Liz
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Post by Liz on Oct 15, 2016 16:10:58 GMT
I tried to make this poll as simple as possible.
Would you still invest at 11%, assuming future loans are of a similar quality to past loans.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Oct 15, 2016 16:20:48 GMT
11% on all loans is going to be hard considering Lendy Ltd are now offering borrowers loans "from 0.4% per month". Interestingly they are also advertising "LTV up to 75%"...  Interesting times ahead... |
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Post by jackpease on Oct 15, 2016 16:52:51 GMT
While i have voted no, had the poll been 'do you think all loans would still be oversubscribed at 11%' i think the answer would be yes. I think it'd be yes at 10%.
If SS stuck with the blanket 12% in the current shrinking returns climate, it'd been left with an ever diminishing pool of poorer quality loans
Jack P
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jcb208
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Post by jcb208 on Oct 15, 2016 18:30:33 GMT
11% on all loans is going to be hard considering Lendy Ltd are now offering borrowers loans "from 0.4% per month". Interestingly they are also advertising "LTV up to 75%"... Interesting times ahead... So on Savingstream's current charges some loans we may only get 3.2% a year unless my maths is wrong 
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ben
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Post by ben on Oct 15, 2016 18:35:50 GMT
For 0.4% month on SS, I would expect a pretty good gold plated loan with a side plate of gold to go with it. to lend into that.
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Liz
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Post by Liz on Oct 15, 2016 18:52:31 GMT
For 0.4% month on SS, I would expect a pretty good gold plated loan with a side plate of gold to go with it. to lend into that. Don't worry it will be loaded with a ton of fees. So they may end up paying 24% APR instead of 30%.
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lobster
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Post by lobster on Oct 15, 2016 19:50:26 GMT
OK, so how many people have voted "No" above, in the full knowledge that SS themselves will see the result of the poll ?!!  |
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dan83
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Post by dan83 on Oct 15, 2016 19:58:00 GMT
11% on all loans is going to be hard considering Lendy Ltd are now offering borrowers loans "from 0.4% per month". Interestingly they are also advertising "LTV up to 75%"... Interesting times ahead... So on Savingstream's current charges some loans we may only get 3.2% a year unless my maths is wrong You can currently save a max of £6000 in 2 Tesco current accounts at 3% with no rush what so ever. I know where my money would go.
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Post by GSV3MIaC on Oct 15, 2016 20:02:58 GMT
/mod hat off
It's kinda difficult to decide without reference to rates being offered elsewhere, the outlook for inflation, etc. Even then it depends on the loan .. some of the current batch I wouldn't touch at 11%, but then some I wouldn't touch at 21% either. (I think there's only two or three I wouldn't touch at 31% though. 8>.)
For future loans, it depends on the quality .. I've lent money at less that 12% elsewhere, but that was at lower LTV against valuations which bore some resemblance to latest selling prices, on properties which were either income generating, or seemed to offer better than average scope for a profit .. contrariwise I've sneered at a lot of 8-9-10-11% loans over on Failing Cashback, which some people seem to find wonderfully attractive (well, there was at least a plentiful supply, with huge bid limits).
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sl75
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Post by sl75 on Oct 15, 2016 21:56:49 GMT
I need to select the hidden middle option - I'd continue to invest, but at a reduced target amount per loan (so part of my money is voting "yes" and part of it is voting "no").
Edit: I tried to click about half-way between the "yes" and "no" options, but the forum software recorded that as a "no".
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ablender
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Post by ablender on Oct 15, 2016 22:07:46 GMT
If we are to be offered less than 12%, will we get solid valuations? By this I mean no such things as we lenders cannot even look at the valuation document. If SS has some arrangement in the background, can you please let us know about this? I feel that we lenders are fully exposed with no recourse to something tangible in terms of valuation as we are specifically told that we are not to rely on it. I believe that SS has a duty to tell the valuers that the lenders (US) are an integral part of the party commissioning the valuation and I insist on having this in writing.
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am
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Post by am on Oct 15, 2016 22:21:01 GMT
/mod hat off It's kinda difficult to decide without reference to rates being offered elsewhere, the outlook for inflation, etc. Even then it depends on the loan .. some of the current batch I wouldn't touch at 11%, but then some I wouldn't touch at 21% either. (I think there's only two or three I wouldn't touch at 31% though. 8>.) At 31% I'd be worrying about the ethics of lending.
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am
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Post by am on Oct 15, 2016 22:30:50 GMT
I'm currently investing in property loans at 10%-13% at MT (and at less at FC), so I'm not going to refuse a loan of sufficient quality just because it's offering 11%. (But I'm already rejecting a lot of SS's loans at 12%)
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dovap
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Post by dovap on Oct 15, 2016 22:43:57 GMT
presuming the current level of winging it with lack of dd and nonsense updates
then the lower the rate the less I'd be inclined to use the platform.
mostly running down my ss balance these days
folk seem to lap up any old guff so don't suppose it matters greatly how inflated the ltvs or how dubious the borrowers
hey ho
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ablender
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Post by ablender on Oct 16, 2016 9:26:34 GMT
Liz No offence: I cannot vote because I do not see it as a straight forward yes or no. Cannot make up my mind due to lack of particular information.
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