oik
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Post by oik on Dec 18, 2017 18:01:30 GMT
Afternoon, Thank you for your questions, keep them coming and we will look to upload an FAQs on this loan this evening. Regards, Ed Thanks Ed. Could you clarify the connections of one or more directors of the borrowing SPV with the developers of the Liverpool flats loan (MTAV714) please?
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oik
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Post by oik on Dec 14, 2017 17:43:52 GMT
Nope the rate is to low for the short durationinterest Ditto. No strong feelings either way but I don't feel disposed to lending a large sum without asset backing, and equally seems not worth the bother and risk to a lesser sum for the small return of just 3 months interest.
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oik
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Post by oik on Dec 7, 2017 11:08:33 GMT
Well there's a lot of spare cash looking for a home floating around at the moment so if loans can't get away now then something's amiss.
Perhaps too many very high-risk loans with rates that don't match that risk trying to compensate with a small amount of 'cashback'. Investments in this loan under £5k get just 0.25% cashback and I notice the majority of investments are under £1000. If the BHs aren't attracted by an extra 4% then not too surprising that 0.25% or so for the minnows isn't doing it either. Seems many have cottoned on that an extra pound or two for being locked into a loan for six months, or far longer, with the double whammy of being paid no interest while they attempt to sell, possibly for months, possibly throughout the term, isn't much of a deal. Cashback offers for unattractive loans may now be seen as a negative by as many peeps as they encourage. Collateral may need a rethink.
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oik
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Post by oik on Nov 17, 2017 8:46:01 GMT
Presumably our borrower has secured cheaper funding to refi and complete Phase 2. Shame but well done and at 7 months overdue we mustn't grumble . A lot of peeps here not happy with some ofthe very high risk loans coming through so would have been interesting to know the terms the borrowers got and how many here would have been willing to match them. Seems to be bit of a mismatch of expectations.
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oik
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Post by oik on Nov 17, 2017 8:33:14 GMT
With defaults mounting I would have thought people would be more interested in lower interest rate but really solid propositions not 14% but whoops here goes another default. Give us more quality not more risk pls MT ok to reduce rate accordingly 10% is still a great return I'd certainly go with that. OTOH, while we say we don't want these high risk loans that we keep seeing, they always seem to be snaffled up by someone if there's a 14% rate going or a bit of cashback. We're a difficult bunch for MT to please.
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oik
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Post by oik on Nov 8, 2017 14:40:25 GMT
On re-reading it I'm sure you're right. Now perhaps they'll also consider the impact of not extending it on the take-up of less popular loans and whether having to pay cash-back and higher rates isn't more costly and cumbersome.
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oik
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Post by oik on Nov 8, 2017 13:44:00 GMT
Thanks. I saw that post on 3 Nov saying they were looking at it rather than being an assurance and would update early this week. Has there been an update or confirmation?
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oik
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Post by oik on Nov 8, 2017 13:09:01 GMT
...We appreciate liquidity maybe an issue, so we have decided to reduce the loan amounts and split into 4 parts, (4 x £275,000) which we hope will also help the Secondary Market... Gordon The liquidity problem I see is that, if this loan is as unpopular as it seems, then any lender is liable to be locked in unless they're prepared to accept the indeterminate cost of putting it on the SM and possibly losing weeks/months of interest. For that reason I prefer to avoid any loan on Collateral that doesn't look too popular. And, with everything flying off the shelves at MT over the past week while this loan is barely touched, it doesn't look much loved. And now that these loans are routinely getting extended (and will then, we've been assured, be resell-able without losing interest), their attraction continues... Didn't see that announcement if there was one. That would be an improvement, but as it's a 12 month loan then being locked in for only a year before being able to exit without penalty doesn't really really do it.
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oik
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Post by oik on Nov 6, 2017 17:52:41 GMT
If everyone is selling it must be bad, if everyone is buying it must be good. My dogs are much the same. They only fight over a stick if the other one wants it. I'm training them to handle all my finances.
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oik
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Post by oik on Nov 5, 2017 11:48:02 GMT
Confiscating interest while lenders try to sell their loans is both unfair and daft. The platform has to make its money in one way or another but doing it in a way that most of its lenders seem to agree is unjustified will erode trust and so cost the platform in the longer term.
There will always be problems with it, including if there are errors in the loan descriptions. Even before the extension of the "Chelsea" loan, any lender who only later learned that the property had been falsely described as being in Chelsea and is really in the less expensive neighbouring London Borough of Hammersmith and Fulham, would have reason to be doubly agrieved if they'd then been penalised for exiting.
Let's hope Collateral will get this policy right.
(Disclosure I have a substantial holding in the "Chelsea" (Fulham) loan which I was more than happy to have extended - but would have preferred to have been asked.)
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oik
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Post by oik on Nov 5, 2017 10:58:29 GMT
Thanks for that. Glad to see the issue being raised again. (Was working my way down and hadn't reached that thread yet.)
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oik
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Post by oik on Nov 3, 2017 18:50:58 GMT
Evening oik , I've answered this in the thread created earlier. Many thanks, Gordon Thanks Gordon. The answer to what was answered and in which thread could I find it?
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oik
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Post by oik on Nov 3, 2017 16:22:21 GMT
Interesting. I wonder who found that lot under their mattress.
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oik
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Post by oik on Nov 3, 2017 14:48:30 GMT
(I presume there will be some way of exiting if you do not with to be in the extension?). It does not seem to be a system and more at Collateral whim. Not necessarily. See "Chelsea" (i.e. Fulham) loan. Would seem reasonable to expect those who don't want take part in an extension to be able to at least put their loan part up for sale without Collateral pocketing all their ongoing interest for the privilege. (Though they might have a long wait.)
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oik
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Post by oik on Nov 2, 2017 14:27:46 GMT
Arguably so. It certainly seems to be another change to the PF that complicates comparing the current value, now showing a coverage down to 111%, to that of previous years.
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