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Post by GSV3MIaC on Oct 6, 2017 15:40:04 GMT
I see today's email (yeah, I still gets them) invites me to fill in a survey to tell them whether/how much ISA money they can expect to be getting from me this year, and next.
Clearly I am expected to have a better crystal ball than their own murky horror, which they use for inspecting the future business prospects of the borrowers.
I told them it was a round number .. with or without a slash through.
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james21
Member of DD Central
Posts: 651 
Likes: 669
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Post by james21 on Oct 6, 2017 16:52:17 GMT
I selected the "survey" first question do you intend to use the ISA?, answered no, thats the end of the survey if you answer no. Good old FC!
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Oct 6, 2017 17:04:07 GMT
I did the survey on the basis that I may use the ISA next year and they might offer something acceptable. 7.5% after tax with no work and good liquidity is worth considering. If they think it is a firm commitment, they are wrong.
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Post by den on Oct 6, 2017 17:22:42 GMT
Your September 2017 summary
On 30th September
5.7%*
Your average return after fees and bad debts
0
Number of businesses you're lending to
0
Loan(s) defaulted in the last month, which is 0.00%* of your portfolio
I'm getting 5.7% on zero commitment... can't beat that....
Oh. I've just worked out zero*5.7% on my calculator...
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agent69
Member of DD Central
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Post by agent69 on Oct 6, 2017 18:25:50 GMT
7.5% after tax with no work and good liquidity is worth considering. Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Anyone know when the ISA might launch?
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james21
Member of DD Central
Posts: 651
Likes: 669
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Post by james21 on Oct 6, 2017 18:33:03 GMT
7.5% after tax with no work and good liquidity is worth considering. Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Anyone know when the ISA might launch? you can beat that very easily
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Oct 6, 2017 18:33:51 GMT
7.5% after tax with no work and good liquidity is worth considering. Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Anyone know when the ISA might launch? I think that is what they are wanting to decide.
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agent69
Member of DD Central
Posts: 6,044
Likes: 4,437
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Post by agent69 on Oct 6, 2017 19:01:47 GMT
Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Anyone know when the ISA might launch? you can beat that very easily Beat what very easily?
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fasty
Member of DD Central
Posts: 1,038
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Post by fasty on Oct 6, 2017 19:42:36 GMT
7.5% after tax with no work and good liquidity is worth considering. Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Anyone know when the ISA might launch? About 3 years ago if I remember their promises correctly...
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james21
Member of DD Central
Posts: 651
Likes: 669
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Post by james21 on Oct 6, 2017 20:31:15 GMT
put a coin into the one arm bandit; pull the handle and 3 lemons come up; zoppa, funding circle and rate setter
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Post by thunderchild on Oct 7, 2017 9:36:55 GMT
I'm not hanging about to see the mess they will make of the ISA, yes they have talked about it forever and a day, but then they only remember what they want to remember and now they control your money not you.......
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Oct 7, 2017 14:14:15 GMT
I selected the "survey" first question do you intend to use the ISA?, answered no, thats the end of the survey if you answer no. Good old FC! I couldn't believe it but it's true. Shortest survey I have ever taken part in!
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Oct 7, 2017 14:19:24 GMT
7.5% after tax with no work and good liquidity is worth considering. Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Things are never that simple. Getting businesses to pay back what they owe can be an entirely different matter. Proceed with caution.
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blender
Member of DD Central
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Post by blender on Oct 7, 2017 14:55:44 GMT
Not sure of the problem coogaruk. The 7.5% is the FC prediction for 'balanced' after fees and losses. They could be wrong but they have had a bit of experience. ( Your 'antagonist' role perhaps. Rather like the Monty Python 'argument' service?)
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agent69
Member of DD Central
Posts: 6,044
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Post by agent69 on Oct 7, 2017 15:26:02 GMT
Couldn't agree more. For all their past faults, getting business through the door has never been a problem. Getting businesses to pay back what they owe can be an entirely different matter. Which is a problem that affects all platforms. FC have been around longer than virtually anyone else (I was a member when they had a pole asking when will we get to £100m lent). I don't have confidence in their loans, but I do have confidence in them knowing what the defaults will knock off the headline rate. I don't think 7.5% is unrealistic if your maximum exposure to any given loan is 0.5%, and I think that is reasonable value for an invest and forget account.
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