jamesc
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Post by jamesc on Mar 11, 2017 18:22:45 GMT
Also although I do have a little Goff myself I am afraid this might fall into the final category !
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jamesc
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Post by jamesc on Mar 11, 2017 18:21:21 GMT
Hello, today my first FS loan was due to expire (Goff). Didn't receive any credit, no update in the update tab. Very low visibility. What's next ? Only a minority of loans renew or repay on the due date, however about another 40% do renew or repay within a week of due date (usually renew). If there is no action for a week an update will usually appear to investors on loan progress or too give the borrowers often pathetic excuses as to why he has not paid up, although they can be very woolly at times. Of the balance 2/3rds renew or repay within approximately a month of due date and the rest well who knows ?
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jamesc
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Post by jamesc on Mar 9, 2017 14:03:59 GMT
Got mine yesterday 15:34. Strange. I got one for DFL 1, 12 and 17 but not 5. Likewise got one for the three DFL'S 1,12 & 17 but nothing for 5.
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jamesc
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Post by jamesc on Mar 6, 2017 19:11:15 GMT
Unfortunately they could bring a small loan at 1% and it would fill because too many people have default prefunding levels. They might not want it after the event, but the loan will fill, probably even be oversubscribed !
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jamesc
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Post by jamesc on Mar 6, 2017 17:14:58 GMT
I find that I must put the other side of the case. FS is currently my favourite site and it will shortly be my largest p2p holding (it used to be SS).
My experience of returns have been much better than other's with an IRR of over 14% if I include accrued on all loans other those that are overdue (which are only 11%) of my current portfolio.
Its one of the few sites that have a constant flow of good quality loans on a variety of assets, (although there are some dogs ), they don't price by liquidity in the way SS are doing the current loan on the SS pipeline at 7% would be at 12% here.
I find that the online chat staff are very helpful and if required the directors will call you.
Yes there are some downsides the biggest is lack of liquidity, to sell any meaningful amount of loans you need to discount quite heavily, however the presence of a Prem/dis SM means there are possibilities to minimise tax.
Other downsides include poor updates on overdue loans although the frequency has improved and as interest is not retained LTV'S are technically higher than stated. And some loans can take a long time to fill although the good ones usually fill in a few hours.
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jamesc
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Post by jamesc on Mar 6, 2017 16:54:57 GMT
I see we have a new loan just added to the pipeline at 7% PBLxxx - 2** L******** L***, P******, Lancashire
Security Value £325,000
Loan Value £151,567
Loan to value 47%
Remaining Time 364 days
Annual Rate 7% They are now seriously taking the micheal
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jamesc
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Post by jamesc on Mar 3, 2017 22:12:22 GMT
Three things in particular struck me PBL006 says interest received for a ONE month extension ' what happened to the other five' ?. Last update on PBL143 was just about to repay and then today we get no change ' no change from what' ? And if the updates are to be BELIEVED there are going to be a lot of loans repaying soon !!!!
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jamesc
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Post by jamesc on Mar 3, 2017 8:40:47 GMT
I just deposited some funds into COL unbelievable how quick (close to instant), even quicker than MT and they are quick. If COL can do it why can't a much larger outfit like SS do it ? It would completely remove the majority of negatives of removing INPL.
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jamesc
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Post by jamesc on Mar 1, 2017 14:37:25 GMT
All three default loans have sold parts today.........................................? But maybe before they got sent to the naughty corner at sometime after 9am, just about as much as I have ever seen available on 74 & 75.
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jamesc
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Post by jamesc on Mar 1, 2017 14:28:46 GMT
A word of warning for anyone who has ticked to roll over a holding in the £350k "Farm Buildings Conversion - Renewal" loan (2013584984). The old loan paid 13% but the email states that the new one to be launched tomorrow will pay just 12%, presumably on account of the increased valuation / lower LTV (now 51%). I spoke to FS the e mail had an error the rate will be 13% with bonuses.
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jamesc
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Post by jamesc on Mar 1, 2017 14:15:40 GMT
Seems We have 3 new default loans today unless I am seeing things I think a few people got a shock because whilst loan availability on the main SM has remained small the loan availability of the three defaulted loans has been rising all day. I wonder how long before the penny will drop that there are a lot more loans that will join them shortly ?
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jamesc
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Post by jamesc on Feb 28, 2017 15:05:58 GMT
What would be really nice to known, although I guess we will never know is how much they had to dip into the provision fund for ?
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jamesc
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Post by jamesc on Feb 28, 2017 10:40:19 GMT
Some of the AE loans don't seem to have paid interest today when they should have done. (AE658 and 659, maybe others). Also BPF543 hasn't paid. I think MT have done a great job the AE loans aren't due till the 31st MOST other platforms would have paid out on the 1st but as always MT excellent customer service means they pay us interest early rather late !
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jamesc
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Post by jamesc on Feb 26, 2017 20:23:49 GMT
Quite reassuring for the SM to return to a semblance for normality with large amounts available in PBL 74 & 75 both of which look like they will default on the 1st.
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jamesc
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Post by jamesc on Feb 26, 2017 20:21:01 GMT
Anyone need to sell any of this loan (even a small part). Have some money stuck on it. Cheers. Ok if you twist my arm have got some of that to sell.
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