upland
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Post by upland on Jan 22, 2018 7:45:20 GMT
"Take the money and run" - I have always felt with p2p websites that the real money for the owners would be to build a brand name with a decent user base and good working team. To the financial 'big boys' this would be worth silly money so they can have their bit of high tech finance. I assume they will do some DD on the assets and prospects of the loans. Selling all the hard work almost at par seems dim , or am I being naive ?
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r00lish67
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Post by r00lish67 on Jan 22, 2018 8:49:35 GMT
Coming back to the OP, the answer as of the last few days is 'a lot better'. Just the 7 loans at 1% discount at the time of writing, where we were at 19 only a few days ago, and I don't know about anyone else but my loans seem to be selling much better now across the range. It must be all of the positive chat on here doing some good  Or, FS have just thankfully taken the foot at least partially off the pedal with new loans, and hungry investors have sorted their tax affairs? |
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mullet
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Post by mullet on Jan 22, 2018 10:00:23 GMT
Coming back to the OP, the answer as of the last few days is 'a lot better'. Just the 7 loans at 1% discount at the time of writing, where we were at 19 only a few days ago, and I don't know about anyone else but my loans seem to be selling much better now across the range. It must be all of the positive chat on here doing some good Or, FS have just thankfully taken the foot at least partially off the pedal with new loans, and hungry investors have sorted their tax affairs? Same for me. I've had quite a few sell in the last few days that I never thought would shift
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hantsowl
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Post by hantsowl on Jan 22, 2018 11:01:48 GMT
Just read the updates on South Wales Property (1442701959) from the bottom up. Two years of incompetence or worse. The guide price on this property has now been reduced to £350k and they won't get that as it is essentially derelict and worth only the land value which is next to nothing in that location. I would love to sell my loan part for 50% if you are interested as this is my last on this pathetic platform, the only one of 10 where my losses exceed all time interest earned.. This is scary - you're the second person who's said they've made an overall loss on this platform. Now I'm beginning to wonder whether it was such a great idea to bring the majority of our money over to FS, and to recommend my son to bring all his money over (from Lendy). But where is better? That's the big question. A year ago my largest investment was with Lendy followed by MT. In the last few months I have gradually been reducing both (waiting to see how they handle the growing list of defaults) and increasing investment in Col and Ablrate. Col were great when dealing with pawn and they handled a car default in an excellent manner and got full repayment on time. They seem to be focusing more on property now and it remains to be seen how they handle any possible problems in the future. They are currently my largest investment (but only 15% of that in property). Ablrate focus on different types of investments (in general) to the others mentioned here, so good for a bit of diversity. They seem very competent and loans tend to have plenty of security (a recent exception was an attempt to launch a boat loan which had little 'real' security and relied more on the success of the concept. This failed to fill and was pulled). They also have some interesting new projects which are about to launch AND offer an IFISA which i have made use of. I am also slowly increasing investment with unbolted and lendinvest but the rates are lower (5-8%) and neither have a SM. I will also look at AC when they sort out their diversification algorithm and allow MILA investments in their IFISA (both scheduled for Q1). Again rates here lower at (5.5-9%). That is currently where I am investing based on my experience over the last 2-3 years. I hope this is of use to you.
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r1200gs
Member of DD Central
Posts: 1,336
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Post by r1200gs on Jan 22, 2018 12:13:23 GMT
Why would anyone want to get out of FS? They're my favourite P2P platform right now. Or am I missing something? Just read the updates on South Wales Property (1442701959) from the bottom up. Two years of incompetence or worse. The guide price on this property has now been reduced to £350k and they won't get that as it is essentially derelict and worth only the land value which is next to nothing in that location. I would love to sell my loan part for 50% if you are interested as this is my last on this pathetic platform, the only one of 10 where my losses exceed all time interest earned.. Having just done the numbers, I have worked out that with around a hundred thousand invested over around two plus years and presuming that trains and Whitehaven come to nought, I'm down 20 quid.
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james21
Member of DD Central
Posts: 651
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Post by james21 on Jan 22, 2018 13:12:22 GMT
Just read the updates on South Wales Property (1442701959) from the bottom up. Two years of incompetence or worse. The guide price on this property has now been reduced to £350k and they won't get that as it is essentially derelict and worth only the land value which is next to nothing in that location. I would love to sell my loan part for 50% if you are interested as this is my last on this pathetic platform, the only one of 10 where my losses exceed all time interest earned.. Having just done the numbers, I have worked out that with around a hundred thousand invested over around two plus years and presuming that trains and Whitehaven come to nought, I'm down 20 quid. that is shocking, funding secure should be ashamed of themselves
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Monetus
Member of DD Central
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Post by Monetus on Jan 22, 2018 14:56:32 GMT
Just read the updates on South Wales Property (1442701959) from the bottom up. Two years of incompetence or worse. The guide price on this property has now been reduced to £350k and they won't get that as it is essentially derelict and worth only the land value which is next to nothing in that location. I would love to sell my loan part for 50% if you are interested as this is my last on this pathetic platform, the only one of 10 where my losses exceed all time interest earned.. This is scary - you're the second person who's said they've made an overall loss on this platform. Now I'm beginning to wonder whether it was such a great idea to bring the majority of our money over to FS, and to recommend my son to bring all his money over (from Lendy). But where is better? That's the big question. I'm also in a substantial overall loss on FS thanks to a certain Wind Turbine - with Powerboat, Knaresbrough and Whitehaven capital losses likely to come.... Funding "Secure"? Don't make me laugh...
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pier2pier
Member of DD Central
Posts: 80
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Post by pier2pier on Jan 26, 2018 10:16:58 GMT
got over 8k unredeemed, noticed on my mobile an e-mail of the good kind - one of your investments has been completed - happy daze i thought - then the realisation that it was a £25 shot, at least the interest of £5.89 made me chuckle. An uphill struggle will continue with FS. Still, at least the sun is shining, after a cold night, happy daze ahead
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
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Post by sqh on Jan 26, 2018 12:15:11 GMT
got over 8k unredeemed, noticed on my mobile an e-mail of the good kind - one of your investments has been completed - happy daze i thought - then the realisation that it was a £25 shot, at least the interest of £5.89 made me chuckle. An uphill struggle will continue with FS. Still, at least the sun is shining, after a cold night, happy daze ahead That is an impressive return. I think you are referring to loan 2157766811. The update says: "Funds have now arrived and the loan will shortly be closed.
All investors will receive capital and interest for the full 662 day period."I wonder if the doom-mongers will try to get this post redacted?
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invester
P2P Blogger
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Post by invester on Jan 26, 2018 12:30:00 GMT
Anyone done their tax returns on the FS site?
My current investments (plus pending bids), suggest I have a few hundred quid more than I started with.
But 2016/2017 tax return says £35 loss.
2017/2018 tax return has an even bigger loss of £125, and capital recoveries less than 10%.
This is off a £2k investment as well.
Seems a bit Bondora like, in that the value of defaulted loans still shows up in current investments.
Only site apart from Bondora that I've lost money in.
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mikes1531
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Post by mikes1531 on Jan 26, 2018 14:51:00 GMT
Anyone done their tax returns on the FS site? My current investments (plus pending bids), suggest I have a few hundred quid more than I started with. But 2016/2017 tax return says £35 loss. 2017/2018 tax return has an even bigger loss of £125, and capital recoveries less than 10%. This is off a £2k investment as well. Seems a bit Bondora like, in that the value of defaulted loans still shows up in current investments. Only site apart from Bondora that I've lost money in. AIUI, this is due to the current tax law. It allows the writeoff of all the capital invested in loans deemed to be in default once the receivers are called in. Then when/if any recovery is made it all has to be reported as income. So if you hold a loan like 2157766811 you'd end up with a big loss for 2016/17 and a big chunk of income for 2017/18. Depending on the size of of your P2P investment, how diversified it is, and what other income you have, this can play havoc with any tax planning you might try to do. I must commend FS for making this info available during the tax year, when there's a chance for investors to react to such losses/income, rather than after the end of the tax year when it's too late to do anything about it. Note: The above is JMHO as a laymen unqualified to discuss such things. It definitely isn't advice... or to be relied on!
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upland
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Post by upland on Jan 27, 2018 11:17:53 GMT
I must commend FS for making this info available during the tax year, when there's a chance for investors to react to such losses/income, rather than after the end of the tax year when it's too late to do anything about it. I agree , its a good brownie point in their favour. I am thankful to all p2p websites that have this sort of information so easily available.
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