littleoldlady
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Post by littleoldlady on Mar 12, 2019 8:44:02 GMT
Have there been any losses on this platform? If not I suggest that you highlight this fact on the site. If there have been some this should also be viewable.
Although all past loans seem to be shown under "Completed Auctions" there is no indication of whether these have been repaid or what their status is. For example I opted out of the renewal of Bidstone Hill. Did it eventually repay?
@pennyrelendex how about putting up some loss statistics or better still a full history of all loans?
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Post by uksoul on Mar 12, 2019 12:12:13 GMT
Have there been any losses on this platform? If not I suggest that you highlight this fact on the site. If there have been some this should also be viewable. Although all past loans seem to be shown under "Completed Auctions" there is no indication of whether these have been repaid or what their status is. For example I opted out of the renewal of Bidstone Hill. Did it eventually repay? @pennyrelendex how about putting up some loss statistics or better still a full history of all loans? Their stats show no losses and according to 4th way the well respected p2p comparison website they have no losses to date. www.relendex.com/statistics
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
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Post by littleoldlady on Mar 12, 2019 12:41:59 GMT
Have there been any losses on this platform? If not I suggest that you highlight this fact on the site. If there have been some this should also be viewable. Although all past loans seem to be shown under "Completed Auctions" there is no indication of whether these have been repaid or what their status is. For example I opted out of the renewal of Bidstone Hill. Did it eventually repay? @pennyrelendex how about putting up some loss statistics or better still a full history of all loans? Their stats show no losses and according to 4th way the well respected p2p comparison website they have no losses to date. www.relendex.com/statisticsThanks uksoul however firstly the "monthly" report is from last year and secondly there is half a million "in recovery". It is easy to avoid crystallising a loss by kicking the can down the road indefinitely. I cannot see any easy way to get more info on this amount, but I see that, for example, for Portland Residential the senior tranche is marked as repaid whilst the junior tranche is current, so I assume that the loan is in some sort of trouble. More clarity would be welcome.
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Post by uksoul on Mar 12, 2019 13:12:18 GMT
Their stats show no losses and according to 4th way the well respected p2p comparison website they have no losses to date. www.relendex.com/statisticsThanks uksoul however firstly the "monthly" report is from last year and secondly there is half a million "in recovery". It is easy to avoid crystallising a loss by kicking the can down the road indefinitely. I cannot see any easy way to get more info on this amount, but I see that, for example, for Portland Residential the senior tranche is marked as repaid whilst the junior tranche is current, so I assume that the loan is in some sort of trouble. More clarity would be welcome. True, it's last year's report, well into 2019 so more recent figs would be appreciated. That half mill in recovery could well have been recouped by now so Relendex should update ASAP. I have invested in the JNR Portland Residential due to expire Jan 2020, is that the one you mean?
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Post by uksoul on Mar 12, 2019 15:56:49 GMT
Thanks uksoul however firstly the "monthly" report is from last year and secondly there is half a million "in recovery". It is easy to avoid crystallising a loss by kicking the can down the road indefinitely. I cannot see any easy way to get more info on this amount, but I see that, for example, for Portland Residential the senior tranche is marked as repaid whilst the junior tranche is current, so I assume that the loan is in some sort of trouble. More clarity would be welcome. True, it's last year's report, well into 2019 so more recent figs would be appreciated. That half mill in recovery could well have been recouped by now so Relendex should update ASAP. I have invested in the JNR Portland Residential due to expire Jan 2020, is that the one you mean? You could contact them direct for the latest stats as detailed ''Relendex believes in being transparent and open. Our monthly statistics are published here. If you have any questions, we are always available– why not send us an email. '
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 12, 2019 16:06:57 GMT
True, it's last year's report, well into 2019 so more recent figs would be appreciated. That half mill in recovery could well have been recouped by now so Relendex should update ASAP. I have invested in the JNR Portland Residential due to expire Jan 2020, is that the one you mean?You could contact them direct for the latest stats as detailed ''Relendex believes in being transparent and open. Our monthly statistics are published here. If you have any questions, we are always available– why not send us an email. ' When I looked a few hours ago I thought that the blue triangle in the photo for the senior loan said "Repaid", but it now says "Current" so either I am seeing things (quite possible) or they have changed it (possibly after reading my post?) Before I email them I want to be sure of my facts. Is it possible to get any information about non-performing loans from the site? Added later: The thread on the Greater Manchester loan is an eye opener.
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Post by uksoul on Mar 12, 2019 20:49:06 GMT
When I looked a few hours ago I thought that the blue triangle in the photo for the senior loan said "Repaid", but it now says "Current" so either I am seeing things (quite possible) or they have changed it (possibly after reading my post?)
Before I email them I want to be sure of my facts. Is it possible to get any information about non-performing loans from the site?
Added later: The thread on the Greater Manchester loan is an eye opener.
i checked it after you first posted and it showed current. They dont have info on non performing loans on the site. Yes the Greater Manchester loan thread interesting and gives pause for thought. Hopefully this gets resolved shortly but more importantly investors are kept uptodate.
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Post by pennyrelendex on Mar 15, 2019 11:25:26 GMT
Have there been any losses on this platform? If not I suggest that you highlight this fact on the site. If there have been some this should also be viewable. Although all past loans seem to be shown under "Completed Auctions" there is no indication of whether these have been repaid or what their status is. For example I opted out of the renewal of Bidstone Hill. Did it eventually repay? @pennyrelendex how about putting up some loss statistics or better still a full history of all loans? Hi littleoldladyA full history of loans is something we are working on being able to share with our Lenders when we launch our new platform. In the meantime, as uksoul has said, our Lender Support team are available to answer any of your questions directly, just drop them an email lender-support@relendex.com Alternatively, if you want to DM me questions and let me know your LD number, I'll get one of the team to contact you directly. You will appreciate we are restricted to what we can share in the open forum but FYR no losses to date is correct. Thanks! Penny
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mrsb
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Post by mrsb on Mar 15, 2019 13:32:37 GMT
Whilst there was no default, and capital was not at risk, it is the case that lenders lost interest on funds bid on a loan that didn't draw.
In that case, lenders missed out on approximately two months interest - which surely counts as a 'loss' for the purposes of Penny's statement.
Of course - we're grateful that your overriding consideration is to protect lenders funds from any and all imperfections in the borrower/security; by postponing draw down as necessary.
I'm sure all lenders would prefer this sort of loss in place of what the GMBL lenders may be having to swallow. I'm not in GMBL, it looked dire when I last was aware, is full recovery looking better now? Have the two properties both now been sold, if so, how much (%age) of the principle the proceeds covered would be a useful metric.
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tjtl
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Post by tjtl on Dec 5, 2019 17:13:22 GMT
Useful update on Evesham, London& Liverpool, Bridge House, and Clapham South loans received today. If anyone is a lender on these and hasn't received the updates let me know and I will forward (or you can get them from Relendex). They have improved their communications- and on these four loans (all of which have issues) Relendex appear to be taking a sensible, professional approach- money may be slow to be received, but their interests appear to be aligned with ours.
I will post a copy of this against the other loans.
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