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Post by Financial Thing on Nov 18, 2015 12:20:15 GMT
I'm reading posts about people exiting FC so I'm wondering where people are moving towards?
I know many will say SS, but I just can't see this being a safe move since the property market is so frothy and being heavily invested into a single sector could be disastrous once it's tested (see 2008 / 2009).
Rebs new loan flow seems slow. AC isn't bad but if you are new, trying to place funds is slow. Fk doesn't have much, TC is too pricey for me, LC is too new.
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Post by goldservice on Nov 18, 2015 12:26:15 GMT
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SteveT
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Post by SteveT on Nov 18, 2015 12:27:39 GMT
I'm reading posts about people exiting FC so I'm wondering where people are moving towards? I know many will say SS, but I just can't see this being a safe move since the property market is so frothy and being heavily invested into a single sector could be disastrous once it's tested (see 2008 / 2009). Rebs new loan flow seems slow. AC isn't bad but if you are new, trying to place funds is slow. Fk doesn't have much, TC is too pricey for me, LC is too new. Given your SS reservations, I guess you're not tempted by 12% + 1.5% cashback on MoneyThing's 12 month bridging loan (or 12% on a couple of super-car loans, for that matter)
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Post by Financial Thing on Nov 18, 2015 12:57:05 GMT
I'm reading posts about people exiting FC so I'm wondering where people are moving towards? I know many will say SS, but I just can't see this being a safe move since the property market is so frothy and being heavily invested into a single sector could be disastrous once it's tested (see 2008 / 2009). Rebs new loan flow seems slow. AC isn't bad but if you are new, trying to place funds is slow. Fk doesn't have much, TC is too pricey for me, LC is too new. Given your SS reservations, I guess you're not tempted by 12% + 1.5% cashback on MoneyThing's 12 month bridging loan (or 12% on a couple of super-car loans, for that matter) Very attractive rates Steve but I already have more money with MT than I'm comfortable with and I have some concerns which prevent me from placing too much money with them. I do like MT though.
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pom
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Post by pom on Nov 18, 2015 13:48:05 GMT
I think everyone's answers will vary greatly depending on what proportion FC made up of their p2p pot and how many other platforms they're using. For myself, I only had a small proportion and had lots of other platforms to spread it around, but then I was also still actively trying to increase my holdings in most of them anyway
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Post by nightmare on Nov 18, 2015 15:53:06 GMT
Once upon a time there were three little pigs. One pig built a house of straw while the second pig built his house with sticks. They built their houses very quickly and then sang and danced all day because they were lazy. The third little pig worked hard all day and built his house with bricks.
A big bad wolf saw the two little pigs while they danced and played and thought, “What juicy tender meals they will make!” He chased the two pigs and they ran and hid in their houses. The big bad wolf went to the first house and huffed and puffed and blew the house down in minutes. The frightened little pig ran to the second pig’s house that was made of sticks. The big bad wolf now came to this house and huffed and puffed and blew the house down in hardly any time. Now, the two little pigs were terrified and ran to the third pig’s house that was made of bricks. The big bad wolf tried to huff and puff and blow the house down, but he could not. He kept trying for hours but the house was very strong and the little pigs were safe inside.
Personally I'm (mostly) sticking with the third pig but each to their own.
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ablender
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Post by ablender on Nov 18, 2015 18:02:59 GMT
Once upon a time there were three little pigs. One pig built a house of straw while the second pig built his house with sticks. They built their houses very quickly and then sang and danced all day because they were lazy. The third little pig worked hard all day and built his house with bricks. A big bad wolf saw the two little pigs while they danced and played and thought, “What juicy tender meals they will make!” He chased the two pigs and they ran and hid in their houses. The big bad wolf went to the first house and huffed and puffed and blew the house down in minutes. The frightened little pig ran to the second pig’s house that was made of sticks. The big bad wolf now came to this house and huffed and puffed and blew the house down in hardly any time. Now, the two little pigs were terrified and ran to the third pig’s house that was made of bricks. The big bad wolf tried to huff and puff and blow the house down, but he could not. He kept trying for hours but the house was very strong and the little pigs were safe inside. Personally I'm (mostly) sticking with the third pig but each to their own. Who is your third pig?
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blender
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Post by blender on Nov 18, 2015 18:26:27 GMT
Look for a strong circular house containing three founding pigs.
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markr
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Post by markr on Nov 18, 2015 19:18:27 GMT
Am I the only one here who isn't leaving FC, and is adding funds? Given the result of the "flavour of the month" poll, I must be the only one who jumped ship *from* SS to FC.
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SteveT
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Post by SteveT on Nov 18, 2015 19:20:10 GMT
Am I the only one here who isn't leaving FC, and is adding funds? Given the result of the "flavour of the month" poll, I must be the only one who jumped ship *from* SS to FC. I suspect so. What is the motivation driving you in that direction?
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Post by GSV3MIaC on Nov 18, 2015 19:36:41 GMT
Lack of any chance of putting money into SS any time soon?
Or maybe a desire to diversify beyond bricks and mortar (or muddy holes in the ground) and support british industry new financial entrepreneurs?
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acky
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Post by acky on Nov 18, 2015 19:53:28 GMT
SS market has been active in the last couple of hours. But you need the speed of a cheetah to catch anything. I have an Inbox full of mails from SS saying "Thank you for your loan part funding of £0.00.
You are now earning 12% per annum on the above funds." Good to know, thanks SS.
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SteveT
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Post by SteveT on Nov 18, 2015 20:39:09 GMT
SS market has been active in the last couple of hours. But you need the speed of a cheetah to catch anything. I have an Inbox full of mails from SS saying "Thank you for your loan part funding of £0.00. You are now earning 12% per annum on the above funds." Good to know, thanks SS. The triick with SS is to invest via the new pipeline loans by setting a pre-funding request figure. Requires a little patience to diversify over time but dramatically simpler than scrapping over parts on the SM
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markr
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Post by markr on Nov 18, 2015 20:50:01 GMT
I suspect so. What is the motivation driving you in that direction? I got out of SS after the server meltdown fiasco, although I understand they've gone some way to fixing that with AC-style pre-funding. At the moment I'm happy cashback-stripping property loans and bidding on the occasional SME loan.
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nick
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Post by nick on Nov 18, 2015 21:05:34 GMT
Funding Secure is worth a try - 6 mth asset back loans for 12-13%pa. Its difficult to deploy a large amount of cash, but it should be good for £5k and helps diversification. A whole range of assets are lent against in a pawn broker type set-up. I've had one loan default and 100% recovery via auction of the asset held as security which has given a bit of comfort that the process works. No SM, so liquidity could be an issue for some, but all loans have a 6th term and are either settled or rolled over as a new loan.
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