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Post by gusgorilla on Mar 21, 2016 0:31:12 GMT
Failing to buy PBL088, which has plenty available, with the same symptoms. It looks like a software problem to me.
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Post by gusgorilla on Mar 17, 2016 23:27:23 GMT
I just made a withdrawal and it took less than 24 hours to arrive in my Halifax account.
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Post by gusgorilla on Mar 15, 2016 2:13:04 GMT
lol, celebrating loan demand instead of actual business. Also celebrating the fact that their lenders appear to have only lent to a third of the loans Bondora approved. I wonder what happened to the other two thirds.
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Post by gusgorilla on Mar 15, 2016 1:59:21 GMT
MoneyThing please help. I cannot find any record of the outcomes of past loans, payment status of current loans or loan statistics for amounts lost during recoveries from assets. I may just be looking in the wrong places. I would have liked to see a column on the completed loans page showing whether a loan was repaid, is in the process of being recovered, was fully recovered or suffered a loss (and how much loss) for example. FS has a list of all current and past loans with a couple of columns with this kind of information. It is interesting to go back and look at the full details of lossy loans to see if there are any clues that one could have noticed. FS also has a statistics page showing aggregate data on defaults, recoveries and losses. I'm dissapointed not to have found this on MT, although I can see that the portfolios might confuse matters. Is it staring me in the face somewhere and I just can't see it?
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Post by gusgorilla on Mar 14, 2016 23:57:28 GMT
Wow. Those really are far out. I doubt a few drops of oil and a bit of calibration will ever fix those. It makes me wonder what has gone on there. The initial wind measurement surveys must have been done totally wrong. Either that or management were engaged in "positive thinking". I hope no projects like that ever turn up on Abundance.
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Post by gusgorilla on Mar 14, 2016 23:36:59 GMT
shimself, could you tell me what form that inflation protection took? Do you know a way of me getting a look at any of the offerings that offered that protection or can you remember any names of projects. I would be tempted to bid for some loan parts on the secondary market if I could identify projects with inflation protection. Is it simply a matter of looking for projects whose type is variable return rather than fixed return? I don't really understand how the fixed rate projects work. abundance, would it be more accurate to describe fixed rate projects as capped rate? What happens to any excess over the stated "fixed" rate and conversely what happens when there is a shortfall?
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Post by gusgorilla on Mar 14, 2016 2:56:32 GMT
You can look on their /statistics/ page but it looks like you have to be logged in. Strangely the only way to get to it is by crawling through the FAQ questions. There is one that's something "what are your default rates?" whose answer contains the link. Amazing how little usability testing or even basic common sense is used on many of these websites. lendinvest are really shooting themselves in the foot hiding their stats because their record appears to be very good. It looks like they have never had a default. I guess this hints at the answer to your other question about why the return is so low; it looks like they only take on very low risk borrowers, although there is nothing I could see in the FAQ to suggest that they do anything other than the standard screening or that they are particularly stringent. Some of the loans are bridging loans too, which pay much more elsewhere. Hm. lendinvest, why are your rates to lenders so low compared to other platforms also doing commercial property secured loans? What do you do that they do not?
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Post by gusgorilla on Mar 11, 2016 0:37:01 GMT
A statement in my earlier post was in error. Because repayments are both capital and interest, and also because early repayments are allowed, it it is possible for the loan book to shrink quite quickly, therefore the panic scenario, because of a flawed liquidity model relying on indefinite growth, would not occur. Thanks to Landbay's John Goodall for pointing out my error and explaining one or two other things that were puzzling me. Hopefully he found my feedback useful too. His open and non-defensive attitude to my criticisms also increased my confidence in this platform. I will be increasing my lending here in a few months. I hope this attitude will carry through to greater transparency on the website as it develops e.g. being able to see loan parts, payments, defaults, provision fund etc. This engagement increased my trust, rather than destroying as it did with the utterly dire eMoneyUnion platform. There seems to be a divide between those platforms that struggle hard to honestly address and bottom out difficult questions, using criticism to improve their offerings, and those platforms that evade, obfuscate or even refuse to come on here and answer questions at all, such as eMoneyUnion.
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Post by gusgorilla on Mar 3, 2016 23:28:20 GMT
We agree that our debt profile is well suited as a long term income product aimed at retirees. This is something that we anticipate rolling out later this year (post launch of our new Property-Secured ISA). It would be great to get your thoughts on product design (we will reach out to you direct on this). Yes please do. Message me and I will give you my email address.
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Post by gusgorilla on Mar 3, 2016 1:43:14 GMT
Hi Landbay Can I suggest that you change the site to obtain consent to tie up people's money for 10 years (in the worst case) before you allow people to invest. This 10 years seems to apply to both the "3 year" and tracker products as far as I can see. I can fully understand why you might not want to do this given how the products are currently marketed, but in circumstances where you are no longer growing you might find yourselves in deep water if you do not. Not meaning to be harsh but it seems unstable to have a liquidity model that relies on the amount of lender money coming in always being more than the amount wanting out i.e. consistent net growth forever. As soon as there is a period where this is not the case and lenders realise, in my view there is likely to be a panic as everybody tries to get their money out at once and fails. I cannot see how you could ever recover from the consequent bad publicity, legal and regulatory problems. IMO you should deal with this hole in your roof while the sun is still shining. There are a lot of people with a lot of money who want to take advantage of the new pension freedoms and are desperate to put their capital somewhere low risk where it will provide a regular long term income. It seems to me your products are a natural fit for them (us - I am one of these people). Your yields are sufficient and liquidity is not so much of an issue for this demographic. At the moment you seem to be trying to force a square peg into a round hole by targeting the bank saving account market whose requirements you cannot, ultimately, satisfy. Why not try competing with annuities, income funds etcetera instead? Saga magazine has pension investment advice as do a number of other publications aimed at my age group, not to mention social media, websites and forums. A new "retirement income" product with its own marketing campaign might save the day. I hope you find this constructive. Your underlying business model looks very sound. Message me if you would like to chat at greater length.
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Post by gusgorilla on Mar 1, 2016 2:04:51 GMT
Several turbines on AC are miles below forecast, achieving worse than 50% How can this be (how can it be so wrong)? Will they ever recover? Could you give us more details please shimself? For example addresses of web pages to look at.
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Post by gusgorilla on Feb 24, 2016 2:09:14 GMT
Landbay is trying to be open on its main website by providing a link in the page footer to a statistics page. This is great, although that page raises some questions I will probably ask later once I have them straight in my head. However, I am perhaps missing the obvious, but I am very concerned that the app (logged In) part of the website does not appear to show me what has happened to the money I have deposited. It seems to have been invested in loans for me but I cannot see what those loans are, where the properties are, the LVTs, what kind of properties they are (residential or commercial), how long the loans are for, what the capital and interest repayments are, whether they are being paid on time, whether the interest rate is fixed or variable, credit ratings of the borrowers etc. I seem to have been entered into open ended commitments for indefinite periods without even being able to see what it is I am committed to. Landbay, please reassure me that this is not what has happened! Where are the details of the loans you have made on my behalf? Are they all behaving?
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Post by gusgorilla on Feb 24, 2016 0:28:03 GMT
Landbay, I have 3K in the tracker fund so far but do not want to put in any more until I have solved this mystery. I cannot match what is said in the FAQ with what I think I am seeing in the website user interface. The FAQ says "the funds you lend will be diversified across multiple mortgages to minimise the effects of any losses incurred by defaults." However when I look at my portfolio it looks like I have only 4 loan parts, one of which is £1000 and another of which is £1810. Can you tell me what I am missing here please? Has the software gone wrong in my case? I note that your FAQ also says "in order to achieve sufficient diversification we recommend you lend at least £1000". Despite having exceeded this by a factor of 3 it does not seem to have had the desired effect. Have I missed out some some steps? I notice the FAQ says "you may then lend subsequent amounts in multiples of £10". Could you please tell me where and how to do this?
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Post by gusgorilla on Feb 22, 2016 18:27:07 GMT
I understand. The disclaimer needs to be rewritten to make it clear that it is only interest, not capital, that is at risk. That makes you sound much safer.
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Post by gusgorilla on Feb 22, 2016 0:58:56 GMT
I do not understand the disclaimer at the foot of the page. If there is a buyback guarantee then why can the return not be guaranteed? The statement seems to contradict itself.
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