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Post by overthehill on Jul 28, 2022 14:42:18 GMT
There's about £32k available as I type on a CP loan paying 7.1%. There's still availability, currently £36k. But many people - including myself - don't want to lend their money to fund this 'Grand Designs' pet project in an extremely rural location. It has been given a GDV of an eye-watering £2,540,000 but might be worth circa 25 pence during the forthcoming recession.
Read it before investing. Basically a refinance of their existing development loan which needed more money. I'm assuming the interest rate didn't change so more risk for same return.
Fail to see how these projects are taking advantage of the chronic shortage of housing. A number of high risk and return (not the investor) projects over the past year have sky high GDVs as interest rates are about to rocket!
Don't know the current state of late / default loans, I imagine it is getting slowly worse. One advantage of being an auto-investor.
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easylender
Member of DD Central
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Post by easylender on Jul 28, 2022 20:07:09 GMT
The 2 properties are stated as being a bit over 7,000 sqft each. I think it's been at least a year since CP stopped the videos. One thing I don't understand on this one is why they say that "The interest will be retained and paid upon exit of the loan". Surely it they are holding the interest it should be paid out monthly. Perhaps it's a typo! It's now been reworded to say "The interest will be rolled up and paid upon exit of the loan, with lenders receiving 7.3% per annum equivalent."
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Post by Ace on Sept 13, 2022 17:09:56 GMT
I'm fairly sure that I'd set the skip-next-loan in two different accounts yesterday ready to skip today's loan, but I got an allocation in both of those accounts. It's no problem as I have now cancelled the allocation in both accounts, but I wondered if anyone else has had this issue.
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Post by overthehill on Sept 13, 2022 17:37:07 GMT
I'm fairly sure that I'd set the skip-next-loan in two different accounts yesterday ready to skip today's loan, but I got an allocation in both of those accounts. It's no problem as I have now cancelled the allocation in both accounts, but I wondered if anyone else has had this issue.
Its been a while since I invested or had a loan pay back. Every time I login there always seems to be a top-up loan now. If that's a stretch then it's probably due to the ever increasing total capital of active loans.
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p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Sept 13, 2022 20:22:30 GMT
I'm fairly sure that I'd set the skip-next-loan in two different accounts yesterday ready to skip today's loan, but I got an allocation in both of those accounts. It's no problem as I have now cancelled the allocation in both accounts, but I wondered if anyone else has had this issue. Yes, I suffered exactly this problem. I didn't want to lend to today's low paying loan when there were superior paying ones over the next few days. But I still got allocated an auto-invest investment in it. I don't trust CP's technology one jot and so, a few hours after today's loan launched, I checked to confirm I hadn't been allocated a share and was shocked to see I had. So I rejected it manually. I haven't even bothered to report it to CP because I have probably wasted 10+ unpaid hours of my time over the years contacting CP about one technical error after another. They don't care.
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Post by Ace on Sept 13, 2022 20:33:05 GMT
I'm fairly sure that I'd set the skip-next-loan in two different accounts yesterday ready to skip today's loan, but I got an allocation in both of those accounts. It's no problem as I have now cancelled the allocation in both accounts, but I wondered if anyone else has had this issue. Yes, I suffered exactly this problem. I didn't want to lend to today's low paying loan when there were superior paying ones over the next few days. But I still got allocated an auto-invest investment in it. I don't trust CP's technology one jot and so, a few hours after today's loan launched, I checked to confirm I hadn't been allocated a share and was shocked to see I had. So I rejected it manually. I haven't even bothered to report it to CP because I have probably wasted 10+ unpaid hours of my time over the years contacting CP about one technical error after another. They don't care. Thanks, I totally agree. They usually politely thank me for pointing issues out then go on to completely ignore them, sometimes for years. It's clear that they don't have the will or the staff to address the many platform issues. I can't even be bothered to tag them on here, it's just a waste of time.
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zlb
Member of DD Central
Posts: 1,412
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Post by zlb on Oct 7, 2022 17:37:53 GMT
I'm fairly sure that I'd set the skip-next-loan in two different accounts yesterday ready to skip today's loan, but I got an allocation in both of those accounts. It's no problem as I have now cancelled the allocation in both accounts, but I wondered if anyone else has had this issue. I've turned reinvesting off three times and then found it was switched on. I now log in if I remember, to check.
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Post by Badly Drawn Stickman on Oct 13, 2022 13:36:56 GMT
Looks to me like todays loan is still a bit short of filling, but only just. That would suggest there is still a lot of keen investors.
I have not been investing for a few months now, started off just skipping anything with phase in the heading (which was pretty much all) and then decided it really was the wrong time to be putting any money into property loans.
As mentioned above though, they do have a tendency to ignore autoinvest being switched off and utilise any funds that have been repaid (becoming more of a rarity recently) so I have had to add it to my daily list to remove all funds.
With the rates becoming more uncompetitive with risk by the day, I wonder how much longer they can rely on loans funding quickly if at all.
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Post by Ace on Oct 13, 2022 13:39:55 GMT
Looks to me like todays loan is still a bit short of filling, but only just. That would suggest there is still a lot of keen investors. I have not been investing for a few months now, started off just skipping anything with phase in the heading (which was pretty much all) and then decided it really was the wrong time to be putting any money into property loans. As mentioned above though, they do have a tendency to ignore autoinvest being switched off and utilise any funds that have been repaid (becoming more of a rarity recently) so I have had to add it to my daily list to remove all funds. With the rates becoming more uncompetitive with risk by the day, I wonder how much longer they can rely on loans funding quickly if at all. It was filled earlier, so I guess the availability is due to some auto-investors cancelling their pledges.
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Post by Badly Drawn Stickman on Oct 13, 2022 13:54:38 GMT
Looks to me like todays loan is still a bit short of filling, but only just. That would suggest there is still a lot of keen investors. I have not been investing for a few months now, started off just skipping anything with phase in the heading (which was pretty much all) and then decided it really was the wrong time to be putting any money into property loans. As mentioned above though, they do have a tendency to ignore autoinvest being switched off and utilise any funds that have been repaid (becoming more of a rarity recently) so I have had to add it to my daily list to remove all funds. With the rates becoming more uncompetitive with risk by the day, I wonder how much longer they can rely on loans funding quickly if at all. It was filled earlier, so I guess the availability is due to some auto-investors cancelling their pledges. What is their strategy in that instance then, wait for passing strangers to top it up or rerun autoinvest to take more from the people with high settings? I am guessing the latter initially.
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Post by Ace on Oct 13, 2022 14:02:00 GMT
It was filled earlier, so I guess the availability is due to some auto-investors cancelling their pledges. What is their strategy in that instance then, wait for passing strangers to top it up or rerun autoinvest to take more from the people with high settings? I am guessing the latter initially. I believe it's the former, though I think the latter may have occurred once or twice. They tend to hang around for up to a working day then get miraculously filled. I suspect they have institutional investors who are happy to mop up any surplus if needed. All supposition, as they seem to like to keep things opaque.
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Post by overthehill on Dec 15, 2022 16:24:47 GMT
CrowdProperty agrees loan via Brickflow’s new DIP broker product in 2 hours. Not sure what to make of this?
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Post by Ace on Dec 15, 2022 17:02:55 GMT
CrowdProperty agrees loan via Brickflow’s new DIP broker product in 2 hours. Not sure what to make of this?
It only provides a Decision In Principle, so bound to be plenty of caveats to back out if the deal is not what it seemed when a closer look is taken. It's probably a good thing as it will filter deals CP's way and will reject those that would otherwise waste time.
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Post by Penny Pincher on Jan 12, 2023 16:07:48 GMT
There were two projects with similar interest rates funded this morning; a £480k phase 6 project at 10:00am and a smaller £270k phase 1 project at 10:10am. I had more than sufficient funds in my AutoInvest to cover two pledges but I didn't want to pledge for the 10:10 project. As I was unavailable at 10am I couldn't activate the 'skip next project' feature so I planned to cancel the unwanted pledge. However I only got one pledge and, guess what, it was for the project that I didn't want! This leads me to ask a few questions; - What AutoInvest allocations did other forum members get this morning?
- Does anyone have a strategy for targeting the first project when two are launched on the same day?
- Why might I have been overlooked for the first project?
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Post by Ace on Jan 12, 2023 16:36:34 GMT
There were two projects with similar interest rates funded this morning; a £480k phase 6 project at 10:00am and a smaller £270k phase 1 project at 10:10am. I had more than sufficient funds in my AutoInvest to cover two pledges but I didn't want to pledge for the 10:10 project. As I was unavailable at 10am I couldn't activate the 'skip next project' feature so I planned to cancel the unwanted pledge. However I only got one pledge and, guess what, it was for the project that I didn't want! This leads me to ask a few questions; - What AutoInvest allocations did other forum members get this morning?
- Does anyone have a strategy for targeting the first project when two are launched on the same day?
- Why might I have been overlooked for the first project?
My strategy would be to do exactly what you mentioned. It's certainly worked for me in the past. Perhaps they changed their mind about the first and filled it with institutional funds, but I've never seen that before. I only wanted the second loan today, so I set Skip Next for the first and it worked as normal.
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