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Post by elephantrosie on Jun 14, 2017 18:26:21 GMT
Three new loans in this week so far, but the luton one which is of 11% filled up quicker. Why is that so?
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Post by lynnanthony on Jun 14, 2017 18:29:09 GMT
Luton wasn't new, it was an extension of an existing loan. Most lenders already in the Luton loan stayed with it.
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rxdav
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Post by rxdav on Jun 14, 2017 18:50:40 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment).
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pickles
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Post by pickles on Jun 14, 2017 19:54:47 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment). Is there a particular reason for that? And what are you moving into, if that's not an impertinent question
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rxdav
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Post by rxdav on Jun 14, 2017 20:37:45 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment). Is there a particular reason for that? And what are you moving into, if that's not an impertinent question I'm not alone at becoming concerned at the increasing lack of liquidity - my main reason (and I've been around P2P a few years now so know the scene reasonably well). I still have a larger proportion of my portfolio in P2P than I suspect many would consider prudent - but I'm not particularly risk averse (wouldn't be in P2P if I was). Basically I'm increasing my cash holding (I'm already fully invested elsewhere - stocks/shares, bullion etc.) - I even recently had a (quite successful) foray into Bitcoin - but the current volatility there is manic. However, if and when new opportunities arise I will hopefully be well placed to move quickly - albeit at the cost of a slightly decreased income stream in the meanwhile.
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metoo
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Post by metoo on Jun 14, 2017 21:17:28 GMT
A £45,525.00 bid 14/06/2017 19:02:43 during the 24h £400 bid restriction. Must be an investor in BPF698 belatedly ticking the renew box?
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johni
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Post by johni on Jun 14, 2017 21:40:06 GMT
A £45,525.00 bid 14/06/2017 19:02:43 during the 24h £400 bid restriction. Must be an investor in BPF698 belatedly ticking the renew box? Think this needs an explanation from MoneyThing as it has been stated £400 bid limit
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theshape
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Post by theshape on Jun 14, 2017 21:51:07 GMT
A £45,525.00 bid 14/06/2017 19:02:43 during the 24h £400 bid restriction. Must be an investor in BPF698 belatedly ticking the renew box? Think this needs an explanation from MoneyThing as it has been stated £400 bid limit Think it's been resolved. Now showing on the loans page with £45,525.00 available.
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bababill
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Post by bababill on Jun 14, 2017 23:01:54 GMT
For whatever reason I lost all my Luton loans on one of my accounts.
I thought I had checked the correct buttons; so I had to buy back as much as allowed.
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elliotn
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Post by elliotn on Jun 15, 2017 5:08:56 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment). Original ltv 69.2%. MV increased 1/4 million / 12% in 9 months (16% pa) to cover the additional interest for extension. Updated 90D is 990k vs loan of 710k ie 72% ltv. Repeatedly delayed PP. This doesn't paricularly stand out to me as "relatively low risk" bridging loan. Or am I missing something?
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rxdav
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Post by rxdav on Jun 15, 2017 8:23:49 GMT
I bought into it today - the £400 allowed.
It was the low LTV (and hence relatively low risk) that did it for me - yet still a reasonable 11% (and like many others I'm actually broadly reducing my exposure to P2P at the moment). Original ltv 69.2%. MV increased 1/4 million / 12% in 9 months (16% pa) to cover the additional interest for extension. Updated 90D is 990k vs loan of 710k ie 72% ltv. Repeatedly delayed PP. This doesn't paricularly stand out to me as "relatively low risk" bridging loan. Or am I missing something? elliottm,
The points you make are valid - however, I consider the following mitigate the risk and enhance liquidity (hence the title of this thread I suggest):
1. It's valued 'as is' - not on the basis of some hoped for GDV. 2. It's a relatively small loan - unlike some of the monsters seen recently on other platforms. 3. The VR is current - and likely as accurate (or not) as most. 4. I can't see any obvious reason why PP won't be granted (if you balked at every delayed PP you would be in a constant state of inertia!). 5. The MT platform is as open, forthright and communicative as any - and exponentially better than many (most?). 6. Broadoak take the first 5% hit should the loan default.
Now I'm not saying it's the best loan on P2P (I said 'relatively') - but it's got my £400 - and I'll be taking more today if I can.
DYOR - which of course you invariably do.
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GeorgeT
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Post by GeorgeT on Jun 17, 2017 10:56:47 GMT
Decent existing building in decent location with existing market value. Development is to a large extent conversion and extension of existing and not a start from scratch build. With our friend BG in line for the first 5% of any loss I rolled over without a moment's hesitation although I did not seek to up my stake in the project.
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elliotn
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Post by elliotn on Jun 17, 2017 14:15:45 GMT
Decent existing building in decent location with existing market value. Development is to a large extent conversion and extension of existing and not a start from scratch build. With our friend BG in line for the first 5% of any loss I rolled over without a moment's hesitation although I did not seek to up my stake in the project. I quadrupled mine with SM top ups too, a fine 6m loan
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fp
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Post by fp on Jun 17, 2017 14:41:04 GMT
It's a good loan if they get planning approved, otherwise it's just a £450k building IIRC 😏
I would hazard a guess that the large purchase during the limited purchase allowance time was an underwriters account taking the balance and then re-listing the loan on the primary market so the the renewal could be processed in full on the same business day, just a hunch
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metoo
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Post by metoo on Jun 17, 2017 16:42:18 GMT
I would hazard a guess that the large purchase during the limited purchase allowance time was an underwriters account taking the balance and then re-listing the loan on the primary market so the the renewal could be processed in full on the same business day, just a hunch Interesting idea, but why the 3.5 hour gap leaving the loan unbiddable until flagged here? Once it was released back on sale I guessed that it was the underwriter who was supposed to buy the excess if the loan didn't fill, but jumped the gun thinking the time had come.
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