stub8535
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Post by stub8535 on Jan 30, 2018 12:42:00 GMT
Having taken up the offer, open to anyone, once again, of an open meeting with Peter and Gordon today I am left reassured and excited with the future direction of the company.
I will shortly be accelerating my reversal of my previous decision to remove myself from the majority of the property loans as the changes start to filter through. My spare "cash pile" that has come off other platforms will find its way back here.
It is refreshing that two of the leadership team would take 3 hours direct contact to answer my questions frankly and listen to my responses. They asked my opinions on several items they have planned.
I hope that Gordon can come to either this thread and post some of the things that are fantastic and already in place to publicise them in the near future.
I would like to see further fanfare as other parts of their plans evolve rather than the information sneak out unnoticed.
From today's meeting I would have no hesitation in recommending the platform for new and existing investors.
If you want to know an answer to questions quickly and frankly then contact the office directly. I was stunned at how little direct contact is made by investors particularly given the levels of anguish we see in some loan threads generally (not referring to the latest issue which I am not getting involved with).
S
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stub8535
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Post by stub8535 on Jan 30, 2018 14:05:35 GMT
stub8535 , thanks for posting your experience - always good to hear the outcome of face-to-face contact. For me -- and, I suspect, the majority of lenders on Col -- the cost of visiting (travel and accommodation) are prohibitively high. As an alternative, I wonder if Col would be prepared to undertake periodic webinars which can be used to present their thoughts / responses to the burning issues of the day, as well as a platform from which to launch new developments? Questions could be raised here on a specific thread ahead of transmission. This would give Col the opportunity to prepare meaningful responses to curated questions, and those wishing to could engage in voice-driven discussion on particular subjects or their specific question. (Webinar platforms often have a dial-in facility for those without access to a computer-connected microphone.) Planned features can be showcased and even 'snap-reviewed' via a voting process. Col would get real-time responses to proposed features that are likely to make the greatest impact to the customer experience and can focus on those as a priority. Finally, most platforms will record the webinars, so those unable to make the live event can catch up afterwards. May be handy for those not in a GMT time-zone or just those with a social life Webinars are a low cost (and carbon friendly!) way of getting closer to customers without actually being in the same room. With P2P being largely synonymous with 'fintech', I'm a little surprised the technology isn't more widely used. Thoughts collateral / anybody? Sounds like a good idea new2p2p. Col staff will read this I am sure and consider the benefits. I am currently in the area visiting my mum in hospital so it's easy to set up a meeting. I know that Peter and Gordon have met up with investors when they are at shows and the like. A phone call is answered very frankly if anyone has any questions as I mention above.
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Post by davids on Jan 30, 2018 15:47:04 GMT
i think any contact between p2p business owners and investors would be beneficial, if they're willing to meet or answer peoples questions/ queries then it shows they care about us as investors, as without people investing they wouldn't make the money they do or survive as a business.
I'd be up for listening or watching webinars recorded, or even seeing them answer questions on here would help.
I like COL, pretty new to it so seeing how stuff goes over the coming months but i am looking to slowly increase the amount invested here.
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ingwer
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Post by ingwer on Jan 30, 2018 15:59:16 GMT
The fact that COL was willing to engage on this platform was instrumental in my decision to leave another p2p site that will not engage and move funds to invest with COL.
As COL also engage in face to face meetings this is also to be highly praised.
There does seem to be some kind of a swing away from p2p across the board but I am not clear why. Finding another haven is not that obvious to me.
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kermie
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Post by kermie on Jan 30, 2018 21:43:50 GMT
stub8535, appreciate that. Without divulging anything commercially sensitive that you may have been privy to, are you able to expand on why you've had a change of heart and are now moving back into COL? For example, was there aspects of the loan origination process, duedil, monitoring or recoveries processes that particularly surprised or impressed?
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stub8535
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Post by stub8535 on Jan 30, 2018 23:33:12 GMT
stub8535, appreciate that. Without divulging anything commercially sensitive that you may have been privy to, are you able to expand on why you've had a change of heart and are now moving back into COL? For example, was there aspects of the loan origination process, duedil, monitoring or recoveries processes that particularly surprised or impressed? Hi Kermie. I wish I could shout things out but asked them to release the brilliant changes they have already made in an e mail to all registered lenders and stop being so damned reserved and English about it. I never thought I would write these words but they should shout/ boadt/ market like Lendy, and another platform I just can't bring myself to name but they post bs daily on Twitter and fb. I would say ozboy may be pleasantly surprised going forwards and may be able to sell his hobby horse.šš¦ Ideas were discussed with a very robust, at times, exchange of views. I do not hold back if I think something is flawed. I have my hobby horse too. My view is that after a year of property loans they are now certain about how to grow their business sustainably. They are looking at what is needed to be the best platform in their chosen area. I was happy to point to "good practice" elsewhere as a starting point. They cannot make all the people happy all the time though. The interaction is nothing that any lender would not be able to glean for themselves by spending some time talking directly to Peter or Gordon on the phone. I hope announcements will come quickly as things firm up.
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dermot
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Post by dermot on Jan 31, 2018 22:30:24 GMT
The fact that COL was willing to engage on this platform was instrumental in my decision to leave another p2p site that will not engage and move funds to invest with COL. As COL also engage in face to face meetings this is also to be highly praised. There does seem to be some kind of a swing away from p2p across the board but I am not clear why. Finding another haven is not that obvious to me. Col is now my second largest (by a small margin) P2P platform with a mid-five figure investment. I joined Col in the "bling" heyday, and still very much regret that disappearing from the platform. I've reduced my exposure on Col by around 10% recently (only in property loans), not because I have any specific concerns about Col, just that I really do not trust the valuations on which loans are based, across the entire P2P industry. I wait in hope for a platform to take action against a valuer who has produced a wildly unrealistic figure. I've recently had loans defaulted / suspended on LY and MT where it is evident that the valuations are far too optimistic. Doesn't it seem like magic that valuations always come in such that the required loan amount always hits 70% of the value? One might almost think that a prospective borrower stated the required loan amount and the valuer colluded in producing a valuation figure 43% higher! Or am I being cynical?
I am much heartened by the report of this visit and my confidence in Col remains quite high - the only default (the vehicles) so far was handled in an exemplary fashion, but an unfinished development is doubtless harder to bring to a successful conclusion. Even so, I think I'll wait to see how my handful of Col property loans due to repay in the next few weeks turn out, before adding new funds to the platform, though I may reinvest some of tomorrows interest. Of course, I'd think again if there were a few more new bling (or even luxury car) loans to leaven the mix, as that would help to satisfy my appetite for risk.
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GeorgeT
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Post by GeorgeT on Feb 1, 2018 11:23:21 GMT
I think Peter and Gordon were a 60s singing act. I wondered what they did when the hits dried up.
I must say it's reassuring that the Collateral Chiefs are willing to set aside their time to chinwag with us humble investors. This is an opportunity I would be only too pleased to accept apart from the fact that it looks to me as though these guys are in Manchester and I am in the south and it's quite a long way to go and costly travel for a meeting and would probably use up several days of my interest in travel cost.
In the absence of that I find myself not knowing what Peter and Gordon look like. LY bigwigs are very keen to get their boat races all over the news and internet and although MT is a much more understated, demure and classy operation, nevertheless the main man does have his photograph on the website. I wonder if Peter and Gordon could find the time to append small images of their good selves to the website in order that those who cannot meet them personally can envisage such a circumstance with more reality.
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stub8535
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Post by stub8535 on Feb 1, 2018 11:42:27 GMT
I think Peter and Gordon were a 60s singing act. I wondered what they did when the hits dried up. I must say it's reassuring that the Collateral Chiefs are willing to set aside their time to chinwag with us humble investors. This is an opportunity I would be only too pleased to accept apart from the fact that it looks to me as though these guys are in Manchester and I am in the south and it's quite a long way to go and costly travel for a meeting and would probably use up several days of my interest in travel cost. In the absence of that I find myself not knowing what Peter and Gordon look like. LY bigwigs are very keen to get their boat races all over the news and internet and although MT is a much more understated, demure and classy operation, nevertheless the main man does have his photograph on the website. I wonder if Peter and Gordon could find the time to append small images of their good selves to the website in order that those who cannot meet them personally can envisage such a circumstance with more reality. georget I understand the travel cost issue, as do the guys at col. If I was not travelling to family in the area it would not be of value for me to visit, on a purely financial basis, either. They have met investors at shows, both in the show and in the evening, before now. I think that, should you call them, they would let you know if they plan to be somewhere more convenient for you this season and set up a meeting. Col indicate that they have put invitations to things up before bit have not had any response. I have suggested they look at where they posted the invites and look to do something more effective as I had missed all prior invites bar 1. @gordon maybe look to place the show dates and times where you will be exhibiting/ visiting, once confirmed, in the same way as the renewals etc? Include instructions on how investors can set meetings up on the notifications.
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stub8535
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Post by stub8535 on Feb 2, 2018 9:24:50 GMT
... I've reduced my exposure on Col by around 10% recently (only in property loans), not because I have any specific concerns about Col, just that I really do not trust the valuations on which loans are based, across the entire P2P industry. I wait in hope for a platform to take action against a valuer who has produced a wildly unrealistic figure. I've recently had loans defaulted / suspended on LY and MT where it is evident that the valuations are far too optimistic. Doesn't it seem like magic that valuations always come in such that the required loan amount always hits 70% of the value? One might almost think that a prospective borrower stated the required loan amount and the valuer colluded in producing a valuation figure 43% higher! Or am I being cynical?
... I donāt think there is collusion. Itās more either that the actual loan amount was dictated by the valuation or that the valuer was told the maximum LTV and just satisfied themselves that the value was āat leastā the value required and stated that minimum. I extended my mortgage a while back and the āvalueā ascribed to our house was exactly the minimum value required to provide the borrowing we wanted. On the collusion front referring to valuations on other platforms then I agree that it seems to have happened. It has been confirmed via implication that this happened regularly in the past where the borrower sought out the valuers. It still may happen on the two quoted platforms but I don't know having divested from them, as far as I could, some time ago. Col have different processes that would not let this through.
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oik
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Post by oik on Feb 2, 2018 15:00:32 GMT
I wonder if Peter and Gordon could find the time to append small images of their good selves to the website in order that those who cannot meet them personally can envisage such a circumstance with more reality. Collateral are listed as exhibitors at the "UK Investor Show" at Queen Elizabeth II Centre, in Westminster, 21 April. I expect they'd be pleased to say hello. The greatest show on earth according to the organiser's hype: www.ukinvestorshow.com/exhibitors/. PM me anyone who wants a code for free tickets.
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stevio
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Post by stevio on Feb 2, 2018 23:27:21 GMT
stub8535 , thanks for posting your experience - always good to hear the outcome of face-to-face contact. For me -- and, I suspect, the majority of lenders on Col -- the cost of visiting (travel and accommodation) are prohibitively high. As an alternative, I wonder if Col would be prepared to undertake periodic webinars which can be used to present their thoughts / responses to the burning issues of the day, as well as a platform from which to launch new developments? Questions could be raised here on a specific thread ahead of transmission. This would give Col the opportunity to prepare meaningful responses to curated questions, and those wishing to could engage in voice-driven discussion on particular subjects or their specific question. (Webinar platforms often have a dial-in facility for those without access to a computer-connected microphone.) Planned features can be showcased and even 'snap-reviewed' via a voting process. Col would get real-time responses to proposed features that are likely to make the greatest impact to the customer experience and can focus on those as a priority. Finally, most platforms will record the webinars, so those unable to make the live event can catch up afterwards. May be handy for those not in a GMT time-zone or just those with a social life Webinars are a low cost (and carbon friendly!) way of getting closer to customers without actually being in the same room. With P2P being largely synonymous with 'fintech', I'm a little surprised the technology isn't more widely used. Thoughts collateral / anybody? Good idea. Travel costs prohibit most Monthly Q&A via Skype or something would like to see
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stevio
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Post by stevio on Feb 2, 2018 23:29:28 GMT
I think Peter and Gordon were a 60s singing act. I wondered what they did when the hits dried up. I must say it's reassuring that the Collateral Chiefs are willing to set aside their time to chinwag with us humble investors. This is an opportunity I would be only too pleased to accept apart from the fact that it looks to me as though these guys are in Manchester and I am in the south and it's quite a long way to go and costly travel for a meeting and would probably use up several days of my interest in travel cost. In the absence of that I find myself not knowing what Peter and Gordon look like. LY bigwigs are very keen to get their boat races all over the news and internet and although MT is a much more understated, demure and classy operation, nevertheless the main man does have his photograph on the website. I wonder if Peter and Gordon could find the time to append small images of their good selves to the website in order that those who cannot meet them personally can envisage such a circumstance with more reality. georget I understand the travel cost issue, as do the guys at col. If I was not travelling to family in the area it would not be of value for me to visit, on a purely financial basis, either. They have met investors at shows, both in the show and in the evening, before now. I think that, should you call them, they would let you know if they plan to be somewhere more convenient for you this season and set up a meeting. Col indicate that they have put invitations to things up before bit have not had any response. I have suggested they look at where they posted the invites and look to do something more effective as I had missed all prior invites bar 1. @gordon maybe look to place the show dates and times where you will be exhibiting/ visiting, once confirmed, in the same way as the renewals etc? Include instructions on how investors can set meetings up on the notifications. Not giving anything away There must be specifics you can mention? Did you discuss existing stuff as well as new stuff?
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stub8535
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Post by stub8535 on Feb 3, 2018 0:16:45 GMT
georget I understand the travel cost issue, as do the guys at col. If I was not travelling to family in the area it would not be of value for me to visit, on a purely financial basis, either. They have met investors at shows, both in the show and in the evening, before now. I think that, should you call them, they would let you know if they plan to be somewhere more convenient for you this season and set up a meeting. Col indicate that they have put invitations to things up before bit have not had any response. I have suggested they look at where they posted the invites and look to do something more effective as I had missed all prior invites bar 1. @gordon maybe look to place the show dates and times where you will be exhibiting/ visiting, once confirmed, in the same way as the renewals etc? Include instructions on how investors can set meetings up on the notifications. Not giving anything away There must be specifics you can mention? Did you discuss existing stuff as well as new stuff? Similar things were discussed as were talked about, and reported, on the longer first visit. This was a personal meeting and not one set for questions from the forum to be asked and answered by report. All areas discussed would be available to any current investor who cares to ring up and ask questions that are burning for your circumstances. That is what this meeting was. stevio I understand that you, and other investors, potential or otherwise, want the data and I would like to pass it all on but it must come from Collateral staff themselves when they are ready to announce things on a public forum and not me. S
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elliotn
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Post by elliotn on Feb 3, 2018 5:25:52 GMT
Not giving anything away There must be specifics you can mention? Did you discuss existing stuff as well as new stuff? Similar things were discussed as were talked about, and reported, on the longer first visit. This was a personal meeting and not one set for questions from the forum to be asked and answered by report. All areas discussed would be available to any current investor who cares to ring up and ask questions that are burning for your circumstances. That is what this meeting was. stevio I understand that you, and other investors, potential or otherwise, want the data and I would like to pass it all on but it must come from Collateral staff themselves when they are ready to announce things on a public forum and not me. S That limits the usefulness of this thread - is the main thrust thereās lots of interesting/confidence building measures lined up but we must contact Col ourselves to find out what they are (prior to any announcement)? Iām finding this thread a bit of a non-event and a little teasing. Or am I misunderstanding the threadās intent?
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