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FundingSecure (FS) in Administration
bonus rates
Mar 7, 2016 15:53:17 GMT
Post by xyon100 on Mar 7, 2016 15:53:17 GMT
No, can't hurt to ask. In my opinion though, they are absolutely sending out the wrong message by moving the goal posts at the last minute. Lesson learned.
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FundingSecure (FS) in Administration
bonus rates
Mar 7, 2016 15:28:55 GMT
Post by xyon100 on Mar 7, 2016 15:28:55 GMT
Bonuses were initially only offered on 50,000 and 100,000, 2 and 4 percent. I was slightly annoyed already that 10,000 wasn't getting a bonus.
""5 hours ago
We are adding a 1% bonus for investments of £10,000 and over""
Brilliant, except I allocated funds based on no bonus for 10,000 being offered leaving my 10,000 earning 12 percent and not 13. Honestly, this "see how we go" business is not on, particularly as it has now cost me money.
Yes I do understand that FS have applied the bonuses retrospectively, but I don't have 10,000 in any one loan because there seemed to be no reason not to split the funds between two loans. Grrr!
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FundingSecure (FS) in Administration
bonus rates
Mar 7, 2016 14:44:45 GMT
Post by xyon100 on Mar 7, 2016 14:44:45 GMT
All I know is that bonuses for 10,000 plus were added literally minutes after I had allocated funds meaning I could no longer get the bonus. Not happy at all.
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Post by xyon100 on Mar 7, 2016 14:40:24 GMT
I once had shares in a small company that allowed a very high profile client to run up a million pound debt. He was good for it, we were told. After nearly a year with the messages from the company directors sounding less and less confident, it was finally admitted that our glowing high profile character who was good for any debt, was not paying. Nope, no security at all and should the company take him to court, he was going to counter claim that he was mislead about the risk and should not have been allowed to run up the debt. Without a lot more confidence inspiring information, I would not touch this loan with your bargepole.
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FundingSecure (FS) in Administration
New Loans (FS)
Mar 6, 2016 8:57:14 GMT
Post by xyon100 on Mar 6, 2016 8:57:14 GMT
I feel that is slightly harsh, the secondary market was changed very recently to allow premiums/discounts in 0.25% increments. Taking the position of devils advocate, are the changes that are being suggested here not simply producing a SS clone? I accept that the FS offering may not fit everyone's view of an ideal platform but it is different and these differences can be very useful. As a business being able to differentiate yourself from the competition is important. For instance no interest until term end .... very useful in several ways if you are into tax planning. The aftermarket. If you have a business account you can use this in several ways. As an individual you can also use this to your advantage if you sell close to term...... now it has been commented on that loans up for sale are not moving. I do not see this ..... if loans are offered at a reasonable discount they sell quickly. If as an individual you sell at a discount you have to remember (take into account) the tax advantage you are gaining, it is not a straight loss and you have also sold on the risk. devils advocate position[/off] As mrclondon commented recently I expect the aftermarket to settle over the coming year with -0.75 being the norm to sell and -1 for a quick sale. I have never been a flipper (and will never be) so in a perverted way I enjoy seeing all the loans with mark ups sticking - if people have bought simply to sell on at a profit lessons are being learnt. Personally I can see negatives in all the platforms that I invest through but it is a balancing act, look at the positives as well ...... All fair points duck. I do have a lot invested in FS so I don't think they are rubbish. But they must change something because they are currently offering 3 loans at the same rate with similar asset backing but only one of them paying interest before drawdown and recent evidence of a willingness to pay bonuses on loans slow to fill. In these circumstances it is hard to see why anyone would invest in either of the other two at this point. I'm sure your last point must be painfully obvious to the borrowers as well.
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Post by xyon100 on Mar 5, 2016 19:07:21 GMT
Fundingsecure SM now at 620 entries and climbing, 3 loans taking longer than normal to fill and "investments coming soon" as long as your arm.
And defaults comin out of their ears,
Something has to give.... Now nearly 650 entries and climbing. Mind you, some of them are seriously optimistic people with their 3 percent premiums on short dated loans! Personally, I think FS made a mistake allowing premiums at all.
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Post by xyon100 on Mar 5, 2016 9:32:41 GMT
10s of millions? Try £3.2bn... But still only a minute fraction of the money sloshing around in the mainstream financial sector. Don't think the banks will be worrying just yet. Not yet, but they have noticed. I just got an email yesterday from PSA bank in Belgium telling me they are reducing the rate yet again, a cut too far. That will be coming out and going elsewhere as soon as the annual bonus is paid. Property, P2P, anything other than sitting in the bank with the Belgian state eyeing it as a way to solve their debt crisis. Just now I decided to transfer some Euro to pounds and did I go to my bank? Nope, Transferwise. More and more I am avoiding mainstream banks and I think more and more people are the same. I tell you what worries me, but then I have become a little paranoid when it's comes to money, is the influence the big banks might have on the financial authorities when they do see their bottom line beginning to get hit by P2P.
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FundingSecure (FS) in Administration
New Loans (FS)
Mar 4, 2016 9:23:52 GMT
Post by xyon100 on Mar 4, 2016 9:23:52 GMT
I am in 5355230753 Property in Poole because it is paying interest whilst filling, but it is filling slowly. Why then would I invest in 1730417174 - Mixed Use Property, Liverpool and have my money earning nothing. Am I missing something? I was just about to ask pretty much the same thing. I'm looking and considering investing a significant sum, but then I am asking myself if I am missing something simply because it's so slow to fill? Now I'm wondering is a bonus will be offered of I wait further? Am I missing something?
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Post by xyon100 on Mar 4, 2016 6:13:07 GMT
Well chaps, being a keen hiker with time on my hands, I have decided to check it out in person. As soon as the weather improves, which could take some time.... Edit....Pictures of said wind turbines can be found if you research the Kintyre way walk. :-)
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Post by xyon100 on Mar 3, 2016 9:36:05 GMT
What on earth is going on with this loan? From nothing back up to 100k available?!
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Post by xyon100 on Mar 3, 2016 9:18:48 GMT
I agree that investing in more than one currency makes sense. That said, with a lot of luck involved, I sold all my UK assets and bought Euro when one Pound bought 1.6 Euro. Some time later I used many of those Euro to fund UK property purchases when one Euro was buying close to a Pound. Now I am about 70/30 Euro/Pound. Any which way it goes I can move either way. If the Pound continues to weaken I'll buy more Pounds and vice versa. Mind if I ask the actual logistics of that? I presume you didn't just head down to the post office or travel agent and get a big envelope of "holiday money" when then got stuffed under the mattress... UK-based Euro-denominated account? Or...? It's a simple matter of exchanging and transferring the money between my accounts in the UK and Belgium, and sometimes the Czech Republic. A company such as Transferwise is usually the best option.
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Post by xyon100 on Mar 3, 2016 6:06:06 GMT
I've never understood why many people on here refer to diversification across loans or platforms, but currency risk. Given that none of us can say with any confidence which way exchange rates are going to move, the only sensible thing to do is hedge against exchange rate movements by diversifying across currencies. I appreciate most people's day-to-day costs are in £'s, but fundamentally many of these prices are coupled to foreign currencies. If the pound goes down, the pound-denominated cost of petrol goes up. I agree that investing in more than one currency makes sense. That said, with a lot of luck involved, I sold all my UK assets and bought Euro when one Pound bought 1.6 Euro. Some time later I used many of those Euro to fund UK property purchases when one Euro was buying close to a Pound. Now I am about 70/30 Euro/Pound. Any which way it goes I can move either way. If the Pound continues to weaken I'll buy more Pounds and vice versa.
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Post by xyon100 on Mar 2, 2016 7:37:49 GMT
They also got £41k of the other one So, what is going on? - who is selling? After the initial SS tidy-up yesterday morning, there were many more BIG sells. Were these also SS? Did anyone try selling yesterday afternoon against one of these - did you queue behind or get put to the front? - who is buying? Are these genuine BH or more abusers? Any conspiracy theories out there? I suspect most of it is being put on by SS because it's not been paid for, though I obviously can't know for sure. I know one thing, and that is allowing people to register and then just grab a few hundred thousand in loans is unlikely to be sustainable. I think their plan of limiting purchases to no more than the current, paid for loans is a good one.
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Post by xyon100 on Mar 2, 2016 6:53:11 GMT
£217,000 picked up by Q**********N in one loan alone. Not the first time they have grabbed huge amounts. Wonder if it will get paid for?
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Post by xyon100 on Mar 2, 2016 6:08:49 GMT
Not much different this morning, though it's only just past 6am.
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