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Assetz Capital (AC)
Referrals
Jun 30, 2014 19:18:40 GMT
Post by phlitb on Jun 30, 2014 19:18:40 GMT
Does AC offer a "refer a friend" incentive for potential investors, or must I instead point them at FC, SS, FS etc?
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Post by phlitb on Jun 25, 2014 16:38:54 GMT
Just put a couple of loans up for sale. one was £103.91. £100 has sold with £3.91 left over, but this £100 did not get added to my account. It seems like nothing is added until the hole loan is sold, and I'm not even sure if anyone is allowed to buy the rest because of the small size remaining. I can confirm it is possible to buy a part of £3.91!
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Post by phlitb on May 29, 2014 17:21:37 GMT
My missing £40 has also rematerialised, but on past performance I have no confidence that these problems won't occur again...
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Post by phlitb on May 29, 2014 9:25:14 GMT
My account remains £40 down...
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Post by phlitb on May 28, 2014 8:29:55 GMT
I have at least £40 missing, plus my account went down further overnight - perhaps fees were subtracted and interest not credited. It tends to sort itself eventually, although I recall one case not so long ago where it took weeks.
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Post by phlitb on May 13, 2014 18:11:10 GMT
This seems like bad news to me for AC and P2P in general if this loan flies (and it's already 17% funded within the first hour or so). If FC are able to mobilise their large but dare I say it unsophisticated investor base (aka autobidders) to drive rates for property loans down to these levels, then I don't see how other platforms can compete. I'm already pulling back from P2P personal lending (e.g. Zopa) as the risk / reward is no longer attractive, it would be a great shame if P2B / property followed the same path. God forbid I might be forced to buy some more shares instead.
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Post by phlitb on May 8, 2014 18:33:58 GMT
It does seem FC perform related tasks in batches. I got hit with 3 defaults today, after going a while without. And that's not the first time I've netted a hat-trick in a day.
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Post by phlitb on May 6, 2014 11:36:14 GMT
I eventually managed to get my desired bids in but it was a very tortuous process. FS should be devoting all their technical resources to improving the performance of their platform, it is very close to unusable when new loans are listed and will drive investors away.
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Post by phlitb on May 5, 2014 21:27:00 GMT
I've been privately asked about my comment concerning the auto-refresh feature of my browser, but since this may be of wider interest I thought I'd reply here. I use Firefox with the ReloadEvery extension, not only does it keep me logged in during the day to all those websites which would otherwise keep logging me out due to inactivity, I can see at a glance when there is new P2P loan activity to be acted upon. More than just useful, I couldn't imagine living without it!
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Funding Circle (FC)
4424
May 5, 2014 18:34:26 GMT
Post by phlitb on May 5, 2014 18:34:26 GMT
Totally agree with blender and bracknellboy here, the merest whiff of bad news - sell first think later. And my appreciation to Captain C for highlighting this loan.
One late (other than first payment or when there's an eminently plausible administrative reason) and out it goes. And more often than not someone will pay me for the privilege of taking it off my hands, if not there's always another auto-bidder around the corner.
My personal stats show less than 20% of capital recovered from bad debts so far. So why risk a likely loss of 80% of your capital on scraping a few extra percent of interest from a loan? You don't need to be a poker player to know when to fold.
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Post by phlitb on May 5, 2014 18:14:46 GMT
To balance some of the criticism of AI and what Chris and the AC team are trying to achieve...
Having started investing tentatively with AC, my increasing confidence in the platform recently reached the point where I felt I could double my exposure. I guess it took about 5 minutes to create AI mandates for all loans in which I wanted a larger (or new) position, and since then AI has done its best to fulfill those with reasonable success.
Without AI I can't imagine how much time would have been wasted lurking on the aftermarket to achieve the same result.
Meanwhile I think it's fair to say that the SS SM is in some respects about as KISS as can be - to the buyer it's indistinguishable from the primary market. As I type, every drawn loan is showing 0.0% availability, and I have my browser set to auto-refresh every 5 minutes just in case something becomes available while I'm at my PC and it catches my eye and I can frantically try and buy a part before someone else gets it. Not a practical way to build an investment portfolio.
I'm guessing that AC are moving towards the point where AI can be invoked to also automatically pick up parts on new loans according to one's preferred criteria, and investors who make use of that will almost never have to log in at all to manage their investment. And for those investors that would really be as simple as it gets.
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Funding Circle (FC)
Loan 6040
May 2, 2014 16:08:08 GMT
Post by phlitb on May 2, 2014 16:08:08 GMT
I think this was the one with a mistake in the listing concerning the government backing, not to mention a bad spelling mistake in the title. Now relisted as 6047.
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Post by phlitb on May 2, 2014 15:15:26 GMT
Well, here it is, 6043 - but now listed as anonymous!!
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Post by phlitb on Apr 25, 2014 15:08:19 GMT
I have been wondering this too. How about a charity account to which the executor, or any one else for that matter, can donate the residual bits and pieces? Like the idea of a charity account for the remnants, for anyone to transfer to, not just for deaths. Good PR for the platform too. I've a Zopa account which I'd like to close, but I've one late payer which it seems will keep the account open for many years to come...
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Post by phlitb on Apr 23, 2014 20:03:01 GMT
Please keep us posted on any FC reply. It really is appalling for FC to just downgrade a loan (especially one in which I have a share!) with no hint of an explanation or justification
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