upland
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Post by upland on Jan 12, 2020 10:20:47 GMT
For me :-
Assetz 21%
LendingWorks 14%
Ratesetter 14%
Zopa 14%
Lendinvest 10%
FundingCircle 8% (reducing)
Kuflink 4%
Octopus 4%
Residual 11% (MT,Abl,Coll,Unb,FS,Lendy all "reducing")
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upland
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Post by upland on Jan 1, 2020 13:13:06 GMT
Whereas I agree with the opinion, there is still the question: does FC default loans quicker now? schomosport seem to suggest that. I believe their recent problem has been lack of liquidity on the retail investor side (which they are purposely shrinking, but still need some liquidity at least). It makes sense for them to mark as much as possible as defaulted as they can then hand it over to third party agencies and lock in an immediate ceiling on how much time and effort they will put into recovery, rather than have their own people endlessly chasing wild geese. The T&Cs state that when something is marked as defaulted they can give it to an agency and charge up to a max. of 40% of the amount recovered for third party fees. Therefore the quicker they get things defaulted, the quicker they stop running up costs on their own account, and the quicker they transfer those costs onto you. I know what I would do if I was struggling to get my business to show a profit..... Have FC put much out to third party recovery specialists ?
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upland
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Post by upland on Dec 31, 2019 7:52:53 GMT
Generally my experience has been acceptable. Illiquid loans (money you cannot withdraw at once) exceeds yearly income but they seem to sort the problems out in the longer term. The assets underlying I feel should be well valued (unlike some other p2ps that could not do that).
I cannot see any pattern as to the size of loan and LTV , I suspect that my larger loans are a result of large loans at the time and these will not be 3 bed semis but a more complicated arrangement. I am not overly concerned its just that I would be happier if the loans were closer in size. I am not sure that I want to be the first one to be told that "that has never happen before". In a lifetime of investment it amazes me still how the unexpected often appears to inconvenience me again !
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upland
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Post by upland on Dec 31, 2019 7:37:14 GMT
I too have noticed that defaults this month are much higher than normal and am watching the situation with concern hoping it does not progress that way.
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upland
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Post by upland on Dec 29, 2019 8:51:05 GMT
I have had an account since the early days and OC has been reliable. I periodically review my p2p accounts with a view as to whether I should increase or reduce. The question of diversification here is quite large in my mind. In the early days with fewer loans available it could be bad. Some of the customer support was a little too gung ho about things I thought. Generally I like the setup and think Octopus is a firm with gravitas worth backing.
I still however have a few loans that are several times my average loan size which causes me discomfort as if one of these gets into problems its equivalent to 3% of the portfolio not performing which could put a dent in these (lowish) returns. I am surprised after these years that it is still there. I have about 250 loans now.
I notice that some of the actual loan sizes are larger meaning that the properties are unlikely to be 3 bed semis and possibly less liquid. Some of the terms are three years or so which is longer that I thought they would be. I also wonder about whether there is any internal connection between loans that may in effect be compromising the diversification. I have been topping up monthly in the hope that the diversification improves. I dont think that I would put a large lump sum in anymore which is a shame as I probably would if I didnt think it would all appear in one loan.
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upland
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Post by upland on Dec 25, 2019 7:31:26 GMT
If we are lucky enough to have some of our money returned does anyone have any idea as to whether we could get anything to help tidy up the tax position ? HMRC are still to get back to me 10 months after my initial query. I am in no hurry to hear from HMRC. Its whether the administrators will issue anything that can be used to clear up the position - does anybody know much about this area ?
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upland
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Post by upland on Dec 24, 2019 7:10:31 GMT
If we are lucky enough to have some of our money returned does anyone have any idea as to whether we could get anything to help tidy up the tax position ?
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upland
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Post by upland on Dec 16, 2019 15:29:03 GMT
I got the same words too :-
"I am pleased to confirm that you are not required to part take in the quiz as you have been investing on the platform for more than 12 months. "
Maybe they realise the older investors are pulling out ?
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 11, 2019 7:34:54 GMT
I have had to do several but noticed that LW was like FC without one. I asked LW and they said that as I had made at least two transfers to them in the last two years that I was a regarded as a sophisticated investor. Perhaps FC thinks that we are also sophisticated investors.
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 10, 2019 7:07:44 GMT
For some time I have been concerned about the defaults and keep a sporadic log. The recoveries make little difference and I think that I have recently made almost no income.
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 8, 2019 12:55:59 GMT
HI ablrate A quick Question. For HNW this is the text you have: High Net Worth I have an annual income (not including pension income) of £100,000 or more AND investable assets of £250,000 (not including primary residence or pension assets).Is the "AND" correct, as all the other sites i've done this test for use "OR" rather than "AND" for HNW. If you can confirm before i do the test.Ditto , have to change mine back now they have fixed it. They are not the only ones that put the definitions on their website without reading them first.
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 6, 2019 9:35:13 GMT
What a shame , I liked MT but things have changed in the p2p environment this last year.
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upland
Member of DD Central
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Likes: 175
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Post by upland on Dec 4, 2019 10:17:43 GMT
I cannot get in too , giving up.
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 3, 2019 19:14:35 GMT
I only got 4p in November and I seem to have an ISA which I was unaware of.
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upland
Member of DD Central
Posts: 478
Likes: 175
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Post by upland on Dec 2, 2019 18:33:39 GMT
Looks like its in bits to me with some of the totals not agreeing on different pages and with the old website.
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