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Post by dodgeydave on Dec 1, 2016 11:28:56 GMT
I am also a lender on the first loan. Always paid on time. And really do wish Frank luck with filling this loan. Frank is there answering question , truthfully and no apparent BS.
<potentially libellous statement removed by mod>
And its really out of principle due to the bad handling and minimum recovery that i will not invest another penny on this platform. And reading the discussions on the loan request page , i suspect others feel the same.
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Post by rebsrep on Dec 2, 2016 20:58:04 GMT
kylierebsoc , Hi Kylie as an estimate how quickly can the paperword/formalities be completed for this loan, I ask because there's quite a lot of intricacy to the security package? Thanks. For a question like this you should ask it on the loan thread itself on our platform or email support@rebuildingsociety.com
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kaya
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Post by kaya on Dec 12, 2016 11:45:53 GMT
I would have thought the answer to that would be obvious - a general collapse of confidance, meaning that there is now limited funding available from 'ordinary' investors. I have made a bid here, but will not be waiting around any longer. Any further extensions would appear to be futile, as even the BH bidders are wanting no more of it.
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kaya
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Post by kaya on Dec 12, 2016 14:14:24 GMT
Time to admit that ''things do not seem to be working out." This application has had more than enough time. Unless the idea is to hope that Santa calls by on the 25th with a cool 98k.
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kevinkelly
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Post by kevinkelly on Dec 12, 2016 14:22:45 GMT
"...I am keeping other finance institutions in the loop about the progress of this application in order for them to help if things do not seem to be working out." As things stand this good request remains circa £98 K shy of it's £300 K target amount. Anyone have any thoughts? If these other FIs help out, would that not have the effect of watering down any usable security?
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Post by flobberchops on Dec 19, 2016 0:38:44 GMT
I notice my bid on this is "At risk of being outbid" and flagged in yellow, even though the funding is nowhere near complete. I don't understand. Is this a quirk of the site, or something relating to this loan?
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kaya
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Post by kaya on Dec 19, 2016 10:00:51 GMT
It simply means that all top-bid rates are - rather theoretically in this case - at risk of being out-bid once a loan has filled. If a BH bid now filled the loan, all top-rate bids would indeed be at risk of being out-bid.
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Post by es2013david on Dec 19, 2016 12:01:09 GMT
@ flobberchops. It's an irrational piece of not very useful automated information on the platform - it will take £68k more bids to fill and will then only start cancelling the most recent 20% rate bids after that - at the current speed of fill, not yet a worry and your bid at the start of November is surely safe? Nevertheless it is hoped that a HNW investor turns up soon to take this application to the brink of filling. The biggest hitter so far still has until 23/12/16 to withdraw £100k following the latest extension. Kind regards.
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mnm
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Post by mnm on Dec 26, 2016 4:16:31 GMT
Nobody appears to have mentioned a possible moral issue. The number of people with Type 2 Diabetes is going through the roof. Flogging more sugary products is a bit like opening a tobacconist. There is also the fact that spending on sweets is discretionary. With the probability of 'stagflation' in the near future people will have less disposable income to spend on luxuries. A choice between bread and bonbons will inevitably favour the former. The idea that this loan is 'secured' is risible. The property equity is neglible given that itis effectively pledged elsewhere. Furthermore, it is standard practice to write off around 30% of the LTV in the event of a forced sale, particularly where there is a second charge. As for PGI, does anybody know of a single case where such a policy has had a successful claim? Speaking as a former insurance broker, it is my view that the policy terms are so onerous that it will be very easy for claims to be dismissed. Do REBS receive commission from the PGI insurer? If they do, the amount should be stated on the loan application onsite page. How many PGs have REBS been able to rely upon to ensure that defaulted loans are recovered? baggiesman . I dont understand the business side enough to comment. The possible moral issue of selling more sugar could be a fair point. The number of people with the self inflicted Type 2 Diabetes disease is rising rapidly and costing the NHS a lot of money. The comparison to opening a tabacconist is not correct. We dont need cancer causing unnatural sustances as part of the human diet. Sugar is required as part of a balanced diet. The combination of too much sugar, not enough excersise, poor life style choices is the cause of Type 2 Diabetes. You could argue by not investing in C**** H*** we are doing our bit to help Type 2 Diabetes people but this would only be self delusion on the part of the investor. If a Type 2 Diabetes person, and those at risk of Type 2 Diabetes, continue to ignore advice from qualified experts and signs from there own body and continue to pursue there own selfish life style of living then they only have themselves to blame for the results to there own body. When Type 2 Diabetes gets to the stage of that person having a limb sawn off due to that person chasing there own lazy and immediate self gratification a small moral issue stance of not investing in a sweet shop from others is meaningless. I would like to see a high, high, high, high sugar tax, ring fence it for NHS to pay for these Type 2 Diabetes problem people. If banning the selling of sweets and chocolate things were the answer to this terrible disease I could agree with your morall issue arguement. This is not directly related to the business but follows on from the diabetes thread. It contains some surprising information - www.bbc.co.uk/news/magazine-35280028
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kaya
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Post by kaya on Dec 28, 2016 15:42:16 GMT
Time to admit that ''things do not seem to be working out." Any further extensions would appear to be futile,
I shall eat my words. A good day for Rebs!
Some large bids have now filled this loan, and with over 8K of large bids today now knocking out some top bids. All other top bids except the very top few should be safe however. Just a few hours left if you want a slice of 19% pie.
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Post by buttchopf23 on Dec 28, 2016 20:28:21 GMT
Well it took only 2 months...
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Post by flobberchops on Dec 29, 2016 0:05:25 GMT
Wow, I was certain this one was scuppered. Great stuff!
I just hope this hasn't diverted too much investor interest away from the other (and currently only) marketplace loan.
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Post by danraj on Jan 1, 2017 11:14:36 GMT
Happy New Year. May 2017 be a prosperous year for us all.
Thanks to those of you who supported funding this loan.
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kaya
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Post by kaya on Jan 1, 2017 17:56:50 GMT
Happy New Year to all at Rebs. Lets all hope that it is a happier year than the last one. Some sucessfull recoveries would certainly help to restore investor confidence, and perhaps see new loans filling as they used to. So special wishes to the recoveries team, as they weave their way through the many obstacles that seem to forever appear before them.
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Post by buttchopf23 on Jan 31, 2017 7:46:12 GMT
Repayment is late..
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