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Post by mrclondon on Mar 1, 2018 17:08:06 GMT
As the starter of the thread "I'm outta here" I am not entirely sure what I'm doing in this thread, but here goes... I'm not currently thinking about coming back - I am now just sitting on a rump of lates and defaults. But, if I were, I'm pretty sure that my first thought would be to invest via FCIF as that gives a more-or-less guaranteed exit route, in full, if required. [...] FCIF is a non starter for me as I don't want exposure to USA SME debt, I simply don't have the understanding of the risk profile & the recovery mechanisms.
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Post by flx123 on Mar 5, 2018 10:22:54 GMT
After the Col events, I've been contemplating a move back here - has anyone done the same? Given that the investment goes into the black box I don't have have the annoyance of reading updates that never come, and whilst I wasn't a massive fan of them before the chances of them disappearing into the night seem slimmer. I guess what I'm asking is, for people that have bought 300+ loans, are the returns around the area where it says it'll be? And that loans can't be picked at all now (only the band?) I've invested a few k in Zopa+ and that is not going well, but there doesn't seem to be the same amount of complaints on the FC forum. Is negative news at Col really a good reason to reconsider a platform you left consciously in the first place?
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Post by spareapennyor2 on Mar 5, 2018 10:55:30 GMT
i still question the DD @fumbling clowns
defaults after 2 payments?
look at the weekly defaults on Thursdays i see about avg #20 a week
yes i would like to help sme but mostly unsecured?
still burned from short term property london
for me at best it`s a pile them high hope it out weights the bad
can`t see me rushing back
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james21
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Post by james21 on Mar 5, 2018 11:11:55 GMT
I am not tempted to go back, dont like SME's. Have been putting into Assetz GBBA 6.25% and did test withdrawal which was done in 2 days; and it has a provision fund. Also like relendex which does not get much of a mention on here, not many loans but first charge property look pretty solid, about 8.25% has IFISA and regular income
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Post by Harland Kearney on Mar 6, 2018 1:52:47 GMT
I am not tempted to go back, dont like SME's. Have been putting into Assetz GBBA 6.25% and did test withdrawal which was done in 2 days; and it has a provision fund. Also like relendex which does not get much of a mention on here, not many loans but first charge property look pretty solid, about 8.25% has IFISA and regular income Am I right in saying Relendex has a minimum bid of £500 per loan. If so this is likely why some investors here do not invest; however can't talk for the its SM, can you buy smaller loan parts via that avenue? Again, I have never used so just curious from your experience 
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Nomad
Member of DD Central
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Post by Nomad on Mar 6, 2018 2:42:37 GMT
I am not tempted to go back, dont like SME's. Have been putting into Assetz GBBA 6.25% and did test withdrawal which was done in 2 days; and it has a provision fund. Also like relendex which does not get much of a mention on here, not many loans but first charge property look pretty solid, about 8.25% has IFISA and regular income Am I right in saying Relendex has a minimum bid of £500 per loan. If so this is likely why some investors here do not invest; however can't talk for the its SM, can you buy smaller loan parts via that avenue? Again, I have never used so just curious from your experience Yes £500 minimum for purchase and for resale.
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Post by Deleted on Mar 6, 2018 9:00:05 GMT
I would struggle to go back to FC. Partially because I'm not sure what will be their next strategic change. I cannot believe that the mercurial people who are on the board will leave it as it is, they like tinkering too much. Since anything they do will always be to the benefit of the directors and then shareholders (sorry to be so cynical) only two groups will end up paying. Borrowers and Lenders.
As TPratchett would say, "the leopord does not change its shorts".
Moving to AC, so far I'm impressed by their tidying up of older loans, their new offerings leave me cold and I suspect once they go public they will be swallowed up by a competitor in a few months.
P2P should be about innovate lending with a fair dsitribution of risk and reward. Lending on property while always a backbone is not interesting nor especially risk free.
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bg
Member of DD Central
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Post by bg on Mar 6, 2018 9:13:23 GMT
Moving to AC, so far I'm impressed by their tidying up of older loans, their new offerings leave me cold and I suspect once they go public they will be swallowed up by a competitor in a few months. What competitor is likely to swallow them up though? Is there anyone bigger than AC doing secured lending?
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blender
Member of DD Central
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Post by blender on Mar 6, 2018 9:15:32 GMT
I would struggle to go back to FC. Partially because I'm not sure what will be their next strategic change. I cannot believe that the mercurial people who are on the board will leave it as it is, they like tinkering too much. Since anything they do will always be to the benefit of the directors and then shareholders (sorry to be so cynical) only two groups will end up paying. Borrowers and Lenders. As TPratchett would say, "the leopord does not change its shorts". Moving to AC, so far I'm impressed by their tidying up of older loans, their new offerings leave me cold and I suspect once they go public they will be swallowed up by a competitor in a few months. P2P should be about innovate lending with a fair dsitribution of risk and reward. Lending on property while always a backbone is not interesting nor especially risk free. I rather think that the mercurial ones have been focussed on getting FC to this point for flotation and after the IPO will be off with the cash for a new challenge. With FC captured by the establishment as a pseudo-bank. I think there is nothing beyond the IPO, except volume. Rates will go down to the point at which the size of the loan book is kept maximised, for the benefits of the directors and shareholders as you say. The customers, the borrowers, will get the best deal consistent with steady growth. The lenders, the minimum to maintain supply of funds. But still it will be better than savings.
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Post by Deleted on Mar 6, 2018 9:22:54 GMT
Moving to AC, so far I'm impressed by their tidying up of older loans, their new offerings leave me cold and I suspect once they go public they will be swallowed up by a competitor in a few months. What competitor is likely to swallow them up though? Is there anyone bigger than AC doing secured lending? certainly in P2P in the US there are bigger ones and at least one in the UK, then in terms of pure lenders there are plenty of competitors, it all depends on how large their ability to borrow money/or elevate debt and small their CEO's genitals, after all aquisitions seldom make shareholders money but do bump up directors' bonuses secured lending? Not sure a shark worries if the fish it eats was vegetarian or meat eater....
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ashtondav
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Post by ashtondav on Mar 6, 2018 9:24:18 GMT
Going back to FC (as a result of Col) would be like juggling Frying Pans and Hot Coals. No it wouldn’t. That’s not an appropriate comparison or metaphor. You expect F.C. to stop trading? I suggest you do DD...
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bg
Member of DD Central
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Post by bg on Mar 6, 2018 10:54:34 GMT
What competitor is likely to swallow them up though? Is there anyone bigger than AC doing secured lending? certainly in P2P in the US there are bigger ones and at least one in the UK, then in terms of pure lenders there are plenty of competitors, it all depends on how large their ability to borrow money/or elevate debt and small their CEO's genitals, after all aquisitions seldom make shareholders money but do bump up directors' bonuses secured lending? Not sure a shark worries if the fish it eats was vegetarian or meat eater.... I don't know about US platforms (other than some are struggling) but I really can't think of a bigger UK platform (or one that comes close even) and I certainly can't imagine any of them having the likely £100m+ that would be required to buy them. If someone was to buy them out it would more likely be private equity, an institution or even a bank..
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Post by jackpease on Mar 6, 2018 13:13:31 GMT
The great thing about having no platform rep is the total lack of expectation brought on by warm words and a faux relationship. Hated almost from day one, pretty well everything FC does is greeted with massive cynicism.
All the while my pre-historic defaults get paid back penny by penny, bots are feeding me a fair share of cast offs/turkeys (and not an unfair share), and i quietly and without drama earn similar amounts as Assetz/Ratesetter.
I'm content and 'unsecured' doesn't really seem hugely risky compared to 'secured (on a dodgy valuation)'.
Jack P
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mikeymike
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Post by mikeymike on Mar 8, 2018 0:29:47 GMT
Just pulled my last available from the platform. Still have c.£200 in late and defaults but made twice that, it has worked out but that was on the old model which was more in the spirit of P2P.
You knew who you were lending to and could do some proper dd. If you got it wrong it was your fault, that, I could live with that and acted accordingly.
I don't think the new rates and model make the risk as worthwhile. So feeling pleased that I had a go, thankful that I learned a lot but realise that it was only a fraction of what is needed.
Deep pockets can stand big losses better than small ones!
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Post by listener on Mar 8, 2018 16:54:55 GMT
(my bold) I headed in the opposite direction and signed up to Assetz Capital and their self select MLIA account which is easy to operate and when I got there I found that they have a really big loan book so there's plenty to choose from so I could diversify. Assetz also have 'Black Box' accounts but I prefer to retain my right to choose and that's something that FC has taken away.
Rates offered 5% and up to circa 12% with the average MLIA loan rates across the book sitting around 7.5%. (my bold) Just another opinion amongst many I suppose but those words on their own encapsulate the very essence of why I left them..aside from the fact that a hundred or so loans remain on life support and in particular their handling of a London hotel and the fallout surrounding that
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