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Post by multiaccountmanager on Dec 4, 2020 10:58:42 GMT
The last two loans have nearly double the number of investors.
% of Auto Pledge Ceiling allocated to loan has crashed down.
It's a new world, hope all these new people know what they are doing..........
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Post by skidrow on Dec 4, 2020 11:26:31 GMT
It is possible to roll over today's loan from an existing loan and maybe a significant number have chosen to do this. If that's the case then a good chunk would not have been available to new investors. I remember this happening several months ago and I didn't get a sniff, even through autoinvest.
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archie
Posts: 1,836
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Post by archie on Dec 4, 2020 12:03:36 GMT
I chose to roll over and added with autoinvest.
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Post by Ace on Dec 4, 2020 16:39:03 GMT
The last two loans have nearly double the number of investors. % of Auto Pledge Ceiling allocated to loan has crashed down. It's a new world, hope all these new people know what they are doing.......... IMO, if P2P newbies have chosen CP then they either do know what they're doing or they've got very lucky. CP aren't perfect, but they're a standout platform for inexperienced investors to cut their teeth on despite the complicated UI.
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Post by multiaccountmanager on Dec 5, 2020 11:56:19 GMT
It is possible to roll over today's loan from an existing loan and maybe a significant number have chosen to do this. If that's the case then a good chunk would not have been available to new investors. I remember this happening several months ago and I didn't get a sniff, even through autoinvest. Roll over was the case for Shrewsbury. But Solihull was a new project. It had 1200 investors for £525K.
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Post by multiaccountmanager on Dec 5, 2020 11:59:57 GMT
The last two loans have nearly double the number of investors. % of Auto Pledge Ceiling allocated to loan has crashed down. It's a new world, hope all these new people know what they are doing.......... IMO, if P2P newbies have chosen CP then they either do know what they're doing or they've got very lucky. CP aren't perfect, but they're a standout platform for inexperienced investors to cut their teeth on despite the complicated UI. I wonder how many of them have requested and read any of the project valuation reports (which don't have to be requested on the web sites of some other platforms as they are posted with the loan details.) And having read them have done sensitivity analyses on house sale prices and project over runs.
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Post by Ace on Dec 5, 2020 19:20:24 GMT
IMO, if P2P newbies have chosen CP then they either do know what they're doing or they've got very lucky. CP aren't perfect, but they're a standout platform for inexperienced investors to cut their teeth on despite the complicated UI. I wonder how many of them have requested and read any of the project valuation reports (which don't have to be requested on the web sites of some other platforms as they are posted with the loan details.) And having read them have done sensitivity analyses on house sale prices and project over runs. Personally, I no longer feel it necessary to perform detailed DD on CP loans. Their track record is excellent, and their DD has proven to be superior to my own, so I no longer bother. I read the loan details and invest in all those that meet my criteria. Also, the loan flow is sufficiently high enough that, on average, less than 2% of my CP balance is invested per loan (i.e. I have over 50 live loans on the platform), and this percentage is reducing weekly as interest and partial repayments are invested in new loans. Having said that, I do take note of comments on this forum that inform of loans to previous borrowers who have proven unreliable on other platforms, and I do skip such loans. However, I suspect that even then CP may well be party to a better informed version of the facts. And I expect that they will have ensured that they have taken sufficient security and legal protection to ensure that those loans do succeed.
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Post by multiaccountmanager on Dec 6, 2020 10:39:05 GMT
I wonder how many of them have requested and read any of the project valuation reports (which don't have to be requested on the web sites of some other platforms as they are posted with the loan details.) And having read them have done sensitivity analyses on house sale prices and project over runs. Personally, I no longer feel it necessary to perform detailed DD on CP loans. Their track record is excellent, and their DD has proven to be superior to my own, so I no longer bother. I read the loan details and invest in all those that meet my criteria. Also, the loan flow is sufficiently high enough that, on average, less than 2% of my CP balance is invested per loan (i.e. I have over 50 live loans on the platform), and this percentage is reducing weekly as interest and partial repayments are invested in new loans. Having said that, I do take note of comments on this forum that inform of loans to previous borrowers who have proven unreliable on other platforms, and I do skip such loans. However, I suspect that even then CP may well be party to a better informed version of the facts. And I expect that they will have ensured that they have taken sufficient security and legal protection to ensure that those loans do succeed. My confidence in CP due diligence has dropped with the loan for Abergele and comments here about Somerset. I don't see why CP needs to sully itself with a "shareholder borrower" who borrowed over £3m and seems not to have accounted for it properly according to the CP loan information provided to potential borrowers. Also by the shenanigans on other secured property loan platforms which demonstrate how difficult it can be to recover money from an uncooperative borrower. But the main issue is the potential drop in the housing market from Covid and Brexit. Unless of course Sunak's largesse extends for a few more years!
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puddleduck
Member of DD Central
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Post by puddleduck on Dec 6, 2020 10:54:23 GMT
My confidence in CP due diligence has dropped with the loan for Abergele and comments here about Somerset. I've had several concerns about a number of CP loans, and I've been scaling back since they have tilted more towards multi-phase development loans - I avoided Lendy / FS / MT / Collateral due to my distaste for these types of loans, and have no intention of funding 'iffy' developments. In my view, so many of these loans are very similar to what we used to see on the other failed platforms - albeit paying a lower rate. I miss the days when CP loans were uncomplicated residential bridging loans with a reliable LTVs.
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Post by multiaccountmanager on Dec 6, 2020 15:56:44 GMT
My confidence in CP due diligence has dropped with the loan for Abergele and comments here about Somerset. I've had several concerns about a number of CP loans, and I've been scaling back since they have tilted more towards multi-phase development loans - I avoided Lendy / FS / MT / Collateral due to my distaste for these types of loans, and have no intention of funding 'iffy' developments. In my view, so many of these loans are very similar to what we used to see on the other failed platforms - albeit paying a lower rate. I miss the days when CP loans were uncomplicated residential bridging loans with a reliable LTVs. Yes residential non development bridging loans are generally less risky. SoMo (Bridge Crowd) pulled a proposed loan earlier this year when it was pointed out the investors didn't like the borrower's history.
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Post by multiaccountmanager on Dec 20, 2020 15:10:29 GMT
Until quite recently the Autoinvest amount allocated to an investor was approximately:-
Allocation = .001 * Loan Size (£k) * Maximum Pledge Size via Auto Invest
Now there are far more investors this no longer works.
I should appreciate information from any one who has Auto Invested in the 3 latest loans...
.. the percentage of their Maximum Pledge Amount that was allocated
Hawick London Abergele
From another thread I know that the next most recent loan, Somerset, was 8%.
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Post by Ace on Dec 20, 2020 15:44:02 GMT
Until quite recently the Autoinvest amount allocated to an investor was approximately:- Allocation (£k) = .001 * Loan Size (£k) * Maximum Pledge Size via Auto Invest Now there are far more investors this no longer works. I should appreciate information from any one who has Auto Invested in the 3 latest loans... .. the percentage of their Maximum Pledge Amount that was allocated Hawick London Abergele From another thread I know that the next most recent loan, Somerset, was 8%. Here's the allocations that were received by some of the accounts I've been managing. I can't be sure they are the full allocations as some may have been restricted by the amount of cash available in the AutoInvest account, so perhaps others could confirm: Hawick, 7.87% London, 38.34% Abergele, 18.55%
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archie
Posts: 1,836
Likes: 1,841
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Post by archie on Dec 20, 2020 15:47:12 GMT
Until quite recently the Autoinvest amount allocated to an investor was approximately:- Allocation = .001 * Loan Size (£k) * Maximum Pledge Size via Auto Invest Now there are far more investors this no longer works. I should appreciate information from any one who has Auto Invested in the 3 latest loans... .. the percentage of their Maximum Pledge Amount that was allocated Hawick London Abergele From another thread I know that the next most recent loan, Somerset, was 8%. Hawick 7.87% London 38.34% Abergele Skipped
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Post by skidrow on Dec 20, 2020 17:36:18 GMT
Until quite recently the Autoinvest amount allocated to an investor was approximately:- Allocation = .001 * Loan Size (£k) * Maximum Pledge Size via Auto Invest Now there are far more investors this no longer works. I should appreciate information from any one who has Auto Invested in the 3 latest loans... .. the percentage of their Maximum Pledge Amount that was allocated Hawick London Abergele From another thread I know that the next most recent loan, Somerset, was 8%. Hawick: 7.88% London: >23% (My maximum investment was set at £2000 but I only had £460 available. It was all taken up) Abergele: skipped
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Post by Ace on Dec 20, 2020 18:00:44 GMT
No new loans for 2 weeks over Xmas season coupled with lots of freed-up cash from RS's property loan sale is likely to result in record low percentages for AutoInvest amounts in January.
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