rogerthat
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Post by rogerthat on Feb 14, 2018 20:50:27 GMT
This looks like a good loan to me ... annoyingly I forgot to click the reinvest button in time  I thought it would go quickly, but it seems not. Unless you're a serial offender and you say please and thank you...online chat are usually most helpful..as the loan isn't yet 50% full they may well oblige..failing that have you got enough funds to repeat the bids...and probably wait another day or two for the return of the originals...Interest on the original tranche was paid out earlier this evening...loasda money 
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daveb4
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Post by daveb4 on Feb 14, 2018 20:57:38 GMT
Rather than reinvest if you have ISA buy on secondary market at discount?
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rogerthat
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Post by rogerthat on Feb 14, 2018 21:15:51 GMT
Rather than reinvest if you have ISA buy on secondary market at discount? Yes..I forgot that option though by the number of the posts the poster has currently made, it may be that he or she is unaware of certain hazards of the SM in buying and indeed re-selling or has insufficient funds to tie themselves over till the original capital is repaid but valid point nonetheless. Current best rate 15.28% BUT only 35 days left !..I certainly wouldn't buy anything currently on SM..either as a tax payer or through an ISA
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daveb4
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Post by daveb4 on Feb 15, 2018 7:19:19 GMT
Rather than reinvest if you have ISA buy on secondary market at discount? Yes..I forgot that option though by the number of the posts the poster has currently made, it may be that he or she is unaware of certain hazards of the SM in buying and indeed re-selling or has insufficient funds to tie themselves over till the original capital is repaid but valid point nonetheless. Current best rate 15.28% BUT only 35 days left !..I certainly wouldn't buy anything currently on SM..either as a tax payer or through an ISA Yep secondary market not as exciting as it used to be, mainly same old loans being regurgitated and anything decent rarely ends up on it at a discount. I do however look at new loans, see the update and sometimes there are some reasonable deals on SM for that loan (eg people selling for tax reasons) and more specifically sometimes 30-90 days I am happy to buy but not 6 months. Some developments work quite well with this strategy (so far). Also be aware of secondary market over next few months possibly lots of selling for tax reasons (hopefully!).
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rambler
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Post by rambler on Feb 15, 2018 8:55:17 GMT
Rather than reinvest if you have ISA buy on secondary market at discount? Thanks for this. I already had this in mind as it is indeed an ISA. My funds from the previous loan came through and I found a good deal for a tranche of the same loan on the SM.
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aj
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Post by aj on Feb 15, 2018 9:22:24 GMT
Annoyingly that -0.6% chunk went up for sale just after I bought a load at -0.4% If only the chunks you buy on the secondary market got combined on renewal I would use the reinvest feature as I would qualify for bonus rates. It would also mean my account wasn't chock-a-block with scratty little bits of loans as well! |
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rambler
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Post by rambler on Feb 15, 2018 16:01:48 GMT
... If only the chunks you buy on the secondary market got combined on renewal ... I'll second that 
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Post by routlep on Feb 15, 2018 16:51:12 GMT
Thirded! FS please listen..
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rogerthat
Member of DD Central
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Post by rogerthat on Feb 15, 2018 19:44:55 GMT
Yes..I forgot that option though by the number of the posts the poster has currently made, it may be that he or she is unaware of certain hazards of the SM in buying and indeed re-selling or has insufficient funds to tie themselves over till the original capital is repaid but valid point nonetheless. Current best rate 15.28% BUT only 35 days left !..I certainly wouldn't buy anything currently on SM..either as a tax payer or through an ISA Yep secondary market not as exciting as it used to be, mainly same old loans being regurgitated and anything decent rarely ends up on it at a discount. I do however look at new loans, see the update and sometimes there are some reasonable deals on SM for that loan (eg people selling for tax reasons) and more specifically sometimes 30-90 days I am happy to buy but not 6 months. Some developments work quite well with this strategy (so far). Also be aware of secondary market over next few months possibly lots of selling for tax reasons (hopefully!). 10-4 on all that 
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mikes1531
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Post by mikes1531 on Feb 21, 2018 23:31:58 GMT
If only the chunks you buy on the secondary market got combined on renewal I would use the reinvest feature as I would qualify for bonus rates. : Even though a collection of small parts purchased on the SM doesn't get consolidated if renewed, that doesn't affect qualification for bonus rates. AIUI, those bonus rates depend only on the total amount invested when a loan goes live. Ten £1k parts would qualify for the same bonus as a single £10k part. Feel free to ask FS directly to confirm that.
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Post by nomnom on Feb 21, 2018 23:51:41 GMT
... If only the chunks you buy on the secondary market got combined on renewal ... I'll second that I prefer having more than one chunk in a loan, as it gives me the option to renew a partial amount of my investment (say half). A single chunk is an all or nothing renewal.
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woodland
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Post by woodland on Feb 28, 2018 9:39:05 GMT
This is gonna take forever to fill at this rate. May be FS need to offer cash back or something? Can understand why they repaid the original loan early or else someone would be paying interest to the lenders twice over!
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SteveT
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Post by SteveT on Feb 28, 2018 9:50:19 GMT
This is gonna take forever to fill at this rate. May be FS need to offer cash back or something? Can understand why they repaid the original loan early or else someone would be paying interest to the lenders twice over! It’s already filled, by one or more underwriters. That’s how the previous loan was repaid. The availability you see is simply underwriter holdings offered for sale to retail lenders. It makes little odds how long it takes to sell through.
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mikeymike
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Post by mikeymike on Feb 28, 2018 11:25:07 GMT
This is gonna take forever to fill at this rate. May be FS need to offer cash back or something? Can understand why they repaid the original loan early or else someone would be paying interest to the lenders twice over! It’s already filled, by one or more underwriters. That’s how the previous loan was repaid. The availability you see is simply underwriter holdings offered for sale to retail lenders. It makes little odds how long it takes to sell through. Does this always happen or just on some loans? How is it decided? The learning curves are getting the better of me.
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SteveT
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Post by SteveT on Feb 28, 2018 11:47:12 GMT
It’s already filled, by one or more underwriters. That’s how the previous loan was repaid. The availability you see is simply underwriter holdings offered for sale to retail lenders. It makes little odds how long it takes to sell through. Does this always happen or just on some loans? How is it decided? The learning curves are getting the better of me. FCA rules prevent approved P2P platforms from funding their own loans these days so, by definition, any renewal loan that's still "filling" after the previous loan has been repaid must have been covered by underwriter funds. Quite who FS use for their underwriting, and how much they get paid for taking on the risk, I don't know.
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