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Post by uksoul on Oct 3, 2021 12:21:20 GMT
I thought you guaranteed a slice of Tranche A if fully on autolend. No, I'm afraid not! Proplend reserve the right, and have exercised that right, not to allocate all TrancheA funds to Auto-Lend Always-On accounts even when some Always-On accounts have received no allocation, in order to offer funds to Auto-Lend Self-Select accounts. Effectively, Always-On accounts do NOT necessarily have priority over Self-Select. Back in April when this problem first occurred, there was an exchange with Proplend on this issue. The full text of the exchange is in the members-only DDCentral Discussion forum, but here's a summary: P2P-lender: With large volumes of cash competing for slices of small loans on Proplend, the way in which Proplend allocates lenders' funds is a current issue, with many lenders getting no allocation; in the last few months, a lender using Auto-Lend's "AlwaysOn" option would expect to get only half of all the offered loans. In the latest loan, some AlwaysOn lenders got nothing despite missing-out on the previous loan too, but funds were offered to "Self-Select" lenders. Proplend: ".... we have had to limit the amount to Always On and Self Select on these smaller loans in the interests of fairness". Ok..i get it now,,,not many big loans in the pipeline so many lenders will continue to go go without
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Post by overthehill on Oct 4, 2021 12:19:43 GMT
My current dashboard ROI has dropped below 7% net for the first time in 4.5 years. I'm usually Tranche A, very occasionally B and never C. It's going to be tough to even maintain the current rate in the short term until interest rates rise and more of those expertly selected higher return bridging loans appear!
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eeyore
Member of DD Central
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Post by eeyore on Oct 11, 2021 11:01:05 GMT
With today's email announcing the availability of the Ipswich B*** loan for Self-Select lenders, Proplend expects the Walsall C*** M*** U*** loan to go live "imminently".
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bababill
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Post by bababill on Oct 14, 2021 7:55:25 GMT
I’m sure there is a thread for it somewhere but I can’t find it. Anyhow I’m just copying and pasting someone’s post from the AC thread.
“ Margate hotel from PL was due to refinance with AC today, thats the one listed as being in the medical sector....”
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sapphire
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Post by sapphire on Oct 18, 2021 14:55:54 GMT
The upcoming Strand Refinance is changing from a term loan to a 18 month interest reserve loan (plus 3 month cushion). I wonder why? Would it be safe to presume they are having trouble financing the interest? However seems unlikely since all payments have been made on time. Also one of the directors was terminated yesterday however I suspect this is a non issue. However accounts are very very late too. It has been changed to a bridging loan with a comforting 21 months interest reserve. Bridging loan covers an upcoming transaction. typically a sale. A lot of accounts are delayed on companies house database due to CV19 affecting staffing levels. This loan is no longer listed under Pending so looks like the refinance will be elsewhere.
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Post by uksoul on Oct 18, 2021 15:29:10 GMT
It has been changed to a bridging loan with a comforting 21 months interest reserve. Bridging loan covers an upcoming transaction. typically a sale. A lot of accounts are delayed on companies house database due to CV19 affecting staffing levels. This loan is no longer listed under Pending so looks like the refinance will be elsewhere. Seems so, a couple of others also gone AWOL.
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bababill
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Post by bababill on Oct 18, 2021 22:36:26 GMT
Property Alert reference: 1929394
There has been activity on the following property for which you have requested a Property Alert notification.
Property address: xxxxxx, Margate (xxxxx)
Title number: K95455
The activity details are:-
Search lodged by SHAKESPEARE MARTINEAU LLP
On: 18.Oct.2021 At: 15:11:33
Customer reference: 996859.441/HMP.SXG
HM Land Registry reference: 138A0JN
To protect a pending: Charge
In favour of: ASSETZ CAPITAL TRUST COMPANY LIMITED
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morris
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Post by morris on Oct 19, 2021 9:46:59 GMT
Perhaps Proplend are becoming uncompetitive in the market for loans. There were about thirty listed in the Summer. Assetz have upped their game. Interest rates may soften. I think this was hinted at by the CEO in the Financial Thing webinar recently.
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eeyore
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Post by eeyore on Oct 23, 2021 8:50:30 GMT
With Friday's email announcing the repayment of the Margate H*** loan in full (with 136 days penalty interest), the next loan to become available should be the £1.7million Barlby D*** I*** loan.
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Post by uksoul on Oct 23, 2021 12:56:43 GMT
With Friday's email announcing the repayment of the Margate H*** loan in full (with 136 days penalty interest), the next loan to become available should be the £1.7million Barlby D*** I*** loan. i was informed Peterborough and Aberystwyth were the next 2 expected to be released.. * Balby and Peterborough close to being launched as per 10/25 email
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ukinvestor
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Post by ukinvestor on Oct 25, 2021 19:58:24 GMT
With Friday's email announcing the repayment of the Margate H*** loan in full (with 136 days penalty interest), the next loan to become available should be the £1.7million Barlby D*** I*** loan. Barlby D*** I*** has disappeared from the pending list...
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Post by uksoul on Oct 25, 2021 23:27:12 GMT
With Friday's email announcing the repayment of the Margate H*** loan in full (with 136 days penalty interest), the next loan to become available should be the £1.7million Barlby D*** I*** loan. Barlby D*** I*** has disappeared from the pending list... Yeah and it was about to be launched, ..hopefully just a last minute glitch as it looked a great deal.
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Post by Ace on Oct 26, 2021 0:19:10 GMT
Barlby D*** I*** has disappeared from the pending list... Yeah and it was about to be launched, ..hopefully just a last minute glitch as it looked a great deal. I'm with you on the hope, but I fear it's likely to be in vain. They don't normally return. It's a shame as it was the largest upcoming loan, so would have been great for getting funds deployed, and for keeping the platform profitable.
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Post by uksoul on Oct 26, 2021 0:54:39 GMT
Yeah and it was about to be launched, ..hopefully just a last minute glitch as it looked a great deal. I'm with you on the hope, but I fear it's likely to be in vain. They don't normally return. It's a shame as it was the largest upcoming loan, so would have been great for getting funds deployed, and for keeping the platform profitable. Yeah the largest one on offer and potential to get 2-3K in Tranche B. Reducing cash drag is important especially as the loan exchange is not that active.
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bababill
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Post by bababill on Oct 26, 2021 7:35:14 GMT
It is back... (was a Lendy borrower also fyi).
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