dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Mar 31, 2022 14:53:53 GMT
Launching 1/4/2022 #Hales Road - Bridge 7.5% x 15m Months
We also want to increase the number of investors who are able to participate in our loans. So, for this loan, we have added a £5,000 limit on AutoLend. This means that the maximum amount any investor will be able to lend on this loan, through AutoLend, is £5,000.
We have recently introduced this cap to allow more lenders to participate in each loan. At the moment we are testing a 1% cap on the loan amount for autolenders with a minimum cap at £5,000.
If you have turned your AutoLend ON prior to 17th January 2022 you should automatically be able to lend on this loan.
We have two other loans expected to be listed next week (£880,000 and £215,000).
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,022
Likes: 591
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Post by dave4 on Apr 4, 2022 15:03:35 GMT
Loan launch #St#ckley - Loan 2 Rate : 8.00% p.a. Term : 17 months If you have turned your AutoLend ON prior to 3rd November 2021 (Ia increase from 17th Jan to 6 months Que of idle funds!) you should automatically be able to lend on this loan. (my bold)
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Post by Ace on Apr 7, 2022 16:18:49 GMT
Loan launch tomorrow (8th April 2022) for £880k S# n*#a - Loan 1 Rate : 7.35% p.a. Term : 21 months If you have turned your AutoLend ON prior to 5th April 2022 you should automatically be able to lend on this loan. A massive leap forward in the queue, presumably due to the loan size. Could also be that the rate is too low for some in the queue.
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Post by overthehill on Apr 8, 2022 9:07:12 GMT
Loan launch tomorrow (8th April 2022) for £880k S# n *#a - Loan 1 Rate : 7.35% p.a. Term : 21 months If you have turned your AutoLend ON prior to 5th April 2022 you should automatically be able to lend on this loan. A massive leap forward in the queue, presumably due to the loan size. Could also be that the rate is too low for some in the queue.
HNW investor well running dry ? Exited a while back, not wasting time on their BS. We'll see how their investor strategy works out.
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Post by Ace on Apr 8, 2022 9:36:01 GMT
Loan launch tomorrow (8th April 2022) for £880k S# n *#a - Loan 1 Rate : 7.35% p.a. Term : 21 months If you have turned your AutoLend ON prior to 5th April 2022 you should automatically be able to lend on this loan. A massive leap forward in the queue, presumably due to the loan size. Could also be that the rate is too low for some in the queue.
HNW well running dry ? Exited a while back, not wasting time on their BS. We'll see how their investor strategy works out.
I'm still maintaining on HNW, just. I don't look at loans under 8% on the property platforms with large minimums (HNW, Shojin, CapitalStackers, SoMo, Proplend, Blend, CapitalRise, Landlordinvest). I'll go a bit lower on platforms where I can easily get very highly diversified. I have just added £1k to Blend to mark my pace in the queue while it's very short. It's a bit of a gamble as I'll be sent to the back of the queue again if I don't add another £1k as soon as notification of a new loan over 8% is announced, due to their daft queue mechanics.
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Post by overthehill on Apr 8, 2022 10:10:26 GMT
HNW well running dry ? Exited a while back, not wasting time on their BS. We'll see how their investor strategy works out.
I'm still maintaining on HNW, just. I don't look at loans under 8% on the property platforms with large minimums (HNW, Shojin, CapitalStackers, SoMo, Proplend, Blend, CapitalRise, Landlordinvest). I'll go a bit lower on platforms where I can easily get very highly diversified. I have just added £1k to Blend to mark my pace in the queue while it's very short. It's a bit of a gamble as I'll be sent to the back of the queue again if I don't add another £1k as soon as notification of a new loan over 8% is announced, due to their daft queue mechanics. I meant Blend's HNW investor pool is maybe running dry ! Plenty of choice for development loan platforms at 7.2% if they stay there.
You're braver than me, I'm not a fan of large amounts in 2nd charge loans on any platform, I do a few targetted ones such as Proplend, it only takes a couple of capital losses to wipeout any past high interest gains. Just my ideology.
I like HNW but I'm out at the moment. They were claiming no losses but I'm fairly sure there has been as reported in the forum.
I like SOMO but not what is happening at the moment. I'll call it an investor stress test.
SHOJIN and Capitalstackers could turn out to be good investments but mostly 5k 2nd charges.
Capitalrise - no worries here, diversify and use the same max on every loan.
Landlordinvest Senior loans and Proplend Tranche A - very few if any of these loans are going to lose capital, even an unlikely 40% capital recovery would not be a disaster.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 21, 2022 14:11:15 GMT
launching 22/4/2022 #Swansea - Loan 2 7.35% x 21m If you have turned your AutoLend ON prior to 27th January 2022 you should automatically be able to lend on this loan. £5,000 limit on AutoLend
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,022
Likes: 591
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Post by dave4 on Jun 27, 2022 18:50:04 GMT
#loan launch 7pm. Warkworth Lodge, Warkworth Terrace, Cambridge into 9 apartments Rate : 7.00% p.a. Term : 26 months. NO auto invest Q
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Post by Ace on Jul 21, 2022 20:41:40 GMT
I've modified the thread tittle. See the EDIT comment in the OP for details. Basically, Blends autolend system is less bad than it used to be due to quicker deposit times and a reduced queue size.
I still think they should redesign it, but I find it just about workable now.
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Post by Ace on Jul 25, 2022 12:33:43 GMT
Another new development loan has been listed on Blend. 8% coupon, 70% LTV. Retained interest to be paid monthly.
This time there's no limit and no queue. Manual availability is expected as well.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,022
Likes: 591
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Post by dave4 on Aug 2, 2022 16:56:32 GMT
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Post by Ace on Feb 13, 2023 18:04:18 GMT
Blend's auto lend is back to the "it sucks" state. They've just announced a new loan at 8% pa for 19 months. There's no mention of the fact that the effective rate is 6.9% pa at best owing to the forced cash drag of at least 3 months.
Utter madness.
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matt64
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Post by matt64 on Feb 13, 2023 18:57:01 GMT
I've just signed up to Blend, thinking that the AutoLend might take 2 months at most and some loans would come through faster, so the delay with the latest loan is not ideal. Does anyone know the delays on the previous few loans? Is it not normally this long?
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Post by Ace on Feb 13, 2023 19:25:50 GMT
I've just signed up to Blend, thinking that the AutoLend might take 2 months at most and some loans would come through faster, so the delay with the latest loan is not ideal. Does anyone know the delays on the previous few loans? Is it not normally this long? It obviously depends on the size of the loans and the amount of queued funds. The dates for the last 4 loans were: LISTING DATE | LATEST FUNDING DATE | 13/2/23 | 15/11/22 | 23/1/23 | 29/10/22 | 19/1/23 | 22/11/22 | 12/12/22 | 13/10/22 |
EDIT: Fixed first LATEST FUNDING DATE from 15/10/22 to 15/11/22.
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matt64
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Post by matt64 on Feb 13, 2023 19:36:33 GMT
LISTING DATE | LATEST FUNDING DATE | 13/2/23 | 15/10/22 | 23/1/23 | 29/10/22 | 19/1/23 | 22/11/22 | 12/12/22 | 13/10/22 |
Thanks, though the first row should have 15/11/2022. Are the other dates correct?
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