dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 6, 2021 10:17:02 GMT
(Abe*g***) This is new ? " Please note, for this project, pledges will be limited to a maximum of £0 until 10:05am. After 10:05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised".
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ton27
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Post by ton27 on Dec 6, 2021 10:52:09 GMT
Mine reads: "Please note, for this project, there is no limit on pledge size. This is subject to the project amount remaining which needs to be raised."- with no time limit.
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tallsuk
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Post by tallsuk on Dec 6, 2021 10:59:55 GMT
Hi,
I am new to P2P although the advice here has been very helpful.
The project page fpr me started saying:
" Please note, for this project, pledges will be limited to a maximum of £0 until 10:05am. After 10:05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised".
but now says:
"Please note, for this project, there is no limit on pledge size. This is subject to the project amount remaining which needs to be raised."- with no time limit."
I was not here to know what this issues were on the previous lending platform but I see that CP also mention it. Should I be worried?
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Post by overthehill on Dec 6, 2021 11:23:52 GMT
Hi, I am new to P2P although the advice here has been very helpful. The project page fpr me started saying: " Please note, for this project, pledges will be limited to a maximum of £0 until 10:05am. After 10:05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised". but now says: "Please note, for this project, there is no limit on pledge size. This is subject to the project amount remaining which needs to be raised."- with no time limit." I was not here to know what this issues were on the previous lending platform but I see that CP also mention it. Should I be worried?
Above is just their clunky software and is neither here nor there. Not that I'm giving you advice but if I was, CP has/ will have a fat pipeline of loans and plenty of choice. They haven't come a cropper yet but it's all about avoiding it when it does almost certainly happen.
CP know how to run a project but their analysis of the site's history is laughable. FS lenders were never given a breakdown of where all the money went that resulted in a valuation at a fraction of the money lent, make your own mind up. It had nothing to do with the FS collapse, the truth behind this project and many others were just exposed sooner saving lenders from further exploitation.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Dec 6, 2021 14:20:26 GMT
Hi, I am new to P2P although the advice here has been very helpful. The project page fpr me started saying: " Please note, for this project, pledges will be limited to a maximum of £0 until 10:05am. After 10:05am, you can create pledges larger than £0 or increase the size of your pre-existing pledge. This is subject to the project amount remaining which needs to be raised". but now says: "Please note, for this project, there is no limit on pledge size. This is subject to the project amount remaining which needs to be raised."- with no time limit." I was not here to know what this issues were on the previous lending platform but I see that CP also mention it. Should I be worried?
Above is just their clunky software and is neither here nor there. Not that I'm giving you advice but if I was, CP has/ will have a fat pipeline of loans and plenty of choice. They haven't come a cropper yet but it's all about avoiding it when it does almost certainly happen.
CP know how to run a project but their analysis of the site's history is laughable. FS lenders were never given a breakdown of where all the money went that resulted in a valuation at a fraction of the money lent, make your own mind up. It had nothing to do with the FS collapse, the truth behind this project and many others were just exposed sooner saving lenders from further exploitation.
I don't know anything at all about the FS history behind tomorrow's CP loan that various posters have referred to above. I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks.
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Post by brummiefred on Dec 6, 2021 16:37:26 GMT
p2pfanTry Gainsb******House (FS)- now refinancing on CP This in on page 4 of Funding Secure (FS) in Administration which is the Section below entitled P2x Sites Closed to New Retail Investors
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Dec 6, 2021 16:39:23 GMT
I don't know anything at all about the FS history behind tomorrow's CP loan that various posters have referred to above. I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks. p2pfan Remember this! p2pindependentforum.com/post/431223In Summary, this borrower was a director of company that had an FS loan on the A****** development. The company went bust and the borrower bought the development back from the receiver at a large discount. FS lenders lost c. £1m
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Post by overthehill on Dec 6, 2021 17:10:22 GMT
I don't know anything at all about the FS history behind tomorrow's CP loan that various posters have referred to above. I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks. p2pfan Remember this! p2pindependentforum.com/post/431223In Summary, this borrower was a director of company that had an FS loan on the A****** development. The company went bust and the borrower bought the development back from the receiver at a large discount. FS lenders lost c. £1m
More like 2M, 35% return of capital and no interest except for half of the 14 tranches which were renewed only once to provide momentum for new tranches. One of the worst of the pile of 1st charge loans although there were/will be many 2nd/3rd charge 100% capital losses.
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sussexpeer
Member of DD Central
If you don't make a plan, you'll end up where you're headed.
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Post by sussexpeer on Dec 6, 2021 18:06:22 GMT
Above is just their clunky software and is neither here nor there. Not that I'm giving you advice but if I was, CP has/ will have a fat pipeline of loans and plenty of choice. They haven't come a cropper yet but it's all about avoiding it when it does almost certainly happen.
CP know how to run a project but their analysis of the site's history is laughable. FS lenders were never given a breakdown of where all the money went that resulted in a valuation at a fraction of the money lent, make your own mind up. It had nothing to do with the FS collapse, the truth behind this project and many others were just exposed sooner saving lenders from further exploitation.
I don't know anything at all about the FS history behind tomorrow's CP loan that various posters have referred to above. I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks. Hi p2pfan, I was never a lender with FS so I was very lucky to be unaffected by their collapse. CrowdProperty did their own due diligence with the Gains***ough flats development in Abe*g**e and they are obviously very happy with the builder's credentials. You can read CP's view on the affair here (scroll to the Borrower and Project Team section): www.crowdproperty.com/projects/7479-gainsborough-park-st-georges-road-abergele-ll22-9arI've been investing with CP for 2 years and not had any losses whilst earning 7 to 8% interest. I haven't come across a better P2P platform, but then I am only invested in about 15 different platforms. Regarding the builder, I've never seen any actual evidence that suggests the builder (B***y **ods) was at fault for the original FS project's demise. It seems he made a shrewd move in buying up a part-completed development from the administrators, that he'd invested a lot of time and money into, and which he lost when FS stopped funding tranches and collapsed into administration. He managed to buy back Gains***ough from the admins at a knock-down price, and wanted to finish the development, so fair play to him IMHO. So in a nutshell, I have much faith in CP's DD and no problems with Mr ***ods, so I will be investing tomorrow. As always, YMMV.
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easylender
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Post by easylender on Dec 6, 2021 20:32:06 GMT
I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks. That should be OK as long as you remember to apply the three basic rules of P2P lending, which are: diversify, diversify, and diversify.
Personally I never lend more than 1% of my total P2P capital to any one borrower, and I've often been glad of that.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Dec 7, 2021 0:00:19 GMT
I don't know anything at all about the FS history behind tomorrow's CP loan that various posters have referred to above. I was considering invest a fairly significant sum in tomorrow's loan - as CP's caps mean I can't invest much in other, smaller loans - but now I'm worried about the borrower/development. What was the situation with this development please? Is there a thread on these forums about it I can read up on? Thanks. Hi p2pfan, I was never a lender with FS so I was very lucky to be unaffected by their collapse. CrowdProperty did their own due diligence with the Gains***ough flats development in Abe*g**e and they are obviously very happy with the builder's credentials. You can read CP's view on the affair here (scroll to the Borrower and Project Team section): www.crowdproperty.com/projects/7479-gainsborough-park-st-georges-road-abergele-ll22-9arI've been investing with CP for 2 years and not had any losses whilst earning 7 to 8% interest. I haven't come across a better P2P platform, but then I am only invested in about 15 different platforms. Regarding the builder, I've never seen any actual evidence that suggests the builder (B***y **ods) was at fault for the original FS project's demise. It seems he made a shrewd move in buying up a part-completed development from the administrators, that he'd invested a lot of time and money into, and which he lost when FS stopped funding tranches and collapsed into administration. He managed to buy back Gains***ough from the admins at a knock-down price, and wanted to finish the development, so fair play to him IMHO. So in a nutshell, I have much faith in CP's DD and no problems with Mr ***ods, so I will be investing tomorrow. As always, YMMV. B**** **ods was not the only director of the company that collapsed. There are other director connections to AC #327 and Lendy DFL012, both disasters.
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ton27
Member of DD Central
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Post by ton27 on Dec 7, 2021 10:12:15 GMT
In spite of some misgivings, as expressed on this thread, todays Ab......le loan went very quickly and I missed out on the Self Select bid.;however at 21%+ I got more than I anticipated on the Autoinvest so not disastrous in terms of staying fully invested.
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Post by overthehill on Dec 7, 2021 10:42:18 GMT
In spite of some misgivings, as expressed on this thread, todays Ab......le loan went very quickly and I missed out on the Self Select bid.;however at 21%+ I got more than I anticipated on the Autoinvest so not disastrous in terms of staying fully invested.
There was never any chance of CP being taken to the cleaners, they are too smart for that but it is still a development exit loan which by definition means the project is running late. No idea if it's completed or if any sales have been agreed but I don't think a 66% capital loss is on the cards.
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Post by Ace on Dec 7, 2021 11:03:49 GMT
In spite of some misgivings, as expressed on this thread, todays Ab......le loan went very quickly and I missed out on the Self Select bid.;however at 21%+ I got more than I anticipated on the Autoinvest so not disastrous in terms of staying fully invested.
There was never any chance of CP being taken to the cleaners, they are too smart for that but it is still a development exit loan which by definition means the project is running late. No idea if it's completed or if any sales have been agreed but I don't think a 66% capital loss is on the cards.
The first line of the borrowing proposal states that the development of the 6 apartments funded by the previous loan are complete.
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rocky1
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Post by rocky1 on Dec 7, 2021 12:06:28 GMT
will lenders in first loan now be paid back with this DEL ?.or do we have to wait for part payments as the properties are sold.
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