vmail
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Post by vmail on May 19, 2017 12:25:15 GMT
Thanks, I don't see loans below 12% i had to turn tampermonkey off I never said I wanted to see those loans, or ones that have less than 0 days or ones that have less than £1 available.
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Post by df on May 19, 2017 23:12:31 GMT
9% lendy.......12% collateral. why move unless lendy charges are much higher than collaterals For a 12% loan Ly charged 18% interest (12% lender/6% Ly) + 2% acceptance fee + 2% broker fee + 2% exit fee ie 24% equivalent for a 12m loan. We have not been told the spread on lower rate loans although MT have also been able to float a loan at a higher lender rate so other platform spreads may be lower. Interestng this one was only drawn down a month ago. #FullyPaid 😎 Valuation Date 31/03/2017, Valuation Company Colin Lilley - appears to be used by both platforms, just drawn down dates are a month apart. No mention of any possible early repayment in Lendy's "update". At the moment have parts of this loan in both platforms and a bit confused, who's got 1st legal charge?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 19, 2017 23:27:29 GMT
For a 12% loan Ly charged 18% interest (12% lender/6% Ly) + 2% acceptance fee + 2% broker fee + 2% exit fee ie 24% equivalent for a 12m loan. We have not been told the spread on lower rate loans although MT have also been able to float a loan at a higher lender rate so other platform spreads may be lower. Interestng this one was only drawn down a month ago. #FullyPaid 😎 Valuation Date 31/03/2017, Valuation Company Colin Lilley - appears to be used by both platforms, just drawn down dates are a month apart. No mention of any possible early repayment in Lendy's "update". At the moment have parts of this loan in both platforms and a bit confused, who's got 1st legal charge? Lendy. The Collateral loan will take out Lendy when the sale completes. At the moment the borrower has the funds from Lendy, the Collateral funds will be sat in the client account pending drawdown and completion of the purchase by the new borrower, and then the repayment of Lendy loan.
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daveb4
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Post by daveb4 on May 21, 2017 5:55:02 GMT
Not exactly flying off the shelves? A number of deals on a number of platforms over last few weeks along with a few repayments. Appears lots of cash going in lots of directions. I had some spare cash in L so popped into this loan to earn some interest over the weekend which looks like at least a week at this rate.
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Post by df on May 21, 2017 18:19:52 GMT
Not exactly flying off the shelves? A number of deals on a number of platforms over last few weeks along with a few repayments. Appears lots of cash going in lots of directions. I had some spare cash in L so popped into this loan to earn some interest over the weekend which looks like at least a week at this rate. Looks like the availability of property loans across MT/L/C is exceeding current investors' demand.
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littonowl
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Post by littonowl on May 21, 2017 21:55:11 GMT
Not exactly flying off the shelves? A number of deals on a number of platforms over last few weeks along with a few repayments. Appears lots of cash going in lots of directions. I had some spare cash in L so popped into this loan to earn some interest over the weekend which looks like at least a week at this rate. Looks like the availability of property loans across MT/L/C is exceeding current investors' demand. I wonder now if it's also a case of people waiting for IFISA's by the respective platforms and not wanting to put any further additional/fresh cash into loans outside of the tax wrappers?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 21, 2017 22:10:05 GMT
Or maybe a General Wariness, among readers on here anyway, of the arguably decreasing "Quality" of the Property Loans on offer? There are those, we know, who buy everything & anything and sell at 30-60-100 days before maturity, but those of us who prefer to do DD I believe are becoming increasingly weary from doing said DD to an exhausting extent that we shouldn't be expected to, and shouldn't have to.
(Yes, yes, I know, we shouldn't expect "Quality" Loans for 12-13% and we should expect to have to put up with dodgy/dishonest Borrowers, blah, blah, you don't get 12-13% for nothing, blah, blah.)
No Names, No Pack Drill (and not particularly pointed at COLL!)
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dermot
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Post by dermot on May 22, 2017 13:10:35 GMT
Maybe it is just that CO's lender base has used up all the coins from down the back of the sofa for now - after all, the biggest CO loan yet filled pretty quickly last week.
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hazellend
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Post by hazellend on May 22, 2017 14:50:37 GMT
maybe it is just that CO's lender base has used up all teh coins from down eh g back of the sofa for now - after all, the biggest CL loan yet filled pretty quickly last week. Which proves we are not in an asset P2P bubble as many were suggesting. I can't make new money fast enough to take advantage of all the opportunities available. Definitely this market is not exhibiting bubble like behaviour.
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dermot
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Post by dermot on May 22, 2017 15:06:03 GMT
I've just flogged off a slew of Lendy loans that were getting a bit close to term and I'd started to have misgivings about staying to the end - and I'll bung a good few hundred into each of these loans. Pity they are only 90 days though.
Actually, though, I'm going to owe HMRC a wodge of cash in a few months, so I should really have bought more of the 60 day ones, while I had the chance.
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metoo
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Post by metoo on May 22, 2017 16:11:02 GMT
Combined value of these 7 loans is 52% of the Bolton tranche, but no CB here to incentivise. As the LTV is already 69.46%, any that need refinancing in 3 months time will be over 70% LTV on a valuation which already exceeds recent sales prices. If a BTL refinance is forthcoming in that timescale, well and good. Because the properties are separately financed, the LTV doesn't fall if a property gets sold. Instead, the borrower gets to use the cash released. This may work for the borrower's needs and simplify the financing, but could increase the risk of difficulty refinancing in 3 months time if needed.
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dermot
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Post by dermot on May 22, 2017 16:14:36 GMT
Actually, though, I'm going to owe HMRC a wodge of cash in a few months, so I should really have bought more of the 60 day ones, while I had the chance. And if* they defaulted and took 6 months to resolve? (*Not saying they will or are even likely too, but no one can guarantee they won't, either.) No problem at all. Not being a lunatic, I never rely on p2p loans being redeemed on any particular timetable and *always* keep upwards of a year's cash requirements in FCA or HM Gov (Premium Bonds suffices to cover all of my gambling needs, thanks) covered pots. That said, I'd *prefer* not to draw from them if at all possible, as I'd get an interest hit for not giving 90 or 180 days prior notice to withdraw from some of them.
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dermot
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Post by dermot on May 22, 2017 16:40:56 GMT
Not being a lunatic, I never rely on p2p loans being redeemed on any particular timetable and *always* keep upwards of a year's cash requirements in FCA or HM Gov (Premium Bonds suffices to cover all of my gambling needs, thanks) covered pots. Good to read, although presumably FSCS rather than FCA - the former being useful, with the latter being a guard dog bought and paid for by the very organisations they are supposedly protecting us from. Might as well have your burglar alarm installed by B & E Bros Ltd. Absolutely correct FSCS is indeed the one - slip of the keyboard in my dotage.
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drgonzo
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Post by drgonzo on Jul 9, 2017 9:15:58 GMT
I assume these COL loans are still not drawn down yet, as the Lendy loan is still active and the latest update on it is: 06/07/2017 - Sale of remaining units being delayed by the potential purchaser but the sale is still expected to proceed.
Is there anywhere we can see the draw-down status of a loan on Collateral?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 9, 2017 10:18:08 GMT
I assume these COL loans are still not drawn down yet, as the Lendy loan is still active and the latest update on it is: 06/07/2017 - Sale of remaining units being delayed by the potential purchaser but the sale is still expected to proceed. Is there anywhere we can see the draw-down status of a loan on Collateral? COL did start putting a 'Drawdown Date:' entry in the loan details - eg: see BL00017 - but that practice was either short-lived or very little has actually drawndown since.... Tagging Collateral Rep to see if he can enlighten us. Drawdown BLs have a larger type face for days remaining in the listing page and the drawdown date in the particulars eg BL043/026.
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