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Post by webbski9 on Aug 2, 2019 9:29:23 GMT
Greenwood2...take your point
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Post by webbski9 on Aug 4, 2019 21:57:29 GMT
Has anyone here withdrawn money and, if so, how efficient was it ?
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Loanpad
Aug 5, 2019 8:32:49 GMT
via mobile
Post by gravitykillz on Aug 5, 2019 8:32:49 GMT
I have. Very efficient on a working day before 1pm.
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Loanpad
Aug 5, 2019 8:34:17 GMT
via mobile
Post by gravitykillz on Aug 5, 2019 8:34:17 GMT
If you do it over the weekend you will have to wait til Monday.
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Post by webbski9 on Aug 5, 2019 8:36:54 GMT
Many Thanks indeed
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Loanpad
Aug 12, 2019 20:12:24 GMT
via mobile
Post by zlb on Aug 12, 2019 20:12:24 GMT
Hi Loanpad. I wonder whether you can describe the sort of development finance that you offer. Is the stated LTV against the value of the property/site at that point in time, or the projected end value? Sorry if this has been covered, although I can't see it in this thread. I'm sure you can understand concern around this. Also, what proportion of your projects are development? Thanks. |
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Aug 13, 2019 6:55:01 GMT
My impressions are:
Mainly or exclusively residential
We seem to be taking part of an existing loan already made by a LP partner, at a lower rate of interest but with senior status. The senior lender is effectively gearing up his operation by increasing his liquidity. The risk he runs is that in the event of a partial return me may take the full amount of the loss. This gives me confidence that he will not take any risks with his lending
Example:senior lender has 100 capital which he can lend at 8% making 8 profit.
He hives off 40 to LP at 4% and lends that 40 at 8% making 3.2 profit, less 1.6 to LP so a total of 9.6, ie a 20% uplift. However anything less than a full repayment will soon wipe out that gain. Assuming that the partners are competent this would seem to be one of the safest platforms for p2p lenders, if not very exciting.
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Greenwood2
Member of DD Central
Posts: 4,385
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Post by Greenwood2 on Aug 13, 2019 11:37:55 GMT
My impressions are: Mainly or exclusively residential We seem to be taking part of an existing loan already made by a LP partner, at a lower rate of interest but with senior status. The senior lender is effectively gearing up his operation by increasing his liquidity. The risk he runs is that in the event of a partial return me may take the full amount of the loss. This gives me confidence that he will not take any risks with his lending Example:senior lender has 100 capital which he can lend at 8% making 8 profit. He hives off 40 to LP at 4% and lends that 40 at 8% making 3.2 profit, less 1.6 to LP so a total of 9.6, ie a 20% uplift. However anything less than a full repayment will soon wipe out that gain. Assuming that the partners are competent this would seem to be one of the safest platforms for p2p lenders, if not very exciting. Exciting I can live without, far too much 'excitement' on some platforms recently. 
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Post by Loanpad on Aug 13, 2019 12:03:13 GMT
Hi Loanpad . I wonder whether you can describe the sort of development finance that you offer. Is the stated LTV against the value of the property/site at that point in time, or the projected end value? Sorry if this has been covered, although I can't see it in this thread. I'm sure you can understand concern around this. Also, what proportion of your projects are development? Thanks. Hi zlb thanks for the message On development loans we typically use the pre-development value to calculate the headline LTV. There are also loans which we enter at the point the development is already (or mostly) completed, in which case we may use GDV for the headline LTV. In the loan summary a range of relevant LTVs are shown. Also, there are/will be bridging/business purpose loans but all secured on property using present day values.
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baldpate
Member of DD Central
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Post by baldpate on Aug 13, 2019 13:16:59 GMT
.... Also, what proportion of your projects are development? ... To add to to the answer which Loanpad gave (above) and to quantify it a bit:
Most of the loans, by number and value, are property development loans. Of the total 27 loans listed on the platform at the time of writing, 4 are Bridging loans and represent a tad less than 10% of the total Loanpad loanbook value ; all are coming to maturity in the next few months
The remaining 23 are Development loans of various sorts. I believe (from reading the downloadable Loan Reports) that 8 of these are single-tranche developments; some of these (single-tranche) developments should be so well advanced by now as to almost constitute development exit bridges. That leaves 15 'loans' which are in fact tranches of just 5 different multi-tranche development projects; together these make up around 55% by value of the total Loanpad loanbook.
The heavy weighting in these multi-tranche development loans is something that has arisen only over the last few months (my snapshot of the loanbook taken in April contains no multi-tranche developments). These loans have an obvious negative impact of diversification, which is not improving as rapidly as the rapidly increasing 'headline' loan count (27, up from 14 at the end of April) might suggest. IMO it is a trend to be carefully watched ; it is certainly a factor which is restraining my own investment in this platform, which I am otherwise very keen on
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Post by mrclondon on Aug 13, 2019 13:30:38 GMT
Its also worth noting that the 4th (and final) tranche of the latest loan went live today, taking the total for that loan to £500k, an increase beyond the previous £400k per loan limit mentioned by LP in a post a few months back.
That has for now increased my exposure to this one borrower beyond my limit, so I may be withdrawing funds from the platform to bring the max exposure back into line.
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zlb
Member of DD Central
Posts: 1,422
Likes: 333
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Loanpad
Aug 13, 2019 20:02:32 GMT
via mobile
Post by zlb on Aug 13, 2019 20:02:32 GMT
.... Also, what proportion of your projects are development? ... To add to to the answer which Loanpad gave (above) and to quantify it a bit:
Most of the loans, by number and value, are property development loans. Of the total 27 loans listed on the platform at the time of writing, 4 are Bridging loans and represent a tad less than 10% of the total Loanpad loanbook value ; all are coming to maturity in the next few months
The remaining 23 are Development loans of various sorts. I believe (from reading the downloadable Loan Reports) that 8 of these are single-tranche developments; some of these (single-tranche) developments should be so well advanced by now as to almost constitute development exit bridges. That leaves 15 'loans' which are in fact tranches of just 5 different multi-tranche development projects; together these make up around 55% by value of the total Loanpad loanbook.
The heavy weighting in these multi-tranche development loans is something that has arisen only over the last few months (my snapshot of the loanbook taken in April contains no multi-tranche developments). These loans have an obvious negative impact of diversification, which is not improving as rapidly as the rapidly increasing 'headline' loan count (27, up from 14 at the end of April) might suggest. IMO it is a trend to be carefully watched ; it is certainly a factor which is restraining my own investment in this platform, which I am otherwise very keen on
thank you. And to Loanpad and to mrclondon. Loanpad, what feedback do you have on this post above, and mrcLondon's about exposure concerns. Plus where is Loanpad aiming given the rate of change in loan project type. Thanks.
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Post by Loanpad on Aug 14, 2019 9:20:39 GMT
To add to to the answer which Loanpad gave (above) and to quantify it a bit:
Most of the loans, by number and value, are property development loans. Of the total 27 loans listed on the platform at the time of writing, 4 are Bridging loans and represent a tad less than 10% of the total Loanpad loanbook value ; all are coming to maturity in the next few months
The remaining 23 are Development loans of various sorts. I believe (from reading the downloadable Loan Reports) that 8 of these are single-tranche developments; some of these (single-tranche) developments should be so well advanced by now as to almost constitute development exit bridges. That leaves 15 'loans' which are in fact tranches of just 5 different multi-tranche development projects; together these make up around 55% by value of the total Loanpad loanbook.
The heavy weighting in these multi-tranche development loans is something that has arisen only over the last few months (my snapshot of the loanbook taken in April contains no multi-tranche developments). These loans have an obvious negative impact of diversification, which is not improving as rapidly as the rapidly increasing 'headline' loan count (27, up from 14 at the end of April) might suggest. IMO it is a trend to be carefully watched ; it is certainly a factor which is restraining my own investment in this platform, which I am otherwise very keen on
thank you. And to Loanpad and to mrclondon . Loanpad , what feedback do you have on this post above, and mrcLondon's about exposure concerns. Plus where is Loanpad aiming given the rate of change in loan project type. Thanks. Hi zlbIt takes time to grow the loanbook in order to increase diversification and reduce concentration risk. In order to mitigate this we are exceptionally conservative with the loans we add and (as you can see on the platform) the lending partner has an average of 66% of all loans as first loss. In the loan referred to above, it is over 75%. As the loanbook grows, it is inevitable that the maximum loan size will grow too but so will the level of diversification which all investors automatically benefit from - we hope to get that below 1% per loan in due course. There is no conscious change in type of loan project. There will be a mix of development/development exit, refurbishment, bridging, business. We are looking at ways to increase the level of information provided in the live data feed and this will probably be one of the areas added. If we’ve missed any question just let us know.
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nyneil
Member of DD Central
Posts: 349
Likes: 438
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Post by nyneil on Aug 21, 2019 19:24:11 GMT
I note that the LTV quoted on the summary page for multi tranche loans, only represents the LTV of that particular tranche and not the full exposure to the loan. For example loan 9713479 has three tranches, shown as 15.7% 10.5% & 15.7% which all seem wonderfully low, however the true exposure to the loan is 42% (the sum of all the tranches). This IS clearly stated in the loan PDF, but a cursory glance at the summary is misleading.
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Post by Loanpad on Aug 22, 2019 11:30:18 GMT
I note that the LTV quoted on the summary page for multi tranche loans, only represents the LTV of that particular tranche and not the full exposure to the loan. For example loan 9713479 has three tranches, shown as 15.7% 10.5% & 15.7% which all seem wonderfully low, however the true exposure to the loan is 42% (the sum of all the tranches). This IS clearly stated in the loan PDF, but a cursory glance at the summary is misleading. Hi nyneil yes that’s a fair point. We recently decided to change that to show the "total" LTV on the dashboard as opposed to individual tranche LTVs. So all tranches will show the same LTV and hopefully the change will be live before too long.
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