benaj
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Post by benaj on Aug 2, 2018 9:47:01 GMT
Well well well, since 26th July, one of main account in FC has not picked up any new PM loan offers, now unused fund is > 2%, enough to buy 4 loan parts but not earning interest.
Just wondering if anyone else experience something similar recently?
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Post by GSV3MIaC on Aug 2, 2018 12:03:50 GMT
Historically summer vacations (July/Aug) have always been slow for new loans (solicitors, valuers, brokers, and borrowers, all finding something sunnier to do in foreign parts). It'll pick up again in due course (although the new, opaquer, FC make it harder to see what is/is not happening on the new loans front.
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Post by Ace on Aug 2, 2018 13:11:04 GMT
The uninvested funds in one of my FC accounts crept up from zero to over 2% of fund over 10 days at the end of July with no new allocations. Then, all of a sudden, 5 loans were allocated in one day reducing the percentage back to almost zero again. This pattern seems fairly common for me with FC. I've stopped worrying about it as it gives a fairly negligible cash drag once the initial deposit is fully invested. Having said that, if I wasn't already invested in FC I wouldn't start now. I'm not putting any more money in, but I'm letting my current investments roll (with reinvestment) for diversification and to see how things play out. Having written that last sentence I realize that I'm probably just trying to justify my laziness! IMO there are better platforms out there: - For higher rates with what I perceive to be a similar risk to FC, I'm currently favouring ABL and AC; albeit they both require considerably more work. If ABL ever issue any more portfolio loans, they may provide a more comparable alternative to FC.
- For fire-and-forget platforms with rates similar to what I hope to achieve with FC, but with what I perceive to be a lower risk, I'm currently favouring LW and GS. Both are working well for me.
- For buy-to-let investments with dividends from rent and exposure to property market, I'm tinkering with Uown, BO and PP. All going well, but early days.
- For euro based investments I'm using Mintos, Robocash and Grupeer. All seem ok with high rates, but I have issues with each of them:
- Rates dropping at Mintos, and lots of Mogo buybacks.
- Cash drag at Robocash.
- Auto-invest at Grupeer gives very poor diversification.
My main concerns with FC are their recent lack of openness and poor DD leading to poor recovery from too many defaults.
Sorry, I realize that no-one asked, but I've got some time on my hands due to ABL's improved bidding system that meant that only one minute of my allotted hour was need to get a piece of today's loan  |
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markr
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Post by markr on Aug 3, 2018 19:15:41 GMT
My ISA account seems to be keeping itself busy but my classic account has only been nibbling on the SM and so has accumulated uninvested funds up to about 4 loan parts worth. I've noticed I've had quite a few early repayments in the last few days, though, so that and the usual Summer lull are probably not helping.
I've also temporarily switched both accounts to conservative to try to build up a buffer of reasonable loans to help offset the, errm, less salubrious parts of my portfolio.
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benaj
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Post by benaj on Aug 8, 2018 16:42:09 GMT
 That account is not picking up any PM loans since 26 Jul, picked up another one from SM today!!! Meanwhile, other FC accounts of mine seems to do fine. Latest PM loans 2nd Aug - 61082 6th Aug - 61193 7th Aug 61233 8th Aug 61351 So, that's at least 67 new loans formed each working day since 2nd Aug.
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benaj
Member of DD Central
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Posts: 5,614
Likes: 1,740
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Post by benaj on Aug 14, 2018 18:07:07 GMT
not really impressed with the FC algorithm, my oldest account keeps buying loans from SM since 26th Jul, got another one today.  Mean while, my other FC accounts have these matched. 8th Aug 61351 10th Aug 61457 13th Aug 61545 14th Aug 61642 That's about 47 new loans formed each working since 8 Aug |
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Post by GentlemansFamilyFinances on Aug 20, 2018 15:29:15 GMT
I do wonder if older members have preference over newer lenders.
It's not something I would expect - but it's something I wouldn't be surprised at.
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