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Lendy (L) in Administration
PBL 019
Dec 11, 2014 21:07:17 GMT
Post by Duane Dibley on Dec 11, 2014 21:07:17 GMT
It was pretty well all gone by lunchtime. Bear in mind that it was a reincarnation of an earlier loan so alot of investors just moved there existing commitments Eh? How did you manage that? Got my money back from PBL009 alright but never got the opportunity to move it into PBL019.
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Post by Duane Dibley on Dec 11, 2014 20:24:13 GMT
It really doesn't sound that difficult to me. I agree it's not difficult. Not difficult at all. But then again I never said it was difficult. But maybe if it takes over two hundred words to explain it then maybe it could be simpler after all. The point I was making was why was it changed? It was working perfectly well before so why tinker around with it now? What was wrong with the way it was? In my opinion they should have introduced the new website and then left people to get used to how it worked, its good points and its bad points, rather than chopping and changing everything at the drop of a hat. Who's to say that someone won't come along next week and start tinkering again and change it back to how it was previously? Either they had confidence in their new website, that it worked properly and met their objectives or else they didn't. If an internet based company doesn't have confidence in its own website what does that tell you?
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Post by Duane Dibley on Dec 9, 2014 21:28:27 GMT
Which raises the question how do you maintain a sum of money in the MLIA to purchase a piece of a loan when it comes available, but at the same time have the income from the sale of another loan withdrawn when the loan is sold. That sounds like a perfectly usual and commonplace position to me. You want to sell some holdings because you want the money, hardly an unexpected scenario. This constant tinkering and retinkering is enough to drive people to distraction. The old website had its good points and it had its bad points but most people just accepted it for what it was and got on with the business of p2p investing and making money. Then the new website was introduced, which again had its good points and it had its bad points, and that was fine, but now it's constantly changing and no-one knows where they are or what's happening. If you do one particular action one day and get a result then it's perfectly reasonable to expect to get the same result the next day when you take the same action, but no you don't because someone's been tinkering about with it, changing things that don't need changing, constantly striving for improvement without a clear goal in mind. To me it seems that the new site has been introduced without proper testing, or they are trying to be all things to all people or they are using us as guinea-pigs for when legislative changes are made to p2p investing. It's like Ford introducing a new car which nobody has actually taken for a test drive but it's got some lovely new seat design and a fancy new colour schemes. It doesn't matter that it doesn't actually drive properly but hey just look at all the switches and the buttons. All the high tech gadgets count for nothing if you can't actually get from A to B without breaking down.
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Post by Duane Dibley on Dec 1, 2014 9:26:30 GMT
I think that's wrong, particularly as lenders need to ensure they have the free cash to cover all their targets. No they don't. You can set your target for whatever you like and the loan parts will only be bought when the funds become available either through deposits, the selling of loan parts or through repayments.
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Post by Duane Dibley on Nov 27, 2014 19:58:00 GMT
Look after the pennies and the pounds will look after themselves, as my Granny used to say. Or as my Granny used to say, penny wise pound foolish. So whose Granny's right? There's only one way to find out ......
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Assetz Capital (AC)
Ka*e Group
Nov 18, 2014 19:03:57 GMT
Post by Duane Dibley on Nov 18, 2014 19:03:57 GMT
Was that last Friday, this Friday or just some random Friday sometime in the future?
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Post by Duane Dibley on Nov 16, 2014 10:08:51 GMT
While Synthesisiss's investment is clearly great news for Ablrate it does leave questions over how it will affect us smaller investors.
It may well be that it attracts more borrowers to Ablrate and loans are offered that otherwise wouldn't be, but he who pays the piper calls the tune and our thrupence ha'penny offerings could become more of a hindrance than a benefit.
I'll continue to throw a few quid into Abelrate's cap but I won't be increasing it to any great extent (for me) until I see how any conflict of interest between Synthesis and other investors plays out.
Good luck with the new partnership.
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Assetz Capital (AC)
Ka*e Group
Nov 12, 2014 22:40:59 GMT
Post by Duane Dibley on Nov 12, 2014 22:40:59 GMT
Anyone know what's happening with Ka*e Group?
A week overdue now. Supposedly funds were received by AC but for some unknown reason not allocated to lenders.
Will we be receiving a cheque in the post?
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Ablrate (ABL) in Administration
New Loan
Nov 9, 2014 20:49:38 GMT
Post by Duane Dibley on Nov 9, 2014 20:49:38 GMT
Hi caratacus I've invested in the ATR 72 loan and did so because it has "Instant Returns" stated quite clearly. "17 month loan at 12%, interest only. The loan is secured by MSN 402 an ATR 72 -202 aircraft. This loan will draw down on the closing date (or sooner) and has the 'Instant Returns' facility for bidders."
Indeed it does. No mention about it for the Cessna Caravan though, so presumably doesn't apply for this one.
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Ablrate (ABL) in Administration
New Loan
Nov 9, 2014 16:38:53 GMT
Post by Duane Dibley on Nov 9, 2014 16:38:53 GMT
Do we know whether this loan qualifies for 'Instant Returns'? I can't see anything that says it does, so presumably not.
There's no way that this loan will fill prior to draw down, and without 'Instant Returns' even the smallest of loans will struggle.
It's a good concept, a good website, I'm invested myself in the previous loan, but without adequate finance I'm afraid the business is doomed to failure.
What happens if pledges don't reach double figures? Do underwriters step in? If so investors will be reluctant to commit knowing the sales on the after-market will be all but impossible whilst underwriters have 90% left to sell.
Unfortunately it's a vicious circle but without Instant Returns and much smaller loans to start with I'm afraid it will never get off the ground (no pun intended).
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Post by Duane Dibley on Nov 3, 2014 9:05:15 GMT
The one thing I can't understand is why SS will not be renewing any of the boat loans if the borrower would want to do that. Once the loan has been set up, I would have thought that the effort required to organise a renewal would be minimal. I do wonder whether that policy will increase the likelihood of default on maturing boat loans. There again if they're not been renewed there's no benefit in holding them to term and we might as well all bail out before they do mature, there's never been any shortage of demand for them in the past even when they've only had a couple of weeks to maturity.
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Post by Duane Dibley on Nov 2, 2014 9:30:35 GMT
I remember the good old days when you couldn't snaffle up a loan part for love or bananas and you had to wait a month of Sundays for a loan to drawdown.
Yet did we complain? Well did we? Did we hell. We sat down in front of our computer screens with our salmon paste sandwiches and our mugs of bovril pressing the F5 key until our fingers bled, just waiting for that elusive £20 loan part in some provincial furniture retailer on the verge of bankruptcy to magically appear only to see it disappear again before our very eyes.
Ahh I miss those days.
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Post by Duane Dibley on Oct 31, 2014 9:18:03 GMT
Include the amounts deposited to fulfill shadow bidding in the 'Your Total Investment' figure.
I'm losing track of what shadow bids I've made, what have already been settled and what's still outstanding.
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Post by Duane Dibley on Oct 31, 2014 9:09:57 GMT
I think I'll be giving it a miss too. It's not like we're short of property loans to invest in, so I'll wait and see how they manage when a property loan defaults.
Assetz are still plodding along with their defaulted loans, one from Saving Stream has just over-run but at least with them you can bail out via the secondary market before it's due, but how Funding Secure will act we don't know.
It's one thing auctioning off a couple of old watches and a bag of diamonds if a loan defaults, not so easy with a house or a plot of land.
Play it cool on this one. Play it cool.
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Post by Duane Dibley on Oct 23, 2014 19:28:43 GMT
With the variable rate auctions such as K**e Group, how do you know which loan parts will be sold if you can no longer preselect them? Will it be the lowest rated ones, or the highest rated?
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