peteuk
Member of DD Central
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Post by peteuk on Jan 16, 2018 23:18:18 GMT
Been reducing now for six months from 16000 to under four, but it has slowed right down rishdon still on the books along with a few more hows everyone else doing!
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chunkie
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Post by chunkie on Jan 17, 2018 1:46:54 GMT
Everything I had that I was "allowed" to sell I did so at the maximum 1% discount; it all went in a few hours. All I'm left with are a few out-of-term loans.
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Post by bluechip on Jan 17, 2018 2:01:42 GMT
It's the 'Hotel California' of P2P for me. Managed to get from £25k to £10k in around 12 months. I've been stuck on £10k for around 3 months, roughly 40 loans but a handful are the same company different tranches. Can't sell them now of course, so just left hoping to get the occasional email saying one has been repaid! It's slow, horrible and a pain in the backside - I've given up reading the updates now as they are just wishful thinking for the most part.
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shuff27
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Post by shuff27 on Jan 17, 2018 6:26:31 GMT
I've reduced by about 80% over the past few months. Now just stuck in the groundhog day of whitehaven, powerboat & newcastle.
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Post by routlep on Jan 17, 2018 7:18:59 GMT
Secondary market seems to have lost liquidity at the moment. Any views on why this has happened - post Christmas lull?
I'm hoping as we get closer to the new tax year there will be more IFISA money for loans that are still tradeable. Your progress is not bad though. I would expect to take about a year to get out of P2P loans and there will be inevitable defaults, otherwise interest rate would not be 12% plus.
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aj
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Post by aj on Jan 17, 2018 11:15:16 GMT
Secondary market seems to have lost liquidity at the moment. Any views on why this has happened - post Christmas lull?
I'm hoping as we get closer to the new tax year there will be more IFISA money for loans that are still tradeable. Your progress is not bad though. I would expect to take about a year to get out of P2P loans and there will be inevitable defaults, otherwise interest rate would not be 12% plus.
I'd say the secondary market will be a bit slow until the new tax year. The way FS loans work with tax means the secondary market is heavily reliant on ISA money. I buy most of my bits on the secondary market, and i'm hoping to see some good discounts on the more choice loans soon. 
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r00lish67
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Post by r00lish67 on Jan 17, 2018 11:48:49 GMT
Secondary market seems to have lost liquidity at the moment. Any views on why this has happened - post Christmas lull?
I'm hoping as we get closer to the new tax year there will be more IFISA money for loans that are still tradeable. Your progress is not bad though. I would expect to take about a year to get out of P2P loans and there will be inevitable defaults, otherwise interest rate would not be 12% plus. Yes, it's a shame that FS had to introduce a cap of 1% on discounts, I think because of investors abusing their ISA allowances. What was a very well functioning market is now a little impaired IMV, although still much better than most other platforms. Prior to the existence of the FS ISA, a 2% discount was IIRC, sufficient to clear even the ropiest of loans. Nowadays with people often having ISA cash to spend, I think it would almost always be sufficient. It would be great to have that amended to a max of 2% fundingsecure , if it wouldn't bring back the ISA 'growers' too much..
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Post by routlep on Jan 17, 2018 15:26:32 GMT
I second that - the secondary market is being impaired by the 1% cap
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mullet
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Post by mullet on Jan 17, 2018 15:28:04 GMT
Secondary market seems to have lost liquidity at the moment. Any views on why this has happened - post Christmas lull?
I'm hoping as we get closer to the new tax year there will be more IFISA money for loans that are still tradeable. Your progress is not bad though. I would expect to take about a year to get out of P2P loans and there will be inevitable defaults, otherwise interest rate would not be 12% plus. Yes, it's a shame that FS had to introduce a cap of 1% on discounts, I think because of investors abusing their ISA allowances. What was a very well functioning market is now a little impaired IMV, although still much better than most other platforms. Prior to the existence of the FS ISA, a 2% discount was IIRC, sufficient to clear even the ropiest of loans. Nowadays with people often having ISA cash to spend, I think it would almost always be sufficient. It would be great to have that amended to a max of 2% fundingsecure , if it wouldn't bring back the ISA 'growers' too much.. Currently only 20 of the 208 loans on the SM are priced at the max 1% discount - most people are pricing above the max 1% discount. I'm currently on the lookout for stuff on the SM - anything decent I try to pick up but I don't see much on there at the moment that tempts me much. The good stuff goes quick.
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r00lish67
Member of DD Central
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Post by r00lish67 on Jan 17, 2018 15:43:24 GMT
Yes, it's a shame that FS had to introduce a cap of 1% on discounts, I think because of investors abusing their ISA allowances. What was a very well functioning market is now a little impaired IMV, although still much better than most other platforms. Prior to the existence of the FS ISA, a 2% discount was IIRC, sufficient to clear even the ropiest of loans. Nowadays with people often having ISA cash to spend, I think it would almost always be sufficient. It would be great to have that amended to a max of 2% fundingsecure , if it wouldn't bring back the ISA 'growers' too much.. Currently only 20 of the 208 loans on the SM are priced at the max 1% discount - most people are pricing above the max 1% discount. I'm currently on the lookout for stuff on the SM - anything decent I try to pick up but I don't see much on there at the moment that tempts me much. The good stuff goes quick. Yes, it's mostly not too bad I agree, and should hopefully recover in April. I do have a couple of those 1% discount loans though, which I'm happy to hold at the moment but might like the chance to sell on (even at over 1% discount) depending on what happens. I won't die in a ditch if I can't, but hey - don't ask, don't get 
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Liz
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Post by Liz on Jan 17, 2018 16:23:36 GMT
I have been trying to get it of another P2P site for years! Now stuck with a bunch of defaulted and "problem" loans. I won't be fully out for about 10 years thanks to its payment plan!
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Liz
Member of DD Central
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Post by Liz on Jan 17, 2018 16:32:57 GMT
Currently only 20 of the 208 loans on the SM are priced at the max 1% discount - most people are pricing above the max 1% discount. I'm currently on the lookout for stuff on the SM - anything decent I try to pick up but I don't see much on there at the moment that tempts me much. The good stuff goes quick. Yes, it's mostly not too bad I agree, and should hopefully recover in April. I do have a couple of those 1% discount loans though, which I'm happy to hold at the moment but might like the chance to sell on (even at over 1% discount) depending on what happens. I won't die in a ditch if I can't, but hey - don't ask, don't get I've been selling a few bits @ par and 0.1% discount. I agree it's the bad and large loans that won't sell at a large discount. There are a handful of bargains out there, but 99% I wouldn't touch at the current price levels.
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alison
Member of DD Central
Sanctuary!!
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Post by alison on Jan 17, 2018 17:18:02 GMT
Having peaked at £15k deposited in March 2016, I feel incredibly relieved that I was able to sell up/withdraw all of that by September 2017.
So everything else after that is just gains (or non-losses!!).
And £1600 withdrawn since then with £1600 still to go, but that does include the likes of the toy boat.
Not perfect but still beating inflation!
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poppyland
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Post by poppyland on Jan 17, 2018 18:38:01 GMT
Why would anyone want to get out of FS? They're my favourite P2P platform right now. Or am I missing something?
Now Lendy........that's a different matter. I'm worried they are going to fail horribly in the next 2 years.
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kermie
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Post by kermie on Jan 17, 2018 18:56:53 GMT
The discounts started creeping towards -1% only in the past week or two - my pet theory is that this is individuals selling out in order to pay for their tax bill (self assessment) due 31st January. I am hopeful that this will subside in February.
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