debeast
(o)(o)
Posts: 238 
Likes: 44
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Post by debeast on Aug 12, 2014 8:16:04 GMT
Are the rates worth coming back to yet?
FC was my first back in 2012 but i left as the rates fell and FC started to annoy me with their forum policy.
Is it worth coming back or should i mostly stick to AC?
/beastie
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Aug 12, 2014 11:19:20 GMT
Could be but depends upon your own lending criteria. Like you I cut and ran for similar reasons to yours plus a large dose of defaults. Now that FC have taken the management of defaults inside there has IMO been an improvement in both the number of defaults and FC's ability to get on top of late payers. FC have made a point of mentioning this in the latest newsletter. As to investing we have recently seen a big improvement in rates which some feel has resulted from FC venture into the property business. However as has been the case for at least a couple of years the best rates seem to arise from the larger loans. I personally stay away from the A+ and C- loans and only bid on loans over £100k. However having burnt a few fingers in the past I have limited my investment to a max of £10k this time!
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Post by patricko on Aug 22, 2014 10:00:23 GMT
Could be but depends upon your own lending criteria. Like you I cut and ran for similar reasons to yours plus a large dose of defaults. Now that FC have taken the management of defaults inside there has IMO been an improvement in both the number of defaults and FC's ability to get on top of late payers. FC have made a point of mentioning this in the latest newsletter. As to investing we have recently seen a big improvement in rates which some feel has resulted from FC venture into the property business. However as has been the case for at least a couple of years the best rates seem to arise from the larger loans. I personally stay away from the A+ and C- loans and only bid on loans over £100k. However having burnt a few fingers in the past I have limited my investment to a max of £10k this time! Hi Merlin May I ask why you stay away from A+ loans? Rates too low?
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Post by GSV3MIaC on Aug 22, 2014 16:04:32 GMT
Wouldn't be a general reason for me (see 7408, for instance) although the average, MBR-type A+ is indeed too low compared to the risk (which historically ain't SO much better than a C-).
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Aug 22, 2014 17:04:43 GMT
I can agree on avoiding C-, with the max bid at 15%. But the A+ property loans are now a large part of my holding, and 7368 which closed yesterday at 10.9% (now pre-agreement) looks pretty good to me. It's a good time to buy.
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Aug 22, 2014 18:04:53 GMT
I can agree on avoiding C-, with the max bid at 15%. But the A+ property loans are now a large part of my holding, and 7368 which closed yesterday at 10.9% (now pre-agreement) looks pretty good to me. It's a good time to buy. Do you mean 7378, (7368 wasn't one of the property ones) ... and that one's gone pop due to the lender not wanting the money after all ...
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Aug 22, 2014 18:17:00 GMT
I can agree on avoiding C-, with the max bid at 15%. But the A+ property loans are now a large part of my holding, and 7368 which closed yesterday at 10.9% (now pre-agreement) looks pretty good to me. It's a good time to buy. Do you mean 7378, (7368 wasn't one of the property ones) ... and that one's gone pop due to the lender not wanting the money after all ... Doh! I mean 7386. Anyway, I think that now there are some good A+ opportunities on FC.
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merlin
Minor shareholder in Assetz and many other companies.
Posts: 902
Likes: 302
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Post by merlin on Aug 22, 2014 20:49:02 GMT
Could be but depends upon your own lending criteria. Like you I cut and ran for similar reasons to yours plus a large dose of defaults. Now that FC have taken the management of defaults inside there has IMO been an improvement in both the number of defaults and FC's ability to get on top of late payers. FC have made a point of mentioning this in the latest newsletter. As to investing we have recently seen a big improvement in rates which some feel has resulted from FC venture into the property business. However as has been the case for at least a couple of years the best rates seem to arise from the larger loans. I personally stay away from the A+ and C- loans and only bid on loans over £100k. However having burnt a few fingers in the past I have limited my investment to a max of £10k this time! Hi Merlin May I ask why you stay away from A+ loans? Rates too low? Sorry to be so long coming back. I am afraid you have guessed right the rates are usually too low. I wont touch anything that wont give me 9% net and only very rarely do A+ do that.
Hope this helps.
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Post by valerieb on Aug 25, 2014 9:58:47 GMT
The problem I'm finding with FC at the moment is that the rates at the end of some auctions are so high that the would-be FC borrower goes elsewhere and my tied-up cash in waiting is thrown back a week later. So, from normally concentrating on large A and B/C loans, I'm now mainly going for short loans, small loans and the cashback property offers.
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