twoheads
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Programming
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Post by twoheads on Apr 20, 2017 11:38:06 GMT
PBL174 - 12:31, 583 investors, £5,955 remaining I wonder if anyone here knows the max allocation... certainly not me.
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grahamg
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Post by grahamg on Apr 20, 2017 16:17:28 GMT
DFL 021 Surprise LfSS have the cheek to put this up especially at 9% given that their track record with care homes build seems to be 100% failure Paul64 with PBL 66 and 67 going straight to the default tab. I would have thought that the Care Home market is one not to be in given the squeeze on fees and presumably margins and the disquiet about quality of care!
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Post by Paul64 on Apr 20, 2017 16:29:23 GMT
DFL 021 Surprise LfSS have the cheek to put this up especially at 9% given that their track record with care homes build seems to be 100% failure Paul64 with PBL 66 and 67 going straight to the default tab. I would have thought that the Care Home market is one not to be in given the squeeze on fees and presumably margins and the disquiet about quality of care! Hi, thanks for your forum message. All opportunities have been through a full and thorough in-house and independent credit check. Please DM me with your specific concerns if you are thinking of lending on it and I will look into it further. We do not offer advice however. If you are in any doubt as to whether the Lendy platform or particular loans we make available are suitable for you then please therefore seek independent advice.
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Post by df on Apr 20, 2017 17:35:11 GMT
DFL 021 Surprise LfSS have the cheek to put this up especially at 9% given that their track record with care homes build seems to be 100% failure Paul64 with PBL 66 and 67 going straight to the default tab. I would have thought that the Care Home market is one not to be in given the squeeze on fees and presumably margins and the disquiet about quality of care! Hi, thanks for your forum message. All opportunities have been through a full and thorough in-house and independent credit check. Please DM me with your specific concerns if you are thinking of lending on it and I will look into it further. We do not offer advice however. If you are in any doubt as to whether the Lendy platform or particular loans we make available are suitable for you then please therefore seek independent advice. Current 13 defaults doesn't suggest that existing in-house and independent credit check procedure has much credibility.
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Post by Paul64 on Apr 20, 2017 17:39:43 GMT
Hi, thanks for your forum message. All opportunities have been through a full and thorough in-house and independent credit check. Please DM me with your specific concerns if you are thinking of lending on it and I will look into it further. We do not offer advice however. If you are in any doubt as to whether the Lendy platform or particular loans we make available are suitable for you then please therefore seek independent advice. Current 13 defaults doesn't suggest that existing in-house and independent credit check procedure has much credibility.
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Post by Paul64 on Apr 20, 2017 17:56:57 GMT
Hi, all investment carries risk and P2P is no different. Our credit checks are as good if not better than you will find anywhere else in the lending industry, and we have a good track record of protecting lenders. I will be looking at publishing our due diligence process in due course so you can judge for your self if our approach is robust enough. We believe it is very thorough.
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GeorgeT
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Post by GeorgeT on Apr 20, 2017 18:04:32 GMT
I don't think many investors think that way. I think many invest in any old rubbish with the intention of selling out well before the proverbial hits the fan and rarely intend to hold to term. The skill is in determining the correct time to exit. An optimum time point before the loan becomes illiquid on the SM, but before you throw away a lot of interest. It's all about skill and nerve. Too much emphasis is placed on DD I think, by investors who like to think they are too smart to be beaten. In reality I think a good tactical approach is probably more valuable than spending a lot of time on personal DD.
A bit like football manager, you can buy the best players but if you get your game plan wrong you will lose to the better tactician.
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Post by df on Apr 20, 2017 19:26:36 GMT
Hi, all investment carries risk and P2P is no different. Our credit checks are as good if not better than you will find anywhere else in the lending industry, and we have a good track record of protecting lenders. I will be looking at publishing our due diligence process in due course so you can judge for your self if our approach is robust enough. We believe it is very thorough. Yes, of course I understand the risk involved, but I'm not convinced that your stated LTV's reflect the reality. Was is it DFL20 that was sold at around 4.000.000 loss? Not sure about your credit checks procedure, seems like most of your borrowers are unable to repay on time. You offer them more funds instead and extend the terms, but how long can this go for? I keep reading updates saying the borrower is working on refinancing or sales, but it doesn't look like anyone is interested in buying or re-financing these projects. I think the the best proof of robust approach would be a speedy recovery of current 13 defaults and no more artificially inflated LTV's. I tend to judge by results, not published theories.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Apr 20, 2017 19:40:44 GMT
Yes, of course I understand the risk involved, but I'm not convinced that your stated LTV's reflect the reality. Was is it DFL20 that was sold at around 4.000.000 loss? DFL20? I presume you mean PBL020? If so, it certainly wasn't a £4m loss - it sold £400k less than the loan and £1.1m less than the VR reported value "............. £1.1m less than the VR reported value"But, that's alright, after all, there's risk in P2P!
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,161
Likes: 4,846
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Post by ozboy on Apr 20, 2017 19:44:44 GMT
Yes, of course I understand the risk involved, but I'm not convinced that your stated LTV's reflect the reality. Was is it DFL20 that was sold at around 4.000.000 loss? DFL20? I presume you mean PBL020? If so, it certainly wasn't a £4m loss - it sold £400k less than the loan and £1.1m less than the VR reported value Unfortunately, it does seem that VRs aren't the most reliable source when it comes to MV - PBL064, PBL056, all the Gloustrshire Loans are all on the market for far less than the reported MV. Not just LY - this has been seen on all platforms - seems to be an issue that platforms should look into "Should look into/an issue"?!!! They should be hung, drawn and quartered, it's beyond dishonest, it's a racket. Which RICS is very aware of and does NOTHING about.
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Post by Paul64 on Apr 21, 2017 7:49:42 GMT
As most of you are aware, the loans in bold are live. The remaining two are still expected to go shortly.
DFL005 - Tranche 9 - Arboretum, Land with PP DFL015 - Tranche 3 - Herefordshire DFL021 - Sewerby, Nr Bridlington DFL022 - Manchester Road, Huddersfield PBL173 - Branksome Park PBL174 - Barrowford, Nelson
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Post by Paul64 on Apr 21, 2017 11:44:15 GMT
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twoheads
Member of DD Central
Programming
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Post by twoheads on Apr 21, 2017 12:30:41 GMT
DFL021 live at 13:26, 619 618 (@new2p2p was quicker!) investors, nothing significant on SM so assume fully prefunded.
No idea of allocation.
EDIT - Crossed with @new2p2p .
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elliotn
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Post by elliotn on Apr 21, 2017 12:31:45 GMT
Come on, how many investors?
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elliotn
Member of DD Central
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Post by elliotn on Apr 21, 2017 13:16:10 GMT
A v nice service
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