liso
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Post by liso on Feb 1, 2018 12:28:30 GMT
I too have concerns about OC. I have 4 "late" loans and an actual interest rate which is often below the advertised rate. Fluctuations are to be expected but my actual rate always fluctuates below, never above, the advertised rate!
My biggest concern though is the huge concentration of loans geographically around the London area, where property values are in decline. In a forced sale, I'm not sure how much OC's 5% first loss would mitigate.
Has anyone had a successful resolution to any of OC's "late" loans?
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liso
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Post by liso on Jan 31, 2018 23:25:45 GMT
If MT follow their usual procedure, the loan will appear on Pending tomorrow (1st), and the amount available for the SM will appear on the morning of the 2nd, then loan will go live at midday.
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liso
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Post by liso on Jan 29, 2018 18:43:20 GMT
IMO despite some reservations, this loan has more to like than some of MT's asset backed loans, Paisley for example. I'd be sorry to see it withdrawn.
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liso
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Post by liso on Jan 26, 2018 12:51:12 GMT
FAQ now available on the platform, answering a lot of the questions raised here.
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liso
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Post by liso on Jan 24, 2018 23:24:12 GMT
Me too, I've had buy orders waiting waiting waiting.
I do like AC but these frequent problems with buy/sell orders getting stuck is becoming irritating.
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liso
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Post by liso on Jan 17, 2018 18:34:30 GMT
@magenta14
I'm not sure that I agree with you. AIUI, it is generally expected that the supermarkets will be the ones hardest hit by Unit pricing. There is even an argument to be made that pubs/bars will be the beneficiaries as customers may return.
As for the pubs being "the poorest of the poor and down at heel", the valuer's comments on some of the pubs are at odds with that, as are some of the Tripadvisor reviews.
And MT's update makes it clear that the purchasers will have the choice to buy/run the pub as Tied or Free.
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liso
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Post by liso on Jan 12, 2018 11:39:10 GMT
I still wonder what is happening with the rental income. MT's update of September 2017 reports that contractors were attending to drain down the utilities, from which I assume the tenants had gone and there is no rental income.
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liso
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Post by liso on Jan 4, 2018 11:41:04 GMT
Good news hugoarchover and the sooner the better. The present system of payments is fiddly and time consuming, and any improvement would be welcome
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liso
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Post by liso on Jan 2, 2018 20:08:32 GMT
There is still a referral offer open to professional introducers, but for ordinary lenders like me AFAIK the referral offer has ended. Sadly.
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liso
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Post by liso on Dec 30, 2017 16:55:22 GMT
Given the fact the expect default rate is around 3-4%, and the loan outstanding is £9.1 mil, would you expect another £700k in default within the next 24 months?. On the basis of the defaults so far, I think another £700K is possible, and I am dubious that the business will survive if such large claims on the PF continue.
For me the risk is not worth the return. Over months the rate has dropped and dropped. Add cash drag and the rate is reduced further, lower than what GS state.
I have withdrawn most of my investment, leaving only a very small sum to see what happens over the next few months. I hope I'm wrong and that GS flourish, but atm I'm just watching from the sidelines.
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liso
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Post by liso on Dec 20, 2017 16:28:11 GMT
Yes, you're correct. You can't select specific loans to sell from your GBBA account. You can only specify how much of your investment you want to sell, but not the individual loans.
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liso
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Post by liso on Dec 20, 2017 14:34:54 GMT
The majority of investments are long term and as Abundance has been trading only for 5 years, most projects have not yet reached maturity/capital repayment.
I have invested in a few short term deals which paid in full on time.
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liso
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Collateral (COL) in Liquidation
Is it just me?
Dec 15, 2017 11:49:06 GMT
Post by liso on Dec 15, 2017 11:49:06 GMT
Problem with mine too. Interest has been paid but the capital has vanished.
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liso
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Post by liso on Dec 14, 2017 18:39:56 GMT
Thanks for the info octopusjoe. Your clarification is appreciated, as is your responsiveness.
It will be helpful when this information is routinely available to us on the platform.
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liso
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Post by liso on Dec 11, 2017 15:49:24 GMT
Without knowing whether late really means defaulted, it's impossible to assess the current risk. Clarification would be appreciated.
OC's loanbook shows LTVs up to 76% which in a default makes a good recovery questionable, even with the platform taking a 5% first loss.
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