marka
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Post by marka on Oct 29, 2017 12:32:06 GMT
I've previously avoided FS - in part due to the negative sentiment on here, but have now decided to dip a toe in and see for myself simply because I want to add another platform for diversification. I'm still trying to figure out the mechanics of this particular platform and was wondering if there was any pattern to the introduction of new loans, or any way of getting prior notice of them if not (given that the "new loans" thread on here doesn't seem to be used any more and I can't see any sort of "pipeline listing" on FS itself).
Thanks
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SteveT
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Post by SteveT on Oct 29, 2017 12:35:04 GMT
I've previously avoided FS - in part due to the negative sentiment on here, but have now decided to dip a toe in and see for myself simply because I want to add another platform for diversification. I'm still trying to figure out the mechanics of this particular platform and was wondering if there was any pattern to the introduction of new loans, or any way of getting prior notice of them if not (given that the "new loans" thread on here doesn't seem to be used any more and I can't see any sort of "pipeline listing" on FS itself). Thanks Once you've registered, you will receive an email in advance of each new loan launch.
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marka
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Post by marka on Oct 29, 2017 12:37:25 GMT
Thanks Steve. I registered yesterday.
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Post by mrclondon on Oct 29, 2017 12:51:33 GMT
There are typically between 2 and 4 new loans a month at present (the pipeline is shown as the bottom section of the "Available investments" webpage), plus given all loans are for a strict six month term, there are typically between 4 and 8 loan renewals every week (these are added to the pipeline section to allow preview sometimes only a few hours before going live, but frequently appear the day before). It will be obvious from the context of most loans that the debt will be required for more than 6 months, the FS model is in effect for interest + fees to be paid six monthly in arrears. As SteveT said all new / renewal loans are announced by email, but the subject line can occiasonaly be wrong ( "New loan coming tomorrow" may actually be "New loan coming in 30 minutes" ! ) If there are to be any bid restrictions (for first 24 hours) they will be mentioned in the email. Also worth noting FS operations are not limited to office hours, so you'll frequently receive emails late evening advising of loans going live the next day. Availability on the renewal loans can vary wildly, and FS have a policy of variability in setting bid restrictions to allow big lenders an occaisonal decent bite at the pie, so FFF is often required at the point the loan goes live. |
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Liz
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Post by Liz on Oct 29, 2017 12:54:48 GMT
Also worth checking out the SM, especially if you are investing in an ISA, but make sure you read about the tax implications before buying
There are some very recent loans for sale at around par, so worth a look.
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marka
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Post by marka on Oct 29, 2017 13:12:07 GMT
Thanks mrclondon/Nobody
I hadn't scrolled down on the Available investments page - doh!
I have had a little dabble on the SM just to get myself started, but given the tax implications (I'm in the ABL IFISA this year), I don't think I'll be buying on there very often.
As with all platforms, I'm sure I'll get up to speed with FS's idiosyncrasies soon enough.
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Post by mrclondon on Oct 29, 2017 13:28:44 GMT
On reflection I've realised there is another category of loan, new additional development tranches to existing loans, with several appearing each month. These need a bit of thought as some may be effective 2nd or 3rd charges behind earlier FS loans, so read the description carefully.
For loans with multiple tranches I keep a spreadsheet updated so I can see my exposure to the borrower, and the split between effective 1st/2nd/3rd/nth charges within the loan.
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