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Post by Financial Thing on Jan 23, 2016 16:25:17 GMT
On the pipeline camping site loan, the title "with planning" for me is very misleading as the land has no planning permission, yet. When I read the title I assumed the land had planning permission. As always, read through the documents before you invest and buyer beware. To be fair, the valuation states "The property currently has planning and license consents for the existing touring / static caravan park use (planning reference 09/XXXX)", which is the basis on which the land has been valued for the loan. The proposed new planning application, if granted, is predicted to increase the value of the site from £2.66m to £5.75m I understand Steve but for me, when I read the description, since we are dealing with bridging and development loans, I always assume "with planning" means plans for new development / redevelopment. Guess you can't make any assumptions.
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Post by Financial Thing on Jan 23, 2016 16:18:41 GMT
On the pipeline camping site loan, the title "with planning" for me is very misleading as the land has no planning permission, yet. When I read the title I assumed the land had planning permission.
As always, read through the documents before you invest and buyer beware.
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Post by Financial Thing on Jan 22, 2016 22:43:17 GMT
For the sake of transparency and so you can protect yourselves, I've learned that when you invest in LI, you are lending money to LI, so in my opinion, it's certainly not a true p2p platform.
In the vent of LI going belly up, I think investments would be difficult to recoup.
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Post by Financial Thing on Jan 22, 2016 22:01:49 GMT
When the financial markets go down the toilet (as they did in 2007/8), the only thing concerning you now should be the p2p loan platform underwriting quality.
Yes I know it's pessimistic but it's what I believe is coming. I will continue to invest where I think loan underwriting is the strongest in order to ride out the storm.
Oh and Chris to be fair, A/C is the only platform I've had to call so I could understand how the system works. It's far from simple.
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Post by Financial Thing on Jan 21, 2016 18:11:11 GMT
Please please please MoneyThing, continue as in and don't follow SS's lead. It 'aint broke so don't fix it.
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Post by Financial Thing on Jan 20, 2016 22:34:22 GMT
chris Can you add a column which tells us which loans will default in future and which ones are 100% safe? I know you know Seriously though good work on the changes.
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Post by Financial Thing on Jan 20, 2016 11:22:47 GMT
Ed, I wonder if you can come up with a scheme to give priority in the next one to those who missed out this time. I think what you're asking Ed isn't realistic.
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Post by Financial Thing on Jan 20, 2016 11:20:18 GMT
I noticed a bit of sluggishness, possibly for the first time, at 4pm today. Every other loan launch its been really quick to respond. Didn't stop me getting what I wanted, just took a few seconds longer than other recent ones.. Really? Did anyone else notice a slowdown? Site seemed fine to me
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Post by Financial Thing on Jan 19, 2016 16:02:01 GMT
well that one went quick
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Post by Financial Thing on Jan 17, 2016 13:33:54 GMT
From my understanding in order for these platforms to gain full FCA authorization, they have to provide a secondary market so hopefully in the not too distant future.
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Post by Financial Thing on Jan 15, 2016 11:38:52 GMT
Well done. Once your underwriting standards are lowered, I head for the exits. Personally I don't know why things changed. It's better to see upcoming loans in advance even if they do end up changing or dropping off. Not sure why all the complaints. Chris your team will never please everyone all the time. Especially dealing with people and money. The problem was/is that when the loans were listed well in advance countless complaints were made by people saying they had money sitting in their MLIA earning nothing for weeks on end so they wanted an indication of the drawdown date. Doesn't the QAA solve this problem?
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General P2x Discussion
2016 crash
Jan 15, 2016 11:26:37 GMT
Post by Financial Thing on Jan 15, 2016 11:26:37 GMT
I don't think that's remotely true. Even if they are all first charges (not all are), some properties will have much more uncertain values than others, 100% agree regarding property. I just discovered one of the new offerings on a property equity site was 20% overvalued. Please don't trust the supplied valuations and do your DD. I'm of the belief that a large correction is coming (of course no one knows when but all the red warning flags are staring us in the face). I'm sitting about 75% cash. I wouldn't touch the FTSE100 at all at the moment. Much safer in the US Indexes now IMO.
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General P2x Discussion
2016 crash
Jan 15, 2016 11:23:15 GMT
Post by Financial Thing on Jan 15, 2016 11:23:15 GMT
What would be a safe alternative? Ultra-short dated gilts? Gold? I’ve still got some in my portfolio. Gold is actually very risky and returns are based on pure luck of jumping in and out at correct times. If you bought gold in Jan 2008 and held until now, you'd have made 2.8% annually (adjusted for inflation). Better off betting on stocks or the roulette wheel.
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Post by Financial Thing on Jan 15, 2016 11:13:21 GMT
We could easily be generating tens of millions of pounds of loans a month were we to drop our credit standards but we're refusing to do so. We will not compromise our offering no matter how painful it is trying to get to the right borrowers and the right rates to generate volume. Well done. Once your underwriting standards are lowered, I head for the exits. Personally I don't know why things changed. It's better to see upcoming loans in advance even if they do end up changing or dropping off. Not sure why all the complaints. Chris your team will never please everyone all the time. Especially dealing with people and money.
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Post by Financial Thing on Jan 13, 2016 17:34:01 GMT
What are views on the new Eastbourne Property offered? Not sure I like the numbers.
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