trium
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Post by trium on Sept 9, 2021 20:47:26 GMT
Something odd about today's IWC watch - it was all gone at 1.10 but two investors got in for a total of £100 at 18.25.
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upperdeane
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Post by upperdeane on Sept 9, 2021 23:18:46 GMT
Gold coins repaid,what a shame nicer earner whilst it lasted P.S are we getting our own board anytime soon You must be reading my mind. I was just wondering about that earlier today. Who decides these things?
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Post by mfaxford on Sept 10, 2021 8:39:46 GMT
Admin/Mods - wonder if its time for Connective to get its own board? More active than many platforms that do have their own boards P.S are we getting our own board anytime soon I just posted the question in p2pindependentforum.com/thread/18896/connective-lending-new-sectionI'm not sure if that's the right way to get it done but might at least have more chance of being noticed.
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toffeeboy
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Post by toffeeboy on Sept 17, 2021 12:59:24 GMT
new loan going live
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 17, 2021 13:36:29 GMT
Nobody seems to have noticed. Was on a train & assumed I'd missed it but no 30mins later & still all 3 tranches available
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trium
Member of DD Central
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Post by trium on Sept 17, 2021 16:01:18 GMT
Email went out about 12.30 so not much notice. Not much avtivity while the bid limit was on so I got £100 on C but as soon as the limit was lifted the lot went in seconds (bids of £900, £350, £300, £2000 being the main hits).
Which brings be to another gripe about this awful bidding system. If I bid £250 for a tranche which has plenty left but in the meantime other bidders bring the remaining amount down to, say, £200, the system tells me that I can only have £200. Very well, give me the £200 then. But no, it makes me edit the bid andresubmit, by which time another 50 quid has gone and I have to do it again, until I chase it all the way down to zero and get nowt. That happened today. Meanwhile the tranche went to bidders who in all probability bidded after me.
Rant over.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 11, 2021 21:59:11 GMT
Not sure this is exactly what the FCA had in mind when they introduced the requirement for platforms to have a risk framework to categorise loans under. Risk Category: The loan has been given a credit risk rating of ‘Possible’ meaning it is a low risk compared to category ‘Likely’ and higher risk compared to ‘Unlikely’ loans offered by Connective Lending. Please click here to find out more.Does seem a more realistic categorisation system than some platforms
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 17, 2021 20:48:09 GMT
Good a place as any to copy and past Newsletter Dear Lenders, As 2021 draws to a close, Connective Lending wishes to take this opportunity to provide our lenders with an update of our progress and development over the course of this year and what you can look forward to in 2022. Connective Lending opened its doors at the end of January 2021 and at the height of the pandemic that had taken hold of the world. The uncertain market conditions meant reviewing our lending strategy and focusing on growing our personal asset lending arm over property loans. To date, we feel the decisions made have been the right step forward. In 2021 we have achieved the following: Accumulatively funded loans of £619,750.00 (including repaid and renewed loans). Repaid and renewed loans at a total of £205,425.00. Funded our biggest loan to date of £125,000 against a high-valued luxury watch. Paid our lenders interest of £8,675.68 (including bonus rates). We close 2021 with a new investment of capital in our business. The investment is not only a welcome boost to confidence and confirmation of our current strategy but will help us to grow in 2022 as we look to increase our loan book and pool of lenders. What’s new in 2022 In 2022 we will continue our focus on growing our personal asset loan book and increasing the variety of assets offered to borrowers. As a platform, our goal is to always achieve the best outcome for our lenders. For this reason, Connective Lending has not launched its property lending arm and has redirected its resources on personal asset lending which is currently our main market. With the pandemic taking grip once again in the winter months and going into 2022, we predict an increase within the personal asset lending sector as inflation, bank interest rates and the cost of living continues to increase. We are committed to building our personal asset lending loan book. We intend to recruit more lenders to achieve growth. As a platform, we try our best to ensure a fair balance between lenders and borrowers and that every lender can invest in loans we offer on the platform. We believe, we have succeeded with this in 2021 and hope to continue this approach in 2022 as we grow our pool of lenders. We have also been busy making improvements to the website which we hope to launch early next year. We hope these improvements will provide a better user experience overall. We thank you for your vital feedback and suggestions to help improve our platform. Retail Lender We would also like to say a big thank you to our retail lenders who have registered with us and continue to support us. We remain committed to providing new investments to grow and diversify your portfolio with us and continue to offer loans with gross interest rates of 10%-16% p.a. We hope to expand into new asset classes such as luxury vehicles and fine art which we hope will provide us with the ability to offer some unique investment opportunities and high returns. Christmas Opening Times Please note. the platform will be closed over the holiday period from 20th December 2021 till 3rd January 2022 (inclusive), however, our inbox will be monitored on a daily basis. Deposits and withdrawals will be processed once a day between 9 am-10 am, anything out of these hours will be processed the next working day. Please note deposits and withdrawals will not be processed on the following dates and will be processed on the next working day. 24 December - Christmas Eve 27 December - Bank Holiday 28 December - Bank Holiday 31 December - New Year's Eve 3 January - Bank Holiday Finally, we wish all our lenders a VERY MERRY CHRISTMAS AND HAPPY NEW YEAR!
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Post by df on Dec 17, 2021 23:38:44 GMT
As a platform, our goal is to always achieve the best outcome for our lenders. For this reason, Connective Lending has not launched its property lending arm and has redirected its resources on personal asset lending which is currently our main market. I'm glad that CL didn't get into this toxic territory, because one of the main (if not the main) risks for investors is the collapse of the lending platform business. We have 3 examples of what happens when pawn platforms expand to property lending. UB was the only one that survived, because they didn't follow that temptation (they've asked investors if they would be interested, the answer was "no" and UB listened). I like CL in its current form. Bling&Watches are valued by Danny who is an expert and other items are valued by the auctions who will be selling them in the event of default. Property lending will involve "RICS" who tend to double the value of asset and in the event of default other parties get their cut and we end up loosing most of our capital.... At the moment the risk/interest ratio is great (the best out of platforms I'm currently in), if the property loans come with the same 10%-16% offer I will be worried about CL's sustainability - if they come @ac/KUF/LP range of rates I would question the expertise behind these offers. Vehicles is another toxic territory. In my personal experience I've lost much more than earned in this asset group. One of the problem is, you can't keep the asset in the same way you keep jewellery or watches. They are too large for storing in pawn shop. Fine Art and collectors' items. It's good that CL recognises these as a higher risk by adding 2%. It will be interesting to see what happens to 530085531428, the first test for CL's painting loan - today was the completion day.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 17, 2021 23:58:02 GMT
As a platform, our goal is to always achieve the best outcome for our lenders. For this reason, Connective Lending has not launched its property lending arm and has redirected its resources on personal asset lending which is currently our main market. I'm glad that CL didn't get into this toxic territory, because one of the main (if not the main) risks for investors is the collapse of the lending platform business. We have 3 examples of what happens when pawn platforms expand to property lending. UB was the only one that survived, because they didn't follow that temptation (they've asked investors if they would be interested, the answer was "no" and UB listened). I like CL in its current form. Bling&Watches are valued by Danny who is an expert and other items are valued by the auctions who will be selling them in the event of default. Property lending will involve "RICS" who tend to double the value of asset and in the event of default other parties get their cut and we end up loosing most of our capital.... At the moment the risk/interest ratio is great (the best out of platforms I'm currently in), if the property loans come with the same 10%-16% offer I will be worried about CL's sustainability - if they come @ac/KUF/LP range of rates I would question the expertise behind these offers. Vehicles is another toxic territory. In my personal experience I've lost much more than earned in this asset group. One of the problem is, you can't keep the asset in the same way you keep jewellery or watches. They are too large for storing in pawn shop. Fine Art and collectors' items. It's good that CL recognises these as a higher risk by adding 2%. It will be interesting to see what happens to 530085531428, the first test for CL's painting loan - today was the completion day. Im happy with the current loans and returns seem fair, and the general direction CL are taking, just wish the loan id's could be shorter! (#530085531428) could just be #CL428? please !!!!
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Post by overthehill on Dec 18, 2021 14:03:45 GMT
As a platform, our goal is to always achieve the best outcome for our lenders. For this reason, Connective Lending has not launched its property lending arm and has redirected its resources on personal asset lending which is currently our main market. I'm glad that CL didn't get into this toxic territory, because one of the main (if not the main) risks for investors is the collapse of the lending platform business. We have 3 examples of what happens when pawn platforms expand to property lending. UB was the only one that survived, because they didn't follow that temptation (they've asked investors if they would be interested, the answer was "no" and UB listened). I like CL in its current form. Bling&Watches are valued by Danny who is an expert and other items are valued by the auctions who will be selling them in the event of default. Property lending will involve "RICS" who tend to double the value of asset and in the event of default other parties get their cut and we end up loosing most of our capital.... At the moment the risk/interest ratio is great (the best out of platforms I'm currently in), if the property loans come with the same 10%-16% offer I will be worried about CL's sustainability - if they come @ac/KUF/LP range of rates I would question the expertise behind these offers. Vehicles is another toxic territory. In my personal experience I've lost much more than earned in this asset group. One of the problem is, you can't keep the asset in the same way you keep jewellery or watches. They are too large for storing in pawn shop. Fine Art and collectors' items. It's good that CL recognises these as a higher risk by adding 2%. It will be interesting to see what happens to 530085531428, the first test for CL's painting loan - today was the completion day. I think we're both FS veterans.
I've no problem with cars or art if the pawn shop has possession of them and they are not being used or exhibited. I'm not convinced jewellery and watches are kept at the pawn shop unless they are for sale. Cars would cost more for secure storage of course.
As for anything water based such as boats, keep swimming and don't look back.
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Post by df on Dec 18, 2021 17:41:53 GMT
I'm glad that CL didn't get into this toxic territory, because one of the main (if not the main) risks for investors is the collapse of the lending platform business. We have 3 examples of what happens when pawn platforms expand to property lending. UB was the only one that survived, because they didn't follow that temptation (they've asked investors if they would be interested, the answer was "no" and UB listened). I like CL in its current form. Bling&Watches are valued by Danny who is an expert and other items are valued by the auctions who will be selling them in the event of default. Property lending will involve "RICS" who tend to double the value of asset and in the event of default other parties get their cut and we end up loosing most of our capital.... At the moment the risk/interest ratio is great (the best out of platforms I'm currently in), if the property loans come with the same 10%-16% offer I will be worried about CL's sustainability - if they come @ac/KUF/LP range of rates I would question the expertise behind these offers. Vehicles is another toxic territory. In my personal experience I've lost much more than earned in this asset group. One of the problem is, you can't keep the asset in the same way you keep jewellery or watches. They are too large for storing in pawn shop. Fine Art and collectors' items. It's good that CL recognises these as a higher risk by adding 2%. It will be interesting to see what happens to 530085531428, the first test for CL's painting loan - today was the completion day. I think we're both FS veterans.
I've no problem with cars or art if the pawn shop has possession of them and they are not being used or exhibited. I'm not convinced jewellery and watches are kept at the pawn shop unless they are for sale. Cars would cost more for secure storage of course.
As for anything water based such as boats, keep swimming and don't look back. If luxury cars come into play, I'd like to know full details on the possession of security. I used to go for every available car loan on the assumption that the platform is in possession of the vehicle, but that assumption has proved to be wrong. The boats I hope CL will never ever enter floating and flying markets - these are very dangerous!
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 18, 2021 17:52:59 GMT
I think we're both FS veterans.
I've no problem with cars or art if the pawn shop has possession of them and they are not being used or exhibited. I'm not convinced jewellery and watches are kept at the pawn shop unless they are for sale. Cars would cost more for secure storage of course.
As for anything water based such as boats, keep swimming and don't look back. If luxury cars come into play, I'd like to know full details on the possession of security. I used to go for every available car loan on the assumption that the platform is in possession of the vehicle, but that assumption has proved to be wrong. The boats I hope CL will never ever enter floating and flying markets - these are very dangerous! Agree on boats (not interested) vehicles may be of limited interest and will need a healthy ltv cushion (will have to be in cl physical possession as a minimum) art maybe a good call (again in cl physical possession).
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Jaydee
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Post by Jaydee on Dec 19, 2021 13:39:59 GMT
My concern, as it was with FS, is the number of Rollovers. At what stage will the borrower just say enough is enough and allow the item to default? CL need to reappraise the item at every rollover, especially watches, as the value declines with time and this will increase the LTV and risk profile..
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Post by df on Dec 19, 2021 13:58:05 GMT
My concern, as it was with FS, is the number of Rollovers. At what stage will the borrower just say enough is enough and allow the item to default? CL need to reappraise the item at every rollover, especially watches, as the value declines with time and this will increase the LTV and risk profile.. I could be wrong, but I don't think watches depreciate. The number of rollovers depend on each borrower's personal circumstances. I recall some rollovers continued for few years on other pawn platforms.
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