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Post by Ace on Feb 13, 2021 11:24:02 GMT
Someone took 20 bites of the loan today!
What's that all about?
Only tranche A left now.
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Greenwood2
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Post by Greenwood2 on Feb 13, 2021 17:09:04 GMT
Someone took 20 bites of the loan today! What's that all about? Only tranche A left now. I'm surprised everyone goes for the high rate tranches after what happened to all the 12%+ platforms. I Would have expected lenders to be more cautious particularly with a new platform. I guess it's still tempting to go for the highest rate possible what could possibly go wrong.
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Post by Ace on Feb 13, 2021 17:55:05 GMT
Someone took 20 bites of the loan today! What's that all about? Only tranche A left now. I'm surprised everyone goes for the high rate tranches after what happened to all the 12%+ platforms. I Would have expected lenders to be more cautious particularly with a new platform. I guess it's still tempting to go for the highest rate possible what could possibly go wrong. Having lent against many Rolexes on Unbolted at higher LTVs than this without losses, I felt very comfortable with the security on this one. Obviously the platform risk is completely unknown at this point, and the link to FS is an obvious concern. Also interesting that the various tranche LTVs don't match those in the Ts&Cs. Which state that the bands are: - Tranche A: 0 to 45% LTV
- Tranche B: 46 to 60% LTV
- Tranche C: 61 to 70% LTV
This loan has: - Tranche A: 0 to 40% LTV
- Tranche B: 40 to 52% LTV
- Tranche C: 52 to 58% LTV
Though these percentages don't match the achievable recovery in case of default. Since both the interest and capital of lower tranches takes precedence over higher tranches. So, on this loan Tranche B holders would lose all unless more than 41.6% of the security value was recovered (40% capital plus 6 months interest on £4k at 8%pa), and Tranche C would lose all unless more than 54.26% of the security value was recovered (Tranche A plus another 12% capital plus 6 months interest on £1.2k at 11%pa).
Perhaps I'm over analysing 🙃
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Post by df on Feb 13, 2021 21:45:20 GMT
Someone took 20 bites of the loan today! What's that all about? Only tranche A left now. I'm surprised everyone goes for the high rate tranches after what happened to all the 12%+ platforms. I Would have expected lenders to be more cautious particularly with a new platform. I guess it's still tempting to go for the highest rate possible what could possibly go wrong. Well, from past experience, these type of borrowings hardly ever end in 6 months. Most of them get renewed. So taking more risk for higher interest for the first round makes sense. Also advertised LTV looks conservative. I don't know anything about luxury watches, but I've checked two or three on-line shops and it looks like this watch is not overvalued. The other reason for C going so quickly was the proportion of it, and nobody snapped £600 in one go
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Post by df on Feb 13, 2021 22:09:09 GMT
Someone took 20 bites of the loan today! What's that all about? Only tranche A left now. Yes, quite interesting. May be this person is thinking of rebalancing their portfolio in future, thus creating small chunks to make it more flexible. That was the case on FC, you couldn't sell part of your loan - all or nothing. I don't think this is the case for CL, the system is the same as FS - so you can sell parts of your loan in £25 segments no matter what the original size is.
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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 Feb 19, 2021 14:51:41 GMT
Loan 2 - launching 11am tomorrow so I guess they will be working weekends
Only £1500 so £50 bid restriction for 1st 24hrs
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nyneil
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Post by nyneil on Feb 19, 2021 16:56:33 GMT
connectivelending If a loan is renewed, will capital and interest for the original loan, be paid to investors? That is to say, can I exit after the first term?
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Post by connectivelending on Feb 19, 2021 17:36:35 GMT
connectivelending If a loan is renewed, will capital and interest for the original loan, be paid to investors? That is to say, can I exit after the first term? Dear Myneil, The answer is that you can exit from a loan and that your capital and interest will be paid to you once your investment is taken up by another investor. This will happen in a similar way to a new loan becoming available, but once launched, only your part of the loan will be available to other investors. Hope this explains well enough. Signing off now so have a nice weekend all. Connective Lending
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Post by df on Feb 19, 2021 18:07:53 GMT
connectivelending If a loan is renewed, will capital and interest for the original loan, be paid to investors? That is to say, can I exit after the first term? Dear Myneil, The answer is that you can exit from a loan and that your capital and interest will be paid to you once you investment is taken up by another investor. This will happen in a similar way to a new loan becoming available, but once launched, only your part of the loan will be available to other investors. Hope this explains well enough. Signing off now so have a nice weekend all. Connective Lending Will there be a renewal option for existing investors in the loan. If yes, will investors have to stick with the same tranche/rate? Or will the whole renewed loan be up for bidding from scratch?
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Greenwood2
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Post by Greenwood2 on Feb 20, 2021 8:08:10 GMT
There is very little detail about the ring coming up for sale 'Traditional Style Cluster Ring', so it is impossible for lenders to judge the valuation. It would be nice to know what the stones are and how big they are and even what metal it is. I probably wouldn't be much wiser but I could do some research. Is there valuation insurance on the items we lend against, to protect against the item selling at auction for considerably less than Connective Lending's in house valuation (or any other valuation obtained)?
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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 Feb 20, 2021 9:16:19 GMT
There is very little detail about the ring coming up for sale 'Traditional Style Cluster Ring', so it is impossible for lenders to judge the valuation. It would be nice to know what the stones are and how big they are and even what metal it is. I probably wouldn't be much wiser but I could do some research. Is there valuation insurance on the items we lend against, to protect against the item selling at auction for considerably less than Connective Lending's in house valuation (or any other valuation obtained)? Isn't that in the overview description on the site? Diamonds & 4ct sapphire with 18ct gold band.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Feb 20, 2021 10:39:27 GMT
There is very little detail about the ring coming up for sale 'Traditional Style Cluster Ring', so it is impossible for lenders to judge the valuation. It would be nice to know what the stones are and how big they are and even what metal it is. I probably wouldn't be much wiser but I could do some research. Is there valuation insurance on the items we lend against, to protect against the item selling at auction for considerably less than Connective Lending's in house valuation (or any other valuation obtained)? Isn't that in the overview description on the site? Diamonds & 4ct sapphire with 18ct gold band. Thanks for that, I didn't read that far (was off the screen until I scrolled down!), I thought that section was just giving all the warnings and general information, I expected the full description to be under particulars. It would seem more logical to have the description first and the general information underneath.
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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: 10,848
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Post by ilmoro on Feb 20, 2021 11:06:08 GMT
Not exactly flying out the door but if everyone's like me they haven't had their funds credited. Not sure weekend launches are the best idea
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Post by Ace on Feb 20, 2021 11:20:38 GMT
Not exactly flying out the door but if everyone's like me they haven't had their funds credited. Not sure weekend launches are the best idea Yep, that's my position too.
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Post by df on Feb 20, 2021 11:36:56 GMT
Not exactly flying out the door but if everyone's like me they haven't had their funds credited. Not sure weekend launches are the best idea I've transferred yesterday after 5pm and it was credited @10.27 this morning.
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