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Post by dan1 on Aug 7, 2018 18:13:38 GMT
I have a number of loans that have been sitting with at more than 50 days in "awaiting activation". I'm assuming I get interest on these? Yet, the loan-ee won't have received the amount until it's filled right? Little bit worrying. I'm in the same situation, and I believe interest is earned from when you invest - I'm not sure who pays that interest though, as I doubt the borrower would want to before they get the money. If you check the "Investments awaiting activation" tab on "My Investments" page, you should see the accrued interest. I'm not sure what happens if the loan is cancelled by the borrower if it doesn't fill quickly enough for them - I'd hope the interest would still be paid.If the investment is cancelled then interest will be paid for the time you've invested in the loan. There is no minimum interest period unlike if the loan was drawn down where the minimum interest period is 30 days.
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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 Aug 7, 2018 18:27:02 GMT
Just noticed cashback has been applied to another loan, perhaps they are reading this thread. Will need a few more of those to get things moving. Three hours after cashback was introduced and amount filled (53%) has not moved, so much for the power of cashback. A bit surreptitious. I'm surprised fundingsecure, haven't sent an email to say cashback is offered.
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Post by beepbeepimajeep on Aug 7, 2018 19:01:27 GMT
I am pleased to see that the Funding Secure business model of never default, never force repayment, never sell the asset and take anything the borrower says as fact year after year after year has finally caught up with them.
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Post by boudicca on Aug 7, 2018 19:10:24 GMT
Three hours after cashback was introduced and amount filled (53%) has not moved, so much for the power of cashback. A bit surreptitious. I'm surprised fundingsecure , haven't sent an email to say cashback is offered. An email about the cashback could have helped, a few large repayments would probably help a lot more.
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reinvestor
Member of DD Central
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Post by reinvestor on Aug 7, 2018 21:17:05 GMT
Anyone read about Elon Musk taking Tesla private this evening? His tweet making the announcement: “Funding secured”!!! Tesla’s burn rate is $7000 per minute!! They and Tesla sound ideal bedfellows!!  |
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Post by df on Aug 7, 2018 21:19:48 GMT
Presumably all the people whinging about liquidity recognise that this is a flaw of their own investment strategy rather than anything else. Did you really think you were the only people to come up with the idea of investing and flipping before term to reduce risk? Flipping has always relied on liquidity and having a greater fool to sell to and you must have realised that this strategy would not last forever. I suggest investing for the term of the loan and on the merits of the underlying asset and then liquidity becomes a non-issue. Presumably there are some, but generally I don't see people who are buying my loans parts at discount as "greater fools". Most of loans I sell come back on primary market. I get less return and they get more. I benefit from reducing my risk and they benefit from higher return. In my view, the main issue with maintaining a healthy liquidity is high level of defaults and slow recoveries resulting in cash locked for a long period of time and often some capital loss.
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aligibbs
Member of DD Central
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Post by aligibbs on Aug 8, 2018 7:26:04 GMT
Anyone read about Elon Musk taking Tesla private this evening? His tweet making the announcement: “Funding secured”!!! Tesla’s burn rate is $7000 per minute!! They and Tesla sound ideal bedfellows!! IMO: Tesla is shortly going to profit- next quarter, having never made any profit in 10+ years. Musk prefers his companies private so he doesn't have to answer to shareholders etc (see SpaceX).
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Post by portlandbill on Aug 8, 2018 11:10:54 GMT
I suggest investing for the term of the loan and on the merits of the underlying asset and then liquidity becomes a non-issue. Because most of the loans pay back at the end of the term? I detect a flaw.
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rogerthat
Member of DD Central
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Post by rogerthat on Aug 8, 2018 11:54:42 GMT
I suggest investing for the term of the loan and on the merits of the underlying asset and then liquidity becomes a non-issue. Because most of the loans pay back at the end of the term? I detect a flaw. Crackerjack..pity I cant uptick you more than once 
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 8, 2018 13:27:26 GMT
I suggest investing for the term of the loan and on the merits of the underlying asset and then liquidity becomes a non-issue. Because most of the loans pay back at the end of the term? I detect a flaw. Yes, but the flaw is FS not running things properly! Only the minority can sell out of everything, leaving most investors holding to term where the problems start when they go over. Unless a good majority of the loans complete successfully the gravy train will hit the buffers. Maybe a few individuals will have made good gains, but many won't.
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trevor
Member of DD Central
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Post by trevor on Aug 9, 2018 17:20:50 GMT
Now 22 and counting. The appalling record of redeeming is now coming home to roost. I note that FS have now started announcing new loans on this forum again having thought it not necessary for sometime. Until you improve your redeeming record FS, which will take months or possibly a year to show even if you start the improvement now this problem filling loans will continue. Valuations need to be realistic.
I am concerned about the platform's future, no loans = no fees and interest income and even a loss when interest has to be paid for cancelled loans.
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Post by investor1925 on Aug 10, 2018 7:11:19 GMT
I am pleased to see that the Funding Secure business model of never default, never force repayment, never sell the asset and take anything the borrower says as fact year after year after year has finally caught up with them. Didn't they just sell an Austin Healey. One reason to invest in small, moveable assets, rather than property, which can be disposed of more quickly in the event of a default.
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Post by fisherman on Aug 10, 2018 7:25:57 GMT
Like the art work?
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Post by beepbeepimajeep on Aug 10, 2018 12:32:53 GMT
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paulb
Member of DD Central
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Post by paulb on Aug 10, 2018 17:02:22 GMT
It looks like this count will increase again - there's a replacement/re-issued loan just posted, and two renewals and a new loan in the morning. I guess the renewals might fill quickly if lenders auto-renew them, but the replacement loan won't have that advantage. The new loan looks to be related to an overdue loan, where an expected sale was supposed to complete today - I'm guess that hasn't happened, if a new loan is necessary.
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