tarq
Member of DD Central
Posts: 125
Likes: 28
|
Post by tarq on Feb 13, 2017 9:49:12 GMT
Surprised this is still around, with such a dearth of new loans available across quite a few platforms.
As I understand it, the borrower has paid 6months up front, so what's wrong with it?
|
|
|
Post by Collateral Rep on Feb 13, 2017 9:55:43 GMT
Morning tarq, There's nothing wrong with the loan, it's been our largest loan by far and with our current levels of investor, always new it would take a while. Hopefully it may attract new investors which will help it along. Many thanks, Gordon
|
|
|
Post by sannytwist on Feb 13, 2017 10:00:35 GMT
Doesn't seem anything wrong with it (well in my opinion anyway) but just seems this is a rather big loan for this platform and collateral isn't the mighty MT so filling it is going slower than expected.
However they did explain that after Feb they will offer the remaining loan parts to their 'alternative investment groups'.
Without further details or clarity on the situation...l'm satisfied with my current investments on this loan.
|
|
|
Post by sannytwist on Feb 13, 2017 10:51:43 GMT
In saying that , the amount of money gone into this loan has been impressive for this size of platform. I'm sure collateral have been one of the p2p companies who are expanding their customer base consistently. You can tell they have been listening to customers feedback and have implemented different IT systems to help the p2p experience e.g pre-funding and their speed of deposits/withdrawals are pretty damn good (much faster than other so called big platforms). In terms of communication , they are really active and always helpful.
Good job
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Feb 13, 2017 10:58:19 GMT
Would second that and look forward to hearing about the investors' day too
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
|
Post by ozboy on Feb 13, 2017 14:20:04 GMT
Yessir, there's only a few decent, trusted players left in town and Collateral seem to be one of them.
The Usual Suspects populate the "Not so decent and trusted" platforms ......................................................
|
|
littonowl
Member of DD Central
Posts: 398
Likes: 355
|
Post by littonowl on Feb 23, 2017 14:46:39 GMT
Hi Gordon collateral Rep, Its stated that the exit strategy for this project will come from refinance following planning approval. Do you know what their plan B is, if they don't get planning permission? TIA
|
|
|
Post by Collateral Rep on Feb 23, 2017 15:54:00 GMT
Hi littonowlThe borrowers current plan is to obtain planning for a further 79 rooms and then to sell them as individually investments. This is a scheme he has been successful in previously. Plan B is to renovate the existing rooms and business and then refinance or sell. Many thanks, Gordon
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Feb 24, 2017 1:10:56 GMT
From the absence of further discussion of this one, I'm guessing the fact it's only 35% filled is simply the loan size versus the appetite of the current CL lender base. Or has anyone spotted anything dubious that's not been mentioned? Quite easy to search this one as the borrower's asset is named in the thread title...(couldn't see how to notify admin on tapatalk).
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Feb 24, 2017 1:41:37 GMT
Quite easy to search this one as the borrower's asset is named in the thread title...(couldn't see how to notify admin on tapatalk). Fortunately there are quite a few of them with the same name, so you need a bit more information than that to find it. Never used tapatalk - is there no right hand cog wheel on the posts with the report option? Failing that you could always PM one of us if you have concerns about anything in the future .
|
|
elliotn
Member of DD Central
Posts: 3,063
Likes: 2,681
|
Post by elliotn on Feb 24, 2017 9:02:19 GMT
Thank you star dust. Fortunately it's not the one in Missouri which has ghosts. I just hope this one doesn't come back to haunt Collateral
|
|
jhma
Member of DD Central
Posts: 82
Likes: 53
|
Post by jhma on Feb 24, 2017 14:22:02 GMT
Yes SteveT As mentioned above, we didn't expect due to the size of the loan to fill straight away but we wanted to give our investors the opportunity to invest before the borrower is due to drawdown, which will be at the end of February. During this time investors will receive their interest. Any balance still available will be offered to our alternative investment groups. Many thanks, Gordon It's coming up to the end of February so I wondered if there's any update on the 'offer' to 'alternative investment groups'. I'm not looking to take a meaningful long-term position in Collateral's property-related loans (there's plenty on on other specialist property platforms) but wouldn't mind a temporary home for a couple of months for my increasing supply of recently returned funds, difficult to get away into new sparkly things. That is, however, if I could be confident that there wouldn't be a big overhang of this loan making it impossible to sell on in the future. So, what I'm interested in is: a) When will the 'alternative investment groups' step in? Will they take all of the overhang? b) Will the 'alternative investment groups' then be able to drip-feed their tranche back to the secondary market? Any information welcome!
|
|
|
Post by Deleted on Feb 24, 2017 15:28:19 GMT
collateralI have not invested in property loans as yet. Before I do, can you advise on the following 1. Where do Collateral loan parts stand in relation to those taken by the 'alternative investment groups' - do they have an equal ranking in case of default? 2. Other property loans have filled, but at the end of six months as with the Elms loan, I assume if the loan is renewed, then investors can choose to renew or redeem their loans parts as usual. If the non redeemed element is not taken up by new investors or there is a lag between redemption and new take up, where do the funds come from to make up the shortfall/repay redeeming lenders? Just want to be fully up to speed before taking the plunge! ps great new jewellery loans this week as indeed you promised - keep up the good work!!!!!!
|
|
|
Post by Deleted on Feb 24, 2017 15:45:49 GMT
collateral I have not invested in property loans as yet. Before I do, can you advise on the following 1. Where do Collateral loan parts stand in relation to those taken by the 'alternative investment groups' - do they have an equal ranking in case of default? 2. Other property loans have filled, but at the end of six months as with the Elms loan, I assume if the loan is renewed, then investors can choose to renew or redeem their loans parts as usual. If the non redeemed element is not taken up by new investors or there is a lag between redemption and new take up, where do the funds come from to make up the shortfall/repay redeeming lenders? Just want to be fully up to speed before taking the plunge! ps great new jewellery loans this week as indeed you promised - keep up the good work!!!!!! collateral Rep - just in case have not put correct tag?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,870
Likes: 11,097
|
Post by ilmoro on Feb 24, 2017 15:51:54 GMT
collateral I have not invested in property loans as yet. Before I do, can you advise on the following 1. Where do Collateral loan parts stand in relation to those taken by the 'alternative investment groups' - do they have an equal ranking in case of default? 2. Other property loans have filled, but at the end of six months as with the Elms loan, I assume if the loan is renewed, then investors can choose to renew or redeem their loans parts as usual. If the non redeemed element is not taken up by new investors or there is a lag between redemption and new take up, where do the funds come from to make up the shortfall/repay redeeming lenders? Just want to be fully up to speed before taking the plunge! ps great new jewellery loans this week as indeed you promised - keep up the good work!!!!!! collateral Rep - just in case have not put correct tag? Youve just tagged the same person Collateral Rep is the one you were aiming for
|
|