pom
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Post by pom on Oct 17, 2016 12:47:47 GMT
I just compared the amount on sale on my remaining loans to where it was a couple of weeks ago, and SM availability does appear to be dropping (down by a couple of %) so assuming a lot of people are all selling out now, there's also clearly a fair few new folk investing. Must be the bonus offer. I sold a couple more last Friday. Less than £500 left but the way things are going I'm not confident of getting too much back. Will be happy to get out with a profit. You're still feeling optimistic then ?
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pom
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Post by pom on Oct 17, 2016 12:46:52 GMT
I noticed it earlier too... but to be honest am past caring
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pom
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Post by pom on Oct 17, 2016 12:45:19 GMT
I suspect LI may not like lending against the borrower's own home either, which at least a few of the BC properties are.
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pom
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Post by pom on Oct 17, 2016 10:41:33 GMT
I just compared the amount on sale on my remaining loans to where it was a couple of weeks ago, and SM availability does appear to be dropping (down by a couple of %) so assuming a lot of people are all selling out now, there's also clearly a fair few new folk investing.
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pom
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Post by pom on Oct 17, 2016 8:23:24 GMT
Gahh - I'm down to shrapnel on this one fortunately but still does not bode well..
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pom
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Post by pom on Oct 16, 2016 13:44:26 GMT
And for this reason I am out. Yesterday Steerpike mentioned in another thread about moving funds to BC. So I thought I would investigate further... I read BC's FAQ and all looked good so right away I checked this amazing forum. First thread I read happens to be about the secondary market and basically BC does not appear to do what they say on the tin. Sadly to me there seems no point going further if I can not rely on the website's information to be correct. This is not slightly misleading information but grossly inaccurate. For once, I do think we need more government oversight if things like this are allowed to perpetuate. Fortunately, I did not bother to sign up. Thank you greenwood2 and pom for your assistance. No I guess it's not good if that's all the info newbies have to go on (I don't know if Louis still has a discussion with all new investors)... but it's basically because they've only recently switched from a totally manual operation to a website, and the transition is clearly proving a bit trickier/clunkier than anticipated. Loans themselves are good tho (better than SS in my view so I don't mind the lock in so much), and while you can end up tied up longer than you'd think, so far they seem to have been doing a pretty good job with the problem loans.
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pom
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Post by pom on Oct 16, 2016 13:35:26 GMT
Would assume he means sold rather than repaid... in which case I probably hate him more
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pom
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Post by pom on Oct 16, 2016 13:33:11 GMT
The one 3rd from bottom claiming to be %age across diff sites doesn't seem right...
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pom
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Post by pom on Oct 16, 2016 11:09:42 GMT
pom Have you sold anything in the last week? My last sale was on 7th October. £12.18 of one loan part (not even all of it damn it!) on the 13th, otherwise nothing since the 5th
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pom
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Post by pom on Oct 16, 2016 9:53:43 GMT
ALL loans? Hell no. Some 11% or lower? Hopefully, as the deal flow really seems to have been drying up recently, but only if there's good evidence that they're likely to be worth it. I like SS but the money I have invested there is less than 25% of my 12%+ money and (rightly or wrongly) it's the SS loans I feel least confident about.
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pom
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Post by pom on Oct 16, 2016 9:23:31 GMT
Doesn't look good that's for sure.... luckily I only have shrapnel as mine sold a few days before the payment was due!
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pom
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Post by pom on Oct 16, 2016 9:20:55 GMT
It certainly seems to be being handled very professionally and with as much urgency as it's possible to instill into the courts (not much, by the sounds of it!) Legal folks do like to slow things down...but given how promptly ABL kicked off proceedings and how aggressively they've been chasing it I wouldn't be at all surprised if these get resolved before I see a penny from my defaults on FS (should have repaid at xmas) and FC (from a default over a year ago)
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pom
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Post by pom on Oct 15, 2016 10:41:40 GMT
admittedly I did get less than I'd have liked in both these loans....but my earnings have still outstripped what I would have liked to invest by more than 1.5x. We have to expect a few bumps in the road if we chase high rates Never have I been so grateful to receive such limited allocations. I'm heavily overweight in Ablrate, about 35% of my funds. Mostly due to the lack of maximum bids and near constant availability of my favoured loans in the secondary market (many of which I buy at a small premium to remain 100% invested). I'm especially fond of the few amortising loans on the platform. Well hindsight is great isn't it?! Yet at the time there were lots of complaints about people gaming the system to get a higher allocation. I like the amortising from a loan perspective but not so much from a tax perspective as I have to report all chargeable asset sales, and every capital repayment counts. Hurrah for spreadsheets.
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pom
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Post by pom on Oct 15, 2016 9:20:59 GMT
Interestingly even tho it's now hidden away, people are still investing in it! But at least now there is less excuse for not realising it's different....unless it's because it's being offered as an alternative when you withdraw, in which case being on a separate tab will be less useful.
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pom
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Post by pom on Oct 15, 2016 8:54:42 GMT
Ablrate do often have really interesting and different loans. Whilst this gives the opportunity to diverse into a different platform and esoteric securities, unfortunately the downside so far (for me) has been that one of those less usual securities (shipping containers) has not as of yet been quite as secure as we would have hoped. Anyone with any sort of significant exposure to the two loans relating to them is probably in negative territory in terms of return from ablrate until (we hope) a recovery is made. Only if they went really overboard and asked for way more than was sensible compared to the rest of their portfolio as (fortunately?) by the time these two loans came along demand was such that allocations were severely limited anyway (one has to suspect that a lot of the investors in the later loans just saw the rate and the popularity and maybe didn't think so clearly about it in the rush). From my perspective anyway my total earnings on the platform is about 3x what is tied up in those loans - now admittedly my total ABL investments has grown quite a bit since those two were launched (but that didn't happen overnight - and it's reasonable to expect most other people have been increasing their holdings also) Edit and admittedly I did get less than I'd have liked in both these loans....but my earnings have still outstripped what I would have liked to invest by more than 1.5x. We have to expect a few bumps in the road if we chase high rates
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