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Post by Duane Dibley on Jul 1, 2014 20:50:58 GMT
Nice one. That's really made my day.
So those existing investors whose loans in the Bayliner were repaid but couldn't rollover or reinvest and so put the money into the only available loans (properties 4 & 5) get nothing, but any investors with new money get 1% cashback?
Yea nice one. <<MODERATED: BB: use of *'s doesn't mask/excuse use of excessively crude language. Please take note of of the following forum rule "Please be polite and constructive.">>
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Post by Duane Dibley on Jul 1, 2014 17:29:53 GMT
That's exactly the problem though. It's all right putting the money in to the property loans but if you can't invest into new funds later on then your portfolio becomes less and less diversified. If investments can't be rolled over and new investments are only available to those with fast fingers as time goes on your investments become more concentrated in the larger property loans, the very opposite of what you are trying to achieve by diversification. It's not that I want existing investors to have an advantage over new investors, it's because as the old loans mature but because of demand it's not possible to invest in new or renewed loans my investments are getting less and less diversified. Apart from the property loans I can't remember the last time I invested in a loan.
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Post by Duane Dibley on Jul 1, 2014 17:03:57 GMT
Would be nice if all investors did get an equal chance.
But when it gets snapped up within minutes of going live there's not much chance of that.
Seems very unfair to me, but then I guess we all have our different opinions as to what constitutes fairness.
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Post by Duane Dibley on Jul 1, 2014 16:44:22 GMT
Thanks for the update savingstream. Communication appreciated. Will existing investors be rolled into the new loan? Unfortunately no, we will be repaying all existing investors capital plus interest and opening the loan up as a new loan with a investment cap of 2% (£500). Shame that Saving Stream didn't show any loyalty to existing investors over this loan. Especially with the loyalty shown by investors when SS were going through the photographs and testimonials fiasco.
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Post by Duane Dibley on Jun 27, 2014 19:11:19 GMT
In effect it means that AI is redundant for anybody with prebids or shadowbids unless they have sufficient funds to more than cover their forthcoming liability.
Which kind of defeats the object. Strange.
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Post by Duane Dibley on Jun 27, 2014 18:45:40 GMT
Once again well done SS on implementing a sensible and practical improvement.
On the similar subject of withdrawals could I suggest that like other sites they allow withdrawals only to a registered bank account or debit card rather than simply entering the details each time, which would prevent mistaken or fraudulent withdrawals.
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Post by Duane Dibley on Jun 13, 2014 17:00:24 GMT
Agree with both suggestions but would think 10% was too much.
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Post by Duane Dibley on Apr 24, 2014 20:07:29 GMT
No, its not good news - but If it tells us what the hold ups are surely better than nothing? I take it you are unhappy with waiting? No more than anybody else, my post was made tongue in cheek. Waiting for drawdown is the part of the fun, it's the nature of the beast. If people don't want to wait for drawdown they can go elsewhere where their money is invested immediately or even go on the aftermarket. It just struck me as rather ironic that a thread titled 'Drawdown Updates' didn't in fact have news of any drawdowns completed but instead was about the website being updated to tell us that we were still waiting for drawdowns - good news indeed, indeed!
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Post by Duane Dibley on Apr 23, 2014 18:25:23 GMT
We've been waiting rather a long time for some of these loans to drawdown.
We know that we're waiting for them to drawdown.
We're still waiting for them to drawdown.
I'm not really sure how telling us that we're still waiting for them to drawdown qualifies as good news.
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Post by Duane Dibley on Apr 18, 2014 21:55:35 GMT
Disagreed. My vote would be purely for liquidity purposes. Most boaty loans are relatively small, so if there is a profit to be earned on the SS SM, before you know it, every new loan, of which there aren't currently that many, will be bought up by one investor or the few that have the time and funds to do so, then flipped at the highest possible premium. At least for the period that SS are in the process of building their lender base, it's plain to see that AC's AM approach of 'no fee/no premium' works for all, whereas FC's ' profitable' SM is now clogged up with, what was the last count, 23,000 loan parts at par? Apart from than for any other reason, given the short term nature of loans on the SS platform, the smallest seller's premium would have a huge impact on the buyer's rate of return, which could open up a whole can of worms where the FCA are concerned. Nah, can't agree. AC's AM 'works for all'? Seriously? Doesn't seem to be working much for anybody at the moment. There's the usual 3 bridging loans with massive underwriting, and well that's about it. I've never had a problem buying or selling at FC since they started in 2010. All my sales have been at par or at a premium, my latest just being yesterday at over 1% premium. For those who just want to buy whatever they can get their hands on and then sell at a quick profit a few months months later then it's not going to work longterm, but for those who put some time and effort buying and selling at the right time and the right price, a well funded aftermarket operating at both a premium and a discount can be a great advantage. Still each to their own.
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Post by Duane Dibley on Apr 18, 2014 10:50:03 GMT
Be nice if we could make a little bit of profit from the secondary market too. But it's good to see S/S growing from a rather inauspicious start to the present position and giving lenders what they really want rather than faffing about with additions which may look and sound nice but in reality add very little. The only thing I'm waiting for is to see how they cope with a default, which I'm sure will happen sooner or later.
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Post by Duane Dibley on Apr 16, 2014 18:06:23 GMT
Not that I'm recommending it but if anybody's interested MBNA now offer a credit card allowing money transfers at 0% for 30 months, with a 4% fee and 1% monthly repayments.
Takes me back to the old Stoozing days.
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Lendy (L) in Administration
Cashback
Apr 16, 2014 13:25:31 GMT
Post by Duane Dibley on Apr 16, 2014 13:25:31 GMT
Now that's how cashback should be done. Are you watching FC and AC?
Not just new funds but rewarding existing lenders.
Well done Saving Stream.
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Assetz Capital (AC)
Go Cardless
Apr 12, 2014 12:33:48 GMT
Post by Duane Dibley on Apr 12, 2014 12:33:48 GMT
There are plenty of other options for online payments.
Most online bookies use Skrill (Moneybookers) and I've never had a problem with them.
It's a shame about Go Cardless but it's just another example of a company having a good idea and then getting greedy. Although I do like using them, in a way I hope that if they do put their prices up that AC and others dump them. There'll always be some new innovative company coming along to take their place, that's the nature of the internet.
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Post by Duane Dibley on Apr 10, 2014 19:19:29 GMT
It's not just pre-bids that seem to be a bit iffy at the moment.
I've placed a couple of real bids recently and found problems.
The first one was Coventry when I placed a bid, nothing happened, no acknowledgement, nothing under 'Your Bids', no change in balance, and so I bid again and lo and behold as if by magic two identical bids appear.
The second time was tonight with Burnley, when the same thing happened, nothing, nada, but I'm smart me and I'm not going to make the same mistake twice and bid again, oh no, so being smart I just refresh the screen expecting to see the bid made and nice new balance, but yes you've guessed it - two bids! Aaaarrrgghhhh!!!
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