in some cases weeks apart - which is hardly consistent with a bullet loan.
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Greenwood2
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Post by Greenwood2 on Feb 11, 2017 11:22:52 GMT
On most sites there are options to make partial repayments of loans at any time, so that may be what you are seeing. I have some loans labelled amortising, but most seem to be bullet recently.
If you have a specific example of one you think is incorrectly labelled I would ask Steve, there may be something going wrong.
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Post by stevefindlay on Feb 12, 2017 8:12:39 GMT
Practically all my BM investments are in loans with a bullet repayment profile. So when you claim We have not invested in any loans that have realised losses, or defaulted to date. that would be because hardly any of the loans would have had much chance of defaulting so far. All credit to you for disclosing this, but I'm having second thoughts. Can I ask, how many loans have reached term so far and how many are there in total? We have had 700+ loans repay in full out of 1,700+ invested in to date - you may like to see our statistics page (updated in January). Although we have now had 2 loans with crystallised losses, losing £810 out of £8.5M+ invested. Where on the website can you see the comment about no losses / defaults - as we need to update this comment?
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Post by stevefindlay on Feb 12, 2017 8:15:43 GMT
I think BM's website must be considered misleading here. Every one of my loans, repaid and current, has shown a bullet repayment profile, but so far I have received multiple capital repayments on seven loans (just over 10% of the total number of loans) on a range of dates - in some cases weeks apart - which is hardly consistent with a bullet loan. We classify Invoice Discount finance as "Bullet" as it is not amortising. However, in some cases the loan covers a number of invoices, and so the loan is repaid in part each time an underlying Invoice is repaid. This is why it may appear as Amortising, when it is more appropriate to call it a Bullet repayment.
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shimself
Member of DD Central
Posts: 2,560
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Post by shimself on Feb 12, 2017 9:57:26 GMT
Practically all my BM investments are in loans with a bullet repayment profile. So when you claim We have not invested in any loans that have realised losses, or defaulted to date. that would be because hardly any of the loans would have had much chance of defaulting so far. All credit to you for disclosing this, but I'm having second thoughts. Can I ask, how many loans have reached term so far and how many are there in total? We have had 700+ loans repay in full out of 1,700+ invested in to date - you may like to see our statistics page (updated in January). Although we have now had 2 loans with crystallised losses, losing £810 out of £8.5M+ invested. Where on the website can you see the comment about no losses / defaults - as we need to update this comment? faq protection may I introduce you to the firefox addon Search Site - or just google defaulted to date site:bondmason.com
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shimself
Member of DD Central
Posts: 2,560
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Post by shimself on Feb 12, 2017 10:05:10 GMT
Practically all my BM investments are in loans with a bullet repayment profile. .... We have had 700+ loans repay in full out of 1,700+ invested in to date - you may like to see our statistics page (updated in January). Although we have now had 2 loans with crystallised losses, losing £810 out of £8.5M+ invested. .... Yes sorry on reflection I can see that most loans are short term, so a lot of them would have come to term already
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oldtimer
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Post by oldtimer on Feb 12, 2017 10:07:23 GMT
Practically all my BM investments are in loans with a bullet repayment profile. So when you claim We have not invested in any loans that have realised losses, or defaulted to date. that would be because hardly any of the loans would have had much chance of defaulting so far. All credit to you for disclosing this, but I'm having second thoughts. Can I ask, how many loans have reached term so far and how many are there in total? We have had 700+ loans repay in full out of 1,700+ invested in to date - you may like to see our statistics page (updated in January). Although we have now had 2 loans with crystallised losses, losing £810 out of £8.5M+ invested. Where on the website can you see the comment about no losses / defaults - as we need to update this comment? It is here: help-faq>protection>How is my investment protected>Loan investment selection
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Post by stevefindlay on Feb 12, 2017 10:57:32 GMT
We have had 700+ loans repay in full out of 1,700+ invested in to date - you may like to see our statistics page (updated in January). Although we have now had 2 loans with crystallised losses, losing £810 out of £8.5M+ invested. Where on the website can you see the comment about no losses / defaults - as we need to update this comment? faq protection may I introduce you to the firefox addon Search Site - or just google defaulted to date site:bondmason.com*Embarrassed to admit* never seen this before - love it! Thank you.
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jimc99
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Post by jimc99 on Feb 15, 2017 10:06:33 GMT
A lot of my loans have "bullet" repayments. Bit concerned that the BM investment strategy says it aims to limit the duration of these to less than 12 months but several of mine are a lot longer including one at 48 months!
Why the divergence from the stated strategy?
Any thoughts from other investors?
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Post by stevefindlay on Feb 16, 2017 9:39:48 GMT
jimc99 - as @new2p2p mentions, very happy to answer any questions you may have on specific opportunities: invest@bondmason.com We do have a preference for loans less than 12 months, and the average term remaining is just ~5-6 months at present. But we may also look at loans with longer terms than 12 months if the return-risk profile is appropriate. In most / all of these longer-term cases the loans will be amortising rather than bullet though. You may like to see our statistics page which gives a good feel for the spread of underlying loans that came through in 2016.
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