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Post by justdabbling on Jul 26, 2019 18:43:10 GMT
Lenders were asked to classify themselves into categories 'Restricted investor (consumer)' or 'Sophisticated investor'. I classified myself as 'Restricted' and cut and pasted the screen at the time we were threatened with litigation over the London loan, as I thought it might be useful, so I am quoting from my screen shot. I cannot find that screen on the Lendy website any more. I am sure I saw detail of this on my account a couple of weeks ago but I can't find it now. I wonder whether it has been recently removed... Yes, i Think it is a bit suspicious.
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Post by justdabbling on Jul 21, 2019 11:45:01 GMT
Lenders were asked to classify themselves into categories 'Restricted investor (consumer)' or 'Sophisticated investor'. I classified myself as 'Restricted' and cut and pasted the screen at the time we were threatened with litigation over the London loan, as I thought it might be useful, so I am quoting from my screen shot. I cannot find that screen on the Lendy website any more.
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Post by justdabbling on Jul 4, 2019 8:08:49 GMT
I am withdrawing Euros to a Transferwise Euro bank account with a Germen Iban No. then can convert to pounds and send to a UK bank for a reasonable cost, so I don't know how Mintos deals with sterling withdrawals. When I opened the Transferwise bank account I made a small deposit to Mintos which means I can withdraw to that account or my French bank account. Revolut is effectively no cost in exchange, but 5k limit per month Thank you both for the information.
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Post by justdabbling on Jul 2, 2019 8:41:28 GMT
May I ask why you are withdrawing now from Mintos? Do you not want to wait to see what might be proposed? There really has been no explanation for this sudden block to UK investors I am not prepared to leave money uninvested on any platform, so will be investing it elsewhere, hopefully on a UK platform although it is hard to get a decent return for the risk. I note you said you are withdrawing everyday. Having never withdrawn from Mintos I don’t know what happens with the currency exchange, ie whether there is a minimum charge or a straight percentage, and I have just 250 Euro uninvested. Do you find it worth withdrawing amounts this small? If you are able to let me know how the transfer costs are calculated that would be much appreciated.
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Post by justdabbling on Feb 21, 2019 21:25:22 GMT
Indeed, the loans for initial development have proved to be quite high risk lately.
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Post by justdabbling on Feb 21, 2019 21:23:13 GMT
I think the market place has changed since the missed payments and restructuring of M***** V*****C** and related missed payments on M***** V*****B******, the proposals currently being put to lenders for G*** S******* and the repayment with only 2% for U***** D**** G********. snippedThere has been no update since June 2018 for C****** R********* G********** so I have sold some of my holding thinking that capital + 10% now is a fair enough deal, although I will hang on to some as it might pay off. Maybe this explains why the high returns are not attracting higher purchase offers? Good assessment. Getting out of GS and UDG was part of my de-risking approach last year after MVC. I similarly reduced my exposure to CRG too. I'll still accumulate Abundance debentures when they seem good value, but at a much lower level than before.
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Post by justdabbling on Feb 15, 2019 6:19:11 GMT
Yes, that is a possibility that had not occurred to me.
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Post by justdabbling on Feb 13, 2019 9:18:10 GMT
I’ve submitted a complaint too. It’s a case of a bare bones complaint today will probably be more effective than the detailed and referenced document that reaches no further than the to-do list.
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Post by justdabbling on Feb 11, 2019 17:01:28 GMT
I think the market place has changed since the missed payments and restructuring of M***** V*****C** and related missed payments on M***** V*****B******, the proposals currently being put to lenders for G*** S******* and the repayment with only 2% for U***** D**** G********.
Before these events high premiums were being paid. The calculator has also had an effect and made offers more sensible.
There has been no update since June 2018 for C****** R********* G********** so I have sold some of my holding thinking that capital + 10% now is a fair enough deal, although I will hang on to some as it might pay off. Maybe this explains why the high returns are not attracting higher purchase offers?
The market is strange but it takes a bit of homework to work out the risk with each loan. Clearly those paying back capital as they go along, amortising? I believe, are much less risky and as the years go by they pay a high rate when the interest has been fixed to be equal in terms of cash returns along the whole period of the loan. The deals that are most out of line are for small amounts so buyers and sellers not bothered enough to spend time reading the updates etc. I wonder if some are taking advantage of this and splitting loans into small parts for sale?
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Post by justdabbling on Feb 10, 2019 11:59:19 GMT
Because each project has a different model the debentures are difficult to value.
For I** P**** S****** there is a 15% additional interest payable if one project has planning permission I think by the time the initial period of the debenture has passed in 1 year 4 months time. The last update states that planning permission has been applied for for one project and that it is expected to take a year. For other projects there are plans to submit planning applications during 2019. There is also provision for the debentures to be extended by 2 years at a rate of 6%. This is, therefore, a gamble on whether the planning permission will be gained on time; however, the calculator uses the 15% rate to calculate the end return but I reckon there is at least a 50-50 chance that it will be extended by two years at a rate of 6%.
I suspect that a lot of the trades on the secondary market are by traders. For example, I put something up for sale to reduce my exposure to risk on that project and someone bid at my reserve price; meanwhile he also offered the same debenture for the same amount for sale and then, when my sale period was over, did not immediately agree to proceeding with the purchase. He did, though ask to proceed with the purchase when he had received an at least equivalent bid on his sale offer. This seems to be trading and using the time lags in the system to avoid any risk.
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Post by justdabbling on Jan 16, 2019 11:06:55 GMT
I do wonder whether those invested in the related Bio**** have been asked to contribute as the two ventures appear to be interdependent. It would be a pity if we lost hope of ever having our money back for the sake of this £34k shortfall.
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Post by justdabbling on Dec 21, 2018 12:16:41 GMT
I have replied agreeing to the resolution but I was very shocked that if this was needed it took so long for them to ask for this agreement.
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Post by justdabbling on Dec 2, 2018 12:39:43 GMT
Anyone got the pdf of the original CHP long term refinance offer from February this year? Just tried to send this as requested but the file is too big.
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Post by justdabbling on Nov 30, 2018 21:55:00 GMT
I think so, dated 31 Jan
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Post by justdabbling on Nov 26, 2018 18:08:53 GMT
We accessed the voting page from a link sent by email to our email addresses. I have just tried to see if I could go in and vote again as if I was trying to vote for someone else and the voting page is still there as if I had not already voted, so perhaps it would allow me to vote for someone else but hopefully there are some other safeguards. 🤔
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