elliotn
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Post by elliotn on Nov 16, 2017 7:24:05 GMT
I am confused, how can there be a problem about visiting the sight and giving an update? Timmy's photo updates are priceless. Timmy has permission from the publisher. Platform t&c's typically mandate that you make no attempt to contact the borrower. MT refused permission to a forum member who had visited a loan property (although admittedly over-stepping the mark by suggesting links to the platform). Any systematic attempts to take evidence of borrowers' property sites might not be looked upon too kindly particularly if there were any sensitivites with an ongoing development.
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elliotn
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Post by elliotn on Nov 16, 2017 1:44:35 GMT
Threw it into MH, I had previously reduced my holding in that one, and of all the loans currently on MT to me its the safest bet, low LTV, all leases signed etc
Happy to hold a bit extra in that loan. Yep, went back in with a hold to term amount, I love the new funders paying for phase 2 and improving our 1C, looking forward to the Feb18 extension .
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elliotn
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Post by elliotn on Nov 16, 2017 1:40:34 GMT
Please badge those that trade/flip from their taxable to tax free accounts.
Tagging James.
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elliotn
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Post by elliotn on Nov 16, 2017 1:36:10 GMT
I certainly value comments made by those able to drive by, even taking pics in some cases. This may not seem like dry DD, but is a very real check on what is happening if Platforms are sharing bluster about progress etc. We may need to check platforms' t&c's about visiting borrowers' sites.
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elliotn
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Post by elliotn on Nov 15, 2017 16:15:22 GMT
Something appears to have gone horribly wrong with the ‘Fully funded’ loan banners transformed into a lurid orange.
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elliotn
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Post by elliotn on Nov 15, 2017 15:41:31 GMT
Due to drawdown / revert to 90 days remaining on Friday.
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elliotn
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Post by elliotn on Nov 15, 2017 15:29:29 GMT
Tyvm for the updates + email notification, v useful 😊 . If this will be more regular as QS onboards, could these be grouped under a Recent Updates tab on Available Loans as well to make these readily accessible. The notification was v handy too, ty.
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elliotn
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Post by elliotn on Nov 15, 2017 15:04:43 GMT
This is a brilliant idea and I have been mulling some ideas on a standard of DD for loans. What I don't understand is why there is a limit of 50 posts? That basically excludes new users and long term beneficiaries of this forum who like me are either learning or find other users have got to the info before them and have not engaged in the small talk. I think part of the rationale is to stop any individual setting up an account with an agenda (borrower, lender, rep etc) to spread fake news. Also it recognises those that have engaged in and contributed to the forum rather than simply lurked. It is arbitrary though as any reasonably objective forum criteria would be.
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elliotn
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Post by elliotn on Nov 15, 2017 13:59:46 GMT
Damn, terrible timing for a false alert fire alarm at work I deposited funds for this as I had been drawing down due to being around max per loan, now I need to decide whether to sit or pull it back out With loans being slow it could be there for some time Could just throw it around I guess I split the difference and withdrew half, there's been a steady trickle of decent loans on SM plus pipeline suggests might be a loan or two this week. Edit -X'd with above, am reading chronologically!
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elliotn
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Post by elliotn on Nov 15, 2017 11:37:52 GMT
If it were defined, rather than a matter of 'belief', then people could make such decisions about it, Steve. At present it is a secret club, which I 'believe' has been formed by recruiting members of the forum. All we have is the name, and a message of thanks.
I'm not sure abl know who the forum members are, perhaps they invite based on their own lenders and active investors happen to overlap here anonomously, I can't imagine David spending his time PMing people on fora to join when he has so much on his plate. Also it's not secret from what I can tell as abl explained how underwritten amounts were made on here to dan1 a couple of months ago as well as the email confirmation. David explianed that the system being trialled with u/w's might also be rolled out in the UI overhaul coming shortly. AC have used underwiters that also happen to have been members of this forum, Ly have used u/w's, FS front load the bids of their BHs in popular loans who, yes, may also research online including this forum. I think talk of furtive, Masonic clubs recruited in smoky PM chains is a bit off the mark when use of u/w's seems quite common industry practise. Disclaimer - I never have been (and presumably never will be able to afford to be) a platform underwriter.
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elliotn
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Post by elliotn on Nov 15, 2017 11:33:39 GMT
Perhaps pro-club could be hived off from the main loan thread (or now the loans no longer exist re-badge this one!).
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elliotn
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Post by elliotn on Nov 15, 2017 1:43:33 GMT
A problem it creates is that when people log in to the platform and they see masses of availability on the secondary market it doesn't create a very good impression and creates the impression that liquidity is bad and this may put some people off. In fact liquidity of quality loans on COL is quite good as I have been doing some trimming over the last few days and have always managed to sell within 24 hours. In my opinion this particular loan is not a quality loan and I therefore expect it to be a slow seller. The cashback hunters are playing a risky game because as my mentor, CD, taught me, a loan can, in theory at least, default or be suspended from trading at any time. Is your main bugbear it thwarts your strategy of secondary market recycling of your own loan parts (whether it be a CB loan or the SM impression it gives for your other loans)? To me it looks like an accelerated version of your exact strategy of not wanting to hold loans to term. They have four months to sell, let them be and save your sanctimony. Disclaimer - whilst holding judgement on those that choose a more tax efficient p2p strategy, I am holding my own loan parts. I have however put up small queue markers in each to georget it should the Christmas markets allow a little diversification .
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elliotn
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Post by elliotn on Nov 14, 2017 16:11:45 GMT
I think Lendy are making up the rules again as they go, the change in days remaining is as per the agreed extension, but no where is it confirmed that the 5 months interest on the existing £12.5m loan has been received? See DFL06, where an extension of 3 months has been agreed, but only 1 months interest received, hence the expiry date was only moved 30 days! Obviously, I expect that they will deduct the interest required from the new tranche, but that has not yet been funded, and so the current situation is highly misleading (IMO). If that's the case (Im not suggesting it is or is not) is this legal, misleading investors in such a way? I’m not sure showing remaining days is a legal requirement, it always used to be out of kilter, it’s more indicative - if it's in the terms and conditions you may be able to escalate via Lendy's complaints' procedure though.
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elliotn
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Post by elliotn on Nov 14, 2017 16:07:20 GMT
Whatever makes you feel comfortable.
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elliotn
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Post by elliotn on Nov 14, 2017 15:08:00 GMT
A flipping disappointment Relatively minor compared to waking up and finding over a 1/4M on Coll!
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