elliotn
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Post by elliotn on Dec 12, 2018 12:29:13 GMT
Really hoping for some progress on the data recovery. Fingers crossed. And hoping BDO don’t spend a fortune on it when some forumites are offering it for free. I’m less hopeful given we’ve only just had an update with no apparent significant progress from 6m ago. Similarly, to keep professional control I’m not greatly expecting them to allow investors to tinker for free ahead of their own IT “experts” either.
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elliotn
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Post by elliotn on Dec 12, 2018 12:04:16 GMT
How about giving some priority to lenders who have transferred in ISA cash waiting to be invested? Unlike others, they have no choice but to see the cash lying idle indefinitely. Could be discriminatory against tax payers with cash waiting to be invested (who if fully invested elsewhere may face similar choice restrictions). Non-tax payers presumably have a choice to switch platforms to avoid having cash lay idle forever.
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elliotn
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Post by elliotn on Dec 12, 2018 11:59:14 GMT
I’ve only just joined but aiui the current increase would be 23% (4.3% to 5.3%). This increase is predicated on increased origination offsetting previously higher cash drag. This is theoretical to the extent it assumes being fully reinvested but improved returns should be actual not imagined for being able to reinvest more quickly. I’ve seen recently quoted IRRs by investors around this increased return.
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elliotn
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Post by elliotn on Dec 12, 2018 11:40:00 GMT
This way of renewing does not work for me. My funds in PL are all an ISA transfer in and cannot be topped up with cash and there is insufficient time to do a further transfer. So I will miss the renewal, unless it has not filled by the time the original repays, and will then have cash sitting idle. Your point about platform refi stands for ISA only investors without any additional funds on the platform. In this instance, more conservative lenders may be delighted at a 100% redemption based on the near doubling of the rent by the same tenant to provide the MV to leverage the purchase of the neighbouring property (regardless of a little cash drag in their tax avoided wrapper).
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elliotn
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Post by elliotn on Dec 12, 2018 5:35:13 GMT
Proplend... Is Loan Exchange the same meaning as Secodnary Market? If so.. looks like tons of value is available. How long does it take to sell, if you need to? Depends on the loan. Those have been up yonks. Investing in the belief you can always pass on your risk to the next fool is extremely high risk. No deal could freeze the SM markets.
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elliotn
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Post by elliotn on Dec 11, 2018 15:37:21 GMT
Conference or video call? Real life. In person. Whites of their eyes. Suggestions for those that find it impossible to be there in person. But certainly best to look the Crooks in the eyes, yes .
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elliotn
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Post by elliotn on Dec 11, 2018 15:25:32 GMT
and currently an apparent 43% Yield (AER) on SM Until you snap it up!
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elliotn
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Post by elliotn on Dec 11, 2018 14:21:46 GMT
Conference or video call?
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elliotn
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Post by elliotn on Dec 11, 2018 4:26:48 GMT
A sale by auction from default of a Ball World Timer (a watch I guess, my ignorance is boundless ) resulting in a loss of interest unbolted.com/uk/lenders/view-loan/1574/Contribution from trusts £20.00 Lender Interest Loss £67.87 Thanks, just taking another look at Unb, assuming that’s the total loss across all lenders?
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elliotn
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Post by elliotn on Dec 10, 2018 1:50:28 GMT
From 55 loans . I have had one loss and four in arrears and four newly paying late/in instalments . As a guess, taking into account what might happen with the above , I think I may be ending up earning around 4 to 5% in the long run + 1.5% cashback. Even though the interest rate on most of the loans is >11% . Most of my loans were bought on the PM by bidding at the top rate at the last minute . Since the top rates were reduced by 2% , I have stopped buying new loans as I think this reduced the risk reward ratio. Probably buying loans on the SM at lower rates means you will have to be lucky to turn a profit . On SM you can check repayments and latest accounts which might help reduce the reliance on luck.
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elliotn
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Post by elliotn on Dec 10, 2018 1:43:53 GMT
£18 put in to tranche a and £72 in tranche b today....will it fill this year? Probably quite a few factors at play, the time of year being one, some people will be wanting extra money for Christmas so may be withdrawing interest payments rather than looking to reinvest (additionally interest payments are a bit thin on the ground with non performing loans) On the other hand probably not going to be many new loans this year, so if any repayments are forthcoming it might seem as good a place as any to put it in a quiet spell. On the other, other hand maybe nobody wants to invest in the loan. Yet another other hand (I am obviously assuming we have octopus investors) the borrower may lose hope in it filling and decide to cut their losses and pull it. So it would seem I have no idea, and doubt anybody else does either. Quite the octopus choice (whose parent has tentacles in many, some might say, safer Xmas pies).
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elliotn
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Post by elliotn on Dec 10, 2018 1:39:30 GMT
I’ve just registered. Re PF, it’s net 72k cost to date versus 1.1M paid in from the SH (wealthy VCs) ie 15x cover at current run rate.
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elliotn
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Post by elliotn on Dec 10, 2018 1:35:30 GMT
Behind paywall, anyone able to copy here (maybe redacting VTG)?
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elliotn
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Post by elliotn on Dec 9, 2018 15:51:21 GMT
Yes there have been a number of pretty new loans which the underlying company is going into administration: B**** R*** E********* Ltd - Looks a bad one, the guy has terrible reviews online and most worrying has a HSE prohibition order against the business BEFORE the loan went live. Also the business took out another secured loan shortly after the LC one. Understand from sources that the company is filing for liquidation although LC have yet to confirm this yet. IMHO pretty much no chance of recovery. The guy has clearly ghosted them after the default. W**** W**** Ltd - Well always looked a very high risk loan, lending to a retail company which is wanting to consolidate existing loans and has a terrible credit rating. It was never a good mix and hardly surprising after two repayments it stopped paying and is now filing for liquidation. C***** M****** LIMITED - Again a very very high risk business. A business making easily replicated placemats and coasters with country scenes through websites. Did anybody look at the p&l, loss making for 2 out of the 3 years and a profit of £4k on sales close to a million in Feb 2017. Again has had a terrible credit rating for a long time. I*C*****L LIMITED - Again look at the credit rating, it has fallen off a cliff in the last year. This tells you one thing, the company is not paying its bills and is under severe strain. And in the description they talk about going from an overdraft to an invoice discounting line. This tells you again they have no cash, their customers are taking ages or are not paying them and they are living hand to mouth. I know retrospect is an easy way of appearing clever, but to me LC is still giving out loans to companies it shouldn't and due diligence doesn't seem great. The top loan being given to somebody with HSE prohibition notice is pretty embarrassing. Very similar to the case a few years ago of a loan being given to a restaurant with a notice from the council to shut down for a vermin infestation. If it wasn't my money I think it would be amusing! To me its simple, if a company has a bad credit rating its mainly for one reason they haven't paid their bills on time. So why would you then give them a loan for them to do exactly the same to you! To be fair to LC it does appear a lot better run than a few years ago. Still not entirely convinced that long term the returns by being an investor are above the default rate. Need to take into account whether their very generous cashback offers make it worth it. For me I think it does just about but don't get in too deep, either with the entire platform or one individual loan. Can't really see why one would invest though without the cashback as for my completed investments my losses are above interest and I have a large number of defaults looking almost certain in my current loan book. I avoided these on initial review but I’m struggling with the 1st one, is that new, could you give one or two more letters please? I think there’s enough profitable co’s on there, I invest in about a 1/3 which stills gives me plenty of diversification, about 100 loans.
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elliotn
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Post by elliotn on Dec 9, 2018 7:56:25 GMT
Some of those have been rumbling for a while, refi’s and sales have a habit of not sticking to their expected timetables. The kids may have to wait until the New Year sales .
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