seb8072
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Post by seb8072 on Apr 3, 2019 15:27:20 GMT
It really doesn't look like there's much appetite for the A+ rated loan, only 18% filled after nearly a month. Could be the 6% rate.
Also, although your statement "We have over 1500 lenders who have participated on loans" may be factually correct, I suspect the number of active current lenders is less than a few hundred. Most of those 1500 lenders are probably still locked in unsellable non-performing loans, many of which have had no updates for almost a year.
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Post by df on Apr 4, 2019 15:28:26 GMT
It really doesn't look like there's much appetite for the A+ rated loan, only 18% filled after nearly a month. Could be the 6% rate.
Also, although your statement "We have over 1500 lenders who have participated on loans" may be factually correct, I suspect the number of active current lenders is less than a few hundred. Most of those 1500 lenders are probably still locked in unsellable non-performing loans, many of which have had no updates for almost a year.
I'm sure it is the rate. One can easily get 6% on RS or LW with PF protection. It was very obvious from the start that this loan had no chance to fill.
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Post by captainconfident on Apr 4, 2019 18:44:30 GMT
I do appreciate being asked so politely to take an interest. For me the interest rate offered was too low for the risk on offer. I see that there is a second A+ loan now up, with a starting rate of 8%. As 8% av. net is the return that less sophisticated investors like me have achieved on Rebs, I think this will be more viable.
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baldpate
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Post by baldpate on Apr 17, 2019 16:28:29 GMT
I notice that the max rate was raised to a very respectable 10% just over a week ago, yet the loan has still attracted barely a quarter of the required funding : and this despite the security on offer (1st charge over a residential property at an inital LTV of less than 20%, and that on a loan which is amortizing over 4 years). On several other self-select platform this would be perceived as a good proposition, and would be taken up quite quickly.
The problem does not lie with the loan parameters - it lies with the patent inability (or rather, I suspect, unwillingness) of this platform to put the necessary effort into the proper and active management of recoveries; as such, the true value of any offered security is moot.
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Post by gravitykillz on Apr 20, 2019 23:16:20 GMT
I notice that the max rate was raised to a very respectable 10% just over a week ago, yet the loan has still attracted barely a quarter of the required funding : and this despite the security on offer (1st charge over a residential property at an inital LTV of less than 20%, and that on a loan which is amortizing over 4 years). On several other self-select platform this would be perceived as a good proposition, and would be taken up quite quickly.
The problem does not lie with the loan parameters - it lies with the patent inability (or rather, I suspect, unwillingness) of this platform to put the necessary effort into the proper and active management of recoveries; as such, the true value of any offered security is moot. Which in english means you cannot be trusted with investors money regardless of the interest rate you offer.
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Post by oppsididitagain on Jun 12, 2019 17:32:36 GMT
Our credit risk analysis model is into its seventh version and we have always sought to balance risk and reward appropriately. Historically most of our lenders have obtained net returns of (on average) over 8% per anum. This may not be a reliable predictor of future performance but does give an indication that, overall, we have been performing above average for a small platform with 6 years history. We have over 1500 lenders who have participated on loans, however we have never previously listed an A+ rated business, simply because we don't get them very often. For many of our lenders the ceiling interest rate of 6% makes the loan undesirable because they have an appetite for higher returns. Read about the new loan here: www.rebuildingsociety.com/applications/chancery-construction-limited/For any lenders that have been waiting for a low-risk loan, now is a good time to get involved. We are also currently running a 2% cashback incentive: www.rebuildingsociety.com/cashback-offer/Any new lenders wanting a demo / tour can ask for some training assistance from May who runs our support team. We are a bit more manual than other platforms, but we are also very transparent. Please give us a try... Dan - Your team needs to pull their fingers out and get some of the monies owed to us over the last 3 years. I have over 20 loans still waiting for recovery. Until I see ANY returns on these there is no way I will ever invest another penny on your P2P Site.
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hector
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Post by hector on Jun 16, 2019 8:36:21 GMT
Our credit risk analysis model is into its seventh version and we have always sought to balance risk and reward appropriately. Historically most of our lenders have obtained net returns of (on average) over 8% per anum. This may not be a reliable predictor of future performance but does give an indication that, overall, we have been performing above average for a small platform with 6 years history. We have over 1500 lenders who have participated on loans, however we have never previously listed an A+ rated business, simply because we don't get them very often. For many of our lenders the ceiling interest rate of 6% makes the loan undesirable because they have an appetite for higher returns. Read about the new loan here: www.rebuildingsociety.com/applications/chancery-construction-limited/For any lenders that have been waiting for a low-risk loan, now is a good time to get involved. We are also currently running a 2% cashback incentive: www.rebuildingsociety.com/cashback-offer/Any new lenders wanting a demo / tour can ask for some training assistance from May who runs our support team. We are a bit more manual than other platforms, but we are also very transparent. Please give us a try... Dan - Your team needs to pull their fingers out and get some of the monies owed to us over the last 3 years. I have over 20 loans still waiting for recovery. Until I see ANY returns on these there is no way I will ever invest another penny on your P2P Site. I’m afraid the same applies to myself. 3 + years ago I was an active investor in this platform. Having been badly burnt I’m afraid my only activity for the past 12 months has been “Withdraw”
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shimself
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Post by shimself on Jun 23, 2019 11:09:48 GMT
I’m afraid the same applies to myself. 3 + years ago I was an active investor in this platform. Having been badly burnt I’m afraid my only activity for the past 12 months has been “Withdraw” I autobid a small amount on most REBS offerings and then go large-ish on a few. REBS is my most profitable platform (in %).
Their recovery operation now is active, with regular feedback. I suspect this feedback isn't doing them much good because you get to follow the miserable trail through the courts with all the lies and ducking and diving, and it sounds like REBS are being played, but in fact it's the same for everyone. BC's reports are smilar but more sanguine.
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shimself
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Post by shimself on Jun 23, 2019 11:12:25 GMT
Our credit risk analysis model is into its seventh version and we have always sought to balance risk and reward appropriately. Historically most of our lenders have obtained net returns of (on average) over 8% per anum. This may not be a reliable predictor of future performance but does give an indication that, overall, we have been performing above average for a small platform with 6 years history. We have over 1500 lenders who have participated on loans, however we have never previously listed an A+ rated business, simply because we don't get them very often. For many of our lenders the ceiling interest rate of 6% makes the loan undesirable because they have an appetite for higher returns. Read about the new loan here: www.rebuildingsociety.com/applications/chancery-construction-limited/
Please get rid of the damn stupid filters on the lists of loans (or boil them down to With and without security). It took me a while to even see chancery
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shimself
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Post by shimself on Jul 22, 2019 22:19:05 GMT
And after all that REBS are now saying that this whole loan was an identity fraud. Like nobody ever properly verified that the borrower was actually the business. Supposedly.
REBS Don't you dream of visiting this on investors, this is your cock up
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SteveT
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Post by SteveT on Jul 23, 2019 7:07:49 GMT
And after all that REBS are now saying that this whole loan was an identity fraud. Like nobody ever properly verified that the borrower was actually the business. Supposedly.
REBS Don't you dream of visiting this on investors, this is your cock up
A loan personally advertised (at the top of this thread) by the platform's own CEO??!! You really couldn't make this stuff up 
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seb8072
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Post by seb8072 on Jul 23, 2019 7:19:23 GMT
If I had any doubts about my decision to quit this platform I don't now.
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r00lish67
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Post by r00lish67 on Jul 23, 2019 7:31:44 GMT
And after all that REBS are now saying that this whole loan was an identity fraud. Like nobody ever properly verified that the borrower was actually the business. Supposedly.
REBS Don't you dream of visiting this on investors, this is your cock up
A loan personally advertised (at the top of this thread) by the platform's own CEO??!! You really couldn't make this stuff up "For any lenders that have been waiting for a low-risk loan, now is a good time to get involved" Oh dear. They're lucky that the FCA have bigger problems to address.
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optimist
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Post by optimist on Jul 25, 2019 19:37:19 GMT
A loan personally advertised (at the top of this thread) by the platform's own CEO??!! You really couldn't make this stuff up "For any lenders that have been waiting for a low-risk loan, now is a good time to get involved" Oh dear. They're lucky that the FCA have bigger problems to address. Does it say they are liable in the terms and conditions - I can't imagine we're supposed to conduct ID checks
Having a quick look through the Ts&Cs I found
"our principal role is to perform administrative functions on behalf of Borrowers and Lenders in order to bring together prospective Borrowers and Lenders," later it says
"6.1. As part of the registration process, we and certain people authorised to act on our behalf will check your identity."
So the checking of ID is one of their key functions, which they charge for, and so I imagine may be liable for (this is speculation, I'm not a lawyer).
Watching with interest how this is resolved
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Post by danraj on Jul 26, 2019 9:07:37 GMT
We're working with the authorisites to detain the purpotrator suspected of this fraud and recover the funds for lenders.
Financial crime is something that affects us all and we take it very seriously.
We have evaluated what can be learned from this incident and have already implemented some proceedural changes to help reduce the risk of fraud.
We will upadate the affected lenders in due course.
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