clg84
New Member
Posts: 2
|
Post by clg84 on May 13, 2016 9:54:22 GMT
Does anyone have any reviews (good or bad!) about Proplend? I am looking to invest SSAS monies and looking for a suitable platform. Although the website reads well, I can't actually find many reviews
|
|
|
Post by mrclondon on May 13, 2016 12:25:25 GMT
This AltFi article at the beginning of April reported that they had failed to report any loan origination during Q1 2016, and in the same paragraph recalled the infamous (still unresolved) Evening Standard article of last October.
My guess is we will see more activity from some of the quieter platforms once it is confirmed they will be receiving full FCA authorisation.
Post start up phase, at least one knowledgeable industry insider is on record as saying a platform will need to be originating at least £30m of loans pa to recoup startup costs, be profitable, and re-invest in the business. It is very likely we will see a major shake out of platforms over the next 12 months.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on May 13, 2016 23:37:23 GMT
All of the above is true. I have funds with Proplend and it works well for me. A couple of months ago I wrote to the CEO of GLI Finance and queried the long term future of several of their platforms.
In a nutshell the reply was: 'the platforms have back up service providers if they were to run into financial difficulties. These providers ensure loan are managed effectively.'
|
|
|
Post by jordan on Nov 2, 2016 12:50:42 GMT
Does anyone have any reviews (good or bad!) about Proplend? I am looking to invest SSAS monies and looking for a suitable platform. Although the website reads well, I can't actually find many reviews Hi clg84May be far too late in the day, but we recently conducted a Proplend Investment Review. Hope it helps. Cheers,
|
|
rick24
Member of DD Central
Posts: 244
Likes: 138
|
Post by rick24 on Nov 2, 2016 21:03:45 GMT
It doesn't seem to have originated any loans for a while and there is nothing in the pipeline. I have visited this site a few times in the last month or so and the same 3 properties are available on the secondary market. GLI Finance have now off-loaded this platform back onto the original shareholders as part of a rationalization strategy. It does raise the question in my mind as to whether it was making any money.
|
|
bababill
Member of DD Central
Posts: 525
Likes: 243
|
Post by bababill on Nov 2, 2016 22:53:41 GMT
rick24. All very true. However very recently I sold a large 5 figure some on the secondary market within 24 hours. So the liquidity was amazing.
|
|
clg84
New Member
Posts: 2
|
Proplend
Nov 24, 2016 15:47:54 GMT
via mobile
Post by clg84 on Nov 24, 2016 15:47:54 GMT
Thank you for responses. I currently have invested elsewhere, however I will keep an eye and may look at it again in the future
|
|