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Post by overthehill on Nov 14, 2021 14:31:05 GMT
Stick to your maximum per loan/borrower regardless of the loan size, 10k or 100k.
Diversification at a level you can afford to lose or stomach is the key to managing risk and preventing unpleasant outcomes. Certainly saved me a few bob with Fundingsecure and would have been more if not for the deceit behind concealing given information like 'does the borrower have any other loans?' .
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Post by df on Nov 14, 2021 21:16:21 GMT
The cheapest I could find was over £190k, & that wasn't new Bid limit on this one could be interesting I've had a quick look and found similar results. I have to say Danny's in-house valuations are far more accurate than RICS  I don't think there will be a bid limit It will be a challenge for CL to fill a loan of this size.
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Post by df on Nov 14, 2021 21:36:20 GMT
Stick to your maximum per loan/borrower regardless of the loan size, 10k or 100k.
Diversification at a level you can afford to lose or stomach is the key to managing risk and preventing unpleasant outcomes. Certainly saved me a few bob with Fundingsecure and would have been more if not for the deceit behind concealing given information like 'does the borrower have any other loans?' .
Very true. Most of my expected p2p losses come from breaking this rule.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Nov 14, 2021 22:31:39 GMT
The cheapest I could find was over £190k, & that wasn't new Bid limit on this one could be interesting I've had a quick look and found similar results. I have to say Danny's in-house valuations are far more accurate than RICS I don't think there will be a bid limit It will be a challenge for CL to fill a loan of this size. Maybe? but got to start up scaling at some point. This is Quite a jump but.....
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dh1
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Post by dh1 on Nov 15, 2021 12:41:00 GMT
Apparently, it's being launched at 10am on Tuesday 15th November 2021. As the next Tuesday 15th November isn't until 2022, there's plenty of time to save up for this one!
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Post by Penny Pincher on Nov 15, 2021 13:07:14 GMT
Stick to your maximum per loan/borrower regardless of the loan size, 10k or 100k.
Diversification at a level you can afford to lose or stomach is the key to managing risk and preventing unpleasant outcomes. Certainly saved me a few bob with Fundingsecure and would have been more if not for the deceit behind concealing given information like 'does the borrower have any other loans?' .
Also, the fact that the image of the watch clearly wasn't taken in-house, makes me a little uneasy. Seeing a photograph of the security that clearly matches its description, taken in front of the distinctive background, gives me added confidence that CL have possession of the security.
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Post by df on Nov 15, 2021 15:59:14 GMT
Apparently, it's being launched at 10am on Tuesday 15th November 2021. As the next Tuesday 15th November isn't until 2022, there's plenty of time to save up for this one! The loan has disappeared, can't find it anywhere on platform. It must have been withdrawn.
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firedog
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Post by firedog on Nov 15, 2021 16:12:54 GMT
au contraire...
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Post by Penny Pincher on Nov 15, 2021 16:20:27 GMT
Beware, this loan has been declared as the same borrower as two other loans. Although the borrower ID is different to those other loans!
It's probably an administrative error and it has been declared in the Asset Description but an investor who checks borrower IDs might overlook this.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Nov 15, 2021 16:24:41 GMT
With a added devilish temptation. "Bonus rate offered on this loan.
Where the investment is of £20,000 or greater in a single tranche or over a combination of tranches, the lender will earn 16%p.a. on the total investment."overthehill its like you knew? |
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trium
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Post by trium on Nov 15, 2021 16:46:39 GMT
Logically, if you were going to pitch for the 20k you'd stick to Tranche A if you could and only go for B/C if you had to. That seems a very generous bonus - 10‰ uplifted to 16%. Me, I'll be following overthehill 's advice and sticking with my usual £250 |
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Post by connectivelending on Nov 15, 2021 18:32:47 GMT
Dear All,
Thanks for comments relating to our valuations. I just wanted to confirm that in regard to the comparisons users found on the Patek 5724 watch that the ones you will have seen at £190k do not have box and papers so if you filter to "with Original Box and Papers" you will find the lowest on that platform is about £209k.
I notice the comments about the borrower having more than one loan so I just wanted to reiterate that to consider risk please focus on the asset. Can it be sold in a reasonable timeframe and is there enough equity to cover, at the very minimum, your capital and your interest?
Defaulted loans, when the asset is valued correctly, should never really be a cause for concern.
Thanks again for all of your support.
Danny Grimes
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Post by overthehill on Nov 15, 2021 18:40:58 GMT
Beware, this loan has been declared as the same borrower as two other loans. Although the borrower ID is different to those other loans! It's probably an administrative error and it has been declared in the Asset Description but an investor who checks borrower IDs might overlook this.
WHAT ?! Thanks for the alert, it looks like the Borrower ID is now synced and fixed. Anybody interested in a status symbol if it goes to auction in 6 months ?
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Post by df on Nov 15, 2021 20:17:29 GMT
Two large loans simultaniously... I guess this time I won't need to be there on the dot to get into my preferred tranches It will be interesting to watch how long it will take for fill these two. I think it will depend on how many souls are willing to chuck 20k into a single loan... I hope it goes well, best of luck connectivelending |
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Post by Badly Drawn Stickman on Nov 15, 2021 20:27:27 GMT
Two large loans simultaniously... I guess this time I won't need to be there on the dot to get into my preferred tranches It will be interesting to watch how long it will take for fill these two. I think it will depend on how many souls are willing to chuck 20k into a single loan... I hope it goes well, best of luck connectivelending Looks like just the one to me. It has grown £5000 by the looks of it. I suppose the interesting question is what happens if it does not fill. I would be a very long way from £20,000 for sure but would not like even a small sum to be stuck earning nothing for any length of time.
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