dandy
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Post by dandy on May 4, 2017 14:20:57 GMT
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dandy
Posts: 427
Likes: 341
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Post by dandy on Apr 28, 2017 9:03:08 GMT
Yes, just got mine. The forum brought up far too many of FC's failings to be convenient. Mel**** has finally brought it home to them that they are not the smartarses they smugly thought they were. Similarly, the original Indie forum which they got rid of because they didn't like the public criticism. A billion dollar valuation suggests otherwise. I'd say they are very very smart
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dandy
Posts: 427
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Post by dandy on Apr 28, 2017 8:53:55 GMT
No you really are not ... although I am sure there is some obscure metric you have found to back that up spurious claim They had lent £150m total heading into 2014 and finished the year on £440m. We've lent £240m which is squarely in that range and our sales targets for the year will see us close it out somewhere in the £400-500m bracket if achieved, and that all makes us as big as RS were in 2014. that's an average of ~ £25m a month for RS in 2014. didn't know AC were currently averaging that. congrats I guess
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dandy
Posts: 427
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Post by dandy on Apr 27, 2017 14:53:37 GMT
Assets and Landbay are too small and therefore too risky for me. I like to see a decent track record, hence my use of RS and Z - despite low rates. We're as big as RS were in 2014 and nearly six times the size of Landbay No you really are not ... although I am sure there is some obscure metric you have found to back that up spurious claim
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dandy
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Post by dandy on Apr 27, 2017 10:36:32 GMT
dandy . If someone purchases a loan in a company, that is a wholesale lender, on the secondary matket they see an interest rate based on the loan running to term. If they have purchased at a premium and the loan repays before the premium is covered by interest then tue loss is made. If platforms choose to ask borrowers to find finance elsewhere, as a result of the letter, without indicating this to lenders, or stopping trading for anything but par on those loans, then they are creating the loss by their actions. You can probably bet a sizeable chunk of your resources thay the platforms won't lose money and will not compensate for losses incurred. I was just raising awareness to encourage investors to consider the borrowers activity when doing due dilligence. If in doubt then investors can ask the platform and get the response in writing before buying. Ok I see what you mean but its quite a hard argument to press as loans can be repaid at anytime anyway - I assume that would be quite rare as hardly any platforms allow trading at premiums. some wholesale finance is allowed also depending on how it is structured
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dandy
Posts: 427
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Post by dandy on Apr 27, 2017 9:39:11 GMT
with the SAAMCO cap this means lenders can generally only claim the difference between the valuations (valuation less true valuation) and not all other losses stemming from the loan - eg recovery costs, additional interest, administrative costs, fire sale circumstances etc
so you end up with a situation where you must sue the surveyors PII - this would take ~ two years and ~ £100k in legal costs - will be capped in what you can claim and will have that amount reduced even further in a pre trial settlement. contributory negligence is usually a big reason for accepting only a % of the cap eg the lender ought to have known the value was wrong on a basic google search.
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dandy
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Post by dandy on Apr 27, 2017 9:24:47 GMT
well what type of loans are you referring to where you think lenders could end up suffering losses (purely as a result of the wholesale finance issue and non disclosure thereof)?
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dandy
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Post by dandy on Apr 24, 2017 13:54:52 GMT
dandy . I would not be so certain as you seem to be. Good luck to those that continue their trading in loans of this nature. I hope I am proved wrong or that the platforms, who know they are doing this, put things right or employ a very good lawyer. I am only saying the rules have existed for a long time they havent just recently been introduced by FCA. So you would assume the platforms/lending companies that do this must do it in a compliant way.
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dandy
Posts: 427
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Post by dandy on Apr 21, 2017 9:31:54 GMT
FWIW Warren Buffet said we should see DOW 100,000 in our generation - easy life
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dandy
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Post by dandy on Apr 20, 2017 9:25:52 GMT
AFAICS these are not new rules created by the FCA but rather a warning about possible breaches of existing rules so it is not as if the law has been changed mid-loans.
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dandy
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Post by dandy on Mar 31, 2017 11:18:02 GMT
Possibly taking the banter too far? What exactly are you insinuating? nothing that isn't all over the forums already - dont get your knickers in a twist
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dandy
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Post by dandy on Mar 31, 2017 10:42:35 GMT
We used to be called saving stream
Until we were stopped by the FCA team
They thought it was misleading
If only they knew what was breeding
So we rebranded to lendy
Its apparently more friendly
and now our name does not include saving
the FCA don’t care how we are behaving
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dandy
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Post by dandy on Mar 30, 2017 10:38:07 GMT
I quite like the OFFER site not sure why everyone is so hostile - he was clear at the start he knows nothing about GOJI but what is the big harm in suggesting he looks at possible other options also ?? yes its self promoting but who cares
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dandy
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Ablrate (ABL) in Administration
Huddle Capital
Mar 29, 2017 14:34:05 GMT
Post by dandy on Mar 29, 2017 14:34:05 GMT
Cant see any reference to Huddle on FCA register, unsurprising as it isnt currently carrying out regulated activities Rebs doesnt have any AR listed and I dont think it has the necessary permission to act a principal. maybe it is because they only allow Company accounts to lend money so they do not need any FCA permission? Huddle Capital is a platform that facilitates business to business lending. In order to invest in SME loans through our platform, you must invest through a United Kingdom based limited company. Individual investors are not able to invest through our platform as yet.
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dandy
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Post by dandy on Mar 10, 2017 9:52:06 GMT
£700m (AUM) /£22,000 (average) makes ~ 31,800 lenders. So ~ 18,000 lenders have left at some point
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