huxs
Member of DD Central
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Post by huxs on Jan 3, 2019 14:39:58 GMT
justusmike .co Has this platform gone into some kind of suspended animation? justuslee , @justusmike , justussimon , Any news on what this year will bring. No new loans since Oct ? Are we likely to see anything in Jan?
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benaj
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Post by benaj on Jan 28, 2019 16:01:43 GMT
3 new loans in January so far, A3/B1.
Browsing "funded loans", it seems lots of unsecured loans repaid way early before the end of term.
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one21
Member of DD Central
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Post by one21 on Feb 3, 2019 12:31:21 GMT
What are people's experiences of the platform so far? Would they recommend it? Also, if I sign up what do I put in the "Amount to invest" box if I don't know how much I plan to put into the platform? Or is my total investment pot that I could move if I really loved it that much?
Thanks for your interest in the platform.
I'm more than happy to chat through the signup process with you. Just call the office and ask to be put through to me.
In the first instance though if you do apply, put the figure you would potentially be looking to transfer day 1 in the 'amount to invest' field. Once the account is setup you can then advise of any changes/updates to your investment as you proceed.
After you have registered as a lender and have logged in to the portal you will get a better feel for how things work and we are always here to support you.
Kind regards
Mike
Hi Mike, I joined JustUs several years ago when it was Emoneyunion. I was attracted by the discretionary contingency fund, which would make up the monthly repayments (capital and interest) in the event of a Borrower shortfall (similar to another well known platform). As such I invested substantial funds into one particular loan accepting this reduced risk. However, since JustUs became a member of the FCA, capital repayments previously paid by the old contingency fund are now being clawed back by withholding the interest due from the ‘Rainy Day’ fund, which I understand is to provide interest only payments going forward. I find it ironic that Lenders can lose out financially once a platform becomes a member of the FCA, whereby the platform prefers to renege on their original policy! – I for one would have committed less and diversified more, with my original investment. Edit: Apologies for typo Mike (JustUs), have now included the word 'discretionary' before 'contingency fund' in the second sentence!
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nyneil
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Post by nyneil on Mar 11, 2020 16:12:19 GMT
What are the current opinions on this platform? Is it worth investing there?
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benaj
Member of DD Central
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Post by benaj on Mar 11, 2020 16:51:36 GMT
What are the current opinions on this platform? Is it worth investing there? Loan pipeline is low compared to other smaller platforms, it's below Crowd Property & Loanpad. Loan originated in the last 14 months is over £4.6 Mil from 32 loans, 41% of the capital has been repaid already, In terms of liquidity, it's pretty good for all "repaying" loans, getting money back within 2 working days, unlike the 1.25% club. Latest loan in funding is a "bridging" loan for property development @ 6.5% . Back in Feb, there was a 10% F4 grade bridging loan for refinance. The good: No property loans in "recovery status" and no defaults in the loan book. The not so good: No loans have been defaulted, trouble loans are being "recovered". No defaults = No tax relief for unrecoverable losses. Recovery can take a very long time.
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nyneil
Member of DD Central
Posts: 348
Likes: 435
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Post by nyneil on Mar 12, 2020 18:27:12 GMT
What are the current opinions on this platform? Is it worth investing there? Loan pipeline is low compared to other smaller platforms, it's below Crowd Property & Loanpad. Loan originated in the last 14 months is over £4.6 Mil from 32 loans, 41% of the capital has been repaid already, In terms of liquidity, it's pretty good for all "repaying" loans, getting money back within 2 working days, unlike the 1.25% club. Latest loan in funding is a "bridging" loan for property development @ 6.5% . Back in Feb, there was a 10% F4 grade bridging loan for refinance. The good: No property loans in "recovery status" and no defaults in the loan book. The not so good: No loans have been defaulted, trouble loans are being "recovered". No defaults = No tax relief for unrecoverable losses. Recovery can take a very long time. Thanks benaj , I might dip my little toe in and see how it works.
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