dave4
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Post by dave4 on Jul 2, 2022 8:35:40 GMT
Launched for Reservation. The Ramparts, St George's Hill. Net forecast annual return 7.3% p.a. paid at the end of the term Total Amount being raised £8.4 million Estimated term 12-18 months (June - December 2023) LTV at exit (December 2023) 55% Loan Type Bridging Loan ISA Eligible 80% full
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Jul 2, 2022 8:36:45 GMT
#CH#RL3S HILL P#RK, F#RNH#M - BRIDGING LO#N launched 22/12/21 Availability. 85% full
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scooter
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Post by scooter on Jul 5, 2022 21:09:46 GMT
Hi,
Looking transfer some IFISA funds into new account. Can anyone tell me how long it might normally take to invest in 5 loans at £1k (I can see there are two available now, but will probably be gone by the time the trf takes place.
Anything i should know about CR that isn't immediatly obvious to a newbie?
thanks
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corto
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one-syllabistic
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Post by corto on Jul 5, 2022 21:46:09 GMT
The 2 available ones have not changed much over the last 2 weeks. They are both pretty large.
New loans perhaps one per month by gut feeling.
The IFISA is flexible; you don't need to keep the money in until something comes up.
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corto
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Post by corto on Jul 5, 2022 21:47:33 GMT
+
CR is not p2p
you are not even protected by the FCA
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Ace
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Post by Ace on Jul 5, 2022 23:57:30 GMT
Hi, Looking transfer some IFISA funds into new account. Can anyone tell me how long it might normally take to invest in 5 loans at £1k (I can see there are two available now, but will probably be gone by the time the trf takes place. Anything i should know about CR that isn't immediatly obvious to a newbie? thanks If you sign up and pledge to the available loans now and indicate that you will fund via an ISA transfer, CR will reserve your allocation until the transfer completes (CR are the only platform I'm aware of that do this). Hard to say how long it would take to get the other £3k allocated as loans are rather sporadic. My very rough guess would be about 1 loan per month. You can do a seperate ISA transfer for each loan when they come along.
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scooter
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Post by scooter on Jul 6, 2022 7:38:55 GMT
+ CR is not p2p you are not even protected by the FCA I think things must have changed CapitalRise Finance Limited is authorised and regulated by the Financial Conduct Authority, registration number 816789.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 6, 2022 11:25:03 GMT
+ CR is not p2p you are not even protected by the FCA I think things must have changed CapitalRise Finance Limited is authorised and regulated by the Financial Conduct Authority, registration number 816789. It's authorised for investments, ie the bonds it issues to lenders to refinance the loans made by UW to the SPVs, but not for regulated P2P lending ie article 36h operating an electronic platform. It is subject to a number of restrictions on its activities. I would not assume just because a platform has that statement it means what you think it means. Every platform that has gone bust displayed that ... even when they only had interim permission ... and many lenders have discovered it was meaningless when it came to scrutiny. All evidence is that CR are a good platform, probably inspire of being FCA authorised. Permissions are more important in terms of what they offer in terms of FOS, FSCs, loss relief etc.
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scooter
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Post by scooter on Jul 6, 2022 14:48:24 GMT
I think things must have changed CapitalRise Finance Limited is authorised and regulated by the Financial Conduct Authority, registration number 816789. It's authorised for investments, ie the bonds it issues to lenders to refinance the loans made by UW to the SPVs, but not for regulated P2P lending ie article 36h operating an electronic platform. It is subject to a number of restrictions on its activities. I would not assume just because a platform has that statement it means what you think it means. Every platform that has gone bust displayed that ... even when they only had interim permission ... and many lenders have discovered it was meaningless when it came to scrutiny. All evidence is that CR are a good platform, probably inspire of being FCA authorised. Permissions are more important in terms of what they offer in terms of FOS, FSCs, loss relief etc. It says I can complain to the FOS..... With the power, understanding and determination of them behind me I feel mighty..... Tongue in cheek emoji...
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scooter
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Post by scooter on Jul 13, 2022 22:15:14 GMT
#CH#RL3S HILL P#RK, F#RNH#M - BRIDGING LO#N launched 22/12/21 Availability. 85% full I am just dipping my toe in the water and before I invest in this one, I wondered whether we are being led to believe that interest rates will be falling again by late 2024. I am far from expert on interest rates (or anything really) , but the other loan is 7.3% until Dec 23 assuming paying on time, but this one is only 7% until Nov 24. I realise there are other factors of risk in play, but as penalty interest wouldn't kick in until Jan 26 and a sale fee would take the rate even lower, does the rate seem a bit low to anyone else, or is there a school of thought that interst rates will not keep rising into next year .... Any knowledge / thoughts would be welcome
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Post by overthehill on Jul 14, 2022 20:58:11 GMT
I am just dipping my toe in the water and before I invest in this one, I wondered whether we are being led to believe that interest rates will be falling again by late 2024. I am far from expert on interest rates (or anything really) , but the other loan is 7.3% until Dec 23 assuming paying on time, but this one is only 7% until Nov 24. I realise there are other factors of risk in play, but as penalty interest wouldn't kick in until Jan 26 and a sale fee would take the rate even lower, does the rate seem a bit low to anyone else, or is there a school of thought that interst rates will not keep rising into next year .... Any knowledge / thoughts would be welcome
Developer has more skin in the game, LTV at exit is only 50%, lower than normal. A recent loan at 65% LTV was 7.2%. There is a good risk rating summary at the end of each loan document but maybe you can't see other loans.
I think you're in the right area though, all the main p2p lenders in the forum are playing the same game called 'what interest rate rises?'. It's the ones with no SM like Crowdproperty that you need to be wary of, Capitalrise does.
There is another loan tomorrow.
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scooter
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Post by scooter on Jul 14, 2022 21:46:24 GMT
I am just dipping my toe in the water and before I invest in this one, I wondered whether we are being led to believe that interest rates will be falling again by late 2024. I am far from expert on interest rates (or anything really) , but the other loan is 7.3% until Dec 23 assuming paying on time, but this one is only 7% until Nov 24. I realise there are other factors of risk in play, but as penalty interest wouldn't kick in until Jan 26 and a sale fee would take the rate even lower, does the rate seem a bit low to anyone else, or is there a school of thought that interst rates will not keep rising into next year .... Any knowledge / thoughts would be welcome
Developer has more skin in the game, LTV at exit is only 50%, lower than normal. A recent loan at 65% LTV was 7.2%. There is a good risk rating summary at the end of each loan document but maybe you can't see other loans.
I think you're in the right area though, all the main p2p lenders in the forum are playing the same game called 'what interest rate rises?'. It's the ones with no SM like Crowdproperty that you need to be wary of, Capitalrise does.
There is another loan tomorrow.
I think I will give this one a miss. I would rather chance getting higher interest or even the same interest on a shorter term loan. You're right I can only see current loans. The more I look to other platforms the better I think Proplend is. It seems very odd to me that there is a range for the end date, followed by a year or so until a hard end, which is all still at the same interest rate and even then penalty interest does not kick in for another couple of months... I have to diversify or I will have to give myself a good kicking so I will give it a go, but at the moment I don't think I will become a big investor. The borrowers bother me a bit too, I mean they have so much money already I would have thought they had better options for borrowing. Thanks for your thoughts.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 14, 2022 22:48:34 GMT
I am just dipping my toe in the water and before I invest in this one, I wondered whether we are being led to believe that interest rates will be falling again by late 2024. I am far from expert on interest rates (or anything really) , but the other loan is 7.3% until Dec 23 assuming paying on time, but this one is only 7% until Nov 24. I realise there are other factors of risk in play, but as penalty interest wouldn't kick in until Jan 26 and a sale fee would take the rate even lower, does the rate seem a bit low to anyone else, or is there a school of thought that interst rates will not keep rising into next year .... Any knowledge / thoughts would be welcome
Developer has more skin in the game, LTV at exit is only 50%, lower than normal. A recent loan at 65% LTV was 7.2%. There is a good risk rating summary at the end of each loan document but maybe you can't see other loans.
I think you're in the right area though, all the main p2p lenders in the forum are playing the same game called 'what interest rate rises?'. It's the ones with no SM like Crowdproperty that you need to be wary of, Capitalrise does.
There is another loan tomorrow.
Day 1 LTV 70%+ though, rising to up to 130% depending on impact of J curve affect, not accounting for WIP which experience shows if it goes pear shaped isnt worth anything. Bit surprised they dont provide the valuation (at least not that I can see)
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Post by overthehill on Jul 15, 2022 8:31:50 GMT
Developer has more skin in the game, LTV at exit is only 50%, lower than normal. A recent loan at 65% LTV was 7.2%. There is a good risk rating summary at the end of each loan document but maybe you can't see other loans.
I think you're in the right area though, all the main p2p lenders in the forum are playing the same game called 'what interest rate rises?'. It's the ones with no SM like Crowdproperty that you need to be wary of, Capitalrise does.
There is another loan tomorrow.
I think I will give this one a miss. I would rather chance getting higher interest or even the same interest on a shorter term loan. You're right I can only see current loans. The more I look to other platforms the better I think Proplend is. It seems very odd to me that there is a range for the end date, followed by a year or so until a hard end, which is all still at the same interest rate and even then penalty interest does not kick in for another couple of months... I have to diversify or I will have to give myself a good kicking so I will give it a go, but at the moment I don't think I will become a big investor. The borrowers bother me a bit too, I mean they have so much money already I would have thought they had better options for borrowing. Thanks for your thoughts.
CR's loans aren't usually short due to the type of projects, high standard and high value which they need to get right. Not your 10 semi-detached with mass produced materials and grass that dies after 3 months. They started doing bridging loans which are replaced with dev loans within a year.
I haven't seen any loans higher than 7.5% but they did used to be higher.
I haven't paid too much attention to what happens if the loan contract hits the skids, I probably should but its hard to know exactly what it would mean in practice. I'm not expecting full interest from any dev loan anywhere when it reaches that stage.
I can't believe Proplend is still going under the radar, type of loans, quality of loans picked, the tranche system, their returns record and for Tranche A almost a zero risk of losses in any unlikely administration. The rates are poor at the moment but I'm expecting more diverse higher risk loans in the future.
Development loans have risks everywhere you look, what is the lowest rate available for a borrower ? I'm sure p2p rates are still better than banks with massive intimidating legal depts.
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scooter
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Post by scooter on Jul 15, 2022 19:30:54 GMT
Launched for Reservation. The Ramparts, St George's Hill. Net forecast annual return 7.3% p.a. paid at the end of the term Total Amount being raised £8.4 million Estimated term 12-18 months (June - December 2023) LTV at exit (December 2023) 55% Loan Type Bridging Loan ISA Eligible 80% full I have just made my first investments and read all the information provided. I asked 3 questions: 3 questions, 4 mistakes! They say it was correct in the bond, but the marketing material is what you read to make decisions. I'm not at all impressed. I have read the following statement over and over and I cannot see how the date in the case of " The Ramparts" is May 23. " Investments can be posted at any point up until one month prior to the end of the range of the estimated end date (in this case May 2023)."
It was wrong and they have corrected it to say the "beginning of the range" I noted the security includes a Cost overrun Guarantee - is this the same as the 6-month buffer below? "Your investment includes a 6-month buffer from the end of the estimated term (from December 2023) in the event that there is a delay past the estimated end date" It should have said "12 month buffer" and there is no cost overrun guarantee!
Which is it, 7.3% in March 25 or 9.3%…?
"Should the bonds be repaid after the hard stop date (December 2024), late payment interest beings to accrue and will be calculated as follows; at the rate of 7.30% p.a. (December 2024 - March 2025) increasing to 9.30% p.a. after 33 months (from March 2025)." It should say 28th Mar, so pretty much April then!
Is this effectively saying:
the same interest rate of 7.3% that has been paid from the beginning will continue right through until End Feb 2025? on the 1st March 2025 penalty interest of 9.3% will accrue.
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