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Post by spectra on Oct 23, 2017 21:02:25 GMT
wonder where it will pop up next and at what %age. FS at 13% would be my bet, perhaps someone would care to run a poll?
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Oct 23, 2017 21:39:47 GMT
wonder where it will pop up next and at what %age. FS at 13% would be my bet, perhaps someone would care to run a poll? Albrate all the way! 14%.
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copacetic
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Post by copacetic on Oct 23, 2017 22:06:37 GMT
I'm wondering if, as p2p becomes more mainstream, some borrowers are going to be put off by the thought of thousands of investors combing through their old business dealings and personal lives online and discussing it publicly. The social media generation might be ok with it but I know it would put me off borrowing if I could find a similar loan rate from a high street lender (not that I have much to hide, just wouldn't want you lot all investigating me! ). It could be a contributing factor to the low flow of good quality loans that seems to be available on any platform at the moment.
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GeorgeT
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Post by GeorgeT on Oct 23, 2017 22:59:46 GMT
I'm wondering if, as p2p becomes more mainstream, some borrowers are going to be put off by the thought of thousands of investors combing through their old business dealings and personal lives online and discussing it publicly. The social media generation might be ok with it but I know it would put me off borrowing if I could find a similar loan rate from a high street lender (not that I have much to hide, just wouldn't want you lot all investigating me! ). It could be a contributing factor to the low flow of good quality loans that seems to be available on any platform at the moment. Not directed at you - but I think if a borrower could get finance from a High St lender they wouldn't be going to P2P lenders in the first place and exposing themselves and their plans to semi-public scrutiny. Even if the interest rate was comparable you would go down the more anonymous route, as you suggest. I know some platforms will say people do because they are leaner and can turn things around quicker for borrowers but I think there are many examples across many platforms of borrowers who would simply not be entertained by more mainstream lenders because of their backgrounds.
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registerme
Member of DD Central
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Post by registerme on Oct 24, 2017 0:56:57 GMT
I'm wondering if, as p2p becomes more mainstream, some borrowers are going to be put off by the thought of thousands of investors combing through their old business dealings and personal lives online and discussing it publicly. The social media generation might be ok with it but I know it would put me off borrowing if I could find a similar loan rate from a high street lender (not that I have much to hide, just wouldn't want you lot all investigating me! ). It could be a contributing factor to the low flow of good quality loans that seems to be available on any platform at the moment. Not directed at you - but I think if a borrower could get finance from a High St lender they wouldn't be going to P2P lenders in the first place and exposing themselves and their plans to semi-public scrutiny. Even if the interest rate was comparable you would go down the more anonymous route, as you suggest. I know some platforms will say people do because they are leaner and can turn things around quicker for borrowers but I think there are many examples across many platforms of borrowers who would simply not be entertained by more mainstream lenders because of their backgrounds. (Very) simply put banks borrow at x (pretty much 0 as far as we are concerned currently), lend at y, and the difference needs to cover their costs z (including the cost of their capital, which is mind boggling). The delta being reinvested or returned to investors. P2P platforms have relatively higher borrowing costs (what they pay you and me) ie x, lend at y, and should have much, much, much lower costs, z. The delta being reinvested or returned to investors. There's all sorts of things skewing the picture at the moment though, from effectively zero rates through QE to banks being paid to not lend (leave aside discussions about fiat money etc). Questions remain about whether it's a scalable model, origination volumes, risk management, operational risk, whether those costs are as comparatively low as they could / should be, what happens if and when banks return to sectors they've abandoned...... Does it work? I think it should. I certainly hope so .
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agent69
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Post by agent69 on Oct 24, 2017 3:18:45 GMT
FS at 13% would be my bet, perhaps someone would care to run a poll? Albrate all the way! 14%. AC at 8%?
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Nomad
Member of DD Central
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Post by Nomad on Oct 24, 2017 6:30:18 GMT
Hmm, where ever this loan eventually eventually turns up and at what ever offered interest rate it will still remain at its 'core' the same loan offer with the self same set of intrinsic concerns attached, concerns which have been expressed throughout this thread by not by just one but by many, the self same concerns so well summarised by GeorgeT in his post above. George's post can be found here: p2pindependentforum.com/post/223923He speaks of risk and reward and he asks once again... ...How was the unaccounted for £1,200,000 spent by the borrower? A question which was posed multiple times but steadfastly ignored by MT, the borrower, and the sponsor...
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78
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Post by 78 on Oct 24, 2017 7:20:39 GMT
I urge lenders to be extremely careful when investing in loans sponsored by F******* **********. I asked questions about loans including P****** loans on Thincats and received no answers. I made a complaint and received this reply from F******** on the 26th july 2017.
Dear Mr Jones
F & P Sponsors Ltd are not regulated by the FCA and are outside any Ombudsman scheme. We are not required to have a complaints procedure.
May I suggest that if you have a complaint against us that you submit this in writing to ThinCats and follow their complaints procedure. We will respond to ThinCats as required and will not respond directly to you.
Regards
Deborah Conway
There remain many unanswered questions re P******** group companies. Hopefully Mr Freedman will now contact me directly and answer my outstanding questions. If he does I will post here but don't hold your breath.
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m2btj
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Post by m2btj on Oct 24, 2017 8:34:16 GMT
I urge lenders to be extremely careful when investing in loans sponsored by F******* **********. I asked questions about loans including P****** loans on Thincats and received no answers. I made a complaint and received this reply from F******** on the 26th july 2017. Dear Mr Jones F & P Sponsors Ltd are not regulated by the FCA and are outside any Ombudsman scheme. We are not required to have a complaints procedure. May I suggest that if you have a complaint against us that you submit this in writing to ThinCats and follow their complaints procedure. We will respond to ThinCats as required and will not respond directly to you. Regards Deborah Conway There remain many unanswered questions re P******** group companies. Hopefully Mr Freedman will now contact me directly and answer my outstanding questions. If he does I will post here but don't hold your breath. A quick look at F&P website reveals that they may have facilitated the loan for D**** F*** E****** W****. I have no objection to brokers acting for clients as long as their loan proposal is honest, comprehensive & fact based. VR's & borrower backgrounds are going to come under increasing scrutiny from potential investors using forums such as this.
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archie
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Post by archie on Oct 24, 2017 8:42:21 GMT
All loans on MT prefixed FP are via F&P.
Their responsibility would be to the platform rather than an individual lender.
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