|
Post by overthehill on Mar 14, 2020 10:23:13 GMT
The borrower, the type, the location, the amount for sale, the period remaining doesn't stop loans flying off the loan exchange.
I find it extraordinary compared to every other P2P site. Investors even buy loans with 1 month to go, what's going on, you take all the profit and I'll take all the risk off your plate,wow. I'm not a shareholder so I don't have any insight but it may be just the incredible reputation that Proplend has earned regarding misbehaving borrowers and loans, in addition to credible valuations (refer to Fundingsecure) and the set of borrower financical disincentives.
There are two other possibilities 1) strong growth of new investors looking to invest early or a financial institution is buying up available sales (like with some new loans) to keep the exchange healthy looking. Nothing scares investors more than others selling (ref coronavirus stock markets)
|
|
|
Post by Ace on Mar 14, 2020 10:28:41 GMT
There is currently £62k available on a certain warehouse with 1 month to go. It will be interesting to see if that sells.
|
|
|
Post by uksoul on Mar 14, 2020 21:57:40 GMT
The current crisis has seen a flurry of sell off activity on other similar portals. I sold my loans in that Warehouse on Friday simply to reinvest in longer term loans on the PLE. The loans sold likely to be extended by a month or so. So getiing 11- 19.75 % for a couple of months is attractive for short term investors and those wanting to avoid cash drag. There was a loan on Friday with 88K which sold out quickly although that was for 14mths. There are also some great new loans coming up with Proplend so some do sell to release cash to reinvest in those.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Mar 15, 2020 12:38:49 GMT
There is currently £62k available on a certain warehouse with 1 month to go. It will be interesting to see if that sells. Total currently on offer across all SM loans is around £310K+ It would be useful if PL had a quicker route for depositing funds to help buy the ones of interest sooner (debit card payments or automated credits of faster payment receipts over the weekend). Also functionality to be able to buy & sell at a discount or premium.
|
|
|
Post by uksoul on Mar 15, 2020 14:37:46 GMT
There is currently £62k available on a certain warehouse with 1 month to go. It will be interesting to see if that sells. Total currently on offer across all SM loans is around £310K+ It would be useful if PL had a quicker route for depositing funds to help buy the ones of interest sooner (debit card payments or automated credits of faster payment receipts over the weekend). Also functionality to be able to buy & sell at a discount or premium. Agree, debit card facility much needed and have mentioned it to Proplend who said it's being considered. A bit frustrating not being to get in on the good loans now.
|
|
|
Post by overthehill on Mar 15, 2020 15:23:57 GMT
Just dawned on me that is why the exchange is slow at weekends. I always keep 1k/2k cash in the account, should be protected under any eventuality. It's never been this paniced before, plenty of good loans and a few dicy ones. Still amazing how investors are found to buy loans with a month to go!
|
|
|
Post by uksoul on Mar 15, 2020 16:10:03 GMT
Monday will see a lot of those loans go as Proplenders top up their accounts.
|
|
dh1
Member of DD Central
Posts: 371
Likes: 382
|
Post by dh1 on Mar 15, 2020 16:49:46 GMT
Worth bearing in mind that loans going over their term attract penalty interest paid on redemption... Hence the buying interest in loans with a month or so to go. There are other risks, of course!
|
|
liso
Member of DD Central
Posts: 387
Likes: 394
|
Post by liso on Mar 16, 2020 15:18:38 GMT
In excess of 30 loans sitting yesterday and today on the PLE, unwanted. Truly extraordinary times!
|
|
p2pfan
Member of DD Central
Full-Time Investor
Posts: 729
Likes: 812
Member is Online
|
Post by p2pfan on Mar 16, 2020 16:23:14 GMT
In excess of 30 loans sitting yesterday and today on the PLE, unwanted. Truly extraordinary times! I wouldn't touch most of them even if my name was Mr Corona. Renting out to flakey retail businesses in tier two or three locations, B&Bs etc. running on thin margins that will really struggle in the coming months. Judging by the fact that the loans are not being taken up, other lender are making the same deduction.
|
|
p2pfan
Member of DD Central
Full-Time Investor
Posts: 729
Likes: 812
Member is Online
|
Post by p2pfan on Mar 26, 2020 0:53:12 GMT
Also, as has been referred to above, loans on the PL Exchange are not offered at even a small discount. Therefore you're takign over loans at the same rate they were being offered during a thriving economy in a car-crash one (how I now wish we only had Brexit to worry about it!).
Doesn't make sense at all. That's why there's been an avalanche of sellers and hardly any buyers.
PL should allow sellers to offer a discount as other platforms do.
They should also publish detailed information about the borrower and their ability to pay interest and the return of capital in light of the Coronavirus situation so that lenders can make an informed decision. Otherwise taking over one of these loans is little more than guesswork: it's like holding a revolver to one's head which has got four bullets in six of the slots, pulling the trigger and hoping one pulls one of the two blanks rather one of the four that will blow your brains out.
|
|
sapphire
Member of DD Central
Posts: 483
Likes: 400
|
Post by sapphire on Mar 26, 2020 13:44:45 GMT
Also, as has been referred to above, loans on the PL Exchange are not offered at even a small discount. Therefore you're takign over loans at the same rate they were being offered during a thriving economy in a car-crash one (how I now wish we only had Brexit to worry about it!). Doesn't make sense at all. That's why there's been an avalanche of sellers and hardly any buyers. PL should allow sellers to offer a discount as other platforms do. They should also publish detailed information about the borrower and their ability to pay interest and the return of capital in light of the Coronavirus situation so that lenders can make an informed decision. Otherwise taking over one of these loans is little more than guesswork: it's like holding a revolver to one's head which has got four bullets in six of the slots, pulling the trigger and hoping one pulls one of the two blanks rather one of the four that will blow your brains out. Indeed, I think the PL exchange should provide the facility of selling at a discount (or indeed a premium), like a number of other platforms. This will improve liquidity by allowing market demand & supply forces to set the appropriate price to achieve liquidity. So far liquidity hasn't been an issue on the PL exchange, but in times like this it is particularly important and so functionality like discounting would be very helpful. I guess PL may be concerned that a large number of loans being offered at a discount could create a poor impression of the quality of loans on the platform, and so not offering it, thereby impeding liquidity. I think most PL investors are sufficiently astute and aware that the a discounted price or the amount of loan on sale (Note) itself does not mean that the loan is of a poor quality and that a period like now offers an opportunity to potentially acquire investments with attractive returns *after* sufficient DD has been undertaken on the fundamentals to assess the strength in current circumstances .i.e. separating the 'wheat' from the 'chaff'. To do so providing up-to-date detailed data on each loan would be invaluable. (Note: Whilst a number of loans on the PL exchange currently have a large amount offered for sale, I think some of these were institutionally underwritten and are being offloaded now for liquidity reasons, rather than being a panic sale due to concern of underlying strength, and so the size/amount on sale should on its own not be used to judge quality).
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Mar 30, 2020 12:31:49 GMT
When I managed to login about 3 hours ago, the Property Loan Exchange was empty.
Also withdrawals said they would be available later.
|
|
|
Post by overthehill on Jul 3, 2020 11:09:43 GMT
The proplend exchange has been slowly but surely getting back to that full liquidity level i.e. empty. 3 properties left heading in the direction of 0 available.
The new loans cupboard on the other hand is looking extremely bare apart from one tin which has been in there for some time.
|
|
|
Post by uksoul on Jul 3, 2020 17:10:38 GMT
The proplend exchange has been slowly but surely getting back to that full liquidity level i.e. empty. 3 properties left heading in the direction of 0 available.
The new loans cupboard on the other hand is looking extremely bare apart from one tin which has been in there for some time.
The New loans cupboard will be refilled over the next few weeks as described in the July update.
|
|