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Post by loadsamoney on Aug 26, 2018 12:26:05 GMT
I'm a frequent lurker, and only (so far) a rare poster here. Allowing for the fact that more unhappy investors post than happy ones, I still find it helpful to gauge sentiment re: individual platforms, as well as the p2p sector as a whole. Generally speaking, I assume that if very few posts are made sentiment about a given platform is relatively positive.
Historically, I note a lot of negative sentiment re: LC, but of late very little activity at all. Either that means everyone here is happy, or no one here is still with LC!
I will say that I have, until recently, been pretty happy with LC. Given that I took advantage of several bonuses, and that earnings have been pretty reasonable, I am fairly well ahead of the game, but I have recently had a loss posted, and a promised update on same is now a month overdue. Looking at the historical loan book I find little reassurance that the 'high hopes of recovery' are justified. Equally, a number of arrears look likely to slip into default/loss.
Any current views?
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Post by albermarle on Aug 26, 2018 15:37:15 GMT
There are intermittent postings and even LC made a few contributions earlier this year, but it is surprising there are not more comments . Especially since the volume and frequency of new loans is so much higher than previously. At the same time there are quite a few loans overdue/in arrears, so surprising that does not generate more comments . My impression from older posts is that LC were poor on chasing debts/getting decent security resulting in losses with no recoveries. My feeling is that side has improved but it is hard to tell for sure. My own portfolio recent had a loss but with a planned gradual recovery from a guarantor . Also some loans in arrears , some still with some life but a couple have gone very quiet . My guesstimation is for a net return in the end around 5 to 7% , barring recession etc
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Post by GSV3MIaC on Aug 26, 2018 16:25:37 GMT
/mod hat off ..
The more vociferous posters are, IMO, long gone, put off by the strange SM, the last minute flood of low rate bids on some loans, and the generally poor recovery rates on defaults. I have LC in the same bin as ReBS .. 'wind down and concentrate on more fruitful pastures' (based on risk/reward/effort). YMMV .. obviously someone must still be buying loans (apart from the few, seemingly captive, BHs).
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Post by albermarle on Aug 26, 2018 17:43:00 GMT
When I read the forum comments on REBS, I feel happier to be with LC .
For sure you would want to limit your holding to a reasonably low % of your portfolio, but at least they seem to be active and growing with a constant stream of new loans . Plus they seem to have some friendly backers in their native Scotland.
Main bugbears are lack of response by borrowers to valid questions about their proposals/figures, and a lack of clarity about what security is be taken by LC.
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elliotn
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Post by elliotn on Aug 27, 2018 2:22:06 GMT
When I read the forum comments on REBS, I feel happier to be with LC . For sure you would want to limit your holding to a reasonably low % of your portfolio, but at least they seem to be active and growing with a constant stream of new loans . Plus they seem to have some friendly backers in their native Scotland. Main bugbears are lack of response by borrowers to valid questions about their proposals/figures, and a lack of clarity about what security is be taken by LC. Re security this is PG and for Asset Security they take a debenture which you can see the details of on CH (after drawdown for new loans), about half my loans are asset secured (which you can see on your loans’ export).
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Post by loadsamoney on Aug 27, 2018 6:13:37 GMT
Thanks all. I'm going with my gut (here and elsewhere) - in the case of LC holding a proportion as cash and withdrawing as bonus lockins end. Aim to dispense generally with all non-ISA P2P. Currently into P2P across several platforms to the tune of 30% of capital (not long ago it was 50%!). Probably need to get this down to 10%, methinks.
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Post by Butch Cassidy on Aug 27, 2018 7:11:30 GMT
I'm still with LC (& REBS) as I see them as a valid alternative to FC for SME lending. I am running down my FC account as I will not use the post Sept 2017 black box auto invest system. Overall I am happy with LC as there have been significant improvements over the last couple of years in DD, loan volume (& hence choice) & communication; I have taken advantage of the several generous bonus offers, so have a decent buffer to withstand any losses, their recovery performance still remains to be proven IMO.
Currently stable & reinvesting profits but not adding an extra monies to both LC & REBS - I have approx. 85 LC loans across 2 accounts with a couple of write offs (zero recovery) & couple of late/struggling so returning near enough 10%pa.
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Post by loadsamoney on Aug 28, 2018 4:11:33 GMT
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djpix99
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Post by djpix99 on Aug 28, 2018 10:46:19 GMT
I joined last September when there was a decent bonus offer and i'm currently trying to make a decision as to weather to jump ship after my lock-in period ends.
Here's a summary of my current returns since investing on 12/09/17:
Interest: 8.58% Bonus: 6% Loans with issues: 7.4% - Fingers crossed a few of the loans with issues recover
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Post by df on Aug 31, 2018 15:00:10 GMT
I joined in Feb 2017. My current situation is: 305 loans (4 in arrears) Bad debt - 4 loans (one of which was fully recovered) "Actual return" - 9.76%
I'm happy with this and my stake in LC has always been on steady increase.
I don't use automated accounts, only manual.
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Post by df on Aug 31, 2018 16:24:44 GMT
LC is the best out of this lot IMO. I have a very small amount in Rebs. Would have had more if they had a better loan flow. I have larger proportion of defaults with Rebs, but still earning above 12% pa. Don’t know what to do with FC. So far I’m at a loss. If I withdraw all that is available, I will end up with no chance to break it even. So far I reduced the amount and hope that autoinvested A/A+ repayments will improve the situation (it will be a long wait), but quite tempted to withdraw and face the failure.
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Post by loadsamoney on Sept 1, 2018 4:50:13 GMT
We have IFISAS with FC, LC, and LW.
Performance to date:
LC 10% (includes bonuses, otherwise 6%) LW 6% FC 8%
Problem 1 is, it's early days. The usual pattern is a honeymoon period before the defaults kick in, then you have to decide whether to crystallise profits/losses or resign yourself to the long haul (if you have confidence in recoveries way down the road).
Problem 2 is current economic uncertainty.
At the moment, since the above are performing, I'm concentrating on tearing down my non-ISA P2P investments with a view to reducing my overall exposure. Sadly, this means dumping some perfectly good options like GS and AC.
I'm still positive about LC. They seem to be about the right size, with steady but not reckless loan origination. Scaling always seems to be the problem, though (witness L). At the moment I'm holding back on reinvestment or upping my stake with LC, and keeping a close eye on progress re: the recovery aspect. Good customer service, though.
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Post by albermarle on Sept 1, 2018 18:41:58 GMT
Loadsamoney- seems like we have a similar strategy with LC . I am keeping an holding strategy with LC and similar with LW and AC . With LC my return is over 10% with bonuses and 7% without .
When I first got into P2P ( when the IFISA's first came along) I said to myself no more than 10% of liquid assets . It's currently creeping up for the right reasons ( earning interest etc ) but with the uncertainties ahead I have made some modest withdrawals from all three sites to keep under the 10 % limit I set myself.
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kaya
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Post by kaya on Sept 12, 2018 10:25:35 GMT
I'm trying them again, after poor results first time round. The current promotion gives you a 5% buffer against defaults - limited to the first 1000 to sign up for current investors. (no limit for new investors)
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Post by df on Sept 14, 2018 13:44:51 GMT
I'm trying them again, after poor results first time round. The current promotion gives you a 5% buffer against defaults - limited to the first 1000 to sign up for current investors. (no limit for new investors) Very good offer! I would've gone for it if I didn't already have up to my self-imposed limit for LC.
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