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Post by pepperpot on Mar 12, 2016 20:52:30 GMT
Maybe if you do something similar like what broadoak do on MT i.e 5% first loss would make a few more interested on the rate offered as would reduce the risk even more. We are currently exploring this option for the new product as the proposed structure would allow this. It is not something we can do with the current product on the FE site as we are not using our own cash to lend.* *Will it be 36H compliant? We probably should just wait for the email entitled "Exciting New Plans" to be sent out rather than asking for titbits of info!!!  Just can't help it though...
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Post by parag on Mar 12, 2016 21:00:13 GMT
We are currently exploring this option for the new product as the proposed structure would allow this. It is not something we can do with the current product on the FE site as we are not using our own cash to lend. That is good to hear on the new product as I do like the broadoak one as it gives extra security and they carry the same risk. It will also have a mandatory provision fund as opposed to a discretionary provision fund. That point is confirmed already.
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Post by parag on Mar 12, 2016 21:00:50 GMT
We are currently exploring this option for the new product as the proposed structure would allow this. It is not something we can do with the current product on the FE site as we are not using our own cash to lend.* *Will it be 36H compliant? We probably should just wait for the email entitled "Exciting New Plans" to be sent out rather than asking for titbits of info!!! Just can't help it though... Yes it will be fully Article 36H compliant.
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alanp
Member of DD Central
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Post by alanp on Mar 13, 2016 20:42:58 GMT
I like the amortising loans as the amount at risk reduces each month but prefer shorter terms than this one (and a higher rate). Interest Only (IO) loans avoid "un-invested cash" and so boost your overall rate of return but I wouldn't go for an IO loan that was for >12 months and 6 is preferred.
The current offerings are a good diversifier to the many property dominated sites out there. If going forward there will be property loans on offer the trick will be to differentiate from being the same as the competition.
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ben
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Post by ben on Mar 15, 2016 17:55:49 GMT
Have you had enough response for this loan ?
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Post by parag on Mar 15, 2016 18:23:19 GMT
ben We went back to the borrower as the majority of feedback was around the rate not being quite high enough for them to dig deep. We will be emailing lenders over the next day or so to get their views on the increased rate on offer.
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ben
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Post by ben on Mar 28, 2016 12:31:41 GMT
ben We went back to the borrower as the majority of feedback was around the rate not being quite high enough for them to dig deep. We will be emailing lenders over the next day or so to get their views on the increased rate on offer. Did anything become of this ? I must have must missed the email
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Post by parag on Mar 28, 2016 15:40:27 GMT
ben The borrower agreed to a higher rate of 10.5%. We are currently running it through the credit assessment process after which, all being well, we will email lenders to let them know about the higher rate on offer and when it will be listed. We didn't want to email lenders again, with the higher rate on offer, before we knew the result of the credit assessment process.
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ben
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Post by ben on Mar 28, 2016 16:07:48 GMT
sounds good suppose I had better start looking behind my poor sofa or raid my sons piggy bank
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Post by loanstar on Mar 29, 2016 22:15:54 GMT
Also interested in the progress being made. There are a number of offers around with a LTV in the region of 65% to 70% and a rate of 11% to 13%. The figure of 10.5% with the much lower LTV would make this offer different and IMHO attractive.
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ben
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Post by ben on Jun 1, 2016 12:18:50 GMT
Any more news on this new account?
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kaya
Member of DD Central
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Post by kaya on Dec 21, 2016 10:51:20 GMT
Full marks to Funding Empire on the continuing lovely clean loanbook.  Will there be news of your plans for next year coming soon? Just checking that you are still alive parag |
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Post by parag on Feb 23, 2017 13:41:02 GMT
kaya Hi. Yes, still alive but only just about - having twins has nearly killed me off! We will update you as soon as we can. We are in the final phase of our FCA application after which I will be able to communicate our plans with all investors.
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Just can't help it though... 
