littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Oct 23, 2017 10:25:27 GMT
Too risky for me. A pity as I have a lot of money in my ISA account (well actually temporarily withdrawn but not doing much, and I have to put it back or lose the tax shelter). I wish LLI would come up with some better quality loans albeit at a much lower rate.
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Post by munchydave on Oct 23, 2017 12:08:59 GMT
Too risky for me. A pity as I have a lot of money in my ISA account (well actually temporarily withdrawn but not doing much, and I have to put it back or lose the tax shelter). I wish LLI would come up with some better quality loans albeit at a much lower rate. Same for me. Lot's of cash to invest but losses on other sites are making me very distrustful of all loans on offer on all P2P lending. No point in 17.5% if you loose your capital. Valuations are often nowhere near the recovered money after selling on defaulted loans. The simple fact is why should anyone pay high interest rates on a secured loan if there is plenty of equity in the property? I would rather invest at 8% on a very good and secure investment than risk all on this sort of loan.
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Post by Deleted on Oct 23, 2017 12:40:30 GMT
Hi littleoldlady and munchydave,
The returns should be (and hopefully are on LLI's platform) higher for loans deemed more risky, which among other things include an assessment of the borrower's credit history, the realisable value of the property and other. All investments, including P2P loans, are risky in nature and there is always the possibility of a total capital loss.
We are trying to balance this by including loans of various risk profiles and have a couple of loans in our pipeline that have lower risk rating than this loan (and already had a number of loans which have a lower risk rating than this one).
Regards,
Filip
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stevio
Member of DD Central
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Post by stevio on Oct 23, 2017 13:02:13 GMT
Hi littleoldlady and munchydave, The returns should be (and hopefully are on LLI's platform) higher for loans deemed more risky, which among other things include an assessment of the borrower's credit history, the realisable value of the property and other. All investments, including P2P loans, are risky in nature and there is always the possibility of a total capital loss. We are trying to balance this by including loans of various risk profiles and have a couple of loans in our pipeline that have lower risk rating than this loan (and already had a number of loans which have a lower risk rating than this one). Regards, Filip I was happy with this one and I haven't invested in the lower rate ones. Thank you for giving a range of investments, please keep it up
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Post by munchydave on Oct 23, 2017 14:23:02 GMT
Hi littleoldlady and munchydave, The returns should be (and hopefully are on LLI's platform) higher for loans deemed more risky, which among other things include an assessment of the borrower's credit history, the realisable value of the property and other. All investments, including P2P loans, are risky in nature and there is always the possibility of a total capital loss. We are trying to balance this by including loans of various risk profiles and have a couple of loans in our pipeline that have lower risk rating than this loan (and already had a number of loans which have a lower risk rating than this one). Regards, Filip Hi Filip. I understand that capital is at risk, but this risk can be limited if the valuation of the secured property is a true and reasonable reflection of current market values. Defaults do not bother me if after a default the property can be sold and all investor losses recovered. Short of a general downturn in property values then I would expect capital losses to be a rare event. As far as I know no investor has lost money on LLI's platform but issues with other P2P sites I invest with concern me. I will not name them, but I am sure you know them as well as me. Numerous loans over 6 months late and many in default only to see the property sold, if at all, for less than the loan taken out. This makes a mockery of valuations and the reported LTV ratios given. In short you are suffering from issues with other P2P sites. If the valuations given are correct and LTV kept below 70% then again I say capital losses should be a rare thing. I do want to continue to invest with you and hope confidence can be returned to the P2P market soon.
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Post by Deleted on Oct 23, 2017 14:52:46 GMT
Hi littleoldlady and munchydave, The returns should be (and hopefully are on LLI's platform) higher for loans deemed more risky, which among other things include an assessment of the borrower's credit history, the realisable value of the property and other. All investments, including P2P loans, are risky in nature and there is always the possibility of a total capital loss. We are trying to balance this by including loans of various risk profiles and have a couple of loans in our pipeline that have lower risk rating than this loan (and already had a number of loans which have a lower risk rating than this one). Regards, Filip Hi Filip. I understand that capital is at risk, but this risk can be limited if the valuation of the secured property is a true and reasonable reflection of current market values. Defaults do not bother me if after a default the property can be sold and all investor losses recovered. Short of a general downturn in property values then I would expect capital losses to be a rare event. As far as I know no investor has lost money on LLI's platform but issues with other P2P sites I invest with concern me. I will not name them, but I am sure you know them as well as me. Numerous loans over 6 months late and many in default only to see the property sold, if at all, for less than the loan taken out. This makes a mockery of valuations and the reported LTV ratios given. In short you are suffering from issues with other P2P sites. If the valuations given are correct and LTV kept below 70% then again I say capital losses should be a rare thing. I do want to continue to invest with you and hope confidence can be returned to the P2P market soon. Hi munchydave, We are well aware of the issues that some investors are experiencing on other platforms, are following discussions on this forum closely (in addition to what we learn from being in the industry) and are doing our best to not repeat the same. Indeed, we have rejected a few loans originally financed on other platforms due to the questions about the validity of security values and other. However, unfortunately, regardless of how diligent we are with our assessment, capital loss will always remain a possibility due to both foreseen and unforeseen reasons. Preventing loss of capital is a priority for us, as we depend on our customers, and I thank you for your confidence. Regards, Filip
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Post by Deleted on Oct 23, 2017 16:11:16 GMT
Completion is expected tomorrow as well (subject to full funding). We are still awaiting the Certificate of Title which is required for us to be able to complete. We are being advised that it will come through this evening or first thing tomorrow morning. Regards, Fliip
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Monetus
Member of DD Central
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Post by Monetus on Oct 31, 2017 3:37:17 GMT
Completion is expected tomorrow as well (subject to full funding). We are still awaiting the Certificate of Title which is required for us to be able to complete. We are being advised that it will come through this evening or first thing tomorrow morning. Regards, Fliip Any update @filipkaradaghi?
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