ashtondav
Member of DD Central
Posts: 1,805
Likes: 1,087
|
Post by ashtondav on Oct 26, 2019 13:15:11 GMT
I’m surprised Zopa and fc don’t really figure. I believe they are the largest operators so it imply forumites arevnot representative of the broader lender p2p pool.
|
|
|
Post by Ace on Oct 26, 2019 20:52:14 GMT
Surprised to see AC with so many votes. Would any (if any) of those voters whose funds are mainly in the QAA care to disclose why they prefer AC to OC? ... Loanpad diversification is currently 13.6% in each of 3 largest loans, ...
I completely agree with your points, but I consider the diversification of these loans to be 13.16% (obviously still too high) as I feel that the unallocated cash should be taken into consideration. After all, we're earning interest on the unallocated cash and it effectively acts as increased security.
|
|
zlb
Member of DD Central
Posts: 1,412
Likes: 331
|
Post by zlb on Oct 26, 2019 21:50:30 GMT
Surprised to see AC with so many votes. Would any (if any) of those voters whose funds are mainly in the QAA care to disclose why they prefer AC to OC? AC is much more established, has been running for longer, has a much bigger loan book and therefore more of a track record. Trust and familiarity means a lot in P2P, even more so with so many platforms having gone into administration recently. I understand AC are running a profit (outside periods of investment) and many investors are also shareholders. Rates seem to be much higher on AC as well....plus the access accounts (QAA etc) are very popular due to their ease of use and features. I didn't choose OC a long time ago because I thought that one gets stuck in loans for real and then can't withdraw that money. The QA accounts on AC at least offer a semblance of access to whole capital in normal market conditions. Unless I misunderstood, but this makes the OC offer different enough to the AC QA offer.
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Oct 27, 2019 0:09:09 GMT
AC is much more established, has been running for longer, has a much bigger loan book and therefore more of a track record. Trust and familiarity means a lot in P2P, even more so with so many platforms having gone into administration recently. I understand AC are running a profit (outside periods of investment) and many investors are also shareholders. Rates seem to be much higher on AC as well....plus the access accounts (QAA etc) are very popular due to their ease of use and features. I didn't choose OC a long time ago because I thought that one gets stuck in loans for real and then can't withdraw that money. The QA accounts on AC at least offer a semblance of access to whole capital in normal market conditions. Unless I misunderstood, but this makes the OC offer different enough to the AC QA offer. As much as i am happy with OC i would say you will most definitely have money tied up at times and you cannot treat it as instant access like AC or RS.But this could be true of other platforms and i accept this as i see it as a long term account and expect them to deal with late,over term or non paying plus over time they have been on the hook for 5% of approx £500m which should be an incentive to sort out problems(i hope).I also assume having run property for over a decade before launching OC that unlike some other platforms they at least have a recovery team with some experience Also seen people mention diversification in a couple of posts and would say it takes time but after Two and a half years my wife has over 225 loans and i have just under 190 But this is only how i have found them and might not mean anything in the long run
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Oct 27, 2019 0:22:43 GMT
the interesting thing with this thread is that its steered away from mostly talking about rates and welcome bonuses etc and more about why people perceive a platform to be safe.Which perhaps should have been the selling point of p2p at the start but i cant help think got lost in the rush to earn 12% (i'm guilty as charged)
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Oct 27, 2019 9:00:33 GMT
AC is much more established, has been running for longer, has a much bigger loan book and therefore more of a track record. Trust and familiarity means a lot in P2P, even more so with so many platforms having gone into administration recently. I understand AC are running a profit (outside periods of investment) and many investors are also shareholders. Rates seem to be much higher on AC as well....plus the access accounts (QAA etc) are very popular due to their ease of use and features. I didn't choose OC a long time ago because I thought that one gets stuck in loans for real and then can't withdraw that money. The QA accounts on AC at least offer a semblance of access to whole capital in normal market conditions. Unless I misunderstood, but this makes the OC offer different enough to the AC QA offer. You are correct in that you cannot withdraw funds in non-performing loans on OC whereas you can on AC in normal market conditions. This means that on AC it is all or nothing. On OC there are always a few loans which you cannot withdraw immediately but these loans are mostly quickly put back on track (and replaced by others) in my recent experience. Because of the nature of the borrower, residential v commercial, you are much more likely to eventually get your money back from a defaulting loan on OC IMHO. There is a much higher proportion of non-performing loans in the QAA (14.41%) than in OC (Edit: based on my own portfolio) but OC are more up front about them. I have money in both but 60:40 in favour of OC.
|
|
macq
Member of DD Central
Posts: 1,924
Likes: 1,192
|
Post by macq on Oct 27, 2019 9:46:28 GMT
I’m surprised Zopa and fc don’t really figure. I believe they are the largest operators so it imply forumites arevnot representative of the broader lender p2p pool. i think people on this forum have been more active and tended to favour the higher risk/reward self select platforms unlike say the MSE forum where it only seems to be RS & FC really mentioned,whether this continues to be the case after the events of the last year may be interesting
|
|
zlb
Member of DD Central
Posts: 1,412
Likes: 331
|
Post by zlb on Oct 27, 2019 10:20:40 GMT
I didn't choose OC a long time ago because I thought that one gets stuck in loans for real and then can't withdraw that money. The QA accounts on AC at least offer a semblance of access to whole capital in normal market conditions. Unless I misunderstood, but this makes the OC offer different enough to the AC QA offer. You are correct in that you cannot withdraw funds in non-performing loans on OC whereas you can on AC in normal market conditions. This means that on AC it is all or nothing. On OC there are always a few loans which you cannot withdraw immediately but these loans are mostly quickly put back on track (and replaced by others) in my recent experience. Because of the nature of the borrower, residential v commercial, you are much more likely to eventually get your money back from a defaulting loan on OC IMHO. There is a much higher proportion of non-performing loans in the QAA than in OC but OC are more up front about them. I have money in both but 60:40 in favour of OC. ok, so this is reminding me, isn't withdrawing funds from OC dependent upon there being other P2P funds to take over your loan parts? I didn't think I could withdraw money from OC as and when I wanted, but more dependent upon market conditions, rather like a range of other platforms... ?
|
|
benaj
Member of DD Central
Posts: 4,862
Likes: 1,591
|
Post by benaj on Oct 27, 2019 11:18:03 GMT
I have never been on bondmason. Anyone know which platform BM core has its largest active stake in even it is in its wind down mode?
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Oct 27, 2019 12:41:10 GMT
ok, so this is reminding me, isn't withdrawing funds from OC dependent upon there being other P2P funds to take over your loan parts? I didn't think I could withdraw money from OC as and when I wanted, but more dependent upon market conditions, rather like a range of other platforms... ? Neither platform could pay out on demand in the event of a run on them. Lenders would have to wait for loans to repay if fresh funds were not forthcoming.The difference is in the type of borrower, and the type of security, and the consequential probability of a full eventual recovery and the length of time to wait. This is no different in principle to funds in a Bank or Building Society, but these are less vulnerable (but not immune) to a run due to mandatory reserve levels and some funds are protected by the FSCS.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848
Likes: 11,077
|
Post by ilmoro on Oct 27, 2019 12:57:24 GMT
ok, so this is reminding me, isn't withdrawing funds from OC dependent upon there being other P2P funds to take over your loan parts? I didn't think I could withdraw money from OC as and when I wanted, but more dependent upon market conditions, rather like a range of other platforms... ? Neither platform could pay out on demand in the event of a run on them. Lenders would have to wait for loans to repay if fresh funds were not forthcoming.The difference is in the type of borrower, and the type of security, and the consequential probability of a full eventual recovery and the length of time to wait. This is no different in principle to funds in a Bank or Building Society, but these are less vulnerable (but not immune) to a run due to mandatory reserve levels and some funds are protected by the FSCS. One point that is being missed is the extra player in the market on OC. Octopus itself will buy performing loan parts as the funder is distinct from the platform an option not available to AC. Therefore in difficult market conditions exit is still likely to be possible on OC where it isn't on AC as OC potentially have the resources & mechanisms to support the market at times of weak investor demand.
|
|
|
Post by stuartassetzcapital on Oct 27, 2019 14:14:17 GMT
Neither platform could pay out on demand in the event of a run on them. Lenders would have to wait for loans to repay if fresh funds were not forthcoming.The difference is in the type of borrower, and the type of security, and the consequential probability of a full eventual recovery and the length of time to wait. This is no different in principle to funds in a Bank or Building Society, but these are less vulnerable (but not immune) to a run due to mandatory reserve levels and some funds are protected by the FSCS. One point that is being missed is the extra player in the market on OC. Octopus itself will buy performing loan parts as the funder is distinct from the platform an option not available to AC. Therefore in difficult market conditions exit is still likely to be possible on OC where it isn't on AC as OC potentially have the resources & mechanisms to support the market at times of weak investor demand. Thank you all for the vote of confidence in us, much appreciated and we all do our best for you - 107 people and counting now in the team. Just to clarify some of the above points in this and other posts, Assetz and its predecessor businesses have been trading since 1999, Assetz Capital set up in the wider group in 2013 as a new division and we have always been property focused as a group so the experience is deep and long. You are right to point out only a couple or so of businesses have this property track record. Also, our marketplace is highly active and like the other party above also has non-retail participants that add to the liquidity within that single marketplace of fractional loan parts - that includes banks (using their balance sheet cash) and investment funds (including our institutional Assetz capital fund in Luxembourg and other third party funds. There are some other significant and positive announcements expected in the next 90 days that are also expected to further increase our liquidity and aftermarket trading partnerships. We have traded over £14 billion of loan parts on our aftermarket and that gives an idea of the active trading that has taken place to support liquidity, mainly for diversification reasons, but our Access Accounts have also facilitated well over £1 billion of withdrawals to the second that was requested to date (as pointed out on here this can only be expected in normal market conditions otherwise access will merely match loan repayment dates or amortisations made by borrowers in the worst case). We shortly expect to exceed £1 billion lent, £500m of loan repayments/ recoveries and £100m of gross loan interest earned on behalf of investors - all since 2013. I hope that helps and thanks again everyone.
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Oct 28, 2019 9:49:02 GMT
As is so often the case on this forum this poll completely ignores European platforms. Until they stopped investment by UK residents Mintos was by far my largest account and has earned me far more than I look like losing with failed British platforms. My largest now is the same as most other voters but I still get much higher returns from several other European Platforms where defaulting loans are usually bought back with interest.
|
|
Nomad
Member of DD Central
Posts: 727
Likes: 494
|
Post by Nomad on Oct 28, 2019 14:21:40 GMT
As is so often the case on this forum this poll completely ignores European platforms. Until they stopped investment by UK residents Mintos was by far my largest account and has earned me far more than I look like losing with failed British platforms. My largest now is the same as most other voters but I still get much higher returns from several other European Platforms where defaulting loans are usually bought back with interest. In which European platforms do you have the greatest confidence?
|
|
benaj
Member of DD Central
Posts: 4,862
Likes: 1,591
|
Post by benaj on Oct 28, 2019 14:24:03 GMT
As is so often the case on this forum this poll completely ignores European platforms. Until they stopped investment by UK residents Mintos was by far my largest account and has earned me far more than I look like losing with failed British platforms. My largest now is the same as most other voters but I still get much higher returns from several other European Platforms where defaulting loans are usually bought back with interest. I looked the poll posted by robocash rep, only 7 votes. I agree Mintos is still my favourite EUR platform. I wish there are more platforms like Mintos but I haven't managed to find one yet.
|
|