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Post by danraj on Aug 31, 2017 19:04:20 GMT
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Post by kylierebsoc on Sept 1, 2017 10:50:45 GMT
Hi Money,
The loan has now been listed on the site.
The transfer button appeared briefly whilst we were setting up the loan and transfer bid functionality.
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Post by kylierebsoc on Sept 1, 2017 15:39:47 GMT
Hi again Money, I'm glad you've had a chance to look at the application. We're glad to have Gavin returning to us. The starting interest rate reduction on the loan is due to the security offered. When the business last raised funds through Rebs we didn't have the 'Security Discount'. This initiative essentially encourages borrowers to offer more and better security for a reward in their starting rate. I believe this was introduced towards the end of last year. We were struggling to get borrowers to give good security in support of their loans due to the high rates they were likely to achieve. Since this was introduced it has been easier convincing borrowers to give good security and as a result we have been able to increase the average level of security on loans on the platform. Gavin hopes that his stellar track record to date will see investors back his loan at the current rate. He enjoys his interaction with the lenders and the platform and has been a good ambassador for the platform. We're working hard behind the scenes to prove you wrong and get the loan funded  Have a lovely weekend. |
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kaya
Member of DD Central
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Post by kaya on Sept 1, 2017 16:44:56 GMT
Gavin hopes that his stellar track record to date will see investors back his loan at the current rate. That must be it, because I remain far from convinced that the 'security offered' justifies the rate of interest applied. Sadly I have seen the 'security offered' on many other loans evaporate into nothing, though admittedly this was on 20% loans, so perhaps we were not meant to take these 'securities' seriously. Good luck with it Rebs, that stellar record may be enough to influence enough potential investors, though I suspect this would be a 'D' loan on FC.
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Post by dodgeydave on Sept 2, 2017 3:02:44 GMT
Hi, Kylie. Thank you for your timely response. 'Security Discount'? Pah! Seriously, who thinks up this stuff?!  It is what it is - a loan for close to double the amount of the previous loan, with similar secured assets, and a risk profile that has been lowered by some faux initiative - which is the polar opposite of ReBS' stated rationale for raising the borrower's risk profile last time around. As a big fan of Gavin's, I wish him the best. Likewise - have a great weekend. This link explains clearly how the security discount works www.rebuildingsociety.com/changes-marketplace/
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puddleduck
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Post by puddleduck on Sept 23, 2017 8:08:33 GMT
kylierebsoc , it's noted that G**'s new proposal has disappeared from the marketplace. Can you please communicate why that is and also, if the new loan is not to go ahead, what the strategy is for the existing loan, which remains untradeable? Thanks. The deadline on the proposal was 22/09/2017 (yesterday) - I assume it didn't fill so lapsed?
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Post by buttchopf23 on Sept 23, 2017 13:42:52 GMT
I received an email (but deleted it) stating that the borrower did not want to proceed as he found an alternative source to borrow (if I remember correctly)
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