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Post by investandlearn on May 2, 2021 13:02:42 GMT
One of the directors has years of experience within pawnbroking so dealing with repayments and the sale of any unredeemed loans you would think is standard practice for him. As for the watch that has just recently been posted, these luxury watch brands are currently just going up in value due to the limited supply of them. A friend of mine tried to purchase a similar one from Rolex recently and was told the waiting list for these is years.
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Post by Mr Baggy on May 4, 2021 18:24:55 GMT
Is interest paid monthly on this platform.
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Post by Ace on May 4, 2021 18:29:50 GMT
Is interest paid monthly on this platform. No. At maturity (6 months).
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Post by df on May 4, 2021 22:07:04 GMT
Probably down to lack of advertising, but then spending too much on marketing could mean taking too much risk for the business. The platform itself may not be overly unhappy with progress to date, they must have been aware that confidence and trust would be hard won. The loans are filling (in truth probably in a realistic time), the key has to be how the loan exits perform and that by default will be an unknown for a good few months yet. I suspect once a track record is established investor numbers will soon expand if they establish trust. This particular loan in my case holds fairly low interest, I just struggle with a watch having that kind of value. Gold coins I can see where the value is. One can establish trust with existing investors, but to significantly expand the numbers they'll need to engage in some marketing. I struggle to understand why these watches have such high value, but can't remember any of Rolex loans bringing any loss. I might be wrong, but I treat them at the same risk level as coins.
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Post by connectivelending on May 5, 2021 13:51:18 GMT
The platform itself may not be overly unhappy with progress to date, they must have been aware that confidence and trust would be hard won. The loans are filling (in truth probably in a realistic time), the key has to be how the loan exits perform and that by default will be an unknown for a good few months yet. I suspect once a track record is established investor numbers will soon expand if they establish trust. This particular loan in my case holds fairly low interest, I just struggle with a watch having that kind of value. Gold coins I can see where the value is. One can establish trust with existing investors, but to significantly expand the numbers they'll need to engage in some marketing. I struggle to understand why these watches have such high value, but can't remember any of Rolex loans bringing any loss. I might be wrong, but I treat them at the same risk level as coins. Dear All, It’s been a while since we commented on the forum and with some interesting points raised over the last few days, I thought I would take the time to address a few of them. Regarding number of registered lenders to date, apart from the communication we made on this forum, we had not been actively marketing for new lenders. We understand there is a requirement of trust and confidence to be developed, alongside expectation. A fair balance is required between the current lenders we have recruited and the expected loan feed to ensure each lender could participate in a loan rather than being disappointed in missing out. To date we feel that the balance has been about right. However, with the expectation of an increased loan feed we have recently began a new marketing campaign to steadily increase the number of lenders parallel to the new loans we introduce over the coming months. We would also like to address the interesting point raised about watches and the high values they command. Similar to other assets such as cars, fine arts etc, certain brands of Swiss watches have increased in values over the years due to their desirability, popularity, uniqueness and in certain cases low numbers of production. Watches can command a high value due to demand from collectors, enthusiasts or even first-time buyers for a particular type of watch. Special edition watches like the Rolex GMT-II ‘Batman’ or ‘Hulk’ Submariner have appreciated due to the low numbers produced effectively increasing values. Also, demand from a new younger buyer and interest from overseas has resulted in values for certain Swiss brands appreciating. Like any asset the values can increase and decrease however, our opinion is we see the watch market remaining strong as the accessibility and enthusiasm for Swiss brands grows. Kind regards
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Post by Ace on May 11, 2021 15:42:15 GMT
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jonno
Member of DD Central
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Post by jonno on May 12, 2021 9:36:17 GMT
Jeez Ace, you're brave
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littleoldlady
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Post by littleoldlady on May 12, 2021 11:59:28 GMT
Jeez Ace , you're brave Yes but possibly shrewd as well as brave. My experience of p2p (L, FS, MT etc) is that it was possible to make good returns in the early years, particularly if there is a functioning SM. The problems have come when a platform gets over confident with high demand from lenders and have tried to expand too fast. The trick is to look for the early signs of trouble and get out. There are one or two platforms which I obviously cannot name which IMHO are exhibiting danger signs despite their current popularity. We each have to take our individual DD and decisions based on our personal risk profile.
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toffeeboy
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Post by toffeeboy on May 12, 2021 12:23:49 GMT
Jeez Ace , you're brave Yes but possibly shrewd as well as brave. My experience of p2p (L, FS, MT etc) is that it was possible to make good returns in the early years, particularly if there is a functioning SM. The problems have come when a platform gets over confident with high demand from lenders and have tried to expand too fast. The trick is to look for the early signs of trouble and get out. There are one or two platforms which I obviously cannot name which IMHO are exhibiting danger signs despite their current popularity. We each have to take our individual DD and decisions based on our personal risk profile. I think the ability to expand too fast is limited within the pawn side of P2P, the potential borrowers are limited and the loans a lot smaller that the sites that you have mentioned. It is a bit early to be talking ISA when they haven't offered enough loans for anyone to lend this years available ISA yet.
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Post by Ace on May 12, 2021 12:53:59 GMT
Yes but possibly shrewd as well as brave. My experience of p2p (L, FS, MT etc) is that it was possible to make good returns in the early years, particularly if there is a functioning SM. The problems have come when a platform gets over confident with high demand from lenders and have tried to expand too fast. The trick is to look for the early signs of trouble and get out. There are one or two platforms which I obviously cannot name which IMHO are exhibiting danger signs despite their current popularity. We each have to take our individual DD and decisions based on our personal risk profile. I think the ability to expand too fast is limited within the pawn side of P2P, the potential borrowers are limited and the loans a lot smaller that the sites that you have mentioned. It is a bit early to be talking ISA when they haven't offered enough loans for anyone to lend this years available ISA yet. I wouldn't be wanting to use a full year's ISA allowance on this platform at such an early stage. I load any unused ISA allowance into a cash ISA at the end of each tax year. This allows me to transfer and split that allowance over as many platforms as I like the following year (this year). Given that this platform is currently quoting rates at the higher end of the P2P spectrum, I would like to be able to protect the interest that I am expecting here from tax.
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Post by connectivelending on May 12, 2021 15:30:35 GMT
Hi Ace, Thank you for your question. At this moment we do not intend to introduce an ISA at this stage. Subject to the growth of the platform (in particular lenders and loan volumes) we will review this position.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on May 12, 2021 15:54:19 GMT
Yes but possibly shrewd as well as brave. My experience of p2p (L, FS, MT etc) is that it was possible to make good returns in the early years, particularly if there is a functioning SM. The problems have come when a platform gets over confident with high demand from lenders and have tried to expand too fast. The trick is to look for the early signs of trouble and get out. There are one or two platforms which I obviously cannot name which IMHO are exhibiting danger signs despite their current popularity. We each have to take our individual DD and decisions based on our personal risk profile. I think the ability to expand too fast is limited within the pawn side of P2P, the potential borrowers are limited and the loans a lot smaller that the sites that you have mentioned. True, but I expect most of their expansion to come from property, which is why they have recruited FS founder Norman Akram for his expertise in property.
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jonno
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Post by jonno on May 12, 2021 16:01:55 GMT
Hi Ace, Thank you for your question. At this moment we do intend to introduce an ISA at this stage. Subject to the growth of the platform (in particular lenders and loan volumes) we will review this position. Hi guys; is the word "not" missing from your post by any chance?
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Post by connectivelending on May 12, 2021 16:49:59 GMT
Hi Ace, Thank you for your question. At this moment we do intend to introduce an ISA at this stage. Subject to the growth of the platform (in particular lenders and loan volumes) we will review this position. Hi guys; is the word "not" missing from your post by any chance? Hi Jonno,
Thank you for catching that. Now corrected.
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Post by df on May 12, 2021 18:34:46 GMT
I think the ability to expand too fast is limited within the pawn side of P2P, the potential borrowers are limited and the loans a lot smaller that the sites that you have mentioned. True, but I expect most of their expansion to come from property, which is why they have recruited FS founder Norman Akram for his expertise in property. In my understanding Noman wasn't recruited, he is a co-founder of CL. Not sure if he is a property specialist, from what I read his part of partnership is expertise in p2p. I wasn't with FS from the beginning, so I don't know, but always had an impression that FS started as a pawn platform and property loans were introduced later (same as MT and Col).
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