Nomad
Member of DD Central
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Post by Nomad on Jan 22, 2018 15:26:42 GMT
Has anyone ever used the SM on Blend? I've never seen any loan parts for sale, so either its not working yet, or there is not much activity. Not much activity! I used it last week - listed on Monday, sold on Wednesday, funds in my bank on Thursday.
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Post by dan1 on Jan 22, 2018 15:46:45 GMT
Loan available to preview (32 days until end of listing): Loan #7 E******** U****** Ltd To finance the acquisition of a development site in order to develop 8 houses in Limavady, NI 12% 24 month term 18 months Roll Up (Interest accrued monthly and added to the capital) then 6 months Interest only Loan amount £330k 1st tranche of max £1.3m facility GDV of £1.64m 1st charge + 1st charge over agricultural land with a market value of £375k Edit: crossed with SteveT Loan added to the following: - Travel Guide, link- Travel Guide on DD Central, link- Google Earth kmz on DD Central, linkIt seems that the latest planning application is still in consultation, see links in kmz.
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michaelc
Member of DD Central
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Post by michaelc on Jan 24, 2018 15:44:36 GMT
- Deposits are almost instant; they have a unique way of processing deposits (using a unique reference every time you make a deposit)
Wish I could say the same. The first deposit (a token amount to set up the payment and check I'd entered the details correctly etc) went through fairly quickly. I followed through with a slightly larger transfer to test out a single loan purchase. Funds were in last night and as of 3.40pm not been credited yet. I did check the changing reference number was correct which I guess brings me to my second point. If its not automated, why do they need a changing ref? In fact even if it was automated, perhaps a single unique ref would be ok? (Maybe there are some security issues I haven't thought about?) In general though, its a lot more convenient to have a single ref.
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blueninja
Member of DD Central
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Post by blueninja on Jan 24, 2018 20:21:25 GMT
- Deposits are almost instant; they have a unique way of processing deposits (using a unique reference every time you make a deposit)
Wish I could say the same. The first deposit (a token amount to set up the payment and check I'd entered the details correctly etc) went through fairly quickly. I followed through with a slightly larger transfer to test out a single loan purchase. Funds were in last night and as of 3.40pm not been credited yet. I did check the changing reference number was correct which I guess brings me to my second point. If its not automated, why do they need a changing ref? In fact even if it was automated, perhaps a single unique ref would be ok? (Maybe there are some security issues I haven't thought about?) In general though, its a lot more convenient to have a single ref. My deposits have always been pretty quick with Blend, credited within a few hours, even late at night. Agree with the changing ref though, its prone to human error when transferring money in. I cannot see why they need it, I don't know any other platform that does this, and I cannot see any security problems with with a constant reference either.
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michaelc
Member of DD Central
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Post by michaelc on Jan 24, 2018 20:23:56 GMT
Wish I could say the same. The first deposit (a token amount to set up the payment and check I'd entered the details correctly etc) went through fairly quickly. I followed through with a slightly larger transfer to test out a single loan purchase. Funds were in last night and as of 3.40pm not been credited yet. I did check the changing reference number was correct which I guess brings me to my second point. If its not automated, why do they need a changing ref? In fact even if it was automated, perhaps a single unique ref would be ok? (Maybe there are some security issues I haven't thought about?) In general though, its a lot more convenient to have a single ref. My deposits have always been pretty quick with Blend, credited within a few hours, even late at night. Agree with the changing ref though, its prone to human error when transferring money in. I cannot see why they need it, I don't know any other platform that does this, and I cannot see any security problems with with a constant reference either. I guess worse case, if one did enter the ref incorrectly (assuming the sc and ac remained the same) presumably they could find the payment but it would take longer.
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Post by dan1 on Jan 24, 2018 20:42:08 GMT
The Blend secondary market appears to be different to others I've encountered in that offers are not available to purchase for 24 hours after they've first been placed. For example, there are currently 3 offers available to view, which will go live shortly after midday tomorrow. I guess this means on the plus side it prevents the temptation to log in more than once a day but for the more desirable offers (good loans, long terms, discounts) it's down to FFF.
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p2pclive
Blockchain specialist
Posts: 25
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Post by p2pclive on Jan 24, 2018 22:21:16 GMT
The Blend secondary market appears to be different to others I've encountered in that offers are not available to purchase for 24 hours after they've first been placed. For example, there are currently 3 offers available to view, which will go live shortly after midday tomorrow. I guess this means on the plus side it prevents the temptation to log in more than once a day but for the more desirable offers (good loans, long terms, discounts) it's down to FFF. It appears to be, but it really isn't They have been known to offer the same deals on all of the markets, they don't care. Bunch of cowboys.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 24, 2018 23:57:01 GMT
The deposit references change because Blend use Mangopay as their transfer service provider. Its the Mangopay reference you are quoting which is generated fresh for each transaction.
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Post by paulv1960 on Feb 6, 2018 21:54:39 GMT
Thinking about lending into their new loan for the dev in Limavady, looks like a good healthy return. Anyone got any views on them as I've never used them before?
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Post by paulv1960 on Feb 6, 2018 21:56:19 GMT
I'm thinking of lending into their 12% loan, any views???!!!
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michaelc
Member of DD Central
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Post by michaelc on Feb 28, 2018 17:21:53 GMT
Not sure I'm in the mood today for investing so a little ironic the first new loan in a while has appeared on the platform.
Other than that, and not having done any DD yet, seems reasonable?
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SteveT
Member of DD Central
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Post by SteveT on Feb 28, 2018 17:25:14 GMT
It’s another one where interest is rolled up for the first 12 months. Plenty of other fish in the sea (increasingly offered with cashback chips at the moment, just like the good old days!)
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Post by dan1 on Mar 1, 2018 22:25:15 GMT
Loan open for funding (31 days remaining):
Loan #79 C***** D*** D*********** Ltd This is an opportunity to lend to an experienced development team intending to develop 4 two bedroom apartments in Northern Ireland. 12% 18 month term 12 months Roll Up (Interest accrued monthly and added to the capital) then 6 months Interest only Loan amount £250k
The purpose of the loan is to fund the construction and development costs. The site was acquired by the developer in 2017 for a purchase price of approximately £66,000. Construction costs are estimated at £250,000 giving rise to a total development cost including the site, of approximately £316,000.
Part of the loan proceeds will be held in an escrow account and released over time, with drawdowns being made in accordance with the construction plan. Before any subsequent drawdown occurs, a RICS valuer will assess the amount and quality of construction in progress.
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Post by dan1 on Mar 1, 2018 22:47:59 GMT
Loan open for funding (31 days remaining): Loan #79 C***** D*** D*********** Ltd This is an opportunity to lend to an experienced development team intending to develop 4 two bedroom apartments in Northern Ireland. 12% 18 month term 12 months Roll Up (Interest accrued monthly and added to the capital) then 6 months Interest only Loan amount £250k The purpose of the loan is to fund the construction and development costs. The site was acquired by the developer in 2017 for a purchase price of approximately £66,000. Construction costs are estimated at £250,000 giving rise to a total development cost including the site, of approximately £316,000. Part of the loan proceeds will be held in an escrow account and released over time, with drawdowns being made in accordance with the construction plan. Before any subsequent drawdown occurs, a RICS valuer will assess the amount and quality of construction in progress. Loan added to the following: - Travel Guide, link- Travel Guide on DD Central, link- Google Earth kmz on DD Central, link
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Post by trentenders on Mar 2, 2018 23:50:36 GMT
Is it just me, or has paulv1960 started off his Blend Rep role by lying to the forum? It's late, so apologies if ive misread but launching a platform with shills would be pretty stupid.
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