agent69
Member of DD Central
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Post by agent69 on Feb 11, 2021 20:28:12 GMT
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...  and is securely in the possession of the platform
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Post by df on Feb 11, 2021 20:35:20 GMT
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  Well, it "has been valued in-house by Connective Lending" doesn't sound any less credible than RICS
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Post by df on Feb 11, 2021 20:45:39 GMT
...and if it turns out to be actually owned by the borrower... and is securely in the possession of the platform Thinking of posh watches specifically - I can't recall any watches on FS that turned out to be a fraud. I wasn't in every watch, so might be wrong, but all of mine have returned capital and some interest.
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Post by dan1 on Feb 11, 2021 20:50:26 GMT
Let's hope they know about the Unbolted borrower and their associates.
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Post by investandlearn on Feb 11, 2021 21:12:48 GMT
Hello Greenwood2,
I have just registered and opened my account.
I will be cautious of this new platform but to be honest the first loan looks good.
I have been looking at the second-hand value of this watch on various websites and £10,000 looks very fair to be honest.
I haven`t had any previous losses due to the fact that this is my fist venture into P2P but clearly I can read that some of you have.
In my opinion, you can only judge a platform by its results and looking at one of the directors background, he does pawnbroking on a daily basis which adds a lot of confidence to me.
I generally have a good gut instinct so fingers crossed I am correct with my choices of platforms and investments that I make.
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Post by df on Feb 12, 2021 9:30:52 GMT
Hi connectivelending, It looks like the first loans started to appear on the website, so I thought it will be a good time to ask now. Could you please introduce borrower IDs? FS didn't do that and it messed up investors' strategies (i.e. many of us ended up with too much exposure to a single borrower and consequently a big loss as the borrower didn't appear to own the assets). Collateral and MT had borrower's ID displayed for each loan, this helped investors to avoid over-exposure. Could you do this? |
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Post by mfaxford on Feb 12, 2021 9:53:54 GMT
Connective Lending has two founding Directors namely Danny Grimes and Noman Akram. My name is Danny (Daniel) Grimes and I am an experienced entrepreneur and co-owner of Connective Lending Ltd. I have owned and run a small chain of Pawnbrokers for 24 years. I have maintained the same company through more ups than downs in those years without failure. I also started a company called www.watchbuyers.co.uk which separated from Almagrove Ltd in 2014. My companies have specialised in the purchase, sale and leverage of personal assets. Having a look around I see that Watch Buyers, Almagrove, and CashRecyle all seem to be linked to the same address as Connective Lending (in The Marlands). Whilst I find some re-assurance that the existing businesses have been able to keep a number of physical stores operating one of which being where Connective Lending is listed I wonder how the separation between them works, e.g. if someone wanted a loan against an expensive watch (as in the example listed on this thread) how is it decided which of the four businesses will provide the loan?
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Post by brightspark on Feb 12, 2021 10:19:44 GMT
Hello Greenwood2, I have just registered and opened my account. I will be cautious of this new platform but to be honest the first loan looks good. I have been looking at the second-hand value of this watch on various websites and £10,000 looks very fair to be honest. I haven`t had any previous losses due to the fact that this is my fist venture into P2P but clearly I can read that some of you have. In my opinion, you can only judge a platform by its results and looking at one of the directors background, he does pawnbroking on a daily basis which adds a lot of confidence to me. I generally have a good gut instinct so fingers crossed I am correct with my choices of platforms and investments that I make. Have a look at how badly things went adrift on several other p to p platforms. My experiences only stretch as far as Lendy, Funding Secure and Collateral. Collateral was slightly oddball because it disappeared for Regulatory reasons pretty much without warning.
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agent69
Member of DD Central
Posts: 4,803
Likes: 3,597
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Post by agent69 on Feb 12, 2021 11:47:31 GMT
Connective Lending has two founding Directors namely Danny Grimes and Noman Akram. My name is Danny (Daniel) Grimes and I am an experienced entrepreneur and co-owner of Connective Lending Ltd. I have owned and run a small chain of Pawnbrokers for 24 years. I have maintained the same company through more ups than downs in those years without failure. I also started a company called www.watchbuyers.co.uk which separated from Almagrove Ltd in 2014. My companies have specialised in the purchase, sale and leverage of personal assets. Having a look around I see that Watch Buyers, Almagrove, and CashRecyle all seem to be linked to the same address as Connective Lending (in The Marlands). Whilst I find some re-assurance that the existing businesses have been able to keep a number of physical stores operating one of which being where Connective Lending is listed I wonder how the separation between them works, e.g. if someone wanted a loan against an expensive watch (as in the example listed on this thread) how is it decided which of the four businesses will provide the loan? Would have thought that was obvious.
If the company is putting up the capital for the loan itself, then only the lowest risk loans will be funded. Higher risk loans go to the P2P platform, where funds are provided by gullible naive inexperienced sophisticated investors
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Post by connectivelending on Feb 12, 2021 11:59:58 GMT
Dear All,
My name is Danny Grimes of Connective Lending. I will try and answer some points in this reply to give some assurance.
1 : I have been in pawnbroking since 1997 with the same company. I can assure you that the first rule of Pawnbroking is you take control of the asset. None of my stores have ever strayed from this most basic of concepts.
2 : I have an office and showroom for Watchbuyers.co.uk at the back of our store in Southampton city centre, which you will be welcome to visit. While we establish our business, it makes sense to share the space and save on office rental costs, plus it is a nice space to work from when allowed.
3 : Watchbuyers.co.uk is a company that buys and sells watches. We do not lend money at that business as it is not regulated. Our enquiries are only for people looking to sell and purchase.
4 : My Cash Recycle stores are high street Pawnbrokers and Retail stores and as a rule, do not attract the higher end loans.
5 : Almagrove Ltd does have a high end lending business, branded differently, which I have historically funded personally and with the help of some short term loan investments from colleagues.
6 : Any new loan enquiries will be placed on the platform for investment. Almagrove Ltd is a licensed credit broker and as such any enquiries received through that medium can, and will, be passed to Connective Lending.
I own a profitable and stable business which employs many staff and has its own niche on the high street. This gives me the foundation to be able to focus on this new platform and hopefully share some success with you all.
We have many plans and new products which we will tell you about as they pass scrutiny and regulatory compliance.
Hope this helps. I cannot always respond though will endeavour to as needed.
All the best.
Danny Grimes
And all at Connective Lending.
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Post by connectivelending on Feb 12, 2021 13:43:23 GMT
Connective Lending has two founding Directors namely Danny Grimes and Noman Akram. My name is Danny (Daniel) Grimes and I am an experienced entrepreneur and co-owner of Connective Lending Ltd. I have owned and run a small chain of Pawnbrokers for 24 years. I have maintained the same company through more ups than downs in those years without failure. I also started a company called www.watchbuyers.co.uk which separated from Almagrove Ltd in 2014. My companies have specialised in the purchase, sale and leverage of personal assets. Having a look around I see that Watch Buyers, Almagrove, and CashRecyle all seem to be linked to the same address as Connective Lending (in The Marlands). Whilst I find some re-assurance that the existing businesses have been able to keep a number of physical stores operating one of which being where Connective Lending is listed I wonder how the separation between them works, e.g. if someone wanted a loan against an expensive watch (as in the example listed on this thread) how is it decided which of the four businesses will provide the loan? Hi Mfaxford We do have borrow ID's already to alert lenders. Kind regards Connective Lending
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Post by connectivelending on Feb 12, 2021 13:52:22 GMT
Having a look around I see that Watch Buyers, Almagrove, and CashRecyle all seem to be linked to the same address as Connective Lending (in The Marlands). Whilst I find some re-assurance that the existing businesses have been able to keep a number of physical stores operating one of which being where Connective Lending is listed I wonder how the separation between them works, e.g. if someone wanted a loan against an expensive watch (as in the example listed on this thread) how is it decided which of the four businesses will provide the loan? Would have thought that was obvious.
If the company is putting up the capital for the loan itself, then only the lowest risk loans will be funded. Higher risk loans go to the P2P platform, where funds are provided by gullible naive inexperienced sophisticated investors
Dear Agent69, All of our loans will be visible to all investors to make a decision as to whether they invest or not. We hope you will give us a chance to show you that we know how to value assets and that when done properly even defaults will not be bad for lenders. Kind regards
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Post by df on Feb 12, 2021 13:53:05 GMT
Having a look around I see that Watch Buyers, Almagrove, and CashRecyle all seem to be linked to the same address as Connective Lending (in The Marlands). Whilst I find some re-assurance that the existing businesses have been able to keep a number of physical stores operating one of which being where Connective Lending is listed I wonder how the separation between them works, e.g. if someone wanted a loan against an expensive watch (as in the example listed on this thread) how is it decided which of the four businesses will provide the loan? Hi Mfaxford We do have borrow ID's already to alert lenders. Kind regards Connective Lending Thank you. I couldn’t find it before, but can see it now.
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Post by connectivelending on Feb 12, 2021 14:38:18 GMT
Dear All,
It is very important that you read our risk page before taking our application tests. Important information is contained in this page about how we run our business.
It is a regulatory obligation for our company to make sure you understand peer to peer lending and what happens in certain events pertaining to our business model.
Some answers may be common sense, and logical, whereas some are based on making sure you understand our model.
Kind regards
Connective Lending
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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
Posts: 9,972
Likes: 10,033
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Post by ilmoro on Feb 12, 2021 15:11:12 GMT
6 brave souls so far, one double dipper and one definitely braver than the rest - straight in for the bonus
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