agent69
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Post by agent69 on Jan 20, 2014 18:55:15 GMT
which make them unattractive in my view. But not to the man that just put £89k into TLC 17!
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Post by bracknellboy on Jan 21, 2014 8:57:01 GMT
But not to the man that just put £89k into TLC 17! yes that is interesting. Why specifically £89k and not £90k is what crossed my mind. Also: why the assumption on the gender ? I would personally have thought that if you had £90k (sic) to dump in you'd probably want to be selective on the investments and not throw into a TLC. Just my view. on the other hand, given the username involved, maybe its someone that has a pot of money that needs laundering, and has only very restricted access to the internet. [all said in jest of course]
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Post by tybalt on Jan 21, 2014 18:33:32 GMT
£k 89 plus point it is a fast way of spreading your investment over a few loans without having to logon for the next three months and I did spend two months without reliable internet contact last year.
Otherwise 0.5% seems a heck of a cost
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agent69
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Post by agent69 on Feb 9, 2014 10:52:23 GMT
Having gotten over the Christmas rush, things still look a little flat with loans continuing to struggle to fill. Is this due to poor quality loans, poor returns on offer or a lack of cash available.
I've got a bit of cash spare that I was looking to put into TC, but nothing has taken my fancy recently.
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Post by mietek on Feb 9, 2014 11:29:54 GMT
What are you looking for? What do you not like about the loans on the platform currently?
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Post by mrclondon on Feb 9, 2014 20:35:57 GMT
What are you looking for? What do you not like about the loans on the platform currently? Given the £1k minimum bid I'm looking for asset backed security to max LTV of 70% being offered as fixed rate auctions, coupled with a business plan than makes sense (to me) to minimise the chance of lost interest whilst the security is realised as cash. NOT unsupported PG's. NOT loss making companies. NOT companies with negative shareholder funds. NOT companies with intangibles that tip them into negative net worth. I've gone for just one of the loans so far this year. However I think the main problem is simply the loss of confidence in the platform, which will either be restored if usable software is finally delivered in the next few months, or the platform will simply wither. The growth targets for 2014 are IMO simply unrealistic given our understanding that the GUI will remain largely as is which I feel will put most potential lenders off before they've started even if the crippled performance is resolved.
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shimself
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Post by shimself on Feb 9, 2014 21:54:22 GMT
Given the £1k minimum bid I'm looking for asset backed security to max LTV of 70% being offered as fixed rate auctions, coupled with a business plan than makes sense (to me) to minimise the chance of lost interest whilst the security is realised as cash. NOT unsupported PG's. NOT loss making companies. NOT companies with negative shareholder funds. NOT companies with intangibles that tip them into negative net worth. I've gone for just one of the loans so far this year. Yes, the only one I've gone for this year has been the T** F** 2 year 11%, the 2 years being key.
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Post by mrclondon on Feb 9, 2014 22:56:15 GMT
Yes, the only one I've gone for this year has been the T** F** 2 year 11%, the 2 years being key. Ah, I hadn't spotted the second loan is 2 year IO ... I had just assumed it was on the same odd 5 year IO + amortization profile of the first one. I'll take another look at this tomorrow.
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Post by bracknellboy on Feb 10, 2014 7:23:28 GMT
Be interested on others thoughts on TF 2. I'm not so sure it passes the good security test, and I find it really difficult to understand the usury rates on their existing finance.
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pikestaff
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Post by pikestaff on Feb 10, 2014 8:31:14 GMT
What are you looking for? What do you not like about the loans on the platform currently? Given the £1k minimum bid I'm looking for asset backed security to max LTV of 70% being offered as fixed rate auctions, coupled with a business plan than makes sense (to me) to minimise the chance of lost interest whilst the security is realised as cash. NOT unsupported PG's. NOT loss making companies. NOT companies with negative shareholder funds. NOT companies with intangibles that tip them into negative net worth. I've gone for just one of the loans so far this year. However I think the main problem is simply the loss of confidence in the platform, which will either be restored if usable software is finally delivered in the next few months, or the platform will simply wither. The growth targets for 2014 are IMO simply unrealistic given our understanding that the GUI will remain largely as is which I feel will put most potential lenders off before they've started even if the crippled performance is resolved. It sounds like you want to be in Assetz. I have some money there, and would like to have more (if only I could get it invested) but I don't want to have too many eggs in the property basket. I would like there to be more better secured loans on TC, but when they do appear they often struggle to fill because most lenders don't like the lower rates. I agree that TC is overweight in business turnaround situations, which is inevitable while Ludgate Finance remain by far their largest sponsor, but I am happy to have some of those in the mix too. (I am selective but I happen to like T***** F****. Time will tell...) Re software/GUI, I think the GUI will feel much better once the speed has been sorted out. Then perhaps we can start a new thread . Although it has its foibles it does give us a lot of information. I prefer that to Assetz' minimalist approach.
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Post by tybalt on Feb 10, 2014 9:51:50 GMT
Be interested on others thoughts on TF 2. I'm not so sure it passes the good security test, and I find it really difficult to understand the usury rates on their existing finance. Same thing I thought about TF 1. The MDs too soft probably a decent bloke horrid rate on borrowings. The stock came out of nowhere and I don't understand why they need to hold stock not for me
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Post by mrclondon on Feb 10, 2014 14:11:48 GMT
Be interested on others thoughts on TF 2. I'm not so sure it passes the good security test, and I find it really difficult to understand the usury rates on their existing finance. Agreed. The increase in the total TC loan provision has tipped the LTV to c.110% and even that includes an unsupported PG. Re-reading TF1 reminds me why I rejected this one first time round. Too many if's. And yes being forced to take bridging finance at 54% pa (or even at the future rate of 36% pa) smacks of desperation, and confirms the lack of underlying value in the business to offer as security. TF1+TF2 only reduce the £600k loan by £160k which means if cash flow projections are too optimistic there will be insufficient cash to further reduce the £440k @ 36% pa loan which could lead to a vicious circle once again. My conclusion - 11% is far too low for the risks.
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agent69
Member of DD Central
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Post by agent69 on Feb 10, 2014 18:33:21 GMT
What are you looking for? What do you not like about the loans on the platform currently? I don't think that me giving a list of my gripes with each loan is going to help (unless you can magic up some extra security from somewhere). I'm no financial expert but I do pay attention to issues raised by other more learned lenders. As an example I was drawn by comments made on the first timber loan which appeared to summarize the situation nicely: 1. Long capital repayment holiday at the start - requires extra trust and confidence 2. PG only covers a small fraction of the loan 3. Company has negative net worth 4. Borrower reserves the right to borrow more later and make old loan and new loan pari passu. I hate these type of arrangement. I have no control over the degree to which my security gets diluted later for the benefit of others. Combined with 1. this makes for a total no-no in my books 5. Current liabilities have exceeded current assets for many years.Doesn't sound like my type of loan!
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Post by aldo on Mar 14, 2014 8:26:22 GMT
<snip> Moderated
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Post by bracknellboy on Mar 14, 2014 8:32:17 GMT
Aldo: you have recently been sent a Personal Message PM by the board admin regarding your posts. You will note that your prior posts were removed. As this new post has gone up about 2 minutes after the PM was sent to you, I suspect we will consider it as having happened before the PM was sent. Please access your 'messages' if you have not yet read it.
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