empirica
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Post by empirica on Jan 25, 2018 20:18:53 GMT
Got some funds tied up in this that could possibly be better used elsewhere. What's the update on this please?
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elliotn
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Post by elliotn on Jan 26, 2018 2:41:59 GMT
Got some funds tied up in this that could possibly be better used elsewhere. What's the update on this please? Better than 'risk free' 12%*? This loan is for six months**. * subject to platform risk (accrued interest, not segregated capital). ** secondary market does allow access to capital if your financial circumstances change - in normal market conditions - but at penalty of lost interest.
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Post by Collateral Rep on Jan 26, 2018 10:04:54 GMT
Hi empirica, This loan is expected to drawdown next week. We've added this update to the loan listing. Many thanks, Gordon
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empirica
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Post by empirica on Jan 28, 2018 21:50:18 GMT
Hi empirica, This loan is expected to drawdown next week. We've added this update to the loan listing. Many thanks, Gordon Thank you. With over £260,000 remaining on loan '3 of 4' how does that work, please? Will Collateral make up the shortfall? Or does the borrower only receive what's been lent?
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empirica
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Post by empirica on Jan 28, 2018 21:54:08 GMT
Got some funds tied up in this that could possibly be better used elsewhere. What's the update on this please? Better than 'risk free' 12%*? This loan is for six months**. * subject to platform risk (accrued interest, not segregated capital). ** secondary market does allow access to capital if your financial circumstances change - in normal market conditions - but at penalty of lost interest. Sorry. I suspect I'm missing some subtlety here but how can this possibly be 'risk free'?
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elliotn
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Post by elliotn on Jan 29, 2018 3:41:42 GMT
Better than 'risk free' 12%*? This loan is for six months**. * subject to platform risk (accrued interest, not segregated capital). ** secondary market does allow access to capital if your financial circumstances change - in normal market conditions - but at penalty of lost interest. Sorry. I suspect I'm missing some subtlety here but how can this possibly be 'risk free'? If the loan did not drawdown Coll would return your funds (segregated on a client account) with interest since bidding. The 1/4 million unfunded won't be filled by Coll (fca frown upon standalone platforms lending as that is additional platform risk - you just thanked cooling dude for helping to explain whether Coll have been lending or not as they already have a material new Dr/Cr on their last accounts) so they presumably have underwriters lined up or perhaps the borrower has accepted a reserve minimum. On a purely selfish note, given that the lender demand was not there for the whole loan, the return of funds may have helped fund the Bolton tranches and cleared the backlog on the SM a bit that elephantrosie has been bemoaning.
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empirica
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Post by empirica on Feb 1, 2018 21:27:21 GMT
Sorry. I suspect I'm missing some subtlety here but how can this possibly be 'risk free'? If the loan did not drawdown Coll would return your funds (segregated on a client account) with interest since bidding. The 1/4 million unfunded won't be filled by Coll (fca frown upon standalone platforms lending as that is additional platform risk - you just thanked cooling dude for helping to explain whether Coll have been lending or not as they already have a material new Dr/Cr on their last accounts) so they presumably have underwriters lined up or perhaps the borrower has accepted a reserve minimum. On a purely selfish note, given that the lender demand was not there for the whole loan, the return of funds may have helped fund the Bolton tranches and cleared the backlog on the SM a bit that elephantrosie has been bemoaning. Thank you. I think I remember Stephen Fry quoting some translation from classical literature of when Philip II of Macedon was out invading anything in the region that stood still for long enough. Turning his attention to Sparta, Philip sent a message along the lines of: "You are advised to surrender without delay, for if I win this war, I will destroy your farms, slay your people, and raze your city." The Spartans sent back a one word reply: "If". (And on an equally selfish note, I too am in loans that would benefit from getting some development funding.)
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elliotn
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Post by elliotn on Feb 2, 2018 1:30:57 GMT
Collateral Rep, SM availability on loans 2 & 4 although loan 3 remains unfilled by c235k.
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ingwer
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Post by ingwer on Feb 5, 2018 13:18:45 GMT
now only c. £149k to go as there have been some hefty nibbles today... maybe the withdrawal of the other cashback loans has diverted attention back here...
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Post by mrclondon on Feb 20, 2018 14:41:43 GMT
An investment of £23,375.32 today has filled the final tranche, and all four tranches are now available on the SM.
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seeingred
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Post by seeingred on Feb 20, 2018 15:01:58 GMT
Keeping the faith too - not immediately dumped onto the SM.
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elliotn
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Post by elliotn on Feb 20, 2018 15:07:08 GMT
Looks like that last bite was not a hold to term investment, guessing other investors still napping.
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seeingred
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Post by seeingred on Feb 20, 2018 15:15:58 GMT
Looks like that last bite was not a hold to term investment, guessing other investors still napping. Remove 'not'? Last bite 23,000. Only 2400 on the SM. Only loan 1 of 4 has a significant amount on the SM. Holding to term? Crossed with @new2p2p
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ingwer
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Post by ingwer on Feb 20, 2018 15:42:35 GMT
Looks like that last bite was not a hold to term investment, guessing other investors still napping. I dreamt it was re-paid on time. Zzzzzz
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elliotn
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Post by elliotn on Feb 21, 2018 0:25:00 GMT
Looks like that last bite was not a hold to term investment, guessing other investors still napping. Remove 'not'? Last bite 23,000. Only 2400 on the SM. Only loan 1 of 4 has a significant amount on the SM. Holding to term? Crossed with @new2p2p If that was not the loan in case, then consider removed.
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