huxs
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Lendy (L) in Administration
PBL55
Sept 2, 2015 16:17:35 GMT
Post by huxs on Sept 2, 2015 16:17:35 GMT
Agree this does not seem to have worked as it was explained in previous posts, I expected as a small player to get my full allocation not 1/3. Also I now have the bizarre scenario that I have a BAC deficit of £13.25 when the minimum deposit amount is £100 ??
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huxs
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Post by huxs on Aug 14, 2015 8:55:12 GMT
I am also a fan of Unbolted but they do seriously need to sort out their autobid algo, recently I have been assigned a number of very small parts of loans 61p, 62p etc: I know these where for small loans and they are trying to assign parts to all investors but that is just ridiculous. I would rather have misses out on these loans than have such small parts. I have raised this to them and they said they are looking into it but as far as I can see still happening.
The other concern I have with Unbolted is can they scale enough to be a viable business long term, I am sure the volumes needed to turn a profit are a large way from where they are now.
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huxs
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Post by huxs on Aug 13, 2015 9:40:21 GMT
I am still fairly new to P2P but for what its worth here's what I have noticed over the past 10months or so:
I have money lent through FC, SS, MT, FS, unbolted, Ablrate and emoneyUnion (as well as RS but will not cover as not secured but is still considered the safest due to PF).
FC has a good steady stream of Property loans with a base rate of 8-10% but are currently topped up with Cash back of 1-2% but you do need to remember FC charge a 1% fee. So in general I am only investing here while waiting for other sites to have available loans and look to flip the loans to gain most from the cash back.
SS slow and steady loan delivery, so far very happy with how they handle problems with loans and extensions, but the best points of SS are the very simple website and the efficient SM. As a diversity freak I am in pretty much all of the SS loans but only to a maximum of 1% of my total P2P money. Also the upcoming change to a trust structure will provide added confidence in SS. Only downside becoming very popular and beating everyone else to the loan is getting harder and harder.
MT, Still a new business, limited Property, mostly Pawn with 1 big partner 'Cash Shop'. The communication and interaction is second to none would happily recommend. Saying that I have currently reached my limit on how much I want to lend in CS loans so probably going to be limiting my investing here until either more MT originated loans appear or new partners signed up.
FS, Increasing amount of property loans appearing and generally happy with FS, you have to remember that defaults are part of the course for Pawn loans the important thing is not how many defaults there are but how many actually result in loses. From what I have seen FS are so far doing a very good job of ensuring funds are recovered (both capital and interest) I am not saying there will not be loses but that is part of the risk and needs to be expected.
unbolted, is yet again pure pawn, currently pretty small volumes and while I like the site and how it works (very hands free) I am a little concerned that they will struggle to make a sufficient profit to survive long term.
emoneyUnion, yet again a small player, is currently mainly PG loans backs by a good sized PF only a couple of properties in the past month I think. It is another hands free site which is a big bonus but as with unbolted I do wonder if it is going to make enough money to keep going long term.
lastly ablrate, I have had big hopes for Ablrate, I put the communication and interaction up with MT and they do seem to be a company that genuinely wants to work with Investors (as can be seen by Andy's comments in this thread). The only problem has been deal volume (which they are promising movement on) this really needs to increase soon (but hopefully not for the next 2 week when I am on Holiday) as a lot of investors are losing patience and as I think has been mentioned many times one of the biggest risks to a platform is investor flight (and I am not talking about a big flying bus:-) .
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huxs
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Post by huxs on Jul 17, 2015 11:00:58 GMT
That's good to hear thanks
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huxs
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Post by huxs on Jul 17, 2015 8:35:41 GMT
Hi emoney, An interesting article on the BCC website this morning, www.bbc.co.uk/news/business-33555764 I assume you provide the guarantor of loans a fair bit of information and your loans aren't going to get caught up in any FCA crack down.
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huxs
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Post by huxs on Jul 13, 2015 8:31:01 GMT
Hi, Thanks for confirming that, I have one more question.
That majority of other P2P sites provide you with the ability to view loan details, normally including valuation documents etc Is this something you are planning on doing, I guess this is not required for the loans to individuals but now you seem to be taking on more property deals I think this would be a very handy feature and provide a bit more comfort to investors.
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huxs
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Post by huxs on Jul 10, 2015 8:14:30 GMT
Hi,
I know that this loan has closed but I have a general question on the LTV's quoted on second charge loans, do these LTV figure cover all loans on the property or just the one we are financing?
A 4% LTV is great but if the primary charge loan is for 95% then that is a very different situation.
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huxs
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Post by huxs on Jul 9, 2015 10:28:06 GMT
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huxs
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Likes: 218
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Post by huxs on Jul 9, 2015 9:49:10 GMT
Hi, Given that I have drip fed money in and now out of FC is there any simple way to check total in, total out and interest rather than having to walk through 10months of statements? While I am slowly moving out of FC it would be good know that what I finally end up with is correct.
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huxs
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General P2x Discussion
P2P ISA
Jul 8, 2015 14:19:48 GMT
Post by huxs on Jul 8, 2015 14:19:48 GMT
So its seems like todays budget have given the green light for a P2P ISA from Apr 16 but what does that mean.
Does anyone have any ideas how this will work ?
I currently actively use 8 P2P platforms (probably going down to 6 long term) how / will a P2P ISA allow me to still spread my lending across multiple platforms (and allow me to move funds between them) to ensure platform and loan Diversity?
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huxs
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Post by huxs on Jul 1, 2015 10:49:14 GMT
Hi,
This sounds like a sensible loan to me and one I would investing.
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huxs
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Post by huxs on Jun 26, 2015 11:32:31 GMT
Hi emoney,
Being fairly new to eMoneyUnion I have a question around these sort of bridging loans. What happens if this loan is not fully filled ? This specific one has been open for coming up to a week and looks like it has reached the level at which each individual lender is happy to invest and without new investors coming onto the platform my guess is that it will not fill (at least not quickly).
Thks
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huxs
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Post by huxs on Jun 5, 2015 9:13:45 GMT
My experiences has been hit and miss, sometime I get a reply other times don't, but the problem is always resolved quickly. In general SS could improve there communication but what I have seen of how they handle loans (which is the most important thing) seems impressive. As a future enhancement to the platform having an online chat would be a great new feature. Other sites have this and I find it very helpful and I am sure would remove some noise from this forum.
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huxs
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Post by huxs on Jun 1, 2015 8:37:02 GMT
Saying all of that today is the first Monday of the month when you would expect rates to be low, it is instead sitting at 6.6 / 6.7 Not that I am complaining of course
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huxs
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Lendy (L) in Administration
PBL34
May 28, 2015 8:43:16 GMT
Post by huxs on May 28, 2015 8:43:16 GMT
I'm seeing mistakes, sloppiness and errors all over the P2P world and then companies enter denial mode in the Q&A forums. SS goes up in my estimation by so quickly dealing with this and paying us interest as well. For me this increases my confidence in SS as others are making mistakes and not correcting them Jack P Agreed, errors / problems happen and should be expected in such a new industry (and is partly why we get such a good return). What is important is how the company fixes those errors and IMO SS has handled this well. On the other hand if this sort of thing keeps happening then that's when it will be more of a problem.
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