squid
Member of DD Central
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Post by squid on Aug 24, 2021 11:45:09 GMT
filip Please never be tempted to consider pursuing quantity over quality in the future... Part of LLI's attraction is the loan book's performance to date.
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Post by Deleted on Aug 24, 2021 11:53:03 GMT
filip Please never be tempted to consider pursuing quantity over quality in the future... Part of LLI's attraction is the loan book's performance to date. Thank you, squid. Any growth will be careful and considerate (and as it has always been). Filip
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markyg61
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Post by markyg61 on Aug 25, 2021 7:38:45 GMT
filip Please never be tempted to consider pursuing quantity over quality in the future... Part of LLI's attraction is the loan book's performance to date. Thank you, squid. Any growth will be careful and considerate (and as it has always been). Filip
So what is the pipeline looking like ?
Can we expect to see any new loans in September ?
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Post by Deleted on Aug 25, 2021 8:00:25 GMT
Good morning markyg61,
The largest loan on the platform was yesterday redeem ahead of time, a 540k bridging loan (combined) secured over two commercial properties, including a Santander Bank branch.
The borrower successfully followed the stated exit strategy set out in the loan listing and refinanced the platform loan with a FTSE listed bank.
Pipeline going forward is looking reasonably good and we would expect more loans to follow soon.
Filip
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Post by gramsky on Sept 13, 2021 11:50:06 GMT
Good morning markyg61, The largest loan on the platform was yesterday redeem ahead of time, a 540k bridging loan (combined) secured over two commercial properties, including a Santander Bank branch. The borrower successfully followed the stated exit strategy set out in the loan listing and refinanced the platform loan with a FTSE listed bank. Pipeline going forward is looking reasonably good and we would expect more loans to follow soon. Filip But when?
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baldpate
Member of DD Central
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Post by baldpate on Oct 12, 2021 13:21:37 GMT
Over the summer, the rate of new loans picked up markedly (7 new loan between March and August I believe), which encouraged me to add some cash to my account in the expectation that things were getting more back to the pre-COVID norm, or at least moving in that direction.
But now we find ourselves in the doldrums - not a hint of a new loan for almost several months now.
Can LLI give any realistic indication when the next loan will appear on the platform? I woud prefer an honest, if disappointimg, "no time soon" answer to your usual upbeat (and rather meaningless) "the pipeline is looking good"
Thanks
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Post by Deleted on Oct 12, 2021 13:40:04 GMT
Hi baldpate,
Fair question although we usually avoid providing specific timelines to avoid disappointing investors as many things are outside our control (legal due diligence etc.). So not an easy position for us either.
We currently have two loans in legals. One of them appears to be nearing legal completion and will be launched on the platform once it does. The second has been in legals for quite some time now (couple months) as solicitors are still awaiting searches.
We are awaiting valuation reports for two other loans. Subject to satisfactory reports, they will then go into legal due diligence (which may take anything from 2 weeks to months subject to if full searches will be required and other).
In addition to the above, I would estimate that we have around 10-15 loans that we have offered terms on and that have been accepted. However, we are still awaiting various documents prior to instructing valuations.
Generally speaking, we find that things are moving relatively slow although that is not in anyway an excuse, just an observation of what is going on in the market.
I hope that this helps (and does not disappoint).
Filip
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baldpate
Member of DD Central
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Post by baldpate on Oct 12, 2021 14:33:37 GMT
Thank you for an open and honest update, Filip - I understand it is difficult to speak with any certainty, but what you said was helpful in setting expectations. It is encouraging that there is at least one loan fairly well on with legals.
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Post by Deleted on Oct 12, 2021 15:07:08 GMT
Thank you, baldpate.
Much appreciated.
Honesty has unfortunately been in short supply in this sector but we do what we can tho remain open and transparent (even if we are a very small part of the industry).
Filip
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Post by overthehill on Oct 15, 2021 15:23:54 GMT
New small loan tomorrow, if you're thinking of opening an account.
Hi* Road , Liv* , 2nd charge, 72% LTV , 11.7% , min investment £1000. Not for me at that amount, wait for secondary market. location, location, no.
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Post by Ace on Oct 16, 2021 21:27:38 GMT
New small loan tomorrow, if you're thinking of opening an account.
Hi* Road , Liv* , 2nd charge, 72% LTV , 11.7% , min investment £1000. Not for me at that amount, wait for secondary market. location, location, no.
Just in case anyone else forgot that this loan was released for investment today (like I did), there is still room for 27 more investors before the £1k cap is removed tomorrow.
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Post by overthehill on Oct 17, 2021 10:15:29 GMT
New small loan tomorrow, if you're thinking of opening an account.
Hi* Road , Liv* , 2nd charge, 72% LTV , 11.7% , min investment £1000. Not for me at that amount, wait for secondary market. location, location, no.
Just in case anyone else forgot that this loan was released for investment today (like I did), there is still room for 27 more investors before the £1k cap is removed tomorrow.
That did the trick. Shame you lose the investor count when it is fully funded.
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Post by Ace on Oct 17, 2021 10:22:08 GMT
Just in case anyone else forgot that this loan was released for investment today (like I did), there is still room for 27 more investors before the £1k cap is removed tomorrow.
That did the trick. Shame you lose the investor count when it is fully funded.
I was just thinking the same thing. I wonder if a single lender took most of the remainder. I was thinking of taking some extra and selling some down when the next loan came along. It seems that anything will sell on the SM in seconds recently (no guarantees of course).
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Post by overthehill on Oct 27, 2021 10:20:14 GMT
New small loan tomorrow, if you're thinking of opening an account.
Hi* Road , Liv* , 2nd charge, 72% LTV , 11.7% , min investment £1000. Not for me at that amount, wait for secondary market. location, location, no.
I realised afterwards the flaw in the dull logic above. At the speed loans shift on the secondary market, I could have invested £1000 and sold £700.
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Post by chubby on Dec 2, 2021 17:12:18 GMT
Hi Filip Any sign of something coming through the pipeline ? Thanks Chubby
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