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Post by GSV3MIaC on Jul 13, 2017 20:38:57 GMT
But if you spent 60, or even 30, days 'selling out safely' you are going to get rather less than the headline 12% on your cash, aren't you (since no interest is paid for the period they are 'for sale'). Anything over 8 days on the for sale queue and you'd have been better off with FC's fixed 0.25% selling fee. Anything over 30 days and you'd have done better with the 'sell at a 1% discount (no fee) as seen elsewhere. The whole 'buy anything at 12%, sell it before it goes mouldy' strategy is desperately flawed, IMO .. 'buy something at 12% with decent security and hold it until it repays' (especially if it earns ~18% after the promised repayment date) has to be a better option for sleeping at night.
The issue I have had over the last 12 months is finding enough things paying 12% with decent security (or indeed finding things at ANY%, with decent security). Over-optimistic build schedules? - great, more interest at 18%, IFF the VR was sensible in the first place.
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GeorgeT
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Post by GeorgeT on Jul 13, 2017 21:14:27 GMT
But if you spent 60, or even 30, days 'selling out safely' you are going to get rather less than the headline 12% on your cash, aren't you (since no interest is paid for the period they are 'for sale'). Anything over 8 days on the for sale queue and you'd have been better off with FC's fixed 0.25% selling fee. Anything over 30 days and you'd have done better with the 'sell at a 1% discount (no fee) as seen elsewhere. The whole 'buy anything at 12%, sell it before it goes mouldy' strategy is desperately flawed, IMO .. 'buy something at 12% with decent security and hold it until it repays' (especially if it earns ~18% after the promised repayment date) has to be a better option for sleeping at night. The issue I have had over the last 12 months is finding enough things paying 12% with decent security (or indeed finding things at ANY%, with decent security). Over-optimistic build schedules? - great, more interest at 18%, IFF the VR was sensible in the first place. It's horses for courses and while I quite accept that my overall return is a lot lower than 12% if I factor in the amount I have up for sale at any time earning no interest, but I don't factor that in so I am getting 12%. The fact of the matter is if that money was not up for sale in my LY account it would be sitting in my bank deposit account earning 0.05% which is about the same as nothing and therefore I am not losing any interest but I am earning 12% interest on the money that is actually invested and I am earning that 12% on a fairly low risk basis.
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stevio
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Post by stevio on Jul 13, 2017 22:09:06 GMT
But if you spent 60, or even 30, days 'selling out safely' you are going to get rather less than the headline 12% on your cash, aren't you (since no interest is paid for the period they are 'for sale'). Anything over 8 days on the for sale queue and you'd have been better off with FC's fixed 0.25% selling fee. Anything over 30 days and you'd have done better with the 'sell at a 1% discount (no fee) as seen elsewhere. The whole 'buy anything at 12%, sell it before it goes mouldy' strategy is desperately flawed, IMO .. 'buy something at 12% with decent security and hold it until it repays' (especially if it earns ~18% after the promised repayment date) has to be a better option for sleeping at night. The issue I have had over the last 12 months is finding enough things paying 12% with decent security (or indeed finding things at ANY%, with decent security). Over-optimistic build schedules? - great, more interest at 18%, IFF the VR was sensible in the first place. It's horses for courses and while I quite accept that my overall return is a lot lower than 12% if I factor in the amount I have up for sale at any time earning no interest, but I don't factor that in so I am getting 12%. The fact of the matter is if that money was not up for sale in my LY account it would be sitting in my bank deposit account earning 0.05% which is about the same as nothing and therefore I am not losing any interest but I am earning 12% interest on the money that is actually invested and I am earning that 12% on a fairly low risk basis. If deniability was plausibility, then yes
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GeorgeT
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Post by GeorgeT on Jul 18, 2017 14:26:44 GMT
Very pleased to see this pop up in the pipeline and this time I will be setting a bolder pre-fund figure. A golden nugget in a field of manure.
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twoheads
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Programming
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Post by twoheads on Jul 19, 2017 10:05:39 GMT
Tranche 3 went live at 11:03.
£540 allocation.
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GeorgeT
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Post by GeorgeT on Jul 19, 2017 11:28:34 GMT
Tranche 3 went live at 11:03.
£540 allocation. Asked for £400 and got £400. Would have liked a larger amount but I was limited by the size of my available balance because I am not prepared to transfer new money into the platform. It looks as though I made the right decision because I have not achieved any sales so far today so my available balance has been set to zero thanks to an extra £400 in this lovely loan which makes my portfolio stronger and more durable and more liquid. It's still astounds me that some DD specialists like CD avoided this loan when they plunged their money into certain other loans which were much much bigger beasts. Sometimes when you try and over complicate things you end up not seeing the wood for the trees.
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fp
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Post by fp on Jul 19, 2017 19:26:43 GMT
Tranche 3 went live at 11:03.
£540 allocation. Asked for £400 and got £400. Would have liked a larger amount but I was limited by the size of my available balance because I am not prepared to transfer new money into the platform. It looks as though I made the right decision because I have not achieved any sales so far today so my available balance has been set to zero thanks to an extra £400 in this lovely loan which makes my portfolio stronger and more durable and more liquid. It's still astounds me that some DD specialists like CD avoided this loan when they plunged their money into certain other loans which were much much bigger beasts. Sometimes when you try and over complicate things you end up not seeing the wood for the trees. Its a funny old game GeorgeT, and different types of people prosper in different games, myself, I like a game of chess, whereas I have you down for pass the parcel or Snap.
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GeorgeT
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Post by GeorgeT on Jul 19, 2017 20:23:14 GMT
Scrabble for me.
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warn
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Curmudgeon
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Post by warn on Jul 20, 2017 11:01:43 GMT
I wouldn't dream of it, you cheeky thing!
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elliotn
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Post by elliotn on Jul 20, 2017 12:30:03 GMT
If I didn't think it would compromise your Fb identity/p2p persona, this would be a gauntlet I could not refuse to pick up (an expat's life is incomplete without it imho).
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webwizard
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Post by webwizard on Dec 30, 2017 8:31:36 GMT
The application invalid aspect of the planning permission needs resolution. The day 1 value in the particulars gives a value about that of the current loan. So this is effectively 100% LTV until resolved. Let's hope all is well in the New Year
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mary
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Post by mary on May 11, 2018 18:29:36 GMT
Latest update...
"The last determination date for the local authority in relation to the planning application was 20 April 2018 and where no extension has been agreed, the borrower believes that planning consent has been agreed by default."
What cr*p is this? Anyone with the slightest notion of planning knows that either you have a positive decision, or you don't. There is no such thing as "agreed by default".
When a planning determination does not happen by the due date, either the local authority is overwhelmed with applications (difficult to believe as this is not a major metropolis) or there is a problem!
The option is to sit and wait for a determination one way or the other, or appeal to the Planning Inspectorate. Sadly Lendy again exhibits either naivety of the process (unlikely as they need to save their business) or contempt for borrowers.
If in doubt see thread for PLB103, although that could support the naivety theory, in which case we are all in deep sh*t.
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withnell
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Post by withnell on May 11, 2018 19:49:13 GMT
If it's determination, then the borrower's position could well be sound - if the authority needed more time then an extension would be requested - with appeals etc timing out leading to approval is relatively common
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star dust
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Post by star dust on Jul 12, 2018 17:17:09 GMT
Repayment day, this one's just repaid too.
In Edit: I wasn't in either of the two repayments today (PBL154 & DFL028), but good to see ~ £1.7 capital + interest being repaid.
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