markr
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Post by markr on Jan 14, 2014 22:29:06 GMT
Anyone from FC reading this forum? Probably. Anyone from FC give a S**t H**se about our opinion? Probably not.
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markr
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Post by markr on Jan 14, 2014 14:42:53 GMT
Nope, S*** H**** made one repayment* Nope, S**t H**se th* n**t c*****r didn't make any. It's still lurking in my rogues gallery showing my £40.00 exposure and "defaulted" for all the payments. Although, since FC gave us our money back my exposure is really nothing; this is still my single biggest "recovery". Granted, they had a previous loan which was repaying prior to this one, so S**t H**se as a company made repayments.
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markr
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Post by markr on Jan 14, 2014 12:26:18 GMT
and lenders usually drop more money in when the markets rise.. Guilty, I hope it gets to my account before the current spike falls off again (if not I may put it in the 3 year market). I moved my "hopeful" 5.9% offers down to 5.7% to get them away and I have some small "possible" offers at 5.8% that have been there since October(!) so it looks like 5.7% is where the market is for now.
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markr
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Post by markr on Jan 14, 2014 12:10:56 GMT
First time in my long memory that FC has had a complete non-starter. Surely your memory is long enough to remember S**t H**se??
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markr
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Post by markr on Dec 30, 2013 22:44:22 GMT
I have a 1-2-3 Account, and pay the minimum monthly deposit as a standing order from my main First Direct account, so there's no need for it to be a salary as such. I can't remember the minimum number of DDs required, but I moved all the ones that paid cashback to it, and the cashback more than covers the £2/month fee. It pays 3% if you keep the balance over £3000 in credit, but only pays interest on balances up to £20000.
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markr
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Post by markr on Dec 5, 2013 12:21:10 GMT
A minor point, but from our point of view as lenders wouldn't the percentages be AERs not APRs. Yes I know this changes nothing in the calculations or conclusions but no forum is complete without an injection of pedantry.
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markr
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Post by markr on Dec 2, 2013 15:00:09 GMT
I think you have been quite lucky, oldgrumpy, so far my losses have cost about 12.5% of interest earned, but so far the losses amount to less than the cashback I earned in those heady days of flipping so if I consider the cashback as a sort of provision fund, I've lost nothing.
Back to the recoveries question, maybe one reason recoveries appear so poor is because some severely crippled loans which should have probably been through the default/recovery path have been left limping along as "downgraded". Some of these (e.g. 1017 which is performing like a broken down train, 104 days late on half payments from the guarantor long after the company has gone) look like a default and quack like a default. So, generally it seems, FC don't default a loan until it is already clear that the guarantor isn't going to play ball, which I guess improves their bad debt statistics but worsens their recovery statistics.
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markr
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Post by markr on Dec 1, 2013 21:10:40 GMT
I stand to be corrected but I understand it is automatic after you have actually invested £10k plus not simply parked it at AC. So initially you may still be part of the 'scrum' until you get the 10k invested. Thanks. Hmm, that leads to a bit of a chicken-and-egg situation. I'm struggling to get even a modest amount lent out because I miss so many auctions so to get 10k lent out is going to be tricky. But it looks like the gold membership is changing anyway so hopefully I'll be able to get parts in more loans.
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markr
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Post by markr on Nov 27, 2013 21:01:49 GMT
Hi all
There's been some talk on the thread about secondary market premiums of gold membership. I can't find anything about this on the Assetz Capital website so can someone confirm how it works. Is anyone who deposits £10000 automatically in it? It seems one perk of membership is getting in early on auctions but is there any other benefits? I'm currently a toe-in-the-water investor in Assetz but want to increase my investment so may look to getting £10k in there if I can.
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markr
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Forum Feedback
Made it
Nov 13, 2013 15:23:52 GMT
Post by markr on Nov 13, 2013 15:23:52 GMT
Sorry I'm late, hope I haven't missed anything.
I'd like to add my thanks to the previous forum admin and to Andrew for setting up this one. Personal circumstances and a general lack of interest in FC meant I hadn't posted much lately but I was a fairly prolific poster in the early days, and got 2 referral bonuses as a result of posts on the old forum!
As some others have said, Assetz Capital is a small part of my P2P investments at the moment but I can see that growing!
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