theshape
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Post by theshape on Aug 15, 2017 18:44:26 GMT
Pledged Loan Agreement vs Buy Back Agreement.
Noticed the new loan has a PL prefix rather than the more common BB prefix. Presumably there have been 4 previous Pledged Loan Agreements. What's the difference?
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stevio
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Post by stevio on Aug 15, 2017 20:38:58 GMT
Pledged Loan Agreement vs Buy Back Agreement. Noticed the new loan has a PL prefix rather than the more common BB prefix. Presumably there have been 4 previous Pledged Loan Agreements. What's the difference? I would like to know this, rather than bookmark the entire thread, if you get an answer, would you mind tagging me
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Post by dan1 on Aug 15, 2017 22:26:24 GMT
Pledged Loan Agreement vs Buy Back Agreement. Noticed the new loan has a PL prefix rather than the more common BB prefix. Presumably there have been 4 previous Pledged Loan Agreements. What's the difference? The 4 previous PL loans, all at 12%, are listed on the Completed Loans tab. From the loan details: PL - "This loan is via a Pledged Loan Agreement (PL) whereby the borrower has pledged the asset(s) to Collateral in return for the loan amount." BB - "This loan is via a Buy Back Agreement (COLBB) whereby Collateral agrees to buy the goods from the client at a set price and gives the client the option to ‘buy back’ the goods within a set period of time, (in this case 6 months) at an agreed ‘buy back’ price."
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elliotn
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Post by elliotn on Aug 16, 2017 1:24:00 GMT
What I liked about the BB was that Coll end up as the owner (as with the car default but also with jewellery in their security boxes) but I suppose where Coll do have this under lock & key at least securing the asset is not an issue.
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Post by Collateral Rep on Aug 16, 2017 6:46:45 GMT
Morning,
To clarify the difference between buy back and pledge loans.
A pledge loan is a typical pawn loan whereby the goods are pledged and taken as security and interest is charged in the form of a loan.
Buy Back agreements are whereby the goods are effectively sold as security and a Buy Back fee is charged. The ‘borrower’ can buy the goods back for the amount ‘borrowed’ plus the Buy Back fee.
Many thanks,
Gordon
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elliotn
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Post by elliotn on Aug 16, 2017 9:03:52 GMT
I'm getting a -25 bid limit so can't bid 25 as normal - anyone else?
Collateral Rep - have you seen this error message? 'There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired."
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stub8535
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Post by stub8535 on Aug 16, 2017 9:06:24 GMT
Collateral Rep could you explain the reasoning for the unusual bid limits set on the loan today please? Pre fund limit £50. Bids form 10:00 £25 to include pre funding. I went in at ten to buy the expected £25 that, under previous guises, would have been available. I was surprised to find I will need to go against botsvat 13:00 which I refuse to do. Irritating!
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Post by bobthebuilder on Aug 16, 2017 9:06:26 GMT
What's going on with the latest bling loan? The e-mail stated "Pre Fund - £50, Bid Limit - £25 (total £75)", but having prefunded £50 yesterday evening I'm now prevented from investing a further £25 as I get the message "There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired."
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stub8535
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Post by stub8535 on Aug 16, 2017 9:07:53 GMT
What's going on with the latest bling loan? The e-mail stated "Pre Fund - £50, Bid Limit - £25 (total £75)", but having prefunded £50 yesterday evening I'm now prevented from investing a further £25 as I get the message "There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired." £25 is inclusive of pre fund. Caught me out too.
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Post by bobthebuilder on Aug 16, 2017 9:10:01 GMT
What's going on with the latest bling loan? The e-mail stated "Pre Fund - £50, Bid Limit - £25 (total £75)", but having prefunded £50 yesterday evening I'm now prevented from investing a further £25 as I get the message "There is currently a bid limit amount of £-25 on this investment. You can not bid a higher amount until the bid limit has expired." £25 is inclusive of pre fund. Caught me out too. But the e-mail specifically says "total £75"
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stub8535
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Post by stub8535 on Aug 16, 2017 9:13:40 GMT
£25 is inclusive of pre fund. Caught me out too. But the e-mail specifically says "total £75" Which is normal operating procedure bobthebuilder hence many experienced col investors are passing comment.
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beeza
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Post by beeza on Aug 16, 2017 10:05:10 GMT
Bid limit now at £75
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applets
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Post by applets on Aug 16, 2017 13:02:54 GMT
I think we have to be realistic in our interest expectations for bling. It is a competitive market for borrowers and I doubt many will wish to pay a higher rate of interest than they need.
I fully appreciate that many will not wish to lend for less than the previous Collateral rate of 12%, but some will be prepared to accept a lower rate if the risk is commensurate. This new loan will be a good test of the demand. The bid limit lasts until 13:00. It expect it will be gone by 13:30 at the latest. I think it is fair to say that there is demand for 10% bling!
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theshape
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Post by theshape on Aug 16, 2017 14:32:40 GMT
The bid limit lasts until 13:00. It expect it will be gone by 13:30 at the latest. I think it is fair to say that there is demand for 10% bling! MORE Bling please!
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rgog
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Post by rgog on Aug 16, 2017 14:35:47 GMT
There is demand for as long as there is nothing else available, but I notice there are some bling items starting to appear at 12% on other platforms. Also Unbolted is a tad over 10% on its non gold items. This could start to siphon money away.
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