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Post by ladywhitenap on Jan 29, 2018 15:27:54 GMT
I'm a keen fan of MT and ABL but going off LL and so the cash is accumulating from LL and I feel adequately exposed on MT and ABL so looking for another good communicating, asset back platform. This is by no means a criticism of MT but with the general care that they pick their borrowers, there are insufficient new ones to give the diversity that I seek.
Where would you suggest that I look next please.
LW
NB I have deliberately posted here so those reading who share similar positive feelings about MT might be in a similar position and just a bit ahead of me
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archie
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Post by archie on Jan 29, 2018 15:56:14 GMT
Unbolted. I also like Archover but that may not fit your criteria. Most of my funds are still here though.
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Post by stevec2x on Jan 29, 2018 19:47:07 GMT
I have money in L,COL, and MT, and also Mintos. Mintos is because I live in Spain and so I hope to balance out fluctuations in exchange rates. Mintos is the least labour intensive of the 4. Not asser-backed but with a guarantee.Which may be irrelevant to you, hey ho!
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johnfleet
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Post by johnfleet on Jan 31, 2018 15:14:12 GMT
COL would seem an obvious alternative - unless you want to avoid yet another bridging loan focussed operation (which seems increasingly difficult to do!). So far FWIW Collateral haven't declared any defaults and they do pay monthly interest just about on the stroke of midnight - which means a nice payment into my account is due in less than twelve hour's time....
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archie
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Post by archie on Jan 31, 2018 15:17:13 GMT
COL would seem an obvious alternative - unless you want to avoid yet another bridging loan focused operation (which seems increasingly difficult to do!). So far FWIW Collateral haven't declared any defaults and they do pay monthly interest just about on the stroke of midnight - which means a nice payment into my account is due in less than twelve hour's time.... No property defaults yet, cars defaulted but were recovered.
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shimself
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Post by shimself on Jan 31, 2018 15:26:30 GMT
Kuflink on the grounds that they put their money where their mouth is (coinvest). It's property, typically 70%LTV but they take 20% first loss so in effect 56%
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boundah
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Post by boundah on Jan 31, 2018 15:31:24 GMT
I've diversified into Inveslar (Spain), which focuses exclusively on building/doing up property for selling on or rental. The model is easy to understand and their site easy to use (I also like the idea of a euro currency hedge).
At the moment there's no secondary market but they say one is due soon.
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sirius
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Post by sirius on Jan 31, 2018 15:51:13 GMT
I've diversified into Inveslar (Spain), which focuses exclusively on building/doing up property for selling on or rental. The model is easy to understand and their site easy to use (I also like the idea of a euro currency hedge). At the moment there's no secondary market but they say one is due soon. What is the 'average' interest rate?
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IFISAcava
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Post by IFISAcava on Jan 31, 2018 17:36:10 GMT
Kuflink on the grounds that they put their money where their mouth is (coinvest). It's property, typically 70%LTV but they take 20% first loss so in effect 56% but no secondary market so less liquidity
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stevio
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Post by stevio on Jan 31, 2018 22:04:40 GMT
Kuflink on the grounds that they put their money where their mouth is (coinvest). It's property, typically 70%LTV but they take 20% first loss so in effect 56% May I ask how got 56% and not 50%? My bad probably, just like to know what not taking into account
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stevio
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Post by stevio on Jan 31, 2018 22:07:09 GMT
Unbolted. I also like Archover but that may not fit your criteria. Most of my funds are still here though. How are you doing with Archover and what sorts of rates?
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shimself
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Post by shimself on Jan 31, 2018 22:28:00 GMT
Kuflink on the grounds that they put their money where their mouth is (coinvest). It's property, typically 70%LTV but they take 20% first loss so in effect 56% May I ask how got 56% and not 50%? My bad probably, just like to know what not taking into account value 100k ltv 70%, loan 70K. Kufflink take 20% of loan ie 14K, leaving us with 56K. If loan goes bad Kuflink take first loss, Our 56K gets repaid first thus 56% LTV
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archie
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Post by archie on Feb 1, 2018 7:30:21 GMT
Unbolted. I also like Archover but that may not fit your criteria. Most of my funds are still here though. How are you doing with Archover and what sorts of rates? According to my dashboard I'm getting 7.88% at the moment. My loans are at rates between 7% and 9.25%. I only joined in August 2017. On the platform there are loans between 5% and 10%. Loans are bought in units of £1000. No secondary market. One of my loans has recently defaulted but it's in the Secured & Insured category so hopefully will have a reasonable outcome. There are different types of loan security, see here. Payments can be taken via direct debit. You don't earn interest between the payment being taken and draw down which is a downside. Overall quite happy at the moment.
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IFISAcava
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Post by IFISAcava on Feb 1, 2018 7:45:42 GMT
How are you doing with Archover and what sorts of rates? According to my dashboard I'm getting 7.88% at the moment. My loans are at rates between 7% and 9.25%. I only joined in August 2017. On the platform there are loans between 5% and 10%. Loans are bought in units of £1000. No secondary market. One of my loans has recently defaulted but it's in the Secured & Insured category so hopefully will have a reasonable outcome. There are different types of loan security, see here. Payments can be taken via direct debit. You don't earn interest between the payment being taken and draw down which is a downside. Overall quite happy at the moment. Archover are promising an ISA this quarter, which will be excellent news. The insured loans really ought to have a good outcome, as they are usually offering 1.5-2% lower rates. My average is stated as 7.32%, as I have about 75% in insured loans. I take a conservative approach on this platform given the lack of secondary market & liquidity, but it adds nice diversification to my portfolio as it offers something different to all the property loans. I'll add more once the ISA is here and let the non-ISA loans gradually mature (my aim is to have all my P2P within an ISA wrapper eventually - currently at 71%).
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m2btj
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Post by m2btj on Feb 1, 2018 8:42:00 GMT
There can be up to 21 days cash drag with Archover between investor funds being drawn & loan draw down. Other than that it seems to be a reasonable platform.
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