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Post by pedz14 on Nov 8, 2017 20:20:45 GMT
I think as it became obvious that the usual method of splitting the loan wasn't going to work that there was no point in holding the other parts back.
If there isn't an underwriter lined up I would hope it gets pulled quickly as non filling loans don't look good.
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stevio
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Post by stevio on Nov 8, 2017 21:53:58 GMT
Many observations of the loan not filling, not much talk of why personally not investing, is it the sheeple effect again I wonder? CO maybe wondering where the 350k'er is when they need him!
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edward
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Post by edward on Nov 8, 2017 21:55:50 GMT
But wily investor would hope it remains languishing for ages without getting filled
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hazellend
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Post by hazellend on Nov 8, 2017 21:58:58 GMT
Not investing in this but I do like it, just need to clear a tax bill first
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Post by westcountry on Nov 9, 2017 10:22:26 GMT
It's mainly that this loan is ex-Lendy which puts me off from investing.
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sirius
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Post by sirius on Nov 9, 2017 11:17:01 GMT
I will not invest as I believe that there are not enough people around prepared to pay such a high price for holiday homes such as this.
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Post by Collateral Rep on Nov 9, 2017 11:42:24 GMT
Hi sirius, There is a combination of holiday lets and residential homes. The price mentioned in the valuation is for the residential properties and not holiday lets. Many thanks, Gordon
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Post by Collateral Rep on Nov 9, 2017 12:35:20 GMT
Afternoon,
Re: BL00074-75-76-77 Eco Village, Scotland
With regards to the above loans, it's clear that the take up is slow. We've had conversations with the borrower and they have agreed to offer an incentive.
We have applied a Cashback incentive which will also apply to existing loan parts bought. The total loan parts bought over all 4 parts will be combined as one total and will receive the relevant cashback percentage.
For example if £12,500 was bought in each of the 4 parts it would total £50,000 and would receive 3% Cashback.
The following Cashback rates will apply.
Any purchase made whilst the Primary Market is active receives cashback.
Any purchase made whilst the Secondary Market is active, does not receive cashback.
Cashback will be paid to investors the day after drawdown.
For Investments of £0.00 - £4,999.99 - 0.25% Cashback For Investments of £5,000.00 - £9,999.99 - 0.5% Cashback For Investments of £10,000.00 - £24,999.99 - 1.0% Cashback For Investments of £25,000.00 - £49,999.99 - 2.0% Cashback For Investments of £50,000.00 - £99,999.99 - 3.0% Cashback For Investments of £100,000.00 + - 4.0% Cashback
As always your support is appreciated.
Many thanks,
Gordon
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greatmarko
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Post by greatmarko on Nov 9, 2017 12:59:23 GMT
... With regards to the above loans, it's clear that the take up is slow ...
Perhaps due in part because lenders would prefer some new bling offerings, rather than a stream of multi-part property loans?
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Post by valuehunter on Nov 9, 2017 13:04:14 GMT
I was on the fence with this one but the introduction of cashback means I'll be giving it a miss. As a SH 0.25% doesn't add enough value to compensate for the increased potential loss of liquidity throughout the duration of the loan.
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Post by Badly Drawn Stickman on Nov 9, 2017 13:16:55 GMT
I was on the fence with this one but the introduction of cashback means I'll be giving it a miss. As a SH 0.25% doesn't add enough value to compensate for the increased potential loss of liquidity throughout the duration of the loan. I suspect a few who have already invested will be unhappy with this distribution as well, cashback offered in this way has a detrimental effect on smaller investors (in this case smaller being <£10000). I think under the circumstances collateral should offer investors who bid before the alteration the option to withdraw. I would like this option in this case.
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Post by munchydave on Nov 9, 2017 13:22:49 GMT
All the cash back and higher and higher interest rates mean nothing when the loan defaults and we are told that the value of the property is a fraction of the figure given for the purpose of loan security. We have been down this road now so many times on several P2P platforms. It is simple. If the secured loan is covered by the value of the property then losses should be a very rare event. Investors will not invest if they have repeated losses due to overvalued property.
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dermot
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Post by dermot on Nov 9, 2017 14:12:37 GMT
Having reached my bling-to-property ratio of investing with CO, I've not put more than my usual low 3 figure diversification amount into this offering. I sold out of this on LY a few months back; not for a loan-specific reason, simply as part of my general exit from Lendy strategy (fortuitously with only less than £2K in Homer/Exeter left).
Apart from being tainted with the Curse of Lendy, any hard reasons why investors find this loan so unpopular?
Lacking more bling loans, I'm unlikely to be adding much extra funding to the platform as a whole, but might bung a bit of end of month interest into it - unless I decide to buy myself the long-delayed Christmas present of a 65" OLED tv instead.
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withnell
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Post by withnell on Nov 9, 2017 15:01:43 GMT
I was on the fence with this one but the introduction of cashback means I'll be giving it a miss. As a SH 0.25% doesn't add enough value to compensate for the increased potential loss of liquidity throughout the duration of the loan. I suspect a few who have already invested will be unhappy with this distribution as well, cashback offered in this way has a detrimental effect on smaller investors (in this case smaller being <£10000). I think under the circumstances collateral should offer investors who bid before the alteration the option to withdraw. I would like this option in this case. They invested in a 12% loan, and suddenly have an extra 0.25% cash boost - it is more beneficial to larger investors, but that doesn't make it detrimental to the smaller investor While there is clearly an advantage to a diversified investor base, from a cost perspective it's better for COL to have 1 investor putting in 50k than 100 putting in 500 quid, with all the associated account management and banking charges
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GeorgeT
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Post by GeorgeT on Nov 9, 2017 15:02:46 GMT
The way the Cashback is distributed seems to offer little to the smaller investor but is aimed at tempting a few big fishes.
I wouldn't decide to invest a little for the sake of a meagre 0.25% or 0.5% cashback. That won't comfort me when I find I'm stuck in the loan until the nervous end because few people like it enough to want to relieve me of the risk on the SM.
As I said previously, I don't think a bit of cashback will be enough to get this one filled. It certainly hasn't altered my position.
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