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Post by dan1 on Feb 10, 2021 22:10:40 GMT
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Nomad
Member of DD Central
Posts: 727
Likes: 494
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Post by Nomad on Feb 11, 2021 10:23:34 GMT
Did you try again Nomad? Ive just been booted out for the second time. I did put a figure in the net worth box this time so it was either a mistake with the questions or i'm not rich enough. Perhaps it's an omen. Second time lucky. No loans available as yet.
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rocky1
Member of DD Central
Posts: 1,113
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Post by rocky1 on Feb 11, 2021 10:35:27 GMT
not enough lenders/investors what ever they call us putting their funds in for them to lend out yet. maybe a £50/100 bonus for the first 500 lenders might get the show up and running.
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squid
Member of DD Central
Posts: 141
Likes: 204
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Post by squid on Feb 11, 2021 10:56:07 GMT
Anyone else notice that the answer(s) to one or more of the 14 (or is it 12?) questions appeared to have been changed for the second attempt after 24 hours? Email says all 14 questions have to be answered correctly, test page says 11 of 12...
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Post by munchydave on Feb 11, 2021 11:15:19 GMT
not enough lenders/investors what ever they call us putting their funds in for them to lend out yet. maybe a £50/100 bonus for the first 500 lenders might get the show up and running. I have heard it all before. I will never put a penny into any P2P site no matter what they promise.
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Post by Penny Pincher on Feb 11, 2021 12:14:41 GMT
I have heard it all before. I will never put a penny into any P2P site no matter what they promise. May ask why you're on this forum and in particular, why are you reading this thread about a new platform? Just curious.
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Post by dan1 on Feb 11, 2021 12:17:33 GMT
I have heard it all before. I will never put a penny into any P2P site no matter what they promise. May ask why you're on this forum and in particular, why are you reading this thread about a new platform? Just curious. Fury, rage, anger, indignation? Just guessing
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Post by dan1 on Feb 11, 2021 12:29:13 GMT
It's all too easy to get wrapped up in a negative spiral wrt this new platform.
Can I just say that I expect the platform will take off and will demonstrate success in the short term. I'm sure that demand will far outstrip supply for pawn and bridging loans especially in the context of negative interest rates for HNW's in the coming years.
I guess the business case for the platform is not derived from pawn but property. We'e seen a succession of platforms try to scale up by entering bridging and development loans following initial success in pawn,... Collateral, FundingSecure, MoneyThing, Unbolted spring to mind. I suggest Kristian Henery, the Property Director, may be key to their long term success or otherwise.
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Post by df on Feb 11, 2021 15:54:56 GMT
It's all too easy to get wrapped up in a negative spiral wrt this new platform. Can I just say that I expect the platform will take off and will demonstrate success in the short term. I'm sure that demand will far outstrip supply for pawn and bridging loans especially in the context of negative interest rates for HNW's in the coming years. I guess the business case for the platform is not derived from pawn but property. We'e seen a succession of platforms try to scale up by entering bridging and development loans following initial success in pawn,... Collateral, FundingSecure, MoneyThing, Unbolted spring to mind. I suggest Kristian Henery, the Property Director, may be key to their long term success or otherwise. Out of these four, the only one that survived is Unbolted. There was an attempt to expand into property, it was opposed by lenders and Unbolted didn't go ahead with this idea. They've eventually created OnStep, but that's a different platform. I don't think I'd personally be interested in the property side of CL, but I'm likely to invest in bling if it's offered at a reasonable quantity. The thing that worked badly for many investors on FS was the limit. I can see CL is adapting the FS £25 minimum model. Some of bling loans were as small £500, that's to satisfy 20 investors who managed to snap these chunks within the first second... if that's the case, I would give up on it very quickly. Something like £5 allowance for small bling loans would be better.
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Post by df on Feb 11, 2021 18:42:57 GMT
New loan launching tomorrow (that was quick).
6-months loan for £5,800 against a Rolex Day-Date.
Key information:
Asset Value £10,000 58.0% (LTV). Condition overall is good. The asset has been valued in-house by Connective Lending.
Tranche Total Investment **LTV *Gross Interest Rate (p.a.) 'A' £4,000 40% 8.0% 'B' £1,200 52% 11.0% 'C' £600 58% 13.0%
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Post by investandlearn on Feb 11, 2021 18:56:10 GMT
This loan looks like a good offer. First jewellery loan I have seen anywhere. This looks like my second P2P platform to get signed up to I think.
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Greenwood2
Member of DD Central
Posts: 4,217
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Post by Greenwood2 on Feb 11, 2021 19:48:07 GMT
This loan looks like a good offer. First jewellery loan I have seen anywhere. This looks like my second P2P platform to get signed up to I think. Be really careful about new platforms (no track record which is a bit of a worry), and think about exiting quickly if necessary. Probably it will be OK for the first few months/first few loans and maybe fine in the future or even great, but there is no guarantee and be warned by other platform failures. Nothing against this platform, but be careful depending on how risk averse you are.
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Post by df on Feb 11, 2021 20:01:42 GMT
This loan looks like a good offer. First jewellery loan I have seen anywhere. This looks like my second P2P platform to get signed up to I think. Plenty of watches on Unbolted, but the loan flow has slowed down in the past year or so. My balance on UB has dropped by approx 40%, so I thought I'll risk to dip my toe in to this new 'opportunity'. It does feel like FS/COL/MT-MKII, but I will be very stingy this time . This type of loans are usually get renewed a number of times and then eventually end up at auctions. Bling is the best asset type in the event of default (at least in my experience), if valued correctly.
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jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,739
Likes: 3,134
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Post by jonno on Feb 11, 2021 20:06:47 GMT
This loan looks like a good offer. First jewellery loan I have seen anywhere. This looks like my second P2P platform to get signed up to I think. Plenty of watches on Unbolted, but the loan flow has slowed down in the past year or so. My balance on UB has dropped by approx 40%, so I thought I'll risk to dip my toe in to this new 'opportunity'. It does feel like FS/COL/MT-MKII, but I will be very stingy this time . This type of loans are usually get renewed a number of times and then eventually end up at auctions. Bling is the best asset type in the event of default (at least in my experience), if valued correctly. It's those last three words that have me shitting myself
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james100
Member of DD Central
Posts: 971
Likes: 1,184
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Post by james100 on Feb 11, 2021 20:06:58 GMT
This loan looks like a good offer. First jewellery loan I have seen anywhere. This looks like my second P2P platform to get signed up to I think. Plenty of watches on Unbolted, but the loan flow has slowed down in the past year or so. My balance on UB has dropped by approx 40%, so I thought I'll risk to dip my toe in to this new 'opportunity'. It does feel like FS/COL/MT-MKII, but I will be very stingy this time . This type of loans are usually get renewed a number of times and then eventually end up at auctions. Bling is the best asset type in the event of default (at least in my experience), if valued correctly....and if it turns out to be actually owned by the borrower...
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