“Bull markets are born on pessimism, grown on scepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” – Sir John Templeton
You might be surprised to hear that there is still life out here on the LC sub board ! As far as I can see there are a few unhappy investors who have pulled out and are waiting for any sign of defaulted loan recoveries from previous years. On the other hand the loan pipeline has become quite regular ( 5 a week ?) and some of us ( well me anyway) are picking and choosing on the PM as best we can, and normally getting good rates ( typically > 10%) + a recent £150 bonus . I have not got any late payments yet although I am relatively new , but the last time I looked at the whole loan book , there are no loans in arrears for those originating in 2017 ( although two for December 2016). Probably the defaults come like London buses....
I'm busy pulling out from the ISA, but it seems to have stuck selling out at half my investment. I've emailed and it seems to be a tech problem. One of my loans has gone into arrears, over 5 months late, only know as I downloaded the csv file. You don't get any notification as the ISA is a blackbox investment. Still in the self-select, after popping in £2500 for the £150 cashback. At least I can choose, so nobody's fault but mine.
You can have the Self Select Account in an IFISA as well. I avoid black box accounts, apart from the easy access one with AC Anyway back to LC , the black box account only pays 6%, whilst around 12 % is possible on the PM: minus losses and the 1 % fee .