amphoria
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Post by amphoria on Oct 1, 2018 14:48:39 GMT
Beginner question. Re 30DA and QA accounts, once an investor has loans matched to their money, can AC decide to move their money from one loan to another without any interaction from the investor? I am not happy with the level of diversification and want to know if drip feeding will secure better diversification. If money can be moved by AC from loan to loan on their whim, then there is no way to control diversification with these accounts. You get the same share of every loan as everyone else, so you are as diversified as possible. This process is continuous.
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amphoria
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Post by amphoria on Sept 28, 2018 20:09:53 GMT
It's a discount on the cost of the loan rather than an increase in interest paid. So if you were to by £1000 nominal with a discount of 1% it would cost you £990. The interest at 8% would still be £80 per year, but because you had only paid £990, the effective interest rate is 80/990*100 = 8.081%.
I think you have overlooked the fact that, as well as the interest payments, you will also receive repayment of £1000 capital for which you only paid £990, ie a £10 bonus. This means that if you keep the loan for a year before it repays, or you cash in at par, your effective rate is about 9%. This will vary for longer or shorter loan periods.
You are quite correct, although it makes the calculation somewhat more difficult as it now depends on the lifetime of the loan and whether the loan is amortising or interest only. Assuming a loan of exactly one year where the amortising element doesn't make any difference, this would give 90/990*100 = 9.091%.
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amphoria
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Post by amphoria on Sept 28, 2018 16:52:40 GMT
Does anyone know, With these new loans being issued at a discount how much of a boost to the interest rate is it ? e.g. #828 8% over 20 months, if you have £1,011 nominal at a cost of £1,000 Is this a 0.5% interest bonus on the yield to maturity? TIA It's a discount on the cost of the loan rather than an increase in interest paid. So if you were to by £1000 nominal with a discount of 1% it would cost you £990. The interest at 8% would still be £80 per year, but because you had only paid £990, the effective interest rate is 80/990*100 = 8.081%.
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amphoria
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Post by amphoria on Aug 27, 2018 9:50:42 GMT
My understanding of the known facts is as follows:- B***** other lenders £1,850,000 MT lenders £1,59,1470 Total loans £3,441,470 Tranche A £2,294,313 Tranche B 1,147,157 Sale price £2,101,000 Prior charges paid before B* and MT about £85,000 Administrators fee fixed at 2.5% £52,525 Estate agents fees (guesstimate) 1.5% £31,515 Other non legal Administrators expenses about £50,000 Legal solicitors/barristers amount unknown Guess £150,000 estimated Tranche A repaid 75% Tranche B total wipeout It appears that there is no privity of contract between MT and the valuer and I cannot see how MT can claim in respect of the valuation that bore no relationship to the actual value upon open market sale. The same goes for MT claims against the directors of the company if there are outstanding unpaid loans from the company to the directors Your numbers look wrong, are you incl interest. Tranche B only applies to MT so Total should equal A+B+others not A+B.You appear to have missed 4th tranche of MT loan in calcs. AIUI BPF partners only contributed to initial drawdown not subsequent tranches. Hate to say this but probably less than 75% recovery for A, 65% max. On mobile so haven't done detail numbers yet I have recorded the MT total as £1,830,000 which consists of £1,159,000 Tranche A, £579,500 Tranche B and £91,500 BPF first loss. The MT total ranks pari passu with the Other BPF Investors total of £1,850,000. Assuming that the other deductions from the sale price quoted above are correct, then this gives an overall recovery of ~48% and an MT Tranche A recovery of ~74%.
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amphoria
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Post by amphoria on Aug 13, 2018 16:49:27 GMT
My repayment on 10th was re-lent on 12th so it looks like it's more like 2 days at present.
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amphoria
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Post by amphoria on Jul 13, 2018 10:00:58 GMT
Borrowers? Who was contacted by a borrower?The problem here was that a third party company (with which some of us never had any dealings) contacted some/most Collateral lenders asking them to consider their loans and platform, exactly at the same time when they started refinancing former Collateral loans. Now, see it as you wish, but I have no doubt that there was a personal data leak and will follow it throug the former channels.... I meant Borrower has 3 loans with Col. He (possibly) has details of all lenders in those loans. Borrower approaches Huddle to refinance and says here is a list of my lenders on Col which may help you get the funding on Huddle. The only problem with this theory is that I am not, and have never been, invested in any of the 3 Newcastle loans, and yet Huddle have obtained by name and email address from somewhere.
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amphoria
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Post by amphoria on Jul 11, 2018 16:50:25 GMT
I've just received an email from Huddle Capital despite never having expressed any interest in the platform. I did not receive one before although I am an investor in Collateral. The new email list is called Huddle Mail2.
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amphoria
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Post by amphoria on Jul 1, 2018 7:50:21 GMT
On my account the banner has moved from the top of the dashboard to the top of the Account Statements and the total is correct.
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amphoria
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Post by amphoria on Jun 25, 2018 16:39:39 GMT
Mine's just come … I want to send a copy snail mail signed for …. where's the office address : ANYBODY? anybody? Rebecca Thompson
BR CMT Assistant
5 Temple Square Temple Street Liverpool, L2 5RH UNITED KINGDOM The address given in the report for returning PoD and all other forms is Shane Crooks BDO LLP 55 Baker Street London W1U 7EU
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amphoria
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Post by amphoria on Jun 25, 2018 13:33:58 GMT
There is a post on Frank (the 2nd one from Butcher on the page) where he surmises that the £14 million on loan according to BDO includes the non-drawndown loans based on a comparison with dan1 's spreadsheet. It is possible that BDO are not differentiating between the two different loan scenarios in their report because they have both been "invested" in a loan. The client account total would then just be un-invested cash.
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amphoria
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Post by amphoria on Jun 23, 2018 19:28:53 GMT
That is my understanding. but obviously if your Mr E can get Miss DD to set him as a proxy for her 0,2% things change. Yes, there was a deadline for registering as a creditor, but I don't know if that is also the deadline for choosing to be represented. A decision could be made without any opportunity for such re-grouping to occur, but I'm just speculating at this point. Nominations for the Creditor's Committee need to be posted to arrive at BDO's offices by 4 pm on 4th July (see para 16 of the report).
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amphoria
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Post by amphoria on Jun 22, 2018 21:49:56 GMT
I received my proof of debt form at 4.30pm , it is accurate to within £1.
I purchased several small loan parts during February, including one that I think never drew down.
I had zero cash on account - maybe the errors are with people who did have some idle cash on the platform?
I last put money into COL from my bank in late December.
My last purchase was on 6 February.
Do errors occur with people who had transactions after mid February?
I had a small amount of uninvested cash but it matched my own records exactly. I also had 7 bling loans renew between 22nd and 24th Feb but they draw down almost immediately. Did anyone have undrawndown property loans, yet still have a match with their own records?
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amphoria
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Post by amphoria on Jun 22, 2018 15:48:11 GMT
Mine agrees to my own records to the penny including uninvested cash and the interest paid on loans that renewed in Feb. Obviously no end of Feb interest.
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amphoria
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Post by amphoria on Jun 21, 2018 16:27:38 GMT
I have had 3 loans which have been declared in default once Zopa had been notified of the borrower's IVA. The defaults were also offset against earnings in the monthly reports.
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amphoria
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Post by amphoria on Jun 5, 2018 13:45:07 GMT
It is believed that the contracts are amortising, ie. you do get a proportion of your capital back each month. Also they differ from the 5 year in that you can sell fee free subject to buyers being available. However, you are right in that you do not know the length of the contract.They might technically be amortising but you don't get to see to control the capital repayments as they are immediately reinvested at the same rate as original loan (but obviously in a different loan). At least that what RS appears to be saying. Not that it's clear. yorkman - I would appreciate it if you added your comments is such a way that they don't appear to be from me. The last 3 sentences of the above paragraph are not mine. Change to the BBCode tab if you can't work out where to add your comments.
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