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Post by sanmiguel on Nov 8, 2017 18:41:25 GMT
hi
just a quick update, i have 2 fc accounts in order to take advantage of the bonus, i wish i had found this forum prior to investing as i read a lot of the advice on here after i had invested and chosen the autobid, (stable door horse gone etc), i was interested to read that the experienced investors never chose the autobid and made their own loan choices based on their personal experience, i noticed that they chose mostly d & e loans which i thought they were likely to default but after seeing my autobid loans defaulting i decided to use my second account to take more of a risk and choose them myself, i spent 2k on d & e loans admittedly it took a lot more time but i've just had my monthly update from fc and the autobid investment has performed at 4.4% with two more defaults and my choice performed at 11.6 with no defaults and i have no experience at all, i just looked at the profile of the companies and made a choice.
4.4% is rubbish, i get 4% on my help to isa with no risk at all, i get 3% on my 2 tesco accounts again no risk, i expected more from a peer 2 peer platform considering the risks involved.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 400 
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Post by brianlom1 on Nov 8, 2017 19:04:50 GMT
Oh there ARE other unsecured lenders (ReBS and Lending Crowd come to mind) but I wouldn't actually recommend them to anyone .. the unsecurity on both has so far proved outstanding, completely bullet proof when faced with attempts to reclaim owing money (borrowers having variously fled the country, turned out not to be themselves after all, gone bankrupt with no assets, or just plain declined to answer the phone). Personally I'd accept the lower rate at RS/AC (or even FC, if they can achieve it), or go play with fire at Ly/MT/ABLRate, (and others) where there is a smidgin of security, and the '12%' headline rates might yield you 8%+ at the end of the day, if you dodge all the more obvious bullets, and if the platform stands up through the next property crunch (they are almost all HEAVILY into property, because that's where all the securable assets are). Don't you think you're being a bit unfair referring to Ablrate as 'playing with fire'? They've had one default which they've pursued with vigour and kept lenders informed throughout. The vast majority of their loans offer good returns and prompt payment. Their Customer Service is second to none. I'd fully concur your description of ReBS (and have a hole in my bank balance to prove it).
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blender
Member of DD Central
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Post by blender on Nov 8, 2017 19:38:15 GMT
Quite so. I've been in the Albrate inferno for over two years, have received at least 12% pa, and not lost a penny yet. Now in the IFISA. It could all go wrong in future, but on many other platforms it has already gone wrong, and keeps going wrong.
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Post by GSV3MIaC on Nov 8, 2017 19:50:30 GMT
It is quite possible to 'play with fire' for years without getting badly burned ... some people make a living at it. While I agree ABL is relatively cool, as flames go, and my ISA is there too, it still needs watching, IMO, rather more so than 'pooled risk' products.
People borrow at 20% plus for a reason.
ReBS , LC, and SS looked pretty cool too, for the first few £m. Some folks still like all of them .. asbestos undies I guess.
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markr
Member of DD Central
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Post by markr on Nov 9, 2017 14:22:22 GMT
...the autobid investment has performed at 4.4% with two more defaults and my choice performed at 11.6 with no defaults I would add "yet" to the end of that. I think a significant proportion of the difference is simply the age of the accounts - your manual account hasn't had time to accumulate as many defaults yet. That said, it was clear that being able to manually choose loans and, perhaps more importantly, sell off to autobid users anything that showed signs of distress, offered a clear advantage over autobid users, which is why FC has chosen to become autobid only. From FC's own stats, 90% of well-diversified users achieve rates between about 5% and 9%. Autobid users will tend to be nearer the bottom, manual users nearer the top, but given other factors, autobid/manual perhaps accounts for 2-3% at most (it will be interesting to see how the 5%/95% lines come together in the new autobid only world). The stats also show your 4.4% is particularly unlucky (95% of users do considerably better than this) and your manual account particularly lucky (95% of users do considerably worse than this), which is why I think, given time, regression towards the mean would apply to both accounts. Unless of course, you are a diversity criminal, in which case all bets are off.
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Post by bikeman on Jan 16, 2018 21:04:06 GMT
grahamreeds , have you considered Assetz Capital? Returns not disimilar to the projected new autobid offerings on FC, and all loans are secured. Nothing like the same volume as FC, of course, but not too bad. My impression of Assetz is that they are a professional bunch. ... you are sadly mistaken p2pindependentforum.com/thread/11214/recommend-ac?page=4
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Post by sanmiguel on Jan 27, 2018 12:18:07 GMT
hi
i'm after a bit of advice from some more experienced members, an update from my post earlier, i have 10k invested with 350 loans, i now have 13 downgraded, a further 6 defaulted and 7 late accounts.
Earnings are £550, fees £60, losses £320, collected/repaid £4, total £170, since oct i have earnt an extra £60 but my losses have doubled and my rate has dropped to 4.3%.
i know investing is for the long term but does this look like an account worth keeping or ditching.
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