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Post by xyon100 on Mar 22, 2015 18:37:40 GMT
Looks like you were getting out just as I was getting in. More fool me. That said, I don't expect any serious loss, but this really is starting to look like a disaster caused by Bondora greed. How the hell can they lend other people's money to people with 40 Euro disposable income? Oh, because they can....
It's not put me of P2P though. The Bondora model is very different to most P2P or P2B models in the UK.
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Post by xyon100 on Mar 22, 2015 15:30:46 GMT
It's a mess, that's for sure. My 2000 Euro experiment has concluded that I will leave the 2000 there to stew, but no further new funds. A pity, I have a lot of idle Euro. What it is, about a 15 percent drop in the value of the Euro against the Pound? Hard to see how any UK based investor would have found Bondora worth the trouble in the last year or so. The portfolio manager cannot be relied upon, manual investing is a PITA. Plus, I don't trust their reported return and quite frankly I cannot be arsed with working it out myself. I noticed yesterday that Bondora were lending my money to one person with a princely 40 Euro a month left over as disposable income. Nah, no more Bondora for me.
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Post by xyon100 on Mar 20, 2015 20:52:20 GMT
I don't think the Superyacht will default. If you refer to the bridging details of PBL006 you can see his occasional home. Some years ago, I took shares in a company that allowed a single client to run up an enormous debt because he was very rich, very well known(I never did find out who he was) and who was good for any debt he ran up. So it was reckoned. In the end, it was his enormous wealth and power that was the problem for the company trying to get their money. "Talk to my Lawyer". Some two years later I sold those shares and he had not paid up to that day. He has a mansion, too.
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Post by xyon100 on Mar 17, 2015 10:28:11 GMT
Probably. The amount of parts available for sale does seem to be continuing to drop. I'm certain they will. I don't believe there is any serious danger of losing money here; it's a small loan - any shortfall in sales value would be very small. It would be easily covered. And they did. And they can't have missed the default notice.
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Post by xyon100 on Mar 16, 2015 18:05:54 GMT
Is there a particular reason why this was so popular?
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Post by xyon100 on Mar 16, 2015 17:36:33 GMT
As newbie I was unaware of this. I think I kind of understand why SS don't really want to highlight a defaulted loan on the loans list. Anyway, when I clicked on it today it was immediately obvious. More than a bit naughty that is was ever anything else. Wonder if anybody will buy parts now?
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Post by xyon100 on Mar 13, 2015 10:58:52 GMT
Ah, OK. It's just I have a bee in my bonnet about some UK companies that demand UK this and UK that (or other countries for that matter) when there really is no need for it. Not that long ago I had a run in with a UK car insurance company that demanded a "full UK driving licence" when there was absolutely no reason for any such stipulation, it was just there because somebody thought it was the thing to do.
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Post by xyon100 on Mar 12, 2015 23:15:40 GMT
Saving Stream can accept investors from the EU, as long as you have a UK bank account. As long as we can verify your identity for necessary AML regulations, you can invest on the platform. Why do they need a UK bank account?
Of course if a UK account is needed, they likely won't be able to open that either.
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Post by xyon100 on Mar 11, 2015 12:17:56 GMT
Well that is exactly what I'm talking about. UK people who decided to dip a toe a year or so back will surely have caught a cold when the exchange rate drops 15 percent or so. I put 2000 Euro in to Bondora ( I have Euro accounts) and I have to agree with an earlier poster who says this site takes a lot of work to maximise the returns and even then, those returns are dropping. For sure, there seems to be a lot of negativity around the changes in the last few years.
My problem is an alternative to Bondora. I've seen nothing in the Eurozone that interests me, though perhaps I'm not looking hard enough.
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Post by xyon100 on Mar 11, 2015 0:54:27 GMT
I've been in Bondora a week. On the official forum (which you can only get to if you have a Bondora account) you'll see that default rates have soared lately. What's appears to be happening (or not happening) is that Bondora just aren't getting on top of defaults in the other countries. I'm drip feeding money into the safest Estonian loans, but there just aren't enough of these to go around. Added to that, my bank (HBOS) charge me £9.95 for a currency transfer each time I put money into my Bondora account. And the Euro has lost ~10% against the pound in the last 12 months - a trend that could continue. If you're into data analysis though, you can download some comprehensive loan stats and see if you can better your potential returns. When you posted this in November last year, one Euro bought 0.83. It now buys 0.71 and is dropping like a stone. Anybody investing Pounds in the last few years has surely had some spectacular results to still claim to be winning here.
Of course the other side of the coin is new Euro investments cost so much less. Currency risk should never be underestimated. If you are going to invest in other currencies then the currency exchange rate is probably a bigger factor than the default risks and interest rates.
Just my experience of 20 years between Countries.
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Post by xyon100 on Mar 10, 2015 21:18:50 GMT
And now working for me. :-)
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Post by xyon100 on Mar 10, 2015 0:05:23 GMT
Looks like just Belgium is cut off. I'll mail again in the morning and see what's going on. Not funny any more. :-(
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Post by xyon100 on Mar 9, 2015 23:05:06 GMT
Now in to Tuesday (just!) and still unable to access the site.
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Post by xyon100 on Mar 9, 2015 13:07:42 GMT
The only people who seem to be having problems are outside of the UK, from what I see at least. I still can't access the site from Belgium.
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Post by xyon100 on Mar 8, 2015 19:47:27 GMT
Looks like Ablrate are moving on after taking pertinent and constructive criticism on board. That's what matters, I guess.
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