ben
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Post by ben on Oct 20, 2017 17:48:31 GMT
What you mean is one person said it? who would think it is a better idea to log into the website and trawl through every loan they are in for an update rather then just read the weekly update and ignore the ones they are not in or not interested in.
Also I doubt very much your investors would want that, the members that are not on this board that would be pretty much there only contact with you and the type of investors they are would be very happy to a summary of all the loans.
So how many people emailed asking for this?
How about then sending out an weekly email for all loans that people can subscribe to then if they want.
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ben
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Post by ben on Oct 19, 2017 13:42:48 GMT
Taking everything into account, I would be quite happy doubling my current investment pledge but I am going to wait until the loan fills up some more before transferring money due to the cash drag issue. I assume there is no investor deadline for this one? Last time they got underwriters in as it did not fill up, although this time it has filled up quicker then it did last time round.
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ben
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Post by ben on Oct 19, 2017 11:59:13 GMT
Thanks for your reply stub8535, agree with all your comments and had already considered the repayment spike. Not sure that you have convinced me that this personal guarantee has any more value than any other though, as it is a separate issue to the holding of the collateral, which is where the security lies irrespective. I have increased my investment in this loan a little as a result of the responses here, thank you all, but still remain relatively cautious about overdoing it in a single loan. Good luck to all investors and borrowers alike :-) Personally I usually ignore personal guarantees as they are pretty easy to get out of. I am not taking the personal guarantee into account on this investment either but with this kind of business reputation is everything. Unlike the building trade where people will happily carry on trading with the morally corrupt. So I think in this case the reputation is worth something to the borrower and if he is able to he will want to repay the loan. This is not an area that many people on here will probably know but we do know the assets have value to the borrower as he has previously repaid an similar loan. So we know he is not going to be laughing all the way to the bank like plenty of other borrowers do. The valuations are from a reputable company too.
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ben
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LandlordInvest
KINGS ROAD
Oct 19, 2017 11:49:31 GMT
Post by ben on Oct 19, 2017 11:49:31 GMT
So what has been the hold up on this loan?
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ben
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Ablrate (ABL) in Administration
1000050
Oct 18, 2017 18:07:29 GMT
Post by ben on Oct 18, 2017 18:07:29 GMT
Was surprised there was no mention in the email about the new loan as they managed to put information about other loans coming soon.
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ben
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Post by ben on Oct 17, 2017 22:52:49 GMT
I will give you one guess. But not to worry they will use the excuse that they had to act quickly to secure it at that super low price, as the original owners pet cat had just died so they had to off load it in a hurry and the security is worth the valuation honest. I have never reached out to FS directly. What's the likelihood of them disclosing the purchase price? Surely it's a reasonable request? There has been several loans where they have released that information and guess what they all were close to the valuation. So it depends what the purchase price was if it was close to the valuation then they will do if the loan struggles to fill, if it is nowhere near they will not.
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ben
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Post by ben on Oct 17, 2017 22:18:49 GMT
Yes, WE will find out, but The Lemmings and The Lazy won't, so most Platforms don't give a toss, because funds are are still satisfactorily filling their loans without us Old Guard contributing. Very aware Regular Readers know all this, my posting is for the benefit of Newbies who hopefully are wising up. Fast. The number of readers here is 90% of the number of registered lenders on MT, so likely all or nearly all active MT users are here. AIUI MT relied largely on this forum to recruit new lenders. If MT are ignoring us and relying on others they are making a big mistake. (I don't actually think they are, I believe that they are just out of their depth.) I do not think MT are actually out of there depth at least not yet, they got a bit surprised with the amount of negativity around a few loans that did not go 100% as planned and maybe have taken it a bit personally. They have also been surprised over how a few rumours can get people selling out of loans and running for the hills, when previously activity on the secondary has mainly been due to new loans being launched. MT are one of the few sites that appear to know there limits. Yes they are not perfect but when information has been shown to them they have acted on it. I have much more faith in MT then I do in a lot of the other sites.
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ben
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Post by ben on Oct 17, 2017 22:07:56 GMT
Just hope they and FE hurry back soon we can do with a few decent sites, fast running out of them.
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ben
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Post by ben on Oct 17, 2017 22:06:59 GMT
I do wonder why purchase prices are rarely disclosed in these situations ... I will give you one guess. But not to worry they will use the excuse that they had to act quickly to secure it at that super low price, as the original owners pet cat had just died so they had to off load it in a hurry and the security is worth the valuation honest.
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ben
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Post by ben on Oct 17, 2017 13:01:52 GMT
Morning. Site was purchased for £2m. Regards, Ed. So, not true then. In fact, almost 100% not true. What the supposed value is today is irrelevant, what you have stated is nowhere near accurate and a misrepresentation of the facts. Congratulations, you have finally reached the same level as Lendy ( or should one say sunk?). Ouch that is just mean and a bit unfair. I will be more charitable and think he meant 2 million had been spent to this point when that post was made rather then just the purchase price.
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ben
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Post by ben on Oct 16, 2017 22:12:17 GMT
I'm limiting myself to around 2% of my total Unb holding for individual loans of this type. What do you think? Am I being too cautious? Everybody has different investment limits, but I look at it as the asset type rather then the site. When the loan was previous up I had only just joined and had about 70% of my holding on Unbolted in that one loan for quite a while due to the auto investment being relatively slow. Although this time round I will only hopefully have about 10% of my investment in Unbolted in it.
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ben
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Post by ben on Oct 16, 2017 14:29:05 GMT
Just have to hope enough left tommorow, after bank transfer goes through, repaid nicely last time.
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ben
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Post by ben on Oct 9, 2017 14:14:22 GMT
Good to see somebody using a bit of common sense, if only a few other sites only used surveyors that they could trust then most of the issues that p2p has would not be around at the moment.
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ben
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Post by ben on Oct 8, 2017 16:51:37 GMT
If people want to set up another forum them surely that is up to them. Good luck to them. With regards to DD I can only see that being a good thing the only probably it will have is that it will not be able to discuss this with platform reps.
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ben
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Post by ben on Oct 7, 2017 18:04:22 GMT
I doubt the repayments will make much difference to the secondary market, investors will already hold what they want of the loans and the better loans will get snapped up as soon as someone tries to sell them. Still do not understand why the secondary market is a busy as is it, plenty of loans I would not invest in when they were released yet people are buying them up 4 months on so potentially only getting 2 months interests, so the risk is even higher.
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