jimbob
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Post by jimbob on Sept 23, 2016 21:35:23 GMT
Where are you putting the start line in the race to the exit? The first anniversary of the money being deposited and lent out? Or the first anniversary of the bonuses being paid, nearly a month later? The bonus played a part in my initial decision to try LC but I have no plans to exit. On the contrary I expect to invest a little more over the next year. I think my decision on that will be based on how S******* and A********** are handled (The two non-lost defaults)
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jimbob
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Ablrate (ABL) in Administration
ATR 532
Sept 23, 2016 14:39:01 GMT
huxs likes this
Post by jimbob on Sept 23, 2016 14:39:01 GMT
There seems to be a deposit down now at any rate, tbh delays would be good at this point with the penalty interest and increasing security.
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jimbob
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Post by jimbob on Sept 21, 2016 15:17:15 GMT
I may be in the minority, but I preferred the look of tranche A, anyway. Must be getting more cautious in my old age Heh me too, There is this bit in the notes too (Should the worst happen) The full order of repayments, after recovery costs (LPA receiver fees etc.) have been paid, is: 1) tranche A capital 2) tranche B capital 3) Broadoak first loss investment capital 4) tranche A accrued interest 5) tranche B accrued interest 6) Broadoak first loss investment accrued interest What interest rate will investors receive if the loan defaults? Investors in tranche A and tranche B will receive the same interest rate if the loan goes into default: 1.5% per month.
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jimbob
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Likes: 74
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Post by jimbob on Sept 21, 2016 15:07:37 GMT
Going down really fast as expected! Be surprised if B goes for longer than 5 mins ! Given the obviously heavy load on the site, only minimal drag loading and bidding <EDIT> 16:05:49 and B is done ! Yep B done - Must admit I am entirely in A..
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jimbob
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Posts: 317
Likes: 74
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Post by jimbob on Sept 21, 2016 14:59:38 GMT
Almost 4...
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jimbob
Member of DD Central
Posts: 317
Likes: 74
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Post by jimbob on Sept 21, 2016 8:49:07 GMT
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jimbob
Member of DD Central
Posts: 317
Likes: 74
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Post by jimbob on Sept 20, 2016 16:29:32 GMT
G * F should head into the "bad debt" for TY 2015/6,
A B R won't as there was a payment in TY 2016/7
S************* could still do so... (Though I hope not)
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jimbob
Member of DD Central
Posts: 317
Likes: 74
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Post by jimbob on Sept 20, 2016 16:12:16 GMT
Seeing as the last repayment was before Tax year end 2016 - shouldn't this go down as a bad debt on the FY 16 tax return ? Good to see the bonuses stripped out of their paperwork, mind..........
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jimbob
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Post by jimbob on Sept 13, 2016 8:55:51 GMT
Coming up for the first anniversary, <SNIP> Be interesting to see who flees with their cash bonus once the 12 month lock in expires. I suspect many will want to make the attempt ............ I might just be one of them. Trouble is, it's going to need buyers to oil the process - If a lot try to scarper, who'll be buying ? - have you tried flogging anything on the SM ? SSSSSLLLLLOOOOOOWWWWWWWWWWW doesn't do it justice - I've had some parts (to diversify a bit from the initial 'get me a bonus' investments) on there for months...... More likely a trickle than a flood. Well the loans are all amortising so we should be out... eventually...
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jimbob
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Post by jimbob on Sept 9, 2016 9:03:28 GMT
Yes, on balance I think I will stay in the 14% loan. There is £3k available at par, rounded my holding up to a stout 3 figures from the available pool
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jimbob
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Post by jimbob on Sept 7, 2016 16:40:52 GMT
WTH happened there? I put up my small holding half an hour ago, more for a laugh than anything... and it's gone! Someone just took over £50k ? The loan monster is hungry.
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jimbob
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Post by jimbob on Sept 6, 2016 14:33:36 GMT
I was not going to mention the numbers and terms but am also pleasantly surprised that it will apply to the first extension. I last sold some on 1st June and am wondering if I will have the uprated interest for 2 days from 29th May or whether that will go to the lucky purchasers (not too bothered about approx. 50p). I don't care how long it takes to sell the plane at the new rate as long as I can trade it if I need to (if extended further). I am not sure that Ablrate fully appreciate how important liquidity is to many lenders - FC are taking a real beating on their own forum for locking people into late property loans, the worst I think now 146 days. We don't want that here. If liquidity is important to an investor then p2p is not the correct asset for them. Even with a secondary market there is no guarantee of liquidity No guarantee, but there is the OPPORTUNITY. I had queued on SS to sell fields and large houses accepting that a sale may take a while. Others evidently thought these excellent investments and purchased off myself. If something is taking a while to shift, that is not the market's fault so to speak but a function thereof. Even illiquid secondary markets have a value.
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jimbob
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Posts: 317
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Post by jimbob on Sept 2, 2016 21:17:08 GMT
What do we think of this one guys? I quite like it .... At £4.8 million is it the biggest individual loan SS have undertaken ? Cant believe that Coolly Diligent hasn't been all over it yet ...... maybe doing his day job I don't post the DD threads until the loan is definitely going live (I.e. when they get a PBL/ DFL number). Check your PMs Any chance to get this "secret pm" ?
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jimbob
Member of DD Central
Posts: 317
Likes: 74
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FundingSecure (FS) in Administration
New Loans (FS)
Sept 2, 2016 10:13:11 GMT
Post by jimbob on Sept 2, 2016 10:13:11 GMT
Did that emerald stone renewal actually become available?? It was showing as fully funded mere seconds after 11:00. I am certainly NOT adding more funds to FS until there becomes a realistic way to invest in the non-property loans. ☹️ Yes it did and I missed out. I was on the page and am annoyed too. I suggested that the limit should be ~ £10 for such low value items.
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jimbob
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Posts: 317
Likes: 74
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Post by jimbob on Sept 1, 2016 12:37:01 GMT
Alot of these updates seem to be "Buyer chatting to Peter about getting cash to pay Paul "
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