|
|
Post by captainconfident on Jul 20, 2023 17:59:17 GMT
Rollover of an earlier loan. I** was 22 months into a 60 month loan and had a perfect repayment record.
I** M**** Ltd
Loan requirement £185 500
Interest rate 13%
Duration: 60 months
Security and 68% LTV
Funding open until 1/8/23
Previous loan had PG support only. This one has 2nd charge on primary residence.
As one of the forum's two Rebs fans, I've been poking a stick at this one with interest without committing yet.
"We produce content that is aimed at VOD distributors – you will know them as Netflix, Amazon Prime, Apple TV etc.
This sector is the fastest growing entertainment sector in the world, will eventually replace cinema and terrestrial TV and has an ever increasing appetite for new content."
There is solid evidence of them doing this and they seem like a worthy fast growing young company. Plausible pipeline of new projects. The danger is that they bite off more than they can chew during the life of the loan. But seems like the kind of business area that would survive a downturn.
|
|
|
|
Post by df on Jul 22, 2023 18:07:29 GMT
Rollover of an earlier loan. I** was 22 months into a 60 month loan and had a perfect repayment record. I** M**** Ltd Loan requirement £185 500 Interest rate 13% Duration: 60 months Security and 68% LTV Funding open until 1/8/23 Previous loan had PG support only. This one has 2nd charge on primary residence. As one of the forum's two Rebs fans, I've been poking a stick at this one with interest without committing yet. " We produce content that is aimed at VOD distributors – you will know them as Netflix, Amazon Prime, Apple TV etc.
This sector is the fastest growing entertainment sector in the world, will eventually replace cinema and terrestrial TV and has an ever increasing appetite for new content." There is solid evidence of them doing this and they seem like a worthy fast growing young company. Plausible pipeline of new projects. The danger is that they bite off more than they can chew during the life of the loan. But seems like the kind of business area that would survive a downturn. It's a second helpings to replace the previous loan asking for a significantly larger sum. The repayment record looks good. It's always been a struggle for Rebs to fund loans of this size, lack of investors on the platform, I think. I like Rebs. I've been with them since March 2017. My XIRR is 13.37%, despite the defaults this figure was always steadily growing. They've never been greedy (i.e. massive growth ambitions), the rates/risk ratio is very good and Rebs survived Covid without any drama. Loan flow was always slow, but enough to build a reasonable portfolio over time. I like amortised SME loans - there were a number of platforms offering them, but they've all gone. Rebs is the only one that survived. If I'm not mistaken, there are only two, Rebs and Qardus offering this type of loans today.
|
|
|
|
Post by captainconfident on Jul 23, 2023 7:24:01 GMT
Thanks for replying df. I think you and I are the only Rebs investors here! I had a call from a most amiable Rebs representative about this loan. They asked among other things how to get people to increase their confidence, hence their investment size, in Rebs. He said in other words that 'we are profitable and of course most of the investment activity is done direct by the company rather than offered to the investment base'. Which explained to me how the platform could exist for ten years with such a low volume of loans. Rebs was badgered a lot in the early days to get security to support their loans, as originally it was mostly practically unsecured lending at 20%. This was when platforms like Lendy were on the up with 15% secured loans. Why risk Rebs if you could get that? I don't need to say more about the outcome. I'd prefer Rebs to go back to lending to start-ups and high risk companies at higher interest, as this model did in fact work on aggregate for investors, ie Rebs was providing last resort finance for companies where the greater number pulled through. But I see that this current investment is one of these companies who now seems to be on the up with a solid project pipeline in an industry that is growing . |
|
|
|
Post by df on Jul 23, 2023 17:10:16 GMT
Thanks for replying df . I think you and I are the only Rebs investors here! I had a call from a most amiable Rebs representative about this loan. They asked among other things how to get people to increase their confidence, hence their investment size, in Rebs. He said in other words that 'we are profitable and of course most of the investment activity is done direct by the company rather than offered to the investment base'. Which explained to me how the platform could exist for ten years with such a low volume of loans. Rebs was badgered a lot in the early days to get security to support their loans, as originally it was mostly practically unsecured lending at 20%. This was when platforms like Lendy were on the up with 15% secured loans. Why risk Rebs if you could get that? I don't need to say more about the outcome. I'd prefer Rebs to go back to lending to start-ups and high risk companies at higher interest, as this model did in fact work on aggregate for investors, ie Rebs was providing last resort finance for companies where the greater number pulled through. But I see that this current investment is one of these companies who now seems to be on the up with a solid project pipeline in an industry that is growing . Yes, we probably are the only two on here  I had a call too and we had a nice chat... took me a while to get what **building society is calling me (I'm a member of many building societies Prior to joining Rebs I've read a lot of very negative reviews so decided to stay very low with this platform. Treated it as a very risky extension to my larger FC's portfolio, later realised that an average 20% loan on FC is far more riskier than on Rebs. There aren't many p2p platforms that I'm actively investing with left in my portfolio, Rebs is one of those I'm not planning to give up. And it's not very difficult to sell out if I wanted to. I've over-invested in some loans by mistake and selling at 0.5% premium that covers the fee was instant.
|
|
|
|
Post by captainconfident on Jul 23, 2023 17:29:56 GMT
Thanks for replying df . I think you and I are the only Rebs investors here! I had a call from a most amiable Rebs representative about this loan. They asked among other things how to get people to increase their confidence, hence their investment size, in Rebs. He said in other words that 'we are profitable and of course most of the investment activity is done direct by the company rather than offered to the investment base'. Which explained to me how the platform could exist for ten years with such a low volume of loans. Rebs was badgered a lot in the early days to get security to support their loans, as originally it was mostly practically unsecured lending at 20%. This was when platforms like Lendy were on the up with 15% secured loans. Why risk Rebs if you could get that? I don't need to say more about the outcome. I'd prefer Rebs to go back to lending to start-ups and high risk companies at higher interest, as this model did in fact work on aggregate for investors, ie Rebs was providing last resort finance for companies where the greater number pulled through. But I see that this current investment is one of these companies who now seems to be on the up with a solid project pipeline in an industry that is growing . Yes, we probably are the only two on here I had a call too and we had a nice chat... took me a while to get what **building society is calling me (I'm a member of many building societies Prior to joining Rebs I've read a lot of very negative reviews so decided to stay very low with this platform. Treated it as a very risky extension to my larger FC's portfolio, later realised that an average 20% loan on FC is far more riskier than on Rebs. There aren't many p2p platforms that I'm actively investing with left in my portfolio, Rebs is one of those I'm not planning to give up. And it's not very difficult to sell out if I wanted to. I've over-invested in some loans by mistake and selling at 0.5% premium that covers the fee was instant. I've been quote lively buying on the secondary market. A lot of these risky proposition have built up solid records over the pay back years and look increasingly good bets. The 'buyer protection' is quite a novel idea, and as long as the rate is still 10%+, I'm ok with handing over 15% to the seller for this, so I've built up some quite large positions. Not in that property loan that is currently in default though. I got caught with my pants down a bit there! Eventually, I went big on the last loan, "the island loan". about 5x more than I ever put in a Rebs loan before. That had a 40% LTV. This one is higher. How many time bigger than your normal stake would you put in I** M****? I will invest once I've decided this, and grudgingly transferred in from the old loan because I'd developed quite a large 'buyer protected' stake in that, which I now lose (the protection of).
|
|
