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Post by ablrate on Mar 20, 2019 16:56:06 GMT
ablrate , the survey is like “how long is a piece of string” unless there is some indication I’ve missed of the indicative rates. “Reduced rate” could mean 14% or 6%, and my response would be a quite different! It wont be 6% Steve... we are just trying to get an indicative interest at this stage... but it is fair to say that at a first charge it would probably be 11/12
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Post by df on Mar 20, 2019 17:18:58 GMT
An interesting survey has just been posted. It'd be interesting to hear the opinions of others. The choices seem rather binary: Exit by refinance, exit by refinance byt provide further funds on second charge basis, or extend on a first charge basis with a lower interest rate but an additional 1.3 m of finance required. Personally I'd be happy to maintain a small investment in the project at a slightly lower interest rate (but would want to know how much the developer is putting in) but I'm not sure if there is an appetite for the level of additional funding the project would need. IMO refinance out is a better option. I really doubt it will be easy to raise 1.3m.
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Post by Ace on Mar 20, 2019 17:55:03 GMT
ablrate , the survey is like “how long is a piece of string” unless there is some indication I’ve missed of the indicative rates. “Reduced rate” could mean 14% or 6%, and my response would be a quite different! It wont be 6% Steve... we are just trying to get an indicative interest at this stage... but it is fair to say that at a first charge it would probably be 11/12 I'm in for 11/12, assuming that isn't a fraction😉
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Post by GSV3MIaC on Mar 20, 2019 18:02:06 GMT
Yes, I'd consider that (12%) reasonable.
ablrate, when I'm asked to fill in a survey, you could at least populate it with the stuff you already know, and leave out stuff you don't need yet. Asking for my name, then email, and then customer number (not something I carry around in my head), when all you want is an indicative ball park, seems like massive overkill to me .. didn't you need my inside leg measurement too?!
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Post by ablrate on Mar 20, 2019 18:15:56 GMT
Yes, I'd consider that (12%) reasonable.
ablrate , when I'm asked to fill in a survey, you could at least populate it with the stuff you already know, and leave out stuff you don't need yet. Asking for my name, then email, and then customer number (not something I carry around in my head), when all you want is an indicative ball park, seems like massive overkill to me .. didn't you need my inside leg measurement too?! Its on a separate internal system that manages smart lists..and will allow us to more easily communicate with those who respond
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Post by df on Mar 20, 2019 18:58:14 GMT
Yes, I'd consider that (12%) reasonable.
ablrate , when I'm asked to fill in a survey, you could at least populate it with the stuff you already know, and leave out stuff you don't need yet. Asking for my name, then email, and then customer number (not something I carry around in my head), when all you want is an indicative ball park, seems like massive overkill to me .. didn't you need my inside leg measurement too?! This is out off topic, but I could never understand why for each credit card deposit Abl is asking for postal address, e-mail address, phone number etc... No other platform asks for these things.
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ptr120
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Post by ptr120 on Mar 20, 2019 18:59:15 GMT
It'd have to be a compelling opportunity to hold any interest for me at 11%.
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gareot
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Post by gareot on Mar 20, 2019 19:29:54 GMT
Would there be a guarantee that there wouldn't be any charges against us if things didn't go according to plan as happened on a certain London loan on another platform ?
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blender
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Post by blender on Mar 20, 2019 19:51:11 GMT
Would there be a guarantee that there wouldn't be any charges against us if things didn't go according to plan as happened on a certain London loan on another platform ? Ablrate would not be so incompetent as to contract to supply funds which cannot be raised.
It's good that these options are being explored, imo.
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Post by brummiefred on Mar 20, 2019 19:57:23 GMT
ptr120 The Borrower has spent the last 4 months on site continuing to work on phase 1 and has now invested £1.2m into the recent development of the site. Updates are provided on their recently launched website.
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Post by df on Mar 20, 2019 20:00:18 GMT
Would there be a guarantee that there wouldn't be any charges against us if things didn't go according to plan as happened on a certain London loan on another platform ? There is never a guarantee, but in my observation Abl is far more vigilant than the other platform you have in mind.
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Post by Ace on Mar 20, 2019 20:11:48 GMT
ablrate , the survey asks us to indicate if we would be interested in lending "further" funds. To be clear, does this mean "additional" funds to that which we currently have invested, or "total" funds. I.E. If one currently has £1k invested in each of 80 and 98, and is prepared to lend an additional £1k, would you want them to enter £3k or £1k?
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ptr120
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Post by ptr120 on Mar 20, 2019 20:18:54 GMT
ptr120 The Borrower has spent the last 4 months on site continuing to work on phase 1 and has now invested £1.2m into the recent development of the site. Updates are provided on their recently launched website This is noted but how much will they be putting in going forward?
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KoR_Wraith
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Post by KoR_Wraith on Mar 20, 2019 20:22:48 GMT
I didn't lend on these loans when they were initially offered due to DFL mishaps at Lendy, however, it seems the risk has substantially reduced and I'd now be interested at 12%.
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Post by Badly Drawn Stickman on Mar 20, 2019 20:33:18 GMT
I doubt it would stand or fall on my investment, whilst at the moment I consider it a good loan refinancing at the current value is a totally different proposition. I would have little or no interest at 12%
13/14% seems more realistic for the next phase.
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