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Post by lendinvest on May 13, 2014 9:03:21 GMT
Am I being thick (I usually am), but why not simply get the loans to the point when they could draw down immediately, *then* auction them. Most loans get fully funded so there's little chance of the work being wasted. One of the benefits to AC of the present set up is that we are relatively cheap underwriters, if we're taken out of the equation completely then the interest rates for us would drop. But I must agree that having this procedure for bridging loans this would be a way to proceed. j1 - Common thought. ;As I said in my email a few weeks ago, wouldn't it be nice to be able to rid ourselves of the auction process and go straight for performing loan units? ;Would that make a big difference to you? ;Seems to work for LI (or Montello Bridging). LI stands for LendInvest the child of Montello. I didn't receive the email, but I infer that it reiterated Andrew's idea. The above comment started a similar discussion in Epping/IpswichIf all loans were underwritten and we Lenders could only take part in the AM, I'm not completely clear what else would change but the interest rate to us is likely if not certain to drop. Almost all loans fly and if all loans were underwritten I suggest that there still be an auction stage but as all loans are underwritten all our bidding would be to drive down the U/Wers proportion and that Lenders who bid in the auction get a beneficial interest rate while those who buy it in the AM get the face value interest rate which would be 0.1 to 0.25 lower. So bridging loans would still be about 1% in the AM but if you partook in the auction with it's uncertainty of when drawdown you would get 1.1% or 1.25%. (I've not done any maths on these figures, you may suggest your own ) For loans intended to last several years this sort of thing would not be necessary. This would be a small step in evolution for AC.
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Post by lendinvest on May 13, 2014 9:21:10 GMT
Hello all. Nice to see that we (LendInvest) are being mentioned in a positive way quite a bit throughout this thread. Thank you. As you rightly point out, there are no draw down issues for our investors as all loans on our platform have been funded by our primary lender, Montello. This gives our borrowers assurance on three levels 1) Access to cash 2) certainty that the loan will be funded and 3) we'll complete the loan quickly (5-10 days on average). Any faster is not usually required but can be done. From our investors perspective, they're also winning as even with the slightly lower returns (which we expect AC to be offering soon enough as the market becomes more competitive) there is no draw down lag so the net average annualised return is more than likely going to end up around a similar rate. With LendInvest, your committed funds are earning you a solid high single digit return from day 1 on all loans. Please get in touch if you would like to hear more about LendInvest click here. Please keep up the chat about both our platforms (and any others) as we encourage our investors to be active on many platforms and comment about their experiences. It only helps us all build better businesses in the long run. |
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Post by andrewholgate on May 13, 2014 12:01:31 GMT
Slightly naughty of lendinvest to hijack the thread. Christian Faes - I'm watching!! Drawdowns have aver been an issue but I am pleased to say we have substantially increased the team covering this area and we should start to see an improvement. However, lenders worried about that can also use our aftermarket that offers instant returns for lenders. We like the auction process in that it does allow you, the investor, to ask questions about the loan. After all, it's your cash you are investing and you have the right to ask what it is you are getting into. As as always, please contact me directly if you have any questions (andrew@assetzcapital.co.uk) and remember I'm the only MD of the main UK platforms that you can speak to directly either here on the forum or via email. I plan on continuing to be accessible to you. Andrew |
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Post by Ton ⓉⓞⓃ on May 13, 2014 13:43:41 GMT
I think it would be great if all the Reps of the different p2p would fight it out on a thread somewhere neutral. Perhaps in the TEST area we could set up a boxing ring.I might learn some more new words like, aver. |
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Post by Ton ⓉⓞⓃ on May 13, 2014 14:09:06 GMT
I think it would be great if all the Reps of the different p2p would fight it out on a thread somewhere neutral. Perhaps in the TEST area we could set up a boxing ring.I might learn some more new words like, aver. We need the underwriting of LendInvest, the IT of AC, the variety of TC, the rate of new loans of FC and the history of ZOPA. That would be an astonishing business! I'm trying to think what we would name it.... What ever we called it; it would have to have a "C" as one of it's initials.
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Post by batchoy on May 13, 2014 14:15:20 GMT
Hello all. Nice to see that we (LendInvest) are being mentioned in a positive way quite a bit throughout this thread. Thank you. As you rightly point out, there are no draw down issues for our investors as all loans on our platform have been funded by our primary lender, Montello. This gives our borrowers assurance on three levels 1) Access to cash 2) certainty that the loan will be funded and 3) we'll complete the loan quickly (5-10 days on average). Any faster is not usually required but can be done. From our investors perspective, they're also winning as even with the slightly lower returns (which we expect AC to be offering soon enough as the market becomes more competitive) there is no draw down lag so the net average annualised return is more than likely going to end up around a similar rate. With LendInvest, your committed funds are earning you a solid high single digit return from day 1 on all loans. Please get in touch if you would like to hear more about LendInvest click here. Please keep up the chat about both our platforms (and any others) as we encourage our investors to be active on many platforms and comment about their experiences. It only helps us all build better businesses in the long run. You'll need to go to the LendInvest topic elsewhere and answer some of the long unanswered questions there before I'd be ready to consider LendInvest... p2pindependentforum.com/thread/56/feedback?page=2Seconded. Particularly since according to LendInvest's Ts&Cs I'm not eligible to to invest.
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bugs4me
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Post by bugs4me on May 13, 2014 15:52:54 GMT
Seconded. Particularly since according to LendInvest's Ts&Cs I'm not eligible to to invest. Sounding lazy but which bit of the T&C's exclude you?
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Post by batchoy on May 13, 2014 16:43:57 GMT
Seconded. Particularly since according to LendInvest's Ts&Cs I'm not eligible to to invest. Sounding lazy but which bit of the T&C's exclude you? I don't meet any of the criteria in 2.1 (b)(iii) (1) to (4) hence I am not eligible to be come a lender, nor I expect are a great many of the people who lend on AC which makes any comments lendinvest makes on AC's board about how much better their loans are because there are no draw down delays so much b******t.
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andy2001
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Post by andy2001 on May 13, 2014 16:50:42 GMT
Sounding lazy but which bit of the T&C's exclude you? I don't meet any of the criteria in 2.1 (b)(iii) (1) to (4) hence I am not eligible to be come a lender, nor I expect are a great many of the people who lend on AC which makes any comments lendinvest makes on AC's board about how much better their loans are because there are no draw down delays so much b******t. Just looked at there site and there current offerings are only 6.5%, and 7% interest rate, so I'm not to bothered about not being allowed to invest there.
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bugs4me
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Post by bugs4me on May 13, 2014 16:52:58 GMT
Sounding lazy but which bit of the T&C's exclude you? I don't meet any of the criteria in 2.1 (b)(iii) (1) to (4) hence I am not eligible to be come a lender, nor I expect are a great many of the people who lend on AC which makes any comments lendinvest makes on AC's board about how much better their loans are because there are no draw down delays so much b******t. Okay. They do seem to be more active on this AC section rather than their own. Oh well......
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Post by batchoy on May 13, 2014 17:02:11 GMT
I don't meet any of the criteria in 2.1 (b)(iii) (1) to (4) hence I am not eligible to be come a lender, nor I expect are a great many of the people who lend on AC which makes any comments lendinvest makes on AC's board about how much better their loans are because there are no draw down delays so much b******t. Just looked at there site and there current offerings are only 6.5%, and 7% interest rate, so I'm not to bothered about not being allowed to invest there. and let's not forget AC have a minimum investment of £20 whilst LI's is £10,000.
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j
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Post by j on May 13, 2014 19:59:18 GMT
We need the underwriting of LendInvest, the IT of AC, the variety of TC, the rate of new loans of FC and the history of ZOPA. If only dreams came true  Get them all & you'll have the perfect p2p
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bigfoot12
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Post by bigfoot12 on May 14, 2014 15:21:36 GMT
We might get the minimum size of LendInvest, the (current) volume of AC, the IT of TC, the default rate of FC and the openness of ZOPA.
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Get them all & you'll have the perfect p2p