|
Post by df on Mar 22, 2021 12:47:59 GMT
£225 remaining in Trance A of the 6 month loan against a Rolex 16200 Date-just. ... and 84.33% LTV gold coin will probably be available soon. No e-mail about this one yet. a) £5,000 b) £2,500 c) £1,000
|
|
jcb208
Member of DD Central
Posts: 829
Likes: 614
|
Post by jcb208 on Mar 22, 2021 13:29:29 GMT
Does make me wonder why some on takes out a loan of nearly 40% on gold coins you can buy easy
|
|
nyneil
Member of DD Central
Posts: 349
Likes: 438
|
Post by nyneil on Mar 22, 2021 14:31:24 GMT
Does make me wonder why some on takes out a loan of nearly 40% on gold coins you can buy easy Cash flow problems?
|
|
jcb208
Member of DD Central
Posts: 829
Likes: 614
|
Post by jcb208 on Mar 22, 2021 14:38:57 GMT
Does make me wonder why some one takes out a loan of nearly 40% on gold coins you can buy easy Cash flow problems? Sell them and be done with unless sentimental value
|
|
Greenwood2
Member of DD Central
Posts: 4,333
Likes: 2,753
|
Post by Greenwood2 on Mar 22, 2021 14:44:52 GMT
Sell them and be done with unless sentimental value The one shown is pretty new so doubtful sentimental value. Spread between selling and buying, risk of Gold prices rising maybe, but I tend to agree.
|
|
Nomad
Member of DD Central
Posts: 749
Likes: 505
|
Post by Nomad on Mar 22, 2021 16:15:47 GMT
Seem to have cocked up the limits. Wont let you invest £50 in a tranche if you only have £50 on the platfomr, limited to 50% funds for tranche C, 75% for tranche B connectivelending thats not how bid limits normally work! Bid limit not yet lifted. Wasn't it 24 hours from 4pm Friday?
|
|
|
Post by Ace on Mar 23, 2021 22:26:25 GMT
Plenty of availability on the coins loan.
Does anyone know what the Renew button on the Active Loans page is for? I can turn it on and off, but couldn't find an explanation of what it meant.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,214
Likes: 11,405
|
Post by ilmoro on Mar 23, 2021 22:59:11 GMT
Plenty of availability on the coins loan. Does anyone know what the Renew button on the Active Loans page is for? I can turn it on and off, but couldn't find an explanation of what it meant. Feature carried over from FS I assume. If the borrower decides to renew a loan then lenders have the option to automatically rollover into the new loan rather than have to bid. Useful for small loans where FFF is likely once the platform has gained traction. Sort of covered in t&cs 7.5 Lenders in the original Loan may, at their discretion, choose to advance further lending in the renewed Loan.
|
|
|
Post by Ace on Mar 23, 2021 23:04:32 GMT
Plenty of availability on the coins loan. Does anyone know what the Renew button on the Active Loans page is for? I can turn it on and off, but couldn't find an explanation of what it meant. Feature carried over from FS I assume. If the borrower decides to renew a loan then lenders have the option to automatically rollover into the new loan rather than have to bid. Useful for small loans where FFF is likely once the platform has gained traction. Sort of covered in t&cs 7.5 Lenders in the original Loan may, at their discretion, choose to advance further lending in the renewed Loan. Thanks. I never used FS. Seems odd that it's not explained anywhere, and odd that the buttons are active when the loans are less than a month old.
|
|
|
Post by df on Mar 24, 2021 12:41:45 GMT
Feature carried over from FS I assume. If the borrower decides to renew a loan then lenders have the option to automatically rollover into the new loan rather than have to bid. Useful for small loans where FFF is likely once the platform has gained traction. Sort of covered in t&cs 7.5 Lenders in the original Loan may, at their discretion, choose to advance further lending in the renewed Loan. Thanks. I never used FS. Seems odd that it's not explained anywhere, and odd that the buttons are active when the loans are less than a month old. On FS the tick box was available at the time of bidding, but ticking it at that point (a few milliseconds delay) could jeopardise your investment - small bling loans were taken in a couple of seconds CL website seems to be very thin on explanations. Some features can be confusing for those who never used FS.
|
|
nyneil
Member of DD Central
Posts: 349
Likes: 438
|
Post by nyneil on Mar 24, 2021 14:54:18 GMT
Feature carried over from FS I assume. If the borrower decides to renew a loan then lenders have the option to automatically rollover into the new loan rather than have to bid. Useful for small loans where FFF is likely once the platform has gained traction. Sort of covered in t&cs 7.5 Lenders in the original Loan may, at their discretion, choose to advance further lending in the renewed Loan. Thanks. I never used FS. Seems odd that it's not explained anywhere, and odd that the buttons are active when the loans are less than a month old. My experience with FS was that loans which renew were likely to default, especially if the previous interest was capitalised. The renew option will be staying off, for me. I'm surprised there hasn't been a quicker take up for the coins. Tranche A, 8% for c50% LTV on easily valued and saleable items, is quite rare for p2p. Is it concern about the unknown level of platform risk, or aren't there enough investors on board, yet?
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,792
Likes: 3,213
|
Post by jonno on Mar 24, 2021 15:49:41 GMT
Thanks. I never used FS. Seems odd that it's not explained anywhere, and odd that the buttons are active when the loans are less than a month old. My experience with FS was that loans which renew were likely to default, especially if the previous interest was capitalised. The renew option will be staying off, for me. I'm surprised there hasn't been a quicker take up for the coins. Tranche A, 8% for c50% LTV on easily valued and saleable items, is quite rare for p2p. Is it concern about the unknown level of platform risk, or aren't there enough investors on board, yet? Mmm, I was wondering about this. I think the shadow of Coll (and FS) is hanging over this platform, understandably so. Coll had a number of these"safe" coin loans, and after two+ years we still don't know what's happened with them. If these were on Unb, they'd have gone in a flash as per normal. P2P is now very much about trust in the platform probably above trust in the assets which I think is were it all started off; no doubt due to the torrid experience to date of platform failure.
|
|
|
Post by connectivelending on Mar 24, 2021 17:56:59 GMT
Dear All, We are not actively marketing for new investors while we are in the beta testing phase hence a slower rate of loans being filled. We thank you for your patience while we iron out some coding issues such as the bid restriction issue and we do take on your comments and we are using them to improve our platform. When we use the phrase underwritten it does mean that in the event of default, or maybe no sale at an auction, then the asset will be sold for capital and interest, at a minimum, to another company owned by a director. This can be relied upon. Daniel Grimes understands that you, the investors, are interested in capital and interest paid in a timely manner whereas he is used to owning assets and waiting for maturity and a length of time to achieve a sale. This is his business model and has been for many years. Thank you very much once again and hopefully we can become a better and easier to use platform in the coming months. We have some good work in the pipeline to help make this happen.
Kind regards Connective Lending
|
|
|
Post by df on Mar 24, 2021 18:25:43 GMT
Thanks. I never used FS. Seems odd that it's not explained anywhere, and odd that the buttons are active when the loans are less than a month old. My experience with FS was that loans which renew were likely to default, especially if the previous interest was capitalised. The renew option will be staying off, for me. I'm surprised there hasn't been a quicker take up for the coins. Tranche A, 8% for c50% LTV on easily valued and saleable items, is quite rare for p2p. Is it concern about the unknown level of platform risk, or aren't there enough investors on board, yet? I think "not enough investors" is the answer. You can see how many investors are in each loan (about 20) and this coin loan is quite large comparing to others.
|
|
iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
|
Post by iRobot on Mar 24, 2021 19:18:22 GMT
Dear All, We are not actively marketing for new investors while we are in the beta testing phase hence a slower rate of loans being filled. We thank you for your patience while we iron out some coding issues such as the bid restriction issue and we do take on your comments and we are using them to improve our platform. When we use the phrase underwritten it does mean that in the event of default, or maybe no sale at an auction, then the asset will be sold for capital and interest, at a minimum, to another company owned by a director. This can be relied upon. Daniel Grimes understands that you, the investors, are interested in capital and interest paid in a timely manner whereas he is used to owning assets and waiting for maturity and a length of time to achieve a sale. This is his business model and has been for many years. Thank you very much once again and hopefully we can become a better and easier to use platform in the coming months. We have some good work in the pipeline to help make this happen. Kind regards Connective Lending Thanks for maintaining a dialogue here, connectivelending - platform participation is always appreciated. With regard to this - and particularly this part of it - could I float a hypothetical situation by you, pls? If a borrower defaults and the loan goes to auction and sells for below the level required to cover fees associated with the auction plus lender capital plus lender interest, would Connective Lending make up the difference? Forgive the pedantic nature of my approach but, in my opinion, there should be no room for the word "maybe" in formal communications to lenders. This should be a case of: 'If the loan is deemed to be Underwritten then, in the event of default, Connective Lending will return all Capital and Interest to Lenders within XX days of the loan's term date.' No 'ifs, buts or maybes' just a statement of fact in which investors can be confident and by which Connective Lending can be measured. By introducing a 'maybe' Connective Lending's position on Underwritten loans becomes subjective. For example, it might be tempting to keep listing at auction (incurring increased fees) until it does sell. Cynical conspiracy theorists might even conject that, in the absence of a commitment to make good on any shortfall, it would be in the interests of the " company owned by a director" to monitor the auction, place the winning bid and potentially save a few quid by buying it on the cheap!
|
|