ben
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Post by ben on May 11, 2016 15:15:59 GMT
at the moment not fully funded, the SS loan that repaid today might help. I think at the moment MT do not need the funds for much so probably quite happy to keep it there earning 10% extra on top although I would think if it does not go soon they will have to pay cashback to clear it so the extra interest will help towards that
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ben
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Lendy (L) in Administration
PBL59
May 11, 2016 14:58:02 GMT
Post by ben on May 11, 2016 14:58:02 GMT
I would guess the borrower decided to pay more of then was initially intending ie the full first loan rather then just part of it, i think the way SS did it as it was an extension rather then new loan was probably paying same interest rate
Yes the loan can go bad still but unlikely as they have just payed 3 million back so in there interest to keep paying and the security should be pretty good now considering it was 70% agaisnt both loans
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ben
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Post by ben on May 11, 2016 13:43:22 GMT
I do not even think that would persuade me to buy into Hull I guess they'll just have to struggle along without you then. They do, after all, only need about £5m. 8>. I sure plenty of others will go for it and now would be a great time for them I can see the documents magically arriving and the notice going out today about 3 million hanging around looking for new home will dent it nicely might even make a dent into the loan on MT that hasnt filled yet
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ben
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Post by ben on May 11, 2016 13:33:22 GMT
Yep, might even persuade some reluctant folks to buy into Hull, if there is no other option. 8>. I do not even think that would persuade me to buy into Hull
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ben
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Lendy (L) in Administration
PBL59
May 11, 2016 13:31:07 GMT
Post by ben on May 11, 2016 13:31:07 GMT
This one was my largest on SS to I was pretty confident about it when was launced and when the 2nd charge came out increased my holding signifianctly so like others now have a large amout waiting for a new home, althogh I did have some of 72 not very much this was mainly through the orginal prefunding this looks pretty good though now with minimual risk on holding it
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ben
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Post by ben on May 11, 2016 13:26:15 GMT
be a good time for them to release one as one just payed back
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ben
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Post by ben on May 11, 2016 13:21:22 GMT
We all know payment is done manually so why do people actually care if it is a day or two late?
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ben
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Post by ben on May 10, 2016 9:41:36 GMT
When I started at PP earlier this year, there were hardly any discounts to be found on the secondary market. The few that would come up (3-4%) would get snapped up immediately. But the scenario seems to have changed completely over the past 2 months. We are seeing consistently steep discounts (> 8%) on many properties. Any idea why that's the case? - Has PP brought too many properties to the market (relative to their investor base)? - Are investors fleeing the platform? - Are people expecting a market correction? - Something else? Thanks I think the first option may be part of it aslo a lot of people buy the property when it is brought at a discount (ie 15% below or whatever it is) and when the property is revalued a few months later at current value try to sell, so it might show a discount on current value but it is still more then they payed for it. Although why you would buy once the property has been revalued I have no idea as with the cost of investing that would pretty much wipe out any profits you may make in the first year and although the property may increase over the next few years doubtful it will increase 10% a year
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ben
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Assetz Capital (AC)
GBBA
May 10, 2016 9:14:37 GMT
Post by ben on May 10, 2016 9:14:37 GMT
Well my 'conclusion' is that there is something about the GBBA buying policy that I currently don't understand My wife's account made a couple of purchases yesterday £42 & £0.24 .... so the account is not 'stuck'. But my MLIA accounts continued to buy #223, 245 and 255 all of which were bought originally by my wife's GBBA (so they are eligible) none have credit events shown so there is no reason that they are no longer eligible (based on my understanding). The only logical (very dangerous word!) answer is that the GBBA overall holds enough of these loans so it will not buy more in spite of availability and individual GBBA accounts holding 'cash' and not approaching their individual 20% limit. I would hope the GBBA has a limit for each loan otherwise people will simply just play the system buy a loan manually then sell it on a few months later knowing the GBBA will buy it
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ben
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Post by ben on May 9, 2016 17:51:08 GMT
This is still not marked in my account as in default despite being 3 months behind? Any justification for this? The terms of the site says will be defaulted after 30 days? ? Currently can't submit my tax return until they sort the tax on the sign up bonus problem. Be nice if they could include this as the bad debt it is! Overall wish I never touched this site. Look up the directors previous company cxxxx, says all you need to know quite glad I did not bother with the summer promotion either does not seem to many people on here with much good to say about LC
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ben
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Post by ben on May 9, 2016 16:02:52 GMT
I just used collateral easy enough for me check if I have any issues
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ben
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Post by ben on May 9, 2016 13:25:47 GMT
Hmm, I just tried to transfer some cash in to dip my toe in the water. 1) Card payments are only "Available Soon". 2) "Collateral Client Account" is too long a name for Santander, can I truncate it? 3) I haven't the faintest idea what the Swift code for Santander might be - do you need it for UK based accounts? If at least one of these issues is addressed, I might manage to make a deposit and start lending .... Dermot 2) You can call it whatever you like that is for your records so you know who you have paid 3) You only need sort code and account number
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ben
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Post by ben on May 9, 2016 11:53:09 GMT
collateral you might want to have a look at my account you sums are pretty impressive even my son did better adding it up, he got it exactly right you are about £800 out and I only put £50 in to give it a go and have a look at
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ben
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Post by ben on May 9, 2016 11:24:45 GMT
They are only as good as the platform, if the platform goes under then the buy back goes, if the platform survives it is in there interest to buy it bac. I doubt any shareholders in case of platform failure will put the buy back above themselfs.
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ben
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Post by ben on May 9, 2016 10:16:41 GMT
This almost seems too good to be true... Large loan base, OK to good rates, buy back guarantee... What am I missing? Buy back guarantee is only as good as the company is there so although is good not 100% guarenteed, funding empire do something similar again only as good as company there but I think in there case it is the partner that buys it back rather then them.
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