arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 21, 2016 11:57:55 GMT
EH? You in a TARDIS or wot? Where can I get one? It's not even 11:00 yet never mind 11:35 ! oh sorry, 10 is 11 where I live (Switzerland), uk is one hour behind Bloody Europeans, (not even) coming over here, funding our loans...
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 20, 2016 8:29:37 GMT
Based on earlier posts, I clicked the button to make a first withdrawal at about 2pm - said my bank details need to be validated and they would email me when that was done ............. heard no more yet.... As it's the same account I used to FP funds in the first place, what else is there to check? Surely, the KYC/AML stuff was done during the registration process? Which was far more long-winded than any other platform - involving extra documentation and phone conversations. Frustrating. . Disappointing. . I could quite easily get mightily miffed ........... I recommend chasing them up, as they inevitably will be asking you for a copy of a bank statement or something, but are in no rush to do so.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 20, 2016 8:27:38 GMT
To lazy to look, but I think Ed recently said 58% of MT's members had an investment in at least one loan, so if a similar proportion are active on SS we're looking at 6000+.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 19, 2016 20:56:38 GMT
Nah, I'm going to let things run their course, unless I see anything particularly alarming and can get out of the next bad loan before it goes pop. My view is that they'd have to be pretty unlucky for them all to go bad, and the interest rates on the good ones are in many cases above 12%, so it seems a shame to turn those down. Maybe I'll regret it, but I do still have some of my bonus left, so it feels like there's a buffer there too.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 19, 2016 20:39:13 GMT
Don't forget to include in your calculation the opportunity cost of having your money locked up there instead of somewhere paying 8-12% interest over the period
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 19, 2016 7:46:27 GMT
Hard to know what proportion of BM lenders actively follow this forum, but if we all hold off from investing more funds for the time being perhaps that will help the flow of investments catch up? Hopefully even non-forumreaders will realise that investing more while existing funds are <90% deployed is a poor use of capital. Of course, some might log in on a "good day", see that they're close to fully deployed and chuck more in.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 17, 2016 15:48:32 GMT
To be honest I have given up caring about this one. I'm going to let all my loans work their way through, whatever I get back is a bonus. I've a similar view. The chances are the loans to the few decent companies they've got on their books will sell quickly on the SM, leaving the early leavers with the soon-to-default trash, and no upside. The interest rates on the loans that are repaying are decent. Certainly shows how risky unsecured corporate lending is, and puts FC's performance into perspective.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 17, 2016 7:21:15 GMT
Another one bites the dust.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 10, 2016 12:38:36 GMT
I always assume I've missed the payment run with SS, and then it's just a nice surprise if it shows up the same day.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 8, 2016 6:29:57 GMT
Key underwriting question appears to be: "Are you Scottish, based in Scotland or do you employ any Scottish people?" Answer yes to any of those and you get the cash.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 8, 2016 6:27:02 GMT
On the bright side, of the 280 currently active loans only half are property loans which still leaves an equal split between property/non-property in the past six months. Not by value though, I'm sure. About half of current defaulted loans are property which matches the fact that about half of the active loans are property. So property, at the moment, is not showing more of a default risk than non-property. With property, it does tend to be a whole lot more difficult to realise 70% of the "value" in reasonable timescales. I've been surprised and delighted at FS's recovery performance with non-property defaults, and neither of those regarding property...
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 7, 2016 9:00:06 GMT
It is now hovering between dead slow and stop. Seems fine to me.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 7, 2016 8:57:24 GMT
No problems getting in this morning, including just now.
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
Post by arbster on Oct 6, 2016 14:24:57 GMT
I do hope they've sacked their original underwriting team and employed some more competent ones; if not, the bulging pipeline of new loans fills me with horror...
|
|
arbster
Member of DD Central
Posts: 810
Likes: 426
|
MoneyThing (MT) in Administration
Can't log on.
Oct 6, 2016 13:23:06 GMT
Post by arbster on Oct 6, 2016 13:23:06 GMT
I'm still having a problem connecting to MoneyThing via my usual browser (FF/OSX) but can connect via a backup browse (Chrome/OSX). Very odd. Looks like a DNS change to me.
EDIT: Fixed by clearing history.
|
|