blender
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Post by blender on Sept 25, 2017 10:52:12 GMT
35 choose Balanced, 1 chooses Conservative. Opinion is divided.
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Post by peerlessperil on Sept 25, 2017 11:09:57 GMT
I think job done on this poll - will lock down at end of Sept 2017 unless there are any objections? People adding votes in a few months' time may have a different perspective.
For the record, I personally voted "run-off".
I may return in the future, but will treat FC in a similar manner to Ratesetter - a platform that a I use occasionally for platform diversification purposes, usually a short-term home for funds awaiting deployment elsewhere.
Many thanks to all who participated.
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Post by p2perrr on Sept 26, 2017 9:24:46 GMT
I chose Balanced because I'm too old and tired to try to get to grips with a new platform.
If Festering Chestnuts manage to get me anywhere near 7.5% net I'll be relatively content. (It IS net, isn't it?)
I miss the fun of the auction, and knowing that I have not one jot of financial acumen made it all the more thrilling.
Getting allocated £134 parts in property loans gives me an altogether different kind of thrill.
Still: wait and see seems to be the order of the day. If not looking good then I shall just have to transfer out and send Hubby on a round the world trip.
(Hmmm ... there could be benefits after all. Perfect peace v loss of excitement.)
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Sept 26, 2017 17:33:00 GMT
35 choose Balanced, 1 chooses Conservative. Opinion is divided. It's not often I find myself in the majority but so far the case here. Has the one Conservative voter come forward yet?
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Post by jeeves42 on Sept 28, 2017 11:59:54 GMT
I find it interesting that Funding Circle started off as a terrific platform a fantastic idea, but every change has been for the worse. This latest plan means it is no longer a "funding circle" it is basically a bank. Instead of being able to manage your portfolio of loans by choosing what you buy and what you sell now you can't choose either, but if the FC selected loan defaults we take the hit and not FC. I am leaving, at least in a bank your funds are guaranteed (as long as they are below the FSCS threshold) Now you have no security and no choice so there is no point.
I wonder if what they want is large institutional investors and want to get rid of the smaller investors. Certainly every action they have taken seems to suggest they want rid of us, so fair enough, I'm going.
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p2p2p
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Post by p2p2p on Sept 28, 2017 12:27:19 GMT
My mood is changing. Not having to do due diligence or read this forum will save me a lot of time, so I think FC will get any excess funds I can't find a good home for on FS or LL. As I get bored with p2p as a hobby, I think FC will be getting more of my money, not less.
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blender
Member of DD Central
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Post by blender on Sept 28, 2017 17:21:33 GMT
My mood is changing. Not having to do due diligence or read this forum will save me a lot of time, so I think FC will get any excess funds I can't find a good home for on FS or LL. As I get bored with p2p as a hobby, I think FC will be getting more of my money, not less. This is valid, but reading this forum is still a good idea, because with 97.5% of remainers here choosing 'balanced', there are strong indications that your 7.5% could be significantly less. The 'conservative' voter does not have to give reasons, but it would be interesting. My theory is that said voter thought it was an election, and always votes conservative.
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number5
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Post by number5 on Sept 28, 2017 17:29:40 GMT
I am really struggling on where to take my new funds! :-(
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Post by grahamreeds on Sept 29, 2017 5:41:53 GMT
Ditto.
I am leaving what I have in here and will continue to curate my loans as best I can but I am looking for a platform that is basically FC circa 2016.
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number5
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Post by number5 on Sept 29, 2017 6:46:52 GMT
As am I...my ideal would be property loans I can flip again.
The amount of defaults I had from my earlier more naive days on FC, is putting me off investing any more here.
I am considering going to the AC 30day for the time being...hmmm
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adrian77
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Post by adrian77 on Sept 29, 2017 8:52:22 GMT
Clearly FC have consistently changed their business model since the started and have annoyed most of us along the way by what they have done and the way that they did it.
I note FC now have a lot of corporate investment and these chappies aren't known for their altruism.
So what is next ? I would wager the "balanced" yield rate return won't be met and "a simpler fairer system to suit our needs" will be introduced and the two rates will merge into the "conservative" return. This rate would be much closer to other big players such as Zopa and I really don't see any evidence that FC are more efficient and able to deliver a higher return.
Also if FC dropped their target return rates I guess the monies realised on the SM would also decrease - the phrase "over a barrel" comes to mind.
However for at least the time being I am OUT (excepting defaulted loans).
If I were a FC director this interesting poll would worry me but FC only have themselves to blame.
Hang on it's Friday- so bring on this afternoon so we can Salsa and forget the clients baby!
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Post by jeeves42 on Sept 29, 2017 12:44:45 GMT
It is interesting that in the poll here (obviously not fully representative of the total FC lender base) over 80% of votes are basically saying I'm leaving. If I was running FC this would be a massive concern. As they are not taking any action to stop this lender bleed, it can only be assumed that this is exactly the outcome they were looking for.
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blender
Member of DD Central
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Post by blender on Sept 29, 2017 15:18:33 GMT
Getting rid of all those pesky trouble-makers? Mission accomplished!
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Post by df on Sept 30, 2017 2:17:50 GMT
As am I...my ideal would be property loans I can flip again. The amount of defaults I had from my earlier more naive days on FC, is putting me off investing any more here. I am considering going to the AC 30day for the time being...hmmm Good option to park your funds until better opportunity comes along. No cash drag (money invested immediately) and withdrawals are punctual (30 days to the exact minute of withdrawal request). Not affected by defaults as it is a basket of funds that fills the gaps in existing loans and has some reassurance from DPF. 4.25% is a fair return for the amount of risk.
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number5
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Post by number5 on Sept 30, 2017 6:29:56 GMT
Having said that, I have been drawn in by FS....loans are 6 months long, you can sell up in the first 5 months and receive the accrued interest. SM seems faily liquid at the right price.
Only negative so far is depositing funds takes a while. I deposited Friday evening and still no sign of funds.
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