grahamg
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Post by grahamg on Sept 22, 2015 18:00:46 GMT
What's the best way to pre fund.
Pre fund everything on the basis that the SM is very liquid or fuss over individual loans?
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grahamg
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Post by grahamg on Sept 22, 2015 17:51:00 GMT
Hi
Is there any way to get the forum threads sorted in reverse order (Latest date first)
This happens on other technical forums and seem much more logical . Mostly you don't want to troll through the older stuff on a thread
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grahamg
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Post by grahamg on Sept 22, 2015 17:29:38 GMT
The Real Value of Floating Charge / Debentures
I have started investing with LC but am concerned about the reliance on Floating charges for Assets . In a liquidation floating charges are well down the list and given that most assets have very low values when sold off its a concern.
Directors guarantees also have limited value as there is no control over disposal of underlying assets backing it. (Same opinion for FC loans apart from property).
Do Lending Crowd value the assets as under liquidation conditions ?
1. FIXED CHARGE HOLDERS
As far as liquidators are concerned, their primary concern is to satisfy the outstanding debt owed to creditors with a security interest over ‘charged’ property. There is however a problem of what is to happen when more than one creditor has security in the same asset. The Companies Act 2006 stipulates that the security that is registered first will have priority.
There are important distinctions between different types of securities. In terms of liquidation, and which creditors will be paid first, a fixed charge holder i.e. a holder of a security in a particular asset of a business will ‘rank’ ahead of a holder of a floating charge i.e. a charge that has yet to ‘attach’ to business assets. There is an exception to this rule, and that is where a floating charge was created that explicitly prevents the creation of any later fixed charges and the holder(s) of a fixed charge had notice of its creation – there is normally a clause within the documentation for the ‘floating charge’ that makes such a condition very clear.
2. LIQUIDATION COSTS
The next concern for the liquidator, after having satisfied the fixed charge holders will be to account for the cost of liquidating the company. These costs are normally accounted for from the assets of the company that would be used to pay general creditors – those that do not hold security over company assets.
3. PREFERENTIAL CREDITORS
When a liquidator has satisfied the costs of pursuing the liquidation, they will then turn to deal with the so called ‘preferential debts’. The debts that this refers to, have been changed after some reforms in this area of the law. The current preferential debts that will need to be discharged are;
• Employee wages to the maximum sum of £800, earned in the four months prior to the resolution to ‘wind up’ the company; and
• Money lent to the company e.g. from a bank to pay employee wages.
4. CREDITORS WITH FLOATING CHARGES
A liquidator will then turn to deal with those creditors that hold floating charges over company assets. This is an area of the law that has undergone a great deal of reform. The law requires that a liquidator set aside a portion of the company’s assets, called the ‘Prescribed Part’ to pay for ‘unsecured’ debt. Floating charge holders will be paid from company assets, in so far as they can be, from monies that do not make up the ‘Prescribed Part’.
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grahamg
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Lendy (L) in Administration
PBL58 Torquay
Sept 22, 2015 13:53:18 GMT
Post by grahamg on Sept 22, 2015 13:53:18 GMT
1st post, and I've decided to dip my toes into p2p investing with 50 in this investment and 50 in the Scottish land ! Does that sound sensible ? Will make more investments as I see the interest start to return Don't know where you are at with lending overall. If new then you need to diversify to 100+ loans to spread risk, that what FC taught us. It was easy with FC but with FC changes and rates down you will need to do this across multiple platforms and it will take time. Personally am sticking mostly to asset backed loans across FC,LC,Rebs,SS, AC and maybe AR. I don't trust Directors guarantees, not worth paper written on. Look out for slippery, slimy borrowers.
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grahamg
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Post by grahamg on Sept 21, 2015 21:48:05 GMT
Two new stage 4 loans in pipeline! No documents yet. Portfolio of 24 apartments, Wolverhampton £3,500,000 £2,450,000 70% 4 Commercial Residential conversion, Wolverhampton £2,500,000 £1,500,000 60% 4 Still no documents 10 days later, not good maybes ss can comment. How are we supposed to make invest decisions? how can these loans be at the same stage as those with docs?
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grahamg
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Post by grahamg on Sept 21, 2015 17:22:24 GMT
Thanks had not spotted what the green highlight was for
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grahamg
Member of DD Central
Posts: 220
Likes: 62
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Post by grahamg on Sept 21, 2015 17:06:32 GMT
Are the negative availabilities real or just a quirk of the website, as can't see any way to place buy requests
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grahamg
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Post by grahamg on Sept 21, 2015 15:27:32 GMT
Well is set QAA to invest idle funds but nothing happend , no change , nothing sucked from MLIA.
Does anyone know if there is some time delay involved?
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grahamg
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Post by grahamg on Sept 11, 2015 18:57:20 GMT
Hi does anyone understand how the loan exchange rates works.
Firstly i seem to be able to enter any value i want and it offers me a rate so clearly i am not purchasing real residual loan parts from other people
So what am i buying.
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grahamg
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Post by grahamg on Sept 10, 2015 17:32:14 GMT
Lending crowd are new (less than one year old) but lovely people to deal with and keen as mustard to grow. On which point, I had noted their £100 incentive for investing £1000. Tempting - that's 10% straight off! I don't see that on their site do you have a link ?
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grahamg
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Post by grahamg on Sept 9, 2015 18:33:39 GMT
On the jumping ship theme i don't see a big rush. With FC there is four/five years of loan book (over 12000 loans) to pick over on the SM as others jump ship, hopefully at discounts. Thats if you are holding rather than flipping.
So slow run down.
Also having diversified on FC no need to do the same on other individual platforms. Just need to keep a diversified holding over all active platforms
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grahamg
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Post by grahamg on Sept 9, 2015 17:09:28 GMT
You are old enough to remember FORTRAN ? How about Commercial Fortran ? High level stuff eh? I remember that new fangled stuff coming in to replace autocode, nothing like as efficient of course. Oh yes high level stuff, punched cards paper tape and computers with maybe 32 Kilo bytes of memory
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grahamg
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Funding Circle (FC)
15561
Sept 9, 2015 16:05:52 GMT
Post by grahamg on Sept 9, 2015 16:05:52 GMT
Anyone have any ideas why this property development loan is an A rather than an A+? Actually try working out why 15606 is an A+ having looked at accounts.
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grahamg
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Post by grahamg on Sept 9, 2015 16:03:06 GMT
It used to be, but some folks had a faint hope Fortran Computing might by now have discovered the SORT facility in some modern programming languages. 8>. You are old enough to remember FORTRAN ? How about Commercial Fortran ?
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grahamg
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Post by grahamg on Sept 9, 2015 15:55:05 GMT
15616E just opened - £78k It really annoys me when they don't even bother saying why they want the money. (or did I miss something?)
It is annoying because it looks a nice company, why an E rating i don't understand
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