hazellend
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Post by hazellend on Sept 24, 2018 15:54:33 GMT
Surely Lendy would use LW funds towards new tranches.
They get the interest from funds languishing on the SM.
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hazellend
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Post by hazellend on Sept 24, 2018 11:53:03 GMT
I’ve put my money into the current loan.
I’m not sure why it is shifting so slowly, the security seems ok to me. Maybe needs either cashback, higher rate or lower LTV as a show of confidence from the borrower
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hazellend
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Post by hazellend on Sept 24, 2018 8:03:01 GMT
company accounts/confirmation overdue just like our loan.yes a very experienced borrower we have here.i hope lendy have some good updates coming next week regarding this unsatisfactory situation. That’s normal
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hazellend
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Post by hazellend on Sept 24, 2018 8:02:02 GMT
On all of the loan list pages (Current Investments, Secondary Market, etc) the default is " Records per page: 10" and I have to change these to " Records per page: All" pretty much every time I log in (certainly every day I log in). If there are cookies, they are certainly not very sticky! Cannot the default simply be set to a more reasonable number than 10 per page? Personally, I would prefer that the default be "All", but at least set it to something sensible like 50. You fixed this same issue on the previous user interface but it flipped back to 10 when the new one was launched.Or, better still, add a user-defined view preference in Settings / My Profile. Bump #5 ablrateYes this is an annoying one. Most lenders will have more than 10 loans. Do we really need any option other than “all”
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hazellend
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Post by hazellend on Sept 22, 2018 23:17:45 GMT
Opening day....
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hazellend
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Lendy (L) in Administration
MONTHLY BS
Sept 22, 2018 11:36:04 GMT
via mobile
copacetic likes this
Post by hazellend on Sept 22, 2018 11:36:04 GMT
It appears the Herc***m borrower has taken to local media proclaiming the imploded development is down to LY unreasonably calling in the loan
I would put in a link to reports in Liverpool Mirror, but against rules
....Tickled LY into action on the PR front.
After all £23m of lenders and flat buyers money has disappeared somewhere and nowhere near that amount appears spent on the building.
Quick look at the borrower SPV accounts along with other SPVs in the group gives a pretty strong clue...
Just hope LY are not secretly impressed with the borrowers audacity and learn a few new tricks
These borrowers are laughable. Lendy were 100% correct to call time on this loan. Tip for borrowers, keep servicing interest and you won’t default, maybe even (shock, horror) use your own money to do this.
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hazellend
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Post by hazellend on Sept 22, 2018 9:02:35 GMT
Hi justme , Well I guess you can make the figures say what you want. My view is that if you compare defaults to a live loan book, you miss out a key figure, which is all the repaid loans. If you compare the remaining defaults with the total originated, remaining capital outstanding is 7.75% as things stand today. The slow loan origination this year has also made the defaults seem magnified as the live loan book as decreased slightly as performing loans have repaid. Also just to point out that what we call ‘non-performing’ are not even reportable on other platforms. Some platforms report non-performing after 45, 90 or 180 days. We report after 14 days. On this basis, you could say that £21.6m of the £28m live are performing. The FCA include some standard definitions of a ‘default’ in their recent consultation paper. For us this is great as it would reduce our default statistics. For other platforms, I expect their published default rate would increase dramatically. That’s the issue when there is no standard definition. We’ve taken a fairly hard line in or definitions, which is not so great for marketing purposes, but we think it is more useful to lenders. Would be interesting to know if anyone has a view on this. Kind regards Sophie I see the investors here in bigger troubles. Looking into the magic triangle so we have
- risk: seems to be much higher than 1 or 2 years before. Some investors have lost money after interests. LTV is a joke.
- return: I don't know if my returns will be positiv at all at the end. To much money in defaulted loans and the none-performing don't help. Nobody knows if they will perform
- liquidity: bad. Back in the day you could sell on 2nd market, take your money whenever you needed. Don't work now for the most loans.
I know that p2p investing is no daytrade and I know about the risks too. But from my point of view MT is no success story for investors now. I never would recomend it to my friends.
Don't missunderstand my, I like the company and appreciate your team. But the problems are serious now. Some 60% of my investments are defaulted or in loans I cannot sell at all. And looking at the storage loan i.e. is hard to understand what went wrong.
It is not hard to see at all. Most Moneything investors seem to illogically prefer an illiquid fixed secondary market rather than one that allows variable bids and offers. Moneything are just giving their investors what they want. ABLrate have set the gold standard for P2P loan secondary market. Some may not like it, but is still the best way to retain liquidity
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hazellend
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Post by hazellend on Sept 21, 2018 21:45:32 GMT
Quack!
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hazellend
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Post by hazellend on Sept 21, 2018 10:07:12 GMT
I bought PBL199 loan and felt comfortable enough holding the loan due to the low LTV.
Let's assume the borrower defaults and the security can only be sold for 50% of the estimated value. Is there not enough left to pay back capital and interest for many months ? Or does interest of the first charge loan rank behind capital repayment of the 2nd charge loan ?
Depends if the valuation is the usual massively wrong to the upside.
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hazellend
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Post by hazellend on Sept 19, 2018 17:00:51 GMT
I am very pleased with ABLrates management of this borrower. They make it seem quite straightforward compared to some other lenders
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hazellend
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Post by hazellend on Sept 17, 2018 5:57:31 GMT
Is there an offset situation here?
If the plumber was owed £10k and causes £10k of damage, is that a quid pro quo type situation, or can the plumber still be prosecuted for causing criminal damage?
It wouldn't be criminal damage, but a civil issue. Assuming that the plumbers supplied the materials, and haven't been paid then they would be entitled to remove the materials they have put on the site as they still own them. They haven't damaged anything belonging to anyone else. The damage has been caused by someone else turning on the water supply, assuming the plumbing was in working order. Reckless maybe, but not criminal damage, IMO. Err the plumbers drilled holes in the pipes so they weren’t in working order
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hazellend
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Post by hazellend on Sept 16, 2018 22:13:22 GMT
REITs are definitely not a bond proxy.
Bonds are required to smooth the rollercoaster ride of equities, depending on personal risk tolerance.
I don’t have any bonds as I have a public sector pension which I can start drawing down in 16 years.
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hazellend
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Post by hazellend on Sept 16, 2018 19:23:20 GMT
Is this the one refinancing to moneything ?
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hazellend
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Post by hazellend on Sept 16, 2018 14:33:31 GMT
This shows the type of we are dealing with in general in P2P. Does it? The plumbers that were contracted have no relationship with P2P, unless you know different? I'm pretty sure that they were oblivious to the method of finance, and would have done the same to the pipework whoever hadn't paid them. I find the behaviour disturbing. I know they were angry but it demonstrates a general element of poor morals in tradesmen.
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hazellend
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Post by hazellend on Sept 14, 2018 8:04:00 GMT
There is no residential BTL REIT that I’m aware of. There was one that listed on the stock market but wound down quite quickly. I think PP have considered going down the REIT rpure. PM have basically forced their investors into a very ugly, unlisted REIT I know what you mean and completely agree, however (just teasing) your first and last sentences contradict each other. Heh but it’s not happened yet
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