jimbob
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FundingSecure (FS) in Administration
New Loan Coming
Oct 25, 2015 19:20:27 GMT
Post by jimbob on Oct 25, 2015 19:20:27 GMT
I think that for smaller loans the max for the first 24 hours should be even smaller. I have been on this platform for a few days now and has not been able to buy a single part even though there were a number of new loans launched. Not everyone is attached to the computer. People who want to bid larger parts will still have their opportunity on bigger loans. Hmm Once you go below £25 it's not really worth it tho. I think the minima are fair here. Only have myself to blame cos I just plain forgot about the quite attractive in my view medal loan.
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jimbob
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Post by jimbob on Oct 23, 2015 13:34:54 GMT
Still no better today - exactly the same response in spite of the money leaving my account on 6th October by "faster payment". A lame carrier pigeon walking to Edinburgh carrying my deposit in 1p pieces would have got there by now. Have you contacted them about this ? My experience of time lag from withdrawal request to seeing funds back in my account is as follows: 7 - 14th 11 - 14th 16 - 20th 20 - ?th (26th)
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jimbob
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Post by jimbob on Oct 23, 2015 10:35:07 GMT
OK I've managed to sell a property loan part. But it is the one I had listed for 0.3% discount, not the one for 0.5% (They are otherwise identical) - how the hell does that work
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jimbob
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Post by jimbob on Oct 23, 2015 10:20:46 GMT
The S*S* loan looked ok to me - I think finishing at 8:20 in the morning can't have helped it though.
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jimbob
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Post by jimbob on Oct 22, 2015 16:19:45 GMT
Surely underwriter or angel investor cash should be used to fill loans at the end rather than the start
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jimbob
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FundingSecure (FS) in Administration
New Loan Coming
Oct 22, 2015 9:29:46 GMT
Post by jimbob on Oct 22, 2015 9:29:46 GMT
Can't see this one lasting long with the low LTV.
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jimbob
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Post by jimbob on Oct 20, 2015 15:14:44 GMT
Small update, the Marketing team are re-looking at the blurb but also a "calculator". The text is expected to change, but it is hoped that the sell-out calculator available to members will be available to non-members. Obviously this needs some amendment as it needs some hypothetical information, e.g. amount on loan within different terms, historical rate at which loans were booked, etc. No promises, but discussions are already happening. Kevin. do you think your Marketing Team could possibly look at highlighting the 'additional' risk on 3-5 year products.
That risk being that Interest Rates are at rock bottom currently - and WHEN they increase their investments WILL LOSE CAPITAL VALUE ? And then go on to give a typical scenario?
EG
5 year term @ 6% and rates after 2 years are 10% (owing to increase in base rate) ... where does this leave our imaginary Investor wanting to sell out of the IFISA?
or is that just too much transparency ...
Isn't this the reason 5 year rates are higher than say 3 year, the long term yield curve and expectation of rate rises perhaps a couple of years from now ?
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jimbob
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Post by jimbob on Oct 17, 2015 8:12:07 GMT
There is NO probability that Savingstream would have recieved your cash at 'spot' rate. There is always at least a 2.5% charge on these sorts of FX deals. If you've put £500 in on your account and invested this and they've received only ~ £495 then yes, you owe them 5£ perhaps.
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jimbob
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Post by jimbob on Oct 16, 2015 9:12:54 GMT
Well I've got 5 parts so I'll put them all up at different discount rates (And a couple at par) - and see how they do. I'll use the info for future strategy
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jimbob
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Post by jimbob on Oct 16, 2015 8:51:15 GMT
I bought a few parts of London's finest property area 16444 Hackney loan for the 2%.
Whats the best tactic for these property loans - stick straight up on SM possibly at a small discount or wait a bit ?
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jimbob
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Post by jimbob on Oct 15, 2015 12:53:53 GMT
I've not double checked the maths, but I think if you invest the return of the 1st month into an 18% AER 23 month amortising loan; then the return of both that and the first loan into a 22 month 18% AER loan, and so on and so forth cascading then at the end of the process you'd have just under £981 profit, or a return of 18% AER Reinvesting the Savingstream cash yields 12.68% AER as it is 1% a month, not 12% a year... (The calculation is somewhat simpler than the amortisation cascade though (1.01^12)
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jimbob
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Post by jimbob on Oct 15, 2015 12:23:14 GMT
www.amortization-calc.com/You'll get repaid £124.81 per month on the amortising loan; and £25 on the Savingstream investment. Of course at the end of 2 years assuming no reinvestment in either your £2,500 capital will still be sitting there with SS and all your capital will be returned with the REBS loan.
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jimbob
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Post by jimbob on Oct 15, 2015 10:43:06 GMT
We're down to 2 loans to bid on now, any idea what happened to the 3 that were around previously ?
Filled up or taken off ?
I decided to give them a miss.
In possibly cheerier news my first withdrawal from LendingCrowd is now back 'home' reducing my outstanding debt to HSBC.
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jimbob
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Post by jimbob on Oct 15, 2015 10:27:10 GMT
Right now it is I guess. ^^;
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jimbob
Member of DD Central
Posts: 317
Likes: 74
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Post by jimbob on Oct 15, 2015 10:07:05 GMT
7170 now official. Quite a list of defaults today, making my worst ever day on FC (over 600 quid down!!)
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Loans defaulted 15th October 2015
The following loans have been defaulted today. If you are lending on any of these loans a full update can be found in the recent loan comments section on your Summary page.
Loan ID 2970 (Original risk band C)
Loan ID 10070 (Original risk band A)
Loan ID 3133 (Original band C)
Loan ID 7170 (Original risk band A)
Loan ID 9128 (Original risk band C)
Heh, my start to p2p with fried chicken has not gone as planned: Earnings -£4.48 Fees ? £0.46 [extend] Losses -£17.84 Net earnings ? -£22.78 Doubt I'm going to stay here for any more time/money than I have to get the £50 bonus tbh.
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