elliotn
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Post by elliotn on Sept 14, 2018 14:31:49 GMT
I'm trying them again, after poor results first time round. The current promotion gives you a 5% buffer against defaults - limited to the first 1000 to sign up for current investors. (no limit for new investors) Very good offer! I would've gone for it if I didn't already have up to my self-imposed limit for LC. Annoyingly just got a ‘measly’ £200 for 10k!
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elliotn
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Post by elliotn on Sept 14, 2018 7:02:20 GMT
Is cash drag proxy for queues or is there any visibility (seems We touched on showing Q lengths as possible improvement). My test 1/2k - ten pounds invested in a week (rates set from 8-15%), ten pounds reimbursed by PF
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elliotn
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Post by elliotn on Sept 13, 2018 1:36:59 GMT
Sadly there were a few menbers here with undeclared interests, syndicate membership and direct connections to BDO who went out of their way to sing the praises of this arrangement and inform us that BDO were ready to hit the ground running in terms of recovering our cash. As the weeks and months elapse and fees no doubt pile up, the personal agendas and vested interests of those unnamed members and ex members become clearer - although none of us with switched on minds and experience were ever fooled by their attempts to try and manipulate opinion for their own gain. As I have stated previously, I fear that the interests of the ordinary retail investor with a modest amount at stake and a disproportionately high percentage of his or her overall wealth invested, will not be prioritised and the fatcats will look after their own. More fool us and shame on the FCA. I remember you repeatedly regaling us with your superior selling strategies on Lendy, your sky rocketing confidence in MT, your proud 15%ers on Collateral whilst all the time guffawing about never having lost a p2p penny. I hope you haven’t been caught with your pants down in high risk tranches on MT & Collateral with a disproportionately high % of your overall, and not inconsequential, retail wealth. That would be financial recklessness beyond abandon for which only you could be held accountable. Edit: Re syndicates - whilst I’m only a SH (67% prudently invested in cash/undrawn/bling), given the moribund SM leading to the cash back and high rates that you jumped wholeheartedly in at, I can only imagine some have been caught with large sums invested on the platform to the benefit of high risk, retail investors such as yourself if a bucket distribution is ruled upon. Re BDO - I’m sure Bondmason have no interest in a BDO stitch up and there are other independent members with a voice on here to let us know if anything untoward was going on. There may still be a faint ray of hope for us little S.Hitters, don’t give up the ghost yet!
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elliotn
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Post by elliotn on Sept 13, 2018 1:24:10 GMT
Good advice, could be a long one although even BDO cannot amend God”s will.
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elliotn
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Post by elliotn on Sept 12, 2018 16:15:22 GMT
Don't lower the bid levels Proplend. Anything less then 5k starts to become too much of a nuisance especially for only a six month loan. Creating supply is the key rather then artificially limiting demand. Fair points but if it goes in a minute or two that’s a lot of disgruntled MHs.
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elliotn
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Post by elliotn on Sept 11, 2018 15:39:29 GMT
What were the Yates’ prices up there?
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elliotn
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Post by elliotn on Sept 11, 2018 14:32:22 GMT
MoneyThing Is there any on-site security? And will there be during the anticipated period that the site is mothballed? Afternoon timmy. I think the reality is that there will still be ongoing snagging works post practical completion which means people will be on site. However, the Administrators did mention they intend to put two guardians in the blocks for security and maintenance purposes whilst it is moth balled. Regards, Ed Excellent update I thought MT, thanks.
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elliotn
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Post by elliotn on Sept 11, 2018 12:13:58 GMT
Same here disappointing, is the only way to guarantee a part to turn on auto bid ? but then you automatically suck up the stuff on the secondary market which I don't want to do.
Update - my £1,000 deposit was credited as £10,000 which has turned my frown upside down a bit but I guess I have to wait for them to fix before withdrawing my original £1,000.
You can use auto-bid to grab a piece. Just remember to switch it off again before the run on the SM which takes place around 3pm. Do you have to have 10k on platform for 2k bite? Edit - depends on size account. proplend still have to manage the loan limit to accommodate their hitherto self-select lenders - as well as Auto gamers - and we still have to wash the excess funds through their 3 day withdrawals. Nah. Edit - that’s 9-5 working days btw ie withdrawal 1am Fri will be received the following Tue, 5 calendar days later - which I find perfectly absurd for a “fintech” company.
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elliotn
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Post by elliotn on Sept 11, 2018 12:07:07 GMT
The one thing I would really like to know is why, when the FCA jntervened, thy caused immediate chaos almost guaranteed to rob the very mall investors they should be protecting. Having allowed a business to operate and listed it on their website as authorised for all to see, surely they could have demanded an instant cessation of new loan offerings and an orderly run down of the business to protect investors from unnecessary financial vultures taking what will probably be the Lion's share of the carcass. Ahum. FCA never listed CUK as authorised. CUK decided to enter administration (and provide no records). Edit - crossed with insideout.
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elliotn
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Post by elliotn on Sept 11, 2018 12:02:35 GMT
Well the numbers don't make sense to me, Administrator careful to state he has no reliable info.
What I do see in the last accounts is a web of inter-company loans between entities controlled by K*rry T.
Very unclear what happened to the LY money and the poor old buyers deposits.
Watching with interest for the Administrators next report as Lendy got othing useful to say.
Ly £ should have gone in to the development (unless IMS was lieing, no reason to suspect?).
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elliotn
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Post by elliotn on Sept 11, 2018 11:16:35 GMT
proplend do you think your loan limit allowed enough investors? Now I have to negotiate your 3 day withdrawal ie submit today, process tomorrow, for the day after - by far the worst I know in p2p (although even the most cursory of looks at your accounts informs why you need to penny-pinch with regards to lender service). I’m sure you realise, Brian, that both of the above mean I, and perhaps other investors, will be investing less on your platform going forwards.
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elliotn
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Post by elliotn on Sept 11, 2018 5:00:04 GMT
Yep, never had a debit card one go more than 24hrs since they speeded up the approvals, one before last was probably more like 24mins. Think I’ve been spoiled on platforms that fund cards immediately (that will be all of them that I’ve used ). Bank & card approved at same time, have thrown in a 2nd card deposit to see if it’s quicker now the card’s approved (suspecting not but was feeling flush after a rookie abl error ).
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elliotn
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Post by elliotn on Sept 10, 2018 16:00:28 GMT
Hi nsiam. I've just joined and am sorry if this has been asked before, but how come it takes so long for a card payment to appear on my account? Would it be quicker via a bank transfer? Good question. I can confirm bank transfer is no quicker! (Sent my first ones off last night).
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elliotn
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Post by elliotn on Sept 10, 2018 15:43:57 GMT
Have we seen the trading results for Wigan yet? Re Scotland, some extensive delays for equity JV on abl, I still like to know what plan B/C is etc having seen plenty of these things fall through. Ground Rents looks v low ltv % after capital repayment and explanation for delays having to provide notification to current residents. Also, the woodlands on Ly, substantial land owner has paid back significant capital, kept loan performing & now v recoverable ltv. Others? I used to like the buy back agreements on CUK (but don’t think they were legally binding). As you are aware the hotel has only been opened for 8 months. The bank is prepared to lend a higher amount based on their trading data which they have seen.. Since it opened i have kept a close eye on occupancy rates and reviews both have been good with a fair number of days where there has been no vacancies. This was a development loan with all risks once complete these risks were removed All risks are not removed upon practical completion as you will know if you have followed development loans for several years. There are still sales and commercial mortgages and refinances to arrange - lenders could still be left with a dud on their hands to be got rid of. They have asked the bank for more, I have no idea at all if the bank are prepared to lend it. I wouldn’t based on less than a year’s trading, that’s not enough to establish a going concern - and I speak as an ex-auditor and banker.
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elliotn
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Post by elliotn on Sept 10, 2018 0:14:52 GMT
Some members say it's one of the safest loan in p2p.. which made me wonder how on earth this loan can be considered safest. I'm just looking for reasons to invest if was the safest... But I think I won't touch it No loan in p2p is safe but Wigan or holiday park in Scotland are both safe with clear exit routes and with Wigan a viable going concern Have we seen the trading results for Wigan yet? Re Scotland, some extensive delays for equity JV on abl, I still like to know what plan B/C is etc having seen plenty of these things fall through. Ground Rents looks v low ltv % after capital repayment and explanation for delays having to provide notification to current residents. Also, the woodlands on Ly, substantial land owner has paid back significant capital, kept loan performing & now v recoverable ltv. Others? I used to like the buy back agreements on CUK (but don’t think they were legally binding).
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