ali
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Post by ali on Sept 1, 2016 14:08:57 GMT
Just gone live I think the allocation is £1000... I got £1500 (what I asked for). Looks like adrianc was right.
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ali
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Post by ali on Sept 1, 2016 10:31:07 GMT
Mine are now correct (at least for now!).
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ali
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Post by ali on Sept 1, 2016 8:16:40 GMT
They still haven't corrected that glitch on the account page. All the interest is dated as start 1 September, end 1st September. Shouldn't it be start 1 August, end 31 August? On new loans like the Rolls Royce, there is even a case for start 30 August, end 31 August, though if the system is just to show interest for the month that is not essential. Well, that's a matter of interpretation. To my mind, the start and end dates are for the holding. That doesn't really have a meaning with cash. The handling of interest is the same as a deposit, and seems a perfectly reasonable way of show it.
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ali
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Post by ali on Sept 1, 2016 7:18:31 GMT
And I seem to have had £2.76 interest clawed back with no entry in the transactions log. Hmm.
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ali
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Post by ali on Aug 31, 2016 22:24:47 GMT
TBH, I think it's going to be academic. My prediction's 100%. I'd be astounded. There's a lot of cash sloshing around at present and PBL127 is much smaller. The LTV is good which, at the end of the day, is what counts. I'm sure some people will hold back preferring something further down in the pipeline, but I think a significant number of people will not.
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ali
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Post by ali on Aug 30, 2016 20:08:49 GMT
However, I like the look of this loan. A very good exit plan, solid PP (pending) and the security looks sound. I agree. My slight concern is that the value would drop significantly if PP was refused. I think that's unlikely, even with 4 objections, given that it's in a residential area. I note that the target date for a decision is Thursday so we may well know the outcome before the loan goes live anyway in which case the security looks very strong.
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ali
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General P2x Discussion
P2P ISA
Aug 30, 2016 18:42:21 GMT
Post by ali on Aug 30, 2016 18:42:21 GMT
It's an interesting question. I've got a feeling that the banks/building societies are also more money sensitive than you might imagine. That is, if some significant amount of money started flowing out into P2P (or anywhere), then I suspect they would increase their rates until the flow was balanced out again.
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ali
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Post by ali on Aug 30, 2016 16:56:55 GMT
Bramley, Surrey - property was marketed at £800k, bought for £1065k as investment. Valuation £970k,loan £679k. I would treat it like 85% LTV. (679/800) Why? It was marketed at £800K, yes. But that could mean: a) the estate agent undervalued it, b) it was marketed at a level intended to garner lots of interest, or c) the seller needed the money fast. The fact is it was sold for £1m+ and it is reported that there were a number of £1m+ offers. I see no reason to doubt the £970K valuation.
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ali
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Post by ali on Aug 30, 2016 7:17:34 GMT
Good idea. Something else that would be informative would be the platform's default rate and subsequent recovery rate.
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ali
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Post by ali on Aug 26, 2016 15:36:32 GMT
Does anyone know how SM bids affect your balance? The guide linked in the top post talks about the maximum possible accrued interest being deducted from the cash available. Is an allowance also made for discounts/premiums. To take my (huge) account as an example, is this right: Funds currently lent
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| 1,926.05 | Cash |
| 124.73 | Bids on PM
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| 350.00
| Bids on SM
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| 600.00 |
| Discounts | -8.60 |
| 1 period interest
| 5.00 | Balance |
| 2,997.18 |
TIA
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ali
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Post by ali on Aug 25, 2016 20:32:15 GMT
I have a small amount <1K , i like Collateral, i like the novelty jewelry items and loose gems and the website , but unfortunately lots of small loans means lots of time, but i will stay with them, and invest more when the assets become larger, ie property. Fair enough. For me, there are plenty of platforms doing property. Property is always the best security, but I prefer not to have all my eggs in one basket. So for me, it's the jewelry that's the attraction of Collateral.
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ali
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Post by ali on Aug 25, 2016 20:01:14 GMT
There are a couple on 58 days, which look to be the first.
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ali
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Post by ali on Aug 22, 2016 13:31:39 GMT
I think the problem though is that in the case of the Bootle loan 86% is available and it moves very slowly. Consequently anyone putting up parts for sale could conceivably receive NIL interest for the remaining life of the loan. I know us more experienced folk would understand this, but there may be newbies/less experienced who wouldn't. Perhaps this should be alluded to? Yes, absolutely. That should be the primary thrust of the warning text. If you wanted to be extra nice you could state how much interest would be lost per day while the loan remained unsold.
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ali
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Post by ali on Aug 22, 2016 13:07:23 GMT
If you can't sell anyway and you stop earning interest then I think the system should stop you from listing, or at least warn you. Why? The situation is no different to the Saving Stream SM, except Collateral's PM funds take priority over lender's funds, so it's last in last out. You can still sell, but you are at the back of the queue until someone else adds more funds, so if Collateral's unsold funds are £1000, and you put your £100 loan part up for sale, if one investor chooses to buy £1100, both Collateral's and your own funds are returned. Very true. In an ideal world, a warning would be issued if the queue (making no distinction between PM and SM) was predicted to take more than a certain number of days (7 perhaps?) to sell at current rates.
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ali
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Post by ali on Aug 21, 2016 7:17:04 GMT
What I had in mind was something like this :- 6 months - as now 12 months - as now 18 months - 9 months, 1 renewal 24 months - 8 months, 2 renewals 30 months - 10 months, 2 renewals 36 months - 12 months, 2 renewals 42 months - 11 months, 2 renewals, then renewed again for 9 months 48 months - 7 months, 5 renewals, then renewed again for 6 months That gives a wide range of terms but each individual one is short. The renewals fall in different months (usually) so won't need a lot of money to cover. I can see that such a scheme would be good for the SM so that new investors would be more likely to find loans to diversify into. I'm not convinced it would make any difference to the primary market. I'm not quite clear what MT's "problem" is. Why are they struggling to fill FP455 et. al.? (and, perhaps more importantly, why did they decide they couldn't be confident of filling the new loan they were considering?). For my part, I have put as much into FP455 as my diversity limits would allow (and I've got cash sitting in the platform looking for loans). Is that true for the majority of investors or is there some inertia which is preventing people swapping some of their old loans for new ones thus improving their diversity and allowing newer investors like me to spread our cash further and thus put more cash into the platform? And if there is such an inertia, would your scheme help reduce it?
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