The provided accounts are too condensed for me and so I have had to use a third party (like Experian) to gather more due diligence.
Deal flow is slow and hence most of the loans I have bought on the marketplace at a premium to the actual interest rate.. Hence, it is hard to figure out the actual rate earned.. I would suspect it be around 9.3 percent before defaults. (Headline rate is 10.7 pre discounted return / 8.7 predicted after defaults).
I like the site because all (or nearly all) are proper trading businesses (not just property) earning healthy profits with an increasing net worth year on year.
I would increase my exposure on FK if there were more loans I liked.
Couple of reasonable looking loans up just now. FK just seems to chunter along quietly in the background, and I think they are carefull to try and only offer good loans. Overall, feels safer than other places for investing in SME loans, good account info, and good interface as mentioned already. Personal net return is presently better here than in other similar places.
Post by captainconfident on Dec 4, 2015 20:42:04 GMT
Agree with that. Given that FK has motored at this leisurely pace for years now, then this is what they are happy with, rather than ramming through loan after loan with little or outdated information or both, and we all know who I'm referring to. I also start to notice that FK have fewer troubled loans, certainly in the last year. I like FK. You just have to be patient.
Not entirely sure of my reasons but I've always quite liked FK. The loan flow means it'll never be my main P2P site but it's certainly a useful addition. My biggest annoyance is I can't see how I can tell what the age is of the my loans on the "my loans" page. For example, on FC I can sort by loan number with the lowest numbers being the oldest loans I can't find an equivalent on FK.
Don't know if you know, but FK are running a feedback survey just now. I think you only hear about it (by e-mail) if you are signed up to receiving such info, but you can click on a link when logged in. One of the questions is, did you know you can sign up for such communications...!
Post by kayfundingknight on Jan 5, 2016 13:59:59 GMT
Happy New Year
Apologies if our Survey question appeared nonsensical as it appeared within the Survey.
"Did you know you can select exactly which types of communications you want to receive in your Communications Preference centre?"
We receive comments suggesting that we send out too much to our investor community, this was really geared at those investors wishing to reduce the amount they receive. Investors on our platform should not view the Survey as the only way to provide feedback - I am happy to receive comments at any time. We will consider them all, although, we may not be able to act on or implement all ideas and suggestions submitted. [email protected]
As ever, thank you to all those who invest with FundingKnight.
When sending an email about some event concerning an existing funded loan (eg about a late payment or early repayment or whatever) Please include all the info on the email instead of a 10 word teaser and making me log in to read the rest
And please leave q&a open so if questions arise about such events then all lenders (and potential lenders) can be fully informed. In this instance (C***, AW) next months payment due is 2324, all the others being 1998. Can you explain how this is calculated please (I know it is to do with a late payment penalty)
Interests declared: I have shares in Assetz, Syndicate Room, The Housecrowd. They are as nothing compared to my investments on and reliance on the good health of many other platforms here.