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Post by martin44 on Oct 12, 2017 21:19:28 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?.
My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy.
The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken.
Edit *()* apologies if not too clear.
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locutus
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Post by locutus on Oct 12, 2017 21:40:29 GMT
I think the risk profile for the various loans has remained exactly the same. You have just become more aware of the very real possibility of capital loss now that we have seen some loans get into difficulty. For what it is worth, I also have funds sat idle but I think that is due to the fact that there seems to be a dearth of new launches. Hopefully, business will pick up before Christmas.
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hazellend
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Post by hazellend on Oct 12, 2017 21:45:50 GMT
I have the opposite problem. To be honest, I love ABLrate, COL, MT and even Lendy and am well aware of various issues on all of these sites.
I very rarely have more than 2% of my entire networth in cash. I think, even when I get to 1 million in invested assets, I'll be the same.
In fact, I have a tax bill to be settled by 31st Jan and keep investing the money I set aside for it, gotta stop doing that and just pay it off early so I can get on with things.
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Post by martin44 on Oct 12, 2017 21:46:04 GMT
I think the risk profile for the various loans has remained exactly the same. You have just become more aware of the very real possibility of capital loss now that we have seen some loans get into difficulty. For what it is worth, I also have funds sat idle but I think that is due to the fact that there seems to be a dearth of new launches. Hopefully, business will pick up before Christmas. Fair point but not my initial worry, it was more around the fact that the platforms are now proactively avoiding forum discussion, and i was more wondering if this non-discussion is putting investors off.
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hazellend
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Post by hazellend on Oct 12, 2017 21:49:23 GMT
I think the risk profile for the various loans has remained exactly the same. You have just become more aware of the very real possibility of capital loss now that we have seen some loans get into difficulty. For what it is worth, I also have funds sat idle but I think that is due to the fact that there seems to be a dearth of new launches. Hopefully, business will pick up before Christmas. Fair point but not my initial worry, it was more around the fact that the platforms are now proactively avoiding forum discussion, and i was more wondering if this non-discussion is putting investors off. Not really, I think it is a sign of increasing platform size and popularity. Apart from Lendy, the others are okay at engaging but I expect this will probably change if they make it big.
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Post by martin44 on Oct 12, 2017 21:54:30 GMT
locutus Fair point but not my initial worry, it was more around the fact that the platforms are now proactively avoiding forum discussion, and i was more wondering if this non-discussion is putting investors off. Not really, I think it is a sign of increasing platform size and popularity. Apart from Lendy, the others are okay at engaging but I expect this will probably change if they make it big. Do you include Fundingsecure hazellend .. personally i have found their comms appalling.
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hazellend
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Post by hazellend on Oct 12, 2017 22:52:18 GMT
Not really, I think it is a sign of increasing platform size and popularity. Apart from Lendy, the others are okay at engaging but I expect this will probably change if they make it big. Do you include Fundingsecure hazellend .. personally i have found their comms appalling. No I don't use FS because I don't like the pawn model they use.
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Post by Deleted on Oct 13, 2017 8:45:11 GMT
Have you thought of PIBS or Preference shares?
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bugs4me
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Post by bugs4me on Oct 13, 2017 9:48:03 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?. My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy. The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken. Edit *()* apologies if not too clear. Not sure about the 'itching' bit but agree with the distrust of many platform VR's and the omission of material information. Coupled with the woeful lack of apparent loan monitoring where applicable has resulted, in my case at least, to carrying out more in-depth loan proposal DD. Often the result has been a proposal that falls way outside of my comfort level - not even punt quality. I expect defaults, that's the nature of P2P but this forum is littered with examples of platform negligence, ineptitude, etc, etc. I agree with locutus regarding risk but many lenders/investors are no longer prepared to simply take things at face value as presented by the platform with some skimpy desktop DD. It's become more involved than that. I prefer idle funds to lost funds.
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Post by martin44 on Oct 13, 2017 10:29:00 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?. My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy. The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken. Edit *()* apologies if not too clear. Not sure about the 'itching' bit but agree with the distrust of many platform VR's and the omission of material information. Coupled with the woeful lack of apparent loan monitoring where applicable has resulted, in my case at least, to carrying out more in-depth loan proposal DD. Often the result has been a proposal that falls way outside of my comfort level - not even punt quality. I expect defaults, that's the nature of P2P but this forum is littered with examples of platform negligence, ineptitude, etc, etc. I agree with locutus regarding risk but many lenders/investors are no longer prepared to simply take things at face value as presented by the platform with some skimpy desktop DD. It's become more involved than that.
I prefer idle funds to lost funds. My bold. Quite right, it has, and the recent announcements of underground bunkers full of Squirreling DDers backs that up, Unfortunately, even if all information on loans was put here un-redacted it would still only be read by a tiny proportion of investors, so the Tosh will keep flowing and the unsuspecting will keep funding. So IMHO, not really any incentive for the platforms to clean up their act other than reputation and loyalty to investors, and barring the odd one or two, most do not seem to be bothered about either.
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bugs4me
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Post by bugs4me on Oct 13, 2017 10:39:57 GMT
....so the Tosh will keep flowing and the unsuspecting will keep funding. So IMHO, not really any incentive for the platforms to clean up their act other than reputation and loyalty to investors, and barring the odd one or two, most do not seem to be bothered about either. 100% correct although I haven't seen any platforms attempting to clean up their reputation etc. Whatever is reported, forum members make up a tiny proportion of the overall P2P market lenders.
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macq
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Post by macq on Oct 13, 2017 11:04:58 GMT
Not sure about the 'itching' bit but agree with the distrust of many platform VR's and the omission of material information. Coupled with the woeful lack of apparent loan monitoring where applicable has resulted, in my case at least, to carrying out more in-depth loan proposal DD. Often the result has been a proposal that falls way outside of my comfort level - not even punt quality. I expect defaults, that's the nature of P2P but this forum is littered with examples of platform negligence, ineptitude, etc, etc. I agree with locutus regarding risk but many lenders/investors are no longer prepared to simply take things at face value as presented by the platform with some skimpy desktop DD. It's become more involved than that.
I prefer idle funds to lost funds. My bold. Quite right, it has, and the recent announcements of underground bunkers full of Squirreling DDers backs that up, Unfortunately, even if all information on loans was put here un-redacted it would still only be read by a tiny proportion of investors, so the Tosh will keep flowing and the unsuspecting will keep funding. So IMHO, not really any incentive for the platforms to clean up their act other than reputation and loyalty to investors, and barring the odd one or two, most do not seem to be bothered about either. Think you are right about the majority of investors who will fund without DD and just chase the rate but it could be the case that a lot of these loans where out there over the years but the average punter did not get involved.There could be some tosh getting through now as more platforms compete but would guess its also harder for platforms now as more sharp borrowers are moving in(who were probably around in the first place but got funding in other ways ) and it's starting to show which are good at DD and more important recovery which is why this forum is vital even after the DD stage What may have been a surprise to the platforms was how some people became interested enough in investing that they took up their own DD & research and did not stay bright eyed on every opportunity (After all we live in the age of trackers & robo funds where the less time spent the better to some people but again may not work all the time)
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registerme
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Post by registerme on Oct 13, 2017 11:33:08 GMT
I still have a lot of capital to deploy sat in a bank account earning nothing. I would love to put it to use, it just depends on my confidence in the specific loan offerings and the platforms they are presented on.
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jo
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Post by jo on Oct 13, 2017 15:41:08 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?. My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy. The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken. Edit *()* apologies if not too clear. In short, yes. I've started culling accounts that bug me. If, after requests, you: Won't show me my existing exposure on Loans Available? Won't let me export (easily) my Loan Book? Won't let me configure my own dates on income statements? You're gone.
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Post by df on Oct 13, 2017 20:14:29 GMT
Are there others who find themselves with an excess of funds they are itching to invest, but find they have a recent distrust of more than a few of the platforms?. My preferred have been Lendy. Fundingsecure. Collateral and Moneything. I am ok with Moneything, have completely fallen out with Fundingsecure and Collateral and my patience is wearing thin with Lendy. The question being, Have you got idle funds because of the perceived (*platforms*) dis-interest position now being taken. Edit *()* apologies if not too clear. Distrust - yes. Idle funds - no. I don't think there is a perfect platform. Each has its positives and negatives. Out of four mentioned I have much more trust in MT and Col than in the other two, although my funds proportion FS is significantly larger than in the other three.
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