elliotn
Member of DD Central
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Likes: 2,681
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Post by elliotn on Apr 17, 2018 10:29:08 GMT
Hi tarq, Two loans in legals: 1. Bristol bridging loan mentioned earlier in thread: waiting for confirmation regarding potential completion date , should know shortly and will update accordingly. 2. Second charge bridging loan secured over a Pub. First charge lender is the bridging lender that we have worked with on several other platform loans. Target completion date is 20 April and loan will be made available shortly prior to completion. We're also working on a buy-to-let loan with a three year term and will provide futher updates when there is more clarity regarding any potential completion date. Regards, Filip Hi all, The Pub loan mentioned above is scheduled to be listed 11am tomorrow and will be made available for investments the day after (also at 11am). Commitment restriction of £1,000 per account will apply until 2pm Wednesday. We're still waiting to hear back from solicitors regarding the Bristol loan and will hopefully be in a position to provide further details later today/tomorrow. Regards, Filip Hi filip, thanks for the notification for this loan. The details do not show any retained interest, is this serviced by the borrower from the letting to his wife - what is the expected debt servicing/interest cover against this, thanks.
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Post by Deleted on Apr 17, 2018 10:57:50 GMT
Hi all, The Pub loan mentioned above is scheduled to be listed 11am tomorrow and will be made available for investments the day after (also at 11am). Commitment restriction of £1,000 per account will apply until 2pm Wednesday. We're still waiting to hear back from solicitors regarding the Bristol loan and will hopefully be in a position to provide further details later today/tomorrow. Regards, Filip Hi filip, thanks for the notification for this loan. The details do not show any retained interest, is this serviced by the borrower from the letting to his wife - what is the expected debt servicing/interest cover against this, thanks. Hi elliottm, That is correct, loan is to be serviced and as set out in the listing. Regarding the debt coverage ratio, a similar question has been posted on the platform (Loan's Q&A section) and will be responded to shortly as trading information is commercially sensitive (as also pointed out by the valuer in the valuation report - page 17) and it is not ideal to discuss it on a public forum. Regards, Filip
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IFISAcava
Member of DD Central
Posts: 3,664
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Post by IFISAcava on Apr 17, 2018 12:24:55 GMT
Someone's bot working well today, things are selling the instant they are listed
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Post by Deleted on Apr 18, 2018 16:12:31 GMT
Hi tarq, Two loans in legals: 1. Bristol bridging loan mentioned earlier in thread: waiting for confirmation regarding potential completion date , should know shortly and will update accordingly. 2. Second charge bridging loan secured over a Pub. First charge lender is the bridging lender that we have worked with on several other platform loans. Target completion date is 20 April and loan will be made available shortly prior to completion. We're also working on a buy-to-let loan with a three year term and will provide futher updates when there is more clarity regarding any potential completion date. Regards, Filip Hi all, The Pub loan mentioned above is scheduled to be listed 11am tomorrow and will be made available for investments the day after (also at 11am). Commitment restriction of £1,000 per account will apply until 2pm Wednesday. We're still waiting to hear back from solicitors regarding the Bristol loan and will hopefully be in a position to provide further details later today/tomorrow. Regards, Filip Hi all, The Bristol bridging loan is scheduled to be launched 11am Friday this week. There will not be any commitment restrictions given the loan's size (around £322k). Regards, Filip
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rs
Member of DD Central
Posts: 467
Likes: 254
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Post by rs on Apr 18, 2018 16:30:08 GMT
Dear Filip Good to know. Will there be a preview of the Bristol loan and then after 24hrs loan is made available for investments?
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Post by Deleted on Apr 18, 2018 16:39:21 GMT
Dear Filip Good to know. Will there be a preview of the Bristol loan and then after 24hrs loan is made available for investments? Hi rs, The usual 24 hour preview will apply - loan will open for investments 11am Saturday. Regards, Filip
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rs
Member of DD Central
Posts: 467
Likes: 254
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Post by rs on Apr 23, 2018 8:52:42 GMT
Hi Filip The loan filled pretty quickly on Saturday. Any idea when the next loan is going live?
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Post by Deleted on Apr 23, 2018 9:02:51 GMT
Hi Filip The loan filled pretty quickly on Saturday. Any idea when the next loan is going live?
Hi rs, We have one loan in legals (second charge BTL secured over a flat in Central London with a three year loan term). The target completion date is end of this month and we should know more shortly when the loan could be made available (if at all) and I will update accordingly. Regards, Filip
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xtab
Posts: 41
Likes: 34
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Post by xtab on Apr 25, 2018 7:48:49 GMT
Someone's bot working well today, things are selling the instant they are listed This drives me bonkers. Real people just can't get a look-in no matter how quickly you go and look at the sale. I've been gradually withdrawing from this platform as loans are repaid because of this. I had high hopes for LI but find the frustration has put me off them. It'd e nice if they introduced an Autolend feature on secondary loans, but as the secondary market sales go so quickly I don't suppose it's worth their while.
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IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
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Post by IFISAcava on Apr 25, 2018 8:51:04 GMT
Someone's bot working well today, things are selling the instant they are listed This drives me bonkers. Real people just can't get a look-in no matter how quickly you go and look at the sale. I've been gradually withdrawing from this platform as loans are repaid because of this. I had high hopes for LI but find the frustration has put me off them. It'd e nice if they introduced an Autolend feature on secondary loans, but as the secondary market sales go so quickly I don't suppose it's worth their while. I think one has to see it as a small site that adds some high risk/high return loans to ones overall portfolio. You can't get diversified just on this platform, and given the rarity and difficulty in getting decent SM chunks it's necessary to be patient and get big chunks of all new offerings. It causes too a problem with cash drag in the ISA, but now that is flexible so at least one can find a (taxed) home for spare cash in between offers. On the flipside, liquidity is as good as it gets.
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Post by Deleted on Apr 25, 2018 13:10:38 GMT
Someone's bot working well today, things are selling the instant they are listed This drives me bonkers. Real people just can't get a look-in no matter how quickly you go and look at the sale. I've been gradually withdrawing from this platform as loans are repaid because of this. I had high hopes for LI but find the frustration has put me off them. It'd e nice if they introduced an Autolend feature on secondary loans, but as the secondary market sales go so quickly I don't suppose it's worth their while. Hi xtab, A liquid secondary market is in my view an indication of a healthy loan book (we had periods where loan parts were not purchased immediately) but I understand your frustration. We're working hard to introduce new loans that meet our criteria but it is a very competitive market with lots of mines to avoid. Regards, Filip
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markyg61
Member of DD Central
Posts: 339
Likes: 237
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Post by markyg61 on Apr 25, 2018 14:38:35 GMT
Someone's bot working well today, things are selling the instant they are listed I also find this frustrating. How about adding some sort of captcha code for the SM ? That should slow down the bots and give us mere mortals a chance
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Post by Deleted on Apr 26, 2018 10:47:05 GMT
Someone's bot working well today, things are selling the instant they are listed I also find this frustrating. How about adding some sort of captcha code for the SM ? That should slow down the bots and give us mere mortals a chance Hi markyg61, I do not believe that a captcha function would do much to prevent buying - we know who the buyers are and monitor our access logs regularly. It is currently a seller's market, but this could change depending on general loan availability, loan book health etc. Regards, Filip
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Post by Deleted on Apr 27, 2018 9:13:14 GMT
Hi Filip The loan filled pretty quickly on Saturday. Any idea when the next loan is going live?
Hi rs, We have one loan in legals (second charge BTL secured over a flat in Central London with a three year loan term). The target completion date is end of this month and we should know more shortly when the loan could be made available (if at all) and I will update accordingly. Regards, Filip Hi all, The earliest that the loan could be made available for investment is now end of the next week. There are currently no other loans in the pipeline (several loan offers have been made though and we are awaiting acceptance of the offer(s) prior to proceeding). I will provide a further update in the next week. Have a good weekend. Regards, Filip
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Post by Deleted on May 2, 2018 10:27:20 GMT
Hi rs, We have one loan in legals (second charge BTL secured over a flat in Central London with a three year loan term). The target completion date is end of this month and we should know more shortly when the loan could be made available (if at all) and I will update accordingly. Regards, Filip Hi all, The earliest that the loan could be made available for investment is now end of the next week. There are currently no other loans in the pipeline (several loan offers have been made though and we are awaiting acceptance of the offer(s) prior to proceeding). I will provide a further update in the next week. Have a good weekend. Regards, Filip Hi all, Just a quick update that we are preliminary preparing to make the BTL loan available for view next Monday and make it available for investment the day after (Tuesday). No investment restrictions will apply (loan amount is around £206k). Regards, Filip
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