huxs
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Post by huxs on Sept 28, 2016 8:26:06 GMT
Hi duck , As this is the first type of group loan we will be doing, we may not put a bid limit on it. If we get feedback to suggest we should, it would still be quite high (£1,000 +). Many thanks, Gordon Given how popular these types of loan are elsewhere I would definitely recommend a limit Agreed, I am 100% sure you won't have a problem shifting this loan so a limit for £1,000ish for the first 2 hours or so would allow most to get something.
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huxs
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Post by huxs on Sept 23, 2016 13:34:13 GMT
I wonder how many people who are voting for 100% Tranche B actually intend to hold to term or will be selling out way before that v's the ones 100% in Tranche A. Also if / when the first one of these split tranches loans takes a loss how popular will the Tranche B's become.
Gross simplification I know but:
Last 3% interest = 23% LTV or 1% interest = 7.6% LTV
First 10% is 1% Interest = 4.6% LTV
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huxs
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Post by huxs on Sept 21, 2016 8:02:48 GMT
Anyone had a payment credited today yet or have we all got resolve negative balance emails? Sent mine quite early yesterday afternoon and bank is usually v reliable so I'd be surprised if it hasn't got there...so just wondering if they're jumping the gun a bit to speed people along or have in fact done todays credits already and mine is on a go slow.. I'm still showing negative even though I made a payment before 6pm last night, I do wish they would process the payments quicker or only send chaser emails up after they have reconciled payments.
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huxs
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Post by huxs on Aug 17, 2016 9:19:47 GMT
Hi MoneyThing will the old CSP loans roll-over automatically to the new larger ones? I have the renew box ticked on the loans pages but nothing showing in the invested column on the pending screen.
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huxs
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Post by huxs on Jul 27, 2016 12:49:30 GMT
What's Collateral's definition of shortly ? Up until now I interpreted this as between 10mins ago to 20mins from now but looks like it maybe longer than that ![:D](//storage.proboards.com/forum/images/smiley/grin.png) . Sounds like the latest loan is a different asset class for Collateral so would be good to have a lot more info on this loan.
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huxs
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Post by huxs on Jun 28, 2016 9:22:57 GMT
1% for 24hrs works on MT, but I guess you are better place to see how many investors are actively trying to get bits of each loan and can adjust accordingly.
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huxs
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Post by huxs on Jun 15, 2016 15:01:48 GMT
But with which Pre-Funding model ??
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huxs
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Post by huxs on Jun 15, 2016 9:27:41 GMT
Not wanting to start a long argument in what is the best approach but collateral do you have any plans on how to solve the problem of loans being gobbled so quickly. Obviously only a problem at the moment on small loans but as the platform gets more popular will become bigger and bigger.
I can tell you have looked at your competitors websites and taken the best of most but no one has yet to solve this problem what are your idea's ?
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huxs
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Post by huxs on Jun 14, 2016 15:44:55 GMT
Ok Guys An e-mail just received from SS in regards to the leases... For me that's all I was really worried about, I would now be up'ing my prefunding numbers but I just don't have the ready cash to fill 9 loans fully. To me with these feel like pretty safe bets especially as SS is taking 12mths interest up from. In addition these will most likely be easy to sell-out in 6 mths time especially if rates start moving down.
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huxs
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Post by huxs on Jun 10, 2016 8:43:55 GMT
Have a look at Collateral, very new but a good steady supply of small loans (and a couple of larger alternative loans) and a website that seems to have taken the best bits of a lot of other sites. Saying that I get the impression that a lot of people are just dabbling with it with loose change at the moment and it may become a victim of its own success (loans are too small for everyone to get a meaningful slice) once peoples confidence in the platform increases.
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huxs
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Post by huxs on Jun 8, 2016 12:41:41 GMT
Congratulations collateral a nice stead flow of loans this week, keep them coming .
I have one question and hopefully I don't get accused of look a gift horse in the mouth but can you provide a bit of background on where the borrowers for these loans come from. Have you partnered with a jewellers or upmarket pawn shop or just some asset rich cash poor individuals ? I don't want specifics (or to discuss any particular loan) but it would be interesting to know a bit about where the loan demand is coming from and what level of demand you expect in the future from your current sources.
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huxs
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Post by huxs on Jun 7, 2016 11:12:12 GMT
I agree Unbolted is a great hands free site, just set-up your auto bids put in your money and walk away, I don't have a huge amount in it but takes the least effort to managed. The flip side is that if you want to do DD and pay more attention to what you invest in (which I do on other sites) then Unbolted is probably not for you as the information provided is not great.
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huxs
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Post by huxs on May 24, 2016 12:45:48 GMT
With regards to other asset classes, we have each item pre-appraised by jewellers/trade dealers and/or collectors prior to agreeing the loan value. Once a trade value and loan value is established we then have an agreement with the valuer that, in the event of a default, they will take the goods at the loan amount as a minimum. Where prudent, we also take the interest for the period of the loan at drawdown to avoid the loan to value increasing during the loan period. We have insurance replacement valuations for many of the jewellery loans but in our experience, these are usually provided at values way in excess of the true worth of the goods and prefer to rely on the value of those that will give us the exit in the case of default. Hi collateral,
The sentence I highlighted in bold is a big selling point and you should definitely make some mention of this on the loans that this is relevant to. I am guessing most of us are waiting to see a handful of loans go through the full 6mths and payback before putting large amounts of money into Collateral but highlighting your strengths will definitely help increase investor confidence.
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huxs
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Post by huxs on May 20, 2016 15:10:09 GMT
Not a lot of positive comments above, I agree with the comments about the FS model not being as well suited as SS and MT for property deals and would love them to change. Saying that the quality of the loans don't seem too bad in most cases, for example to a layman like me the Newcastle Loan paying 13% +1% CB seem no more risking than the loans on SS.
Are people really worried about the quality of loans, specific examples would be interesting (not the Scottish Boatyard as too much has been written on that already), or more the FS business model?
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huxs
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Post by huxs on May 19, 2016 10:00:48 GMT
That is a blooming good question, I have looked at the valuations on FS and in my non-expert view most of the FS loans look ok. They are not flying off the shelf for all the reason's mentioned many times before why the SS model is favoured more than FS.
It would be good to hear from FS how they are winning so much business. But I don't see the risk on these FS loans being much worse than the SS ones.
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