|
Post by valuehunter on Mar 19, 2019 16:39:43 GMT
I did hold a large chunk (by my standards )of the senior charge in this; I was comfortable relying on the value of the security. The circa 20% Malaya Garnet recovery knocked my confidence, so the late renewals mean i've made an exit for now. Fingers crossed it comes good.
|
|
|
Post by valuehunter on Feb 14, 2019 7:32:49 GMT
2 x added here, thanks for the links
|
|
|
Post by valuehunter on Dec 17, 2018 22:28:09 GMT
92.77
|
|
|
Post by valuehunter on Jul 21, 2018 17:47:19 GMT
Not really good news for Huddle that their secured property loan is attracting such limited interest. You might have thought that Collateral lenders would have had some motivation in supporting refinancing. Not really good news for the Collateral debacle either. It's fully funded now... and underwritten by the parent company so always likely to draw down bar something major coming up. I expect we'll see another of the borrower's properties in the coming weeks
|
|
|
Post by valuehunter on Jul 14, 2018 17:09:52 GMT
One of the best loans on the platform imo...happy to see it extended for another 6 months
|
|
|
Post by valuehunter on Jul 9, 2018 6:29:20 GMT
Yes, but just try selling a newbuild residential development for anything like a reasonable price without an NHBC or equivalent guarantee. And remember that Lendy told us on 15th September 2017 that "The borrower also advised that the sale of 9 units are already progressing through legals with sale prices at or above those quoted within the valuation report." We have still had no confirmation that the "Structural Defects Insurance" issue (which according to Lendy on 8th June 2018 was necessary for refince/sales to go ahead) has been sorted out. So why was this not dealt with when the units were supposedly under offer nearly a year ago. Although Lendy might have said on 25th May that they "have no doubt that full repayment will be achieved in due course", and you might be laid back about repayment of your cash, this loan is now over 180 days overdue. That's a default in everyone's book. Just read back through the updates over the last year and then give this borrower a credibility rating. I hope you are right and we do receive repayment with interest in the near future, but I'm not holding my breath. If you're worried about this one you can sell with no queue atm. edit: (Loan has just passed the 180 day mark and entered the 'non-performing' category thus no queue) Personally I 5x'ed my stake once the bonus hit the 2% mark and have steadily increased as it's reached 3% Bit of a gamble sure, but the effective return is huge with the bonus...and even if this defaults I think a full recovery with interest + bonus is very likely
|
|
|
Post by valuehunter on Jun 24, 2018 6:51:46 GMT
There was a bid of 100% right up to 4 days overdue iirc. They only cancelled after I sold my meagre holding
|
|
|
Post by valuehunter on Jun 22, 2018 18:31:12 GMT
A lot of movement at the top in recent days according to companies house...possibly nothing but enough to make me jump ship with bids at 100%
|
|
|
Post by valuehunter on Jun 19, 2018 7:01:59 GMT
I think the valuation could be 10%ish too high based on the comparables I looked at...I'm in for my standard size though. Well done Huddle! More like this please
|
|
|
Post by valuehunter on Jun 12, 2018 14:16:40 GMT
Another chunk listed and cleared in a couple of minutes. I'm guessing most of the sellers were holders of the original loan. So here's what I don't understand - When the loan was 70% LTV with an unknown borrower, they were buyers... ... but when the loan is 48% LTV with a borrower who now has a track record of repayment, they are sellers... I am confused. I guess some were cashback flippers towards the back of the original queue
|
|
|
Post by valuehunter on Jun 5, 2018 12:12:24 GMT
It's bordering on ridiculous that Lendy haven't increased the rate or added cashback on this second charge.
I have a bunch in the first charge and I genuinely hope the second won't fill at this rate even if it delays's the project. It sets a bad precedent if this comes off at 12%
|
|
|
Post by valuehunter on May 25, 2018 18:48:01 GMT
I don't really understand this. DFL036 tranche 1 has gone live today but there's only £70k invested when they require near £1.77 million; even though it's been in the pipeline for a long while. Because it's a second charge loan and there's already over £250k available on the first charge loan on the secondary market; how on earth is DLF036 going to get filled? I can't see it ever getting close to being filled and then what happens? Does the project just stall because the borrower can't get the funds required? Hopefully Lendy stops being soo tight and pays an interest rate reflective of the risk... Their margin on this tranche will be huge and they have almost as much incentive as lenders to see this through.
|
|
|
Post by valuehunter on Apr 25, 2018 10:20:38 GMT
I'd find p2p much less interesting if every sm worked the same. Part of the fun for me is forming different strategies for different sites.
|
|
|
Post by valuehunter on Mar 17, 2018 20:29:36 GMT
I've been wondering the same dan1 , the price drops since interest was paid on the 10th have been alarming. It is tax season though, there's been a scare with collateral and i'm guessing like me, some people invested considerably more than their usual max per loan due to the 20% bonus...and not much of it has been shifting at 2-3% discount. On a more positive note, I walked past one of the parent company venues last Sunday. It was in the afternoon but looked really busy with two bouncers on the door. Gave me a little confidence boost
|
|
|
Post by valuehunter on Feb 3, 2018 17:36:51 GMT
haha my bad guys!
|
|