r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 6, 2019 7:37:19 GMT
My The Times App has in the Sunday Times Business Section Headline: “ Funding Circle chases pair” The web version is: www.thetimes.co.uk/ <redacted> For a moment of disbelief I thought I’d read “ Funding Circle grows a pair“. But alas not the headline nor the reality. Wonder why they picked on these geezers. I mean if every borrower who defaults on a £250k loan is worthy of being printed, well, they'll have the business section of the Sunday Times sorted for the next 10 years or so!
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 5, 2019 8:29:16 GMT
My brother is an expert on this bank and would be very pleased to meet up to answer your questions. Unfortunately he is currently stranded in Nigeria with insufficient funds to return. If you send me the money for a flight back I would be pleased to arrange it for you. 😉 Praise you sir, I have done the needful at my local Western Union. Pray Jesus he arrives without delay to conclude our mutual business transaction.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 4, 2019 11:23:08 GMT
I have a cash bond awaiting funding with The Access Bank UK, branded as sensiblesavings. Does anyone else have one of these? (topped the rate charts a couple of weeks ago). The thing is, although I'm 99% sure it was advertised as such on MSE at some point, and their website is certainly plastered with it, their site for some reason doesn't appear on the FSCS register that I can find. They do appear on the FCA register as possibly FSCS protected (but then I think I've seen some P2P firms listed as "possibly" FSCS, so I don't place much value in this) Given that this is basically a UK hub of a wholly owned Nigerian bank, I seriously want to be 100% sure of FSCS protection before putting any money with them. Well, that applies for any cash savings to be honest. Any reassurance on offer from anyone?
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 10:13:26 GMT
I feel I should understand what this post is about, but I really don't..? I think it is a theatrical interpretation, advocating not investing in FC. I have been doing a still life, black and white silent version recently. Everyone here who wants to sell out of Funding Circle raise both hands!
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 9:49:46 GMT
Lender 1: I put my ISA allowance in an FC IFISA. I didn’t like the early default rate, the nature of the defaults (e.g immediate administration after drawdown in some cases) didn’t inspire confidence in the recoveries nor in the long term default rate across the whole portfolio nor in FC’s lending competencies. Then when I put the portfolio up for sale I got a stark reminder of the obvious: liquidity is for the few not the many. Lender 2: What additional lesson to the obvious ones can you draw. Lender 1: FC’s lending business skills are poor? Lender 2: That’s not additional to what you’ve already learned. Lender 1: You can’t assume liquidity is always there. It’s least likely to be there when you want it most. Lender 2: That’s not additional to what you’ve already learned. What important third lesson is there in this experience? Lender 1: Hmmm..... I feel I should understand what this post is about, but I really don't..?
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 9:01:04 GMT
Swivel eyed remainiacs having been frothing at the mouth that Mr Johnson was intent on leaving without signing a new EU Treaty are now pausing while they work out how they can present this well considered proposal as an extreme cliff edge catastrophic crash leading to widespread death and disaster, I'm sure that it won't take long. Woah, someone got out of the wrong side of bed! I think it's fair to say it's a more considered move than expected, which in comparison to their horrendous stance to date looks comparatively more sane. If, however, this deal was put against May's deal at the same time, it would probably have been rejected outright. The truth is, we're all a bit more desperate now for it to be "over" (not that it actually would be, with p2. imminent). Anyway, what remainers think is irrelevant at this stage, they (press, MP's) reckon this deal could have a majority in Parliament. But will it get that far? Of course, if the EU do reject it will naturally be all of their own fault (intransigence etc) - how dare they not notice that we hold all the cards!
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 8:34:37 GMT
My usual media sources are suspiciously quiet about this new proposed deal, when they're usually very quick to show huge problems with it and how it'll definitely fail. I rather suspect they might be a bit concerned that this could actually be negotiable with the EU and have a majority in Parliament. This said, the European Parliament have already indicated their displeasure this morning, so far from certain on any front. My amateur reading of the FX markets suggests nothing has changed from before the release. GBPUSD still trading around 1.23 and GBPEUR at 1.12. If a deal were on I'd of expected those to have risen much higher, right? Yes, I agree. I think at the moment there's caution everywhere, no one knows quite for sure whether this is at least the basis for negotiation, or a non-starter. The £ was a little bit up until the EU parliament came out and said it's "not a basis for agreement". edit: and it's up again. Yeah, all a bit uncertain! (and obvs could be other stuff too e.g. services data)
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 8:10:45 GMT
My usual media sources are suspiciously quiet about this new proposed deal, when they're usually very quick to show huge problems with it and how it'll definitely fail. I rather suspect they might be a bit concerned that this could actually be negotiable with the EU and have a majority in Parliament.
This said, the European Parliament have already indicated their displeasure this morning, so far from certain on any front.
Edit: I think Nick Robinson probably has the most plausible take at the moment:
"Finding all this complicated Brexit deal talk a bit hard to follow? Let me try to help. May negotiated a deal the EU could live with but MPs couldn’t. Johnson has now proposed a deal which Parliament would probably back & the EU almost certainly won’t. I hope this helps"
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 3, 2019 8:06:39 GMT
My 'Funds available' email arrived at 7.02am this morning, of the funds remaining in the a/c around 91% were sold, I guess the remainder are the usual unsaleable runts. I'm one of the many people who were selling up simply to move funds into my FC ISA a/c. Once you do this, the selling delay issues, which I was completely unaware of, become quickly apparent. This, coupled with the rash of new defaults recently, makes it unlikely that my released funds will now be going back into my FC ISA. I'm not sure what to do with these funds now, Lending Works is looking increasingly attractive but placing more cash here doesn't do much for my diversification. To be fair the more recent loans I have currently in my FC ISA are faring reasonably well, just a couple of defaults so far. Hmm...what to do.. Have you had a dabble with Assetz Capital at all? I only say as that's the first place I consider putting new money personally. Naturally, not advice!
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 2, 2019 11:38:29 GMT
It has been reported that RS have denied similar bonuses when loans have repaid early. Keeping your money on loan for 180 days might not be simple.
Some good reminders there, although if you invest from tomorrow in the new products you'll probably have more of a job trying to get cash out than keep it in
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 2, 2019 9:57:24 GMT
If you're one of the five remaining people on this board who don't have a Ratesetter account, then Topcashback are offering £250 today only if you can invest £10k in an RS ISA (fyi this is not a referral link)
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 2, 2019 8:07:11 GMT
Well, anyway here's a slightly different angle on things to change the subject.
The one thing Brexit has done is teach me things I didn't know. Things that Brexit has taught me:
1) It has taught me that politics does matter (I was very disengaged prior to this).
2) It's been a political, constitutional education - to say the least.
3) It has taught me how valuable democracy is, and how easily it can be dismantled if we're not careful ( I refer here specifically to the SC ruling preventing future Governments of any hue doing whatever they want)
4) It has taught me a (painful) lesson about just how divergent views are across the UK on this axis. It was horribly inflamed by the referendum, but at least the discontent with the current state of affairs has been clearly expressed. If we can overcome this horrible politic moment, it could be beneficial in the long run for the UK.
5) It taught me to not only measure my investment portfolio in Sterling, as I live abroad for much of the time. This in hindsight seems obvious, but wasn't to me prior to June 2016.
6) Finally, it's shown me how much I took for granted about being in the EU and shouldn't have done. My wife is from another EU country and some of my friends are too. All have been affected in different ways by the collateral damage. I had always imagined I'd buy a little place somewhere in the EU in the fairly near future, without really thinking about it. Now - who knows?
Here's hoping that something better emerges from what seems a very bad place currently.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 2, 2019 7:36:05 GMT
The Conservatives are currently favourites to win a majority, so I don't think this would be too surprising. Incredibly depressing, but not surprising. r00lish67 - Try and talk about politics without feeling the need to input your political opinions. In my opinion makes any debate have much more value. If you want to debate a political issue try this technique...articulate and improve on the other persons view to the extent that they agree with it before you try to posit an alternative view. Sorry, dropped out of this chat rather precipitously as personal life intervened and then robbed me of any energy to even contemplate Brexit. I see that I need to endeavour to talk about politics without expressing my opinion, except when it enhances someone else's view. To which my wordpower can only fall in the shadow of this well-worn meme: No offence taken though, let's move on and see what today brings - I'm sure it's going to be a fun-packed family affair
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 1, 2019 10:52:43 GMT
I think people may be surprised at the next election results. May be totally wrong but suspect Conservatives will do a lot better than people think and I think will win a majority. Wouldn't be surprised if Lib Dems beat Labour, especially in Metropolitan areas. Theresa May was one of the worst campaigners in history and had an election manifesto seemingly designed to alienate her key voters. Cummings won't allow the same mistakes to be made, I think he will have a clear manifesto with three promises: Get Brexit Done, More Police, More Money for NHS. I think once the circus of parliament is over and campaigning begins Cummings will totally outmanoeuvre the other parties. Cummings is not every bodies cup of tea, but he is a fantastic strategic thinker, precisely what is needed in the current climate. The Conservatives are currently favourites to win a majority, so I don't think this would be too surprising. Incredibly depressing, but not surprising.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Oct 1, 2019 10:49:49 GMT
I can offer you 'Chicken Licken' in response. I could also remind you of the old advice given about arguing with an Idiot. The extremes on both sides of the argument may have an acorn of truth in them, but will never change anybodies mind. This is truly a debate that can only be had, and never won. The promotion of everyone's feelings and beliefs to equal status as the truth throughout this whole debate (and not just here) is rather trying. To say the least. It simply doesn't matter now that our own health service is warning of severe issues, or even that the Government is too (whilst keenly trying to implement them anyway) Because 'Brexitnow73321' tweeted that he reckons No-Deal is 'project fear'. End of.
|
|