IFISAcava
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Post by IFISAcava on Apr 15, 2018 20:02:44 GMT
I've just opened two new online "easy saver" accounts at 1.2% or so rather than increase my exposure to P2P or S&S. I recently opened 2 regular savers paying 3% and 5%. it'a only £600 a month paid into the pair, but it beats inflation. I did a regular saver at £300 a month for a year at 5%, and just got back 90-odd quid before tax. Just about matches inflation.
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sarahcount
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Post by sarahcount on Apr 15, 2018 20:21:02 GMT
I recently opened 2 regular savers paying 3% and 5%. it'a only £600 a month paid into the pair, but it beats inflation. I did a regular saver at £300 a month for a year at 5%, and just got back 90-odd quid before tax. Just about matches inflation. I make that inflation rate x 2, not inflation rate x 1. (People always seem disappointed with the interest received on monthly saver accounts - probably because they are looking at their closing balance rather than the average balance.)
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IFISAcava
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Post by IFISAcava on Apr 16, 2018 0:11:32 GMT
I did a regular saver at £300 a month for a year at 5%, and just got back 90-odd quid before tax. Just about matches inflation. I make that inflation rate x 2, not inflation rate x 1. (People always seem disappointed with the interest received on monthly saver accounts - probably because they are looking at their closing balance rather than the average balance.) Not after tax I'm left with £50 on an average balance of £1800 - inflation * 1
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Post by df on Apr 16, 2018 0:22:25 GMT
In the new P2P climate, any loan that needs 2% cashback to get it away is a duff loan with a capital D. High class loans don't need cash back on top of 12%. The other problem of course is that if it's a cash back loan you are stuck with it until the bitter end because so much of the funding will be from cashback hunters and not project supporters and enthusiasts. A platform that is offering 12% interest and then has to offer 2% cashback on top and then still can't fund loans has got a problem. Right now it feels as though Lendy would struggle to raise the funds to make a loan against a wendy house. I looks like cash back hunters are no longer interested because they realised that in current climate CB comes with being stuck with the loan. IIRC those on Col weren't selling well... Not much success of CB scheme on MT too. I've invested in loans offering CB (not because of the offer, I'm not interested in flipping) my standard allowance per risky property loan, but don't do it any more - any loan offering cash back gets on my "dismiss" list.
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Post by df on Apr 16, 2018 1:10:13 GMT
Ha yeah, got my months and years mixed up.... Just can't see it being completed though. You can see why Lendy want it over the line though, one of their biggest selling points to borrowers is that their platform could make the big loans happen where the others can't. Not sure where the appetite is for multi-million loans now. I think there is appetite but not the cash. Lendy need to get cash back to their lenders either by loans repaying or improving SM liquidity with discounting. I was planning to use loan repayments to buy into Cardiff but no repayment forthcoming and my funds are tied up elsewhere after ISA season Not doing too well on repayments and it's hard to see how it is going to improve. I don't think discounting would make any significant difference, the appetite for high risk/return seems to be declining.
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Post by df on Apr 16, 2018 1:48:31 GMT
I did a regular saver at £300 a month for a year at 5%, and just got back 90-odd quid before tax. Just about matches inflation. I make that inflation rate x 2, not inflation rate x 1. (People always seem disappointed with the interest received on monthly saver accounts - probably because they are looking at their closing balance rather than the average balance.) I've noticed most offerings are now very transparent (i.e. headline includes the exact return).
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Post by charliebrown on Apr 16, 2018 8:32:00 GMT
I think there is appetite but not the cash. Lendy need to get cash back to their lenders either by loans repaying or improving SM liquidity with discounting. I was planning to use loan repayments to buy into Cardiff but no repayment forthcoming and my funds are tied up elsewhere after ISA season Not doing too well on repayments and it's hard to see how it is going to improve. I don't think discounting would make any significant difference, the appetite for high risk/return seems to be declining. Because the risk is higher than the return. The chance of you getting your capital back with 12% interest in a decent timeframe is pretty unlikely based on current performance.
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IFISAcava
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Post by IFISAcava on Apr 16, 2018 8:37:43 GMT
Not doing too well on repayments and it's hard to see how it is going to improve. I don't think discounting would make any significant difference, the appetite for high risk/return seems to be declining. Because the risk is higher than the return. The chance of you getting your capital back with 12% interest in a decent timeframe is pretty unlikely based on current performance. In which case a variable price secondary market would sort out the "real" price of that risk (and potentially free up money for the primary market)
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hazellend
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Post by hazellend on Apr 16, 2018 8:38:26 GMT
In the new P2P climate, any loan that needs 2% cashback to get it away is a duff loan with a capital D. High class loans don't need cash back on top of 12%. The other problem of course is that if it's a cash back loan you are stuck with it until the bitter end because so much of the funding will be from cashback hunters and not project supporters and enthusiasts. A platform that is offering 12% interest and then has to offer 2% cashback on top and then still can't fund loans has got a problem. Right now it feels as though Lendy would struggle to raise the funds to make a loan against a wendy house. I looks like cash back hunters are no longer interested because they realised that in current climate CB comes with being stuck with the loan. IIRC those on Col weren't selling well... Not much success of CB scheme on MT too. I've invested in loans offering CB (not because of the offer, I'm not interested in flipping) my standard allowance per risky property loan, but don't do it any more - any loan offering cash back gets on my "dismiss" list. Cashback is awesome. As it is tax free you can pretty much double the percent for a higher rate tax payer, so 5% becomes equivalent of 10%.
I definitely don't let the cashback tail wag the dog anymore but I am happy buying in knowing there will be no liquidity if it is a loan that I like the look of.
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Post by p2plender on Apr 16, 2018 12:24:13 GMT
There's been quite a few loans I 'liked the look of', many are in default now. A loan at 14% coupon is always going to be 'seat of the pants stuff'and that's with a competent platform and valuation. With Lendy it's about as good as a scratchcard.
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Post by loftankerman on Apr 16, 2018 13:32:11 GMT
There's been quite a few loans I 'liked the look of', many are in default now. A loan at 14% coupon is always going to be 'seat of the pants stuff'and that's with a competent platform and valuation. With Lendy it's about as good as a scratchcard. Factual report: June 2017 - village shopkeeper, Kartik Shah, of Kingswood Surrey jailed for 8 months for telling customer his £20,000 winning ticket was worthless and claiming the prize for himself. I imagine quite a few think the scratchcard analogy is a good un.
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hazellend
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Post by hazellend on Apr 20, 2018 20:16:03 GMT
LTV lowered by 10% to 45% Loan value now being reduced to 4.7mil Looks like a decent prospect. Off to look down the back of the sofa, doesn't seem to be any rush  |
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Post by freedommmm on Apr 24, 2018 9:54:50 GMT
It is moving at a "blazing" rate of £5,000 per day!
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tx
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Post by tx on Apr 28, 2018 15:55:25 GMT
This is not moving. I think the investor in this loan is paying themselves interest at the moment. At the end of the loan term and it still not drawn down and the 12% interest element may get written off and return the rest to investor... sorry I am only speculating.
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hazellend
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Post by hazellend on Apr 28, 2018 17:33:32 GMT
This is not moving. I think the investor in this loan is paying themselves interest at the moment. At the end of the loan term and it still not drawn down and the 12% interest element may get written off and return the rest to investor... sorry I am only speculating. It won’t shift unless we get one of the big loans repaying so people can reinvest.
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