Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Nov 22, 2017 1:16:20 GMT
Bidding now reopened. Help yourselves! Mass panic selling of the 2nd development and B******ton. Think some people might not have read the update on how 'soft' this default is.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Nov 9, 2017 22:41:24 GMT
I'm en route to 34% in P2P, with 58% in BTL property, 8% in cash and the rest in equities. Not exactly a model of diversification, but am in the middle of a career collapse change and need short-term income. Spend a little bit of the cash on a calculator.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Nov 6, 2017 13:44:46 GMT
Afternoon, Thoughts on premiums and discounts
There has been a lot of discussion on the forum recently regarding premiums and discounts. Lender's opinions appear to be polarised on this issue with some advocating the introduction of premiums and discounts and others preferring the current system of 'at par' sales. While we have considered all the points raised in private messages/ emails and on this forum, we have decided we will not be introducing premiums and discounts for the time being. That position is based on the following: - We believe in keeping things simple as far as possible. Introducing premiums and discounts adds a layer of complexity and particularly regarding tax and the introduction of the IFISA. - The regulation around secondary markets is changing with the implementation of the Markets in Financial Instruments Directive II (MiFiD II) in January 2018. At present, our secondary market is basically a bulletin board where lenders can offer loan parts for sale and we do not play a role in the transaction. Any changes to allow premiums and discounts could be seen as offering a multilateral trading facility under MiFiD II, which would have far reaching regulatory and capital implications for us as a firm. We plan to wait for guidance from the FCA on the new MIFID II rules to be published and we can then make an informed assessment of the impact of these rules on a premium/discount market. - There is no clear, overriding customer demand at present. Lenders are polarised in their views and as such there is no clear advantage at this time. We are not discounting (pardon the pun), the option entirely and forever. We thought some input from us is timely. We very much value the input given by lenders and we will continue respond to lender demand as we grow. As a related point, we do not see secondary market availability as a necessarily negative factor. Lenders place loan parts for sale for a wide variety of reasons and it is not necessarily a result of general lack of confidence in us as a platform or a loan in particular. We recently saw high availability (as a result of the recent cashback offer and other events). It has now reduced back to more typical levels. Kind regards, Ed Thanks Ed Great to see a platform give a definitive answer with their reasoning behind this. Whether investors agree or not with the outcome, this shows that you have listened, made a firm decision and are then willing to communicate with us on the forum. All positive points for MT.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Nov 4, 2017 20:34:57 GMT
It would buy three round these parts. what do you mean? Probably that martin44 lives in an area where house prices are below the national average (c240k)
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Oct 21, 2017 13:49:06 GMT
This surprised me " The product was most popular among 35 to 44-year-olds, accounting for 26 per cent of investors, followed by 25 to 34-year-olds accounting for 17 per cent. The younger age bracket of 18 to 24, as well as the 65 to 74 cohort, accounted for just 10 per cent each." At nearly 40 I usually feel very young (and very poor) on these boards. Made me wonder on how the survey was performed. Would suggest that statistically the survey would not have been performed particularly well. 18-24 10% 25-34 17% 35-44 26% 45-54 ??% 55-64 ??% 67-74 10% As the survey tells us that 35-44 is the highest at 26%, and 25-34 the second highest at 17%, then the next highest category must be 16% or lower. Given that we have 37% unknowns left to fill in and only two slots left to fill, it looks like the survey might be slightly off. Of course there could be a massive take up in the 75+ bracket but this would surely have been mentioned. And don't even get me stated on how you can compare the percentages of the 18-24 (7 year group) subset, with all the others that contain data from groups with a 43% higher data set (10 years). "There are lies, damn lies and statistics" Mark Twain c1906
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Oct 12, 2017 11:43:35 GMT
valerieb has a good point. I read this site nearly every day following the p2p threads I am interested in (5), however I only ever log in if I want to comment, like today, so counting the times I have logged in would give no indication at all of my use of the site. Incidentally I take this opportunity to thank all those very diligent contributors who have helped me to make my lending decisions. Sorry if I messed up the quotes. We didn't even have phones when I was born! Golly -you must be VERY old owlcation.com/humanities/history-of-the-telephone-system-ukCertainly able to date you chielamangus. Word Frequency - Golly
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Oct 9, 2017 12:15:08 GMT
My name is Jordan and I am a Marketing Executive here at businessagent.com. At Businessagent.com we are creating the alternative finance marketplace where we show all of the equity crowdfunding and P2P platforms in one place. We are currently working on gathering data to create graphs to display statistics from the major P2P platforms. Funding Circle are one of the first companies we have added to this graph. All of the statistics that are shown on the graph have been gathered directly from the platforms websites. Here is the link - businessagent.com/p2p-stats. Please feel free to give suggestions as to any other useful data you would like to see or any improvements you think we should make to this page. Ever heard of a 'legend'?
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Sept 14, 2017 16:36:02 GMT
I'll just remind everyone of the (fanciful) valuations provided 12 months ago: Yes, Lendy LTV 65%, Real LTV 116%.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Jun 13, 2017 12:53:17 GMT
I think discounting loan or putting a premium on them is a stupid idea. I think the fair way is they way we have now, 1st person to sell a loan goes to the front of the que. I have quite a bit myself for sale on the secondary market stuck in big que's, I'm prepared to keep them there as long as it take. So you're happy to have 'quite a bit....stuck in big que's (sic)...as long as it takes', but would not want the opportunity to reduce the time to sale by offering at a discount even if a 1% discount saved you two months queuing? Being pedantic but it is not '1st person to sell a loan goes to the front.....' but actually first person to put a loan up for sale goes to the front, if you can see the ramifications of the subtle difference between these two statements you might understand why discounts (not premiums) would make the 'market' work.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Jun 7, 2017 11:12:02 GMT
A refreshingly human response to a simple oversight. I have so much more faith in those platforms which immediately acknowledge their mistakes and respond accordingly in comparison to other well known platforms on here that pretend their systems and processes are infallible and where the simplest of questions are met with one of those familiar corporate responses that manages to use a lot of words but actually says nothing at all. Using google translate on Ed's comment 'this is actually my b***s-up' and setting the parameters to translating from MT to [insert your preferred platform name here] suggests the following.. 'Due to a cognitive reasoning assessment error and a strategic decision not to look under the bonnet to ensure we selected the appropriate low hanging fruit to confirm we had our ducks in a row, our lack of cascading relevant information within our strategic staircase has caused this issue. Although we accept no responsibility for this error we thought it commensurate to reach out to our lender base to square the circle with our helicopter view on this issue. Should you require any further information, please feel free to touch base with us offline' Anyone prefer the latter?
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Jun 1, 2017 10:33:16 GMT
Often people ask how many percentage of investment profile is in p2p. I prefer to ask how much one earns from it, because ones financial situation will determine how he invests. I will start the ball rolling. i earn about 50 pounds monthly on p2p. enough to cover my mobile phone costs..... Would suggest that your 'financial situation' strategy would be better focussed on reducing your mobile phone costs rather than worrying about your P2P investments. My mobile phone costs are £8.33 per month, so I will always be £500.04 better off each year than you. Assuming reinvestment of my mobile phone 'savings' and compound interest at 10% on P2P savings I will be £28,656.95 better off than you in 20 years time from having a lower tariff alone.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on May 26, 2017 16:26:17 GMT
At least the image at the top of the email gives us a better understanding of some of the weaknesses in Lendy's historical communications, and this may be why Paul64 has been brought in to upgrade them.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on May 22, 2017 10:15:31 GMT
Morning, I would very much like to move the loan launch time to earlier on in the day, midday ideally. As you can appreciate, much of the FFF effect has been mitigated now by reducing bid limits & extending the restriction duration to 48hrs (most of the time). When we originally engaged with lenders on this subject quite some time ago, 4pm was found to be the most popular time. Up until full-authorisation where we pre-funded all loans using our own funds (before then selling them down on the platform), loan launch time had little effect on how we managed the loans from an operational perspective. Now that we no longer pre-fund loans, 4pm becomes a little awkward with respect to drawdown for the borrower as often loans only become full just after the bid limit is de-restricted at 4pm for any final balance. Often it is too late in the day to send funds over to our solicitors, who then need to send it on to the borrowers solicitors, before then sending it on to the borrower (or the new lenders solicitor and then the lender if it is a refinance). As such, if it is at all possible I would like to move launch time to 12pm. Many thanks, Ed My bold. MoneyThing Ed you really do stand out from others in engagement with your lending community. This one particularly made me laugh P.s 12:00 works fine for me and thanks for explaining the logic behind it
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on May 11, 2017 12:37:28 GMT
Don't worry. I learn this morning that Citizen Corbyn plans to do away with Tuition Fees and reintroduce Maintenance Grants, so student demand should sky-rocket. What can possibly go wrong...? Jeremy also wants to significantly increase house building - could that additional supply for our country's first time buyers and lowest earners devalue our development projects? I think so, and could never vote for someone who could even imagine putting the infrastructure in to support the opportunity for our youth to stand any chance of ever getting a roof over their heads and starting their lives with some semblance of security over the views of us insanely greedy P2P investors looking to make 12% returns by ensuring the property market moves even more swiftly to the next bubble. Average age of first time buyers now 38
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on May 11, 2017 12:01:39 GMT
Classic complex version of the Game Theory of the Prisoner's Dilemma. COL have a loan (Chelsea) that filled very quickly for £595k and the current daily churn on that is quite minimal. Hence, with no other information, we can assume that money is there to at least this value and probably well above. Yet this loan has only received £380k of funding in a couple of days. Those who have access to MT will be able to see the aggregate totals of this loan that is being held there even with the threat of Imminent payment, showing that it is perceived as a high quality loan. I would agree with others that the issue around perceived future liquidity is what is holding this back, although I think if all the BH's (not sure of the dictionary definition of this but I would think I fall into this category) who are holding back on this could somehow align their knowledge of the sums available, this one would launch quite easily and SM liquidity would not actually be much of an issue. Ask yourself how much you would invest in this if it were currently at 90%? I know my answer Whilst everyone is waiting for someone else to make the first move, I think this might end up back with MT @ 12% without cashback where amusingly it will fill instantly. Before anyone points this out, yes I am part of the problem not part of the solution. As collateral seemed to listen to my last post and implemented a Cashback incentive, I would invite them to contact me via PM if they wish to discuss how a pledge system may also be required to get this launched.
|
|