sirius
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Post by sirius on Nov 7, 2017 11:10:05 GMT
I am with georget on this one.
I did not like it on Ly and cannot see anything to make me want to change my mind, even with the 'improvements'..
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awk
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Post by awk on Nov 7, 2017 11:17:08 GMT
I can’t see this filling all 4 loans (£1.1m total) given the current rate of take up. 12% clearly isn’t enough !
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moist
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Post by moist on Nov 7, 2017 13:16:46 GMT
just wondering if the fact its a lendy loan is causing issues..... not exactly flavour of the month are they
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Post by Badly Drawn Stickman on Nov 7, 2017 14:14:50 GMT
just wondering if the fact its a lendy loan is causing issues..... not exactly flavour of the month are they I would think there is at least an element of 'tainted by association' at play. I suppose also several of us will have money in the lendy loan, that will not be released until this draws down, that is always a slight problem. I think if it was a 'clean' loan with no history, it would be proving quite popular. I think there may also be a school of thought that Collateral are trying to run without really mastering walking first, but maybe that's a different issue.
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elliotn
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Post by elliotn on Nov 7, 2017 15:00:18 GMT
just wondering if the fact its a lendy loan is causing issues..... not exactly flavour of the month are they GeorgeT has called time on Ly and this loan, so quite possible.
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dermot
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Post by dermot on Nov 8, 2017 3:05:58 GMT
I'll bung a bit in when this month's interest run is done, but have hit my bling-to-property ratio for CO so not really putting much new cash into the platform until some more bling loans appear.
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jcm9000
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Post by jcm9000 on Nov 8, 2017 9:37:53 GMT
I’m not biting - perhaps because it is in the middle of nowhere. Mind you, it would be a shorter commute to my current to blantyre from Stirling..... i’m also rather aware of a certain other ‘eco-park’ in l********w....
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SteveT
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Post by SteveT on Nov 8, 2017 9:51:49 GMT
Unfortunately for COL, the use of Cashback incentives to fill previous large bridging loans casts a rather long shadow over new opportunities like this one. There is regular SM availability in several other better (IMO) 12% first-charge loans, ranking ahead of later 2nd-charge tranches, such as Darwen (BL00046), Burnley (BL00048), C**e Hall (BL00035) and even the mighty Bolton (BL00026) if you're watchful. And now that these loans are routinely getting extended (and will then, we've been assured, be resell-able without losing interest), their attraction continues...
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oik
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Post by oik on Nov 8, 2017 13:09:01 GMT
...We appreciate liquidity maybe an issue, so we have decided to reduce the loan amounts and split into 4 parts, (4 x £275,000) which we hope will also help the Secondary Market... Gordon The liquidity problem I see is that, if this loan is as unpopular as it seems, then any lender is liable to be locked in unless they're prepared to accept the indeterminate cost of putting it on the SM and possibly losing weeks/months of interest. For that reason I prefer to avoid any loan on Collateral that doesn't look too popular. And, with everything flying off the shelves at MT over the past week while this loan is barely touched, it doesn't look much loved. And now that these loans are routinely getting extended (and will then, we've been assured, be resell-able without losing interest), their attraction continues... Didn't see that announcement if there was one. That would be an improvement, but as it's a 12 month loan then being locked in for only a year before being able to exit without penalty doesn't really really do it.
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SteveT
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Post by SteveT on Nov 8, 2017 13:32:54 GMT
And now that these loans are routinely getting extended (and will then, we've been assured, be resell-able without losing interest), their attraction continues... Didn't see that announcement if there was one. That would be an improvement, but as it's a 12 month loan then being locked in for only a year before being able to exit without penalty doesn't really really do it. See here
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oik
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Post by oik on Nov 8, 2017 13:44:00 GMT
Thanks. I saw that post on 3 Nov saying they were looking at it rather than being an assurance and would update early this week. Has there been an update or confirmation?
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SteveT
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Post by SteveT on Nov 8, 2017 14:10:22 GMT
Thanks. I saw that post on 3 Nov saying they were looking at it rather than being an assurance and would update early this week. Has there been an update or confirmation? I take “I will update early next week with when this will be implemented” as a clear commitment to do it, once the coding changes are made.
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oik
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Post by oik on Nov 8, 2017 14:40:25 GMT
On re-reading it I'm sure you're right. Now perhaps they'll also consider the impact of not extending it on the take-up of less popular loans and whether having to pay cash-back and higher rates isn't more costly and cumbersome.
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GeorgeT
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Post by GeorgeT on Nov 8, 2017 17:27:55 GMT
Well I don't think this loan is going to fly.
The take up is trivial. It looks like it isn't going to be funded by a long way and I can't see how the bolt-on of a cashback will be enough to get it over the line.
A wily investor might see it as an opportunity for some super low risk 12% for a day or 3 because it seems to me that it will have to be withdrawn and investors will have netted a few days interest in the meantime while their cash sat safely in COL's client account.
I think COL is maybe trying to move into the big league a little too soon.
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Post by Badly Drawn Stickman on Nov 8, 2017 19:04:40 GMT
A wily investor might see it as an opportunity for some super low risk 12% for a day or 3 because it seems to me that it will have to be withdrawn and investors will have netted a few days interest in the meantime while their cash sat safely in COL's client account. A wily investor would first contact COL to see if they have underwriters lined up to cover the loan. If anybody gets to talk with 'wily investor', ask him if he can work out the reasoning behind listing all four loan parts at the same time.
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