registerme
Member of DD Central
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Post by registerme on Jun 28, 2017 13:39:22 GMT
* Amount: Up to £750,000
* Term: 48 months (6 months minimum term)
* Rate: 13% - Fully Amortising (Capital and Interest paid each month)
* Security: Chattel Mortgage, Corporate Guarantee, Personal Guarantee
* Asset Security: £1.25 million
* Loan Live: 3pm 28/06/2017
(Note date / time changed from the original email).
I'll update the subject with loan id etc when we have it. On the face of it (ie the limited details we have at the moment) it looks good to me. Given the size I suspect we'll have a day or two to think about it anyway.....
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nw99
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Post by nw99 on Jun 28, 2017 14:02:54 GMT
Another cracking new loan
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SteveT
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Post by SteveT on Jun 28, 2017 14:18:44 GMT
Another cracking new loan Also from ablrate's perspective! The platform service fee (1%pm) is almost 3 times higher than the recent boaty loan (0.375%pm) and well above the existing Modular Buildings loan (0.583%pm). The Admin fee is higher too. DBW must be one hell of a negotiator 
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Post by ladywhitenap on Jun 28, 2017 14:19:45 GMT
I was online at 3pm and downloaded the proposal. After reading it through quickly say about 5 minutes, I noticed £60k invested already! Noway could those investor have read the documents!
LW
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Post by dan1 on Jun 28, 2017 14:39:17 GMT
Also from ablrate 's perspective! The platform service fee (1%pm) is almost 3 times higher than the recent boaty loan (0.375%pm) and well above the existing Modular Buildings loan (0.583%pm). The Admin fee is higher too. DBW must be one hell of a negotiator I wouldn't be surprised if that 1% was also the same percentage chance of this lasting the full four years. (Before being refinanced elsewhere, just in case any nervous nellies were wondering if I was hinting at the D-word.) Astute comment given repayments of 37 & 62
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r1200gs
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Post by r1200gs on Jun 28, 2017 15:43:26 GMT
And just as my funds are arriving from my FS wind down. Perfect. :-)
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Post by elephantrosie on Jun 28, 2017 16:00:39 GMT
where do i see the admin fees?
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james100
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Post by james100 on Jun 28, 2017 16:07:35 GMT
where do i see the admin fees? p13 of the Borrowing Proposal (at the bottom of the page).
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Post by df on Jun 28, 2017 19:15:23 GMT
I was online at 3pm and downloaded the proposal. After reading it through quickly say about 5 minutes, I noticed £60k invested already! Noway could those investor have read the documents! LW Perhaps this is due to trust in DBW's DD combined with 13% interest.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jun 28, 2017 19:40:12 GMT
TRUST, in a Platform's own, in-house DD - The Holy Grail! Any Platform that can achieve and maintain that deserves to be, and will be, wildly successful.  |
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blender
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Post by blender on Jun 28, 2017 19:44:55 GMT
Another cracking new loan Also from ablrate 's perspective! The platform service fee (1%pm) is almost 3 times higher than the recent boaty loan (0.375%pm) and well above the existing Modular Buildings loan (0.583%pm). The Admin fee is higher too. DBW must be one hell of a negotiator Yes, I am uncomfortable with this. Take the 48 months at face value (setting aside the intention to repay 62 before 6 months) and we are asked to believe that the borrower intends to pay over 25% pa on a secured loan for four years. It looks like a short term facility to me, but amortising as a longer one. If it is six months then the lenders put up all the cash, take all the risk, and receive 6.5% of capital, while the platform puts up no cash, takes no risk and receives 8% of the total capital. Why? I am keen on the platform taking a modest percentage, but at this level I start wondering what is going on, and needing independent valuations. Ablrate, why does this risk justify over 25% interest rate overall, and how do you justify taking nearly half the total interest paid on our cash (as fees)?
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TitoPuente
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Post by TitoPuente on Jun 28, 2017 19:56:26 GMT
TRUST, in a Platform's own, in-house DD - The Holy Grail! Any Platform that can achieve and maintain that deserves to be, and will be, wildly successful. NO. Not until the containers are resolved.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Jun 28, 2017 20:20:46 GMT
TRUST, in a Platform's own, in-house DD - The Holy Grail! Any Platform that can achieve and maintain that deserves to be, and will be, wildly successful. NO. Not until the containers are resolved. Ah, but you're being specific titopuente, I said "Any Platform", as a general comment. 
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Jun 28, 2017 20:24:54 GMT
GOOD questions blender ...... |
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stevio
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Post by stevio on Jun 28, 2017 20:29:48 GMT
AB appear to have structured this loan so they don't lose out if it is redeemed early
Does it have the normal minimum 6m interest?
It's notoriously difficult to value these modular loans, previously had to go on borrowers valuation only
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