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Post by charliebrown on Sept 5, 2018 13:41:44 GMT
I was late getting into P2P so I was only with FS for around 12months before I got scared. I sold most of my loans at a 1% discount so I didn’t make much on my 20,000 but I made a little. If I lose my few hundred in Formby and Hornby I’ll probably break even. Thanks for that I probably bought them  . I need to make 25k a year to pay mother’s care home from her house sale/savings managing to do that getting her 13-15% . I spread the risk and do an awful lot of work to get those returns. I only count losses to those loans completed and returns quantifiable not just assumed will be 100% losses My personal returns are greater. I have a war and Ferengi outlook STAY CALM DON’T PANIC and a profit is a profit . There is always opportunity to make a profit . There are people making profit in Venezuela where inflation is greater than 1,000,000% just takes the ability to find the opportunity to make a little. Remember Richard Pryor in Superman he made a very little from every transaction. There were however thousands of transactions It’s none of my business, but I don’t think it’s a good idea to gamble your Mum’s care home fees on these p2p platforms. The risks are far too great. There’s constant speculation that LY and FS are going to imminently go under and whilst so far that hasn’t been the case I don’t think these fears are unfounded by any means. That’s not to mention all the other risks. Appreciate you sharing your experience and motivations here on the forum though. Best of luck.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Sept 6, 2018 2:26:14 GMT
Thanks for that I probably bought them . I need to make 25k a year to pay mother’s care home from her house sale/savings managing to do that getting her 13-15% . I spread the risk and do an awful lot of work to get those returns. I only count losses to those loans completed and returns quantifiable not just assumed will be 100% losses My personal returns are greater. I have a war and Ferengi outlook STAY CALM DON’T PANIC and a profit is a profit . There is always opportunity to make a profit . There are people making profit in Venezuela where inflation is greater than 1,000,000% just takes the ability to find the opportunity to make a little. Remember Richard Pryor in Superman he made a very little from every transaction. There were however thousands of transactions It’s none of my business, but I don’t think it’s a good idea to gamble your Mum’s care home fees on these p2p platforms. The risks are far too great. There’s constant speculation that LY and FS are going to imminently go under and whilst so far that hasn’t been the case I don’t think these fears are unfounded by any means. That’s not to mention all the other risks. Appreciate you sharing your experience and motivations here on the forum though. Best of luck. Have been doing this 3+ years now for P2P part of my investments . My mother would have lost 70% of her money in fees instead she still has all here money +30% and all her fees have been paid.
You say platforms will go under. ?? As far as I'm aware there has been no FCA approved platform "go under" where investors lost capital.
In the old days with non asset secured investments and non-ringfenced lender accounts where you lent to the company you could loose. (still very few of those in uk)
That is not the case now where your contract is with the borrower and the platform mearly act as managment agents and client funds are separate from the company's funds.
The platforms must also have interim managment plan to run down the loanbook in the event of platform failure.
By selling before due date most of the other risks of P2P and all of the tax in some cases can be eliminated. Investments that lower overall return (or losses as some call them ) can be ofset against interest where tax is due.
I would be more worried about money invested in the stock market where you can loose large amounts at the drop of a terroist bomb.
With over £300k in S&S and bonds etc. It can easily have drop 10's of thousands in a few days. A 1% drop would have paid fees for a month.
Every day my P2P investments go up by at least £0.36/£1000 a day
My mother's and family portofilios amunt to over a million are well diversified over several investment vectors that I loose no sleep over worry of loosing money and making a overall loss due to platform failure. Even mid £20'sK in Collateral does not particulary worry me. Even if it were 100% loss I would still be up overall and all of it would be able to be offset makibg overall return even higher.
I've asked many times before for anyone who has made an overall loss in FCA approved P2P with properly diversified investment to let us know.
To date NOBODY has come forward .
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rookey123
Member of DD Central
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Post by rookey123 on Sept 6, 2018 8:17:43 GMT
Thanks for that I probably bought them . I need to make 25k a year to pay mother’s care home from her house sale/savings managing to do that getting her 13-15% . I spread the risk and do an awful lot of work to get those returns. I only count losses to those loans completed and returns quantifiable not just assumed will be 100% losses My personal returns are greater. I have a war and Ferengi outlook STAY CALM DON’T PANIC and a profit is a profit . There is always opportunity to make a profit . There are people making profit in Venezuela where inflation is greater than 1,000,000% just takes the ability to find the opportunity to make a little. Remember Richard Pryor in Superman he made a very little from every transaction. There were however thousands of transactions It’s none of my business, but I don’t think it’s a good idea to gamble your Mum’s care home fees on these p2p platforms. The risks are far too great. There’s constant speculation that LY and FS are going to imminently go under and whilst so far that hasn’t been the case I don’t think these fears are unfounded by any means. That’s not to mention all the other risks. Appreciate you sharing your experience and motivations here on the forum though. Best of luck.
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rookey123
Member of DD Central
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Post by rookey123 on Sept 6, 2018 8:20:46 GMT
I think it's appalling that people on this forum make insinuations on platforms going out of business. You should act more responsibly. These platforms are in the main FCA regulated and while risky everyone has their eyes open and is aware of the risks. Just think of the people who work on these platforms, let alone fellow investors and borrowers before you comment. If you have nothing better to do then go elsewhere.
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Post by Proptechfish on Sept 6, 2018 8:24:35 GMT
I think it's appalling that people on this forum make insinuations on platforms going out of business. You should act more responsibly. These platforms are in the main FCA regulated and while risky everyone has their eyes open and is aware of the risks. Just think of the people who work on these platforms, let alone fellow investors and borrowers before you comment. If you have nothing better to do then go elsewhere. I guess you're not tied up in COL then ?
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number5
Member of DD Central
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Post by number5 on Sept 6, 2018 8:31:27 GMT
It’s none of my business, but I don’t think it’s a good idea to gamble your Mum’s care home fees on these p2p platforms. The risks are far too great. There’s constant speculation that LY and FS are going to imminently go under and whilst so far that hasn’t been the case I don’t think these fears are unfounded by any means. That’s not to mention all the other risks. Appreciate you sharing your experience and motivations here on the forum though. Best of luck. Have been doing this 3+ years now for P2P part of my investments . My mother would have lost 70% of her money in fees instead she still has all here money +30% and all her fees have been paid.
You say platforms will go under. ?? As far as I'm aware there has been no FCA approved platform "go under" where investors lost capital.
In the old days with non asset secured investments and non-ringfenced lender accounts where you lent to the company you could loose. (still very few of those in uk)
That is not the case now where your contract is with the borrower and the platform mearly act as managment agents and client funds are separate from the company's funds.
The platforms must also have interim managment plan to run down the loanbook in the event of platform failure.
By selling before due date most of the other risks of P2P and all of the tax in some cases can be eliminated. Investments that lower overall return (or losses as some call them ) can be ofset against interest where tax is due.
I would be more worried about money invested in the stock market where you can loose large amounts at the drop of a terroist bomb.
With over £300k in S&S and bonds etc. It can easily have drop 10's of thousands in a few days. A 1% drop would have paid fees for a month.
Every day my P2P investments go up by at least £0.36/£1000 a day
My mother's and family portofilios amunt to over a million are well diversified over several investment vectors that I loose no sleep over worry of loosing money and making a overall loss due to platform failure. Even mid £20'sK in Collateral does not particulary worry me. Even if it were 100% loss I would still be up overall and all of it would be able to be offset makibg overall return even higher.
I've asked many times before for anyone who has made an overall loss in FCA approved P2P with properly diversified investment to let us know.
To date NOBODY has come forward .
Out of curiosity where is the majority of your over a million invested..i.e. if p2p, which platform?
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blender
Member of DD Central
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Post by blender on Sept 6, 2018 8:43:35 GMT
I think it's appalling that people on this forum make insinuations on platforms going out of business. You should act more responsibly. These platforms are in the main FCA regulated and while risky everyone has their eyes open and is aware of the risks. Just think of the people who work on these platforms, let alone fellow investors and borrowers before you comment. If you have nothing better to do then go elsewhere. I guess you're not tied up in COL then ? COL was not FCA regulated, it turns out. Nobody was speculating about COL going out of business before it actually did. Speculation about platforms going out of business (without hard evidence) have always been discouraged on this forum. One problem is that the honest poster may just get it wrong (missing COL). The other is that a dishonest poster might be seeking to manipulate a secondary market. Factual information is fine. Comments about the performance of platforms is fine. Speculation about possible failures is irresponsible and damaging, imo.
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Post by Proptechfish on Sept 6, 2018 8:57:11 GMT
I guess you're not tied up in COL then ? COL was not FCA regulated, it turns out. Nobody was speculating about COL going out of business before it actually did. Speculation about platforms going out of business (without hard evidence) have always been discouraged on this forum. One problem is that the honest poster may just get it wrong (missing COL). The other is that a dishonest poster might be seeking to manipulate a secondary market. Factual information is fine. Comments about the performance of platforms is fine. Speculation about possible failures is irresponsible and damaging, imo.
I was attempting to be slightly 'tongue and cheek'. I agree the constant platform bashing gets tiresome and achieves little. But given the COL situation i understand the nervousness it has created, promoting such 'preemptive' doom and gloom scenarios. For me, as stated previously i don't think LY are on the brink, maybe a sale down the line. Nor do i think FS are, still working out personally weather i'm happy with what i'm seeing, and for MT despite recent sour loans i personally do not recognise the level of criticism and it's actually one of my strongest performers right now.
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rookey123
Member of DD Central
Posts: 75
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Post by rookey123 on Sept 6, 2018 13:10:48 GMT
I actually am in COL and more fool me for not realising it was not FCA registered. I have a reasonable amount in it and am looking forward to seeing how the administration will pan out as platform risk and wind down plans are vital to instill confidence in the sector (realising of course that the wind down of COL could end differently to a FCA regulated wind down).
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Sept 6, 2018 15:53:01 GMT
Have been doing this 3+ years now for P2P part of my investments . My mother would have lost 70% of her money in fees instead she still has all here money +30% and all her fees have been paid.
You say platforms will go under. ?? As far as I'm aware there has been no FCA approved platform "go under" where investors lost capital.
In the old days with non asset secured investments and non-ringfenced lender accounts where you lent to the company you could loose. (still very few of those in uk)
That is not the case now where your contract is with the borrower and the platform mearly act as managment agents and client funds are separate from the company's funds.
The platforms must also have interim managment plan to run down the loanbook in the event of platform failure.
By selling before due date most of the other risks of P2P and all of the tax in some cases can be eliminated. Investments that lower overall return (or losses as some call them ) can be ofset against interest where tax is due.
I would be more worried about money invested in the stock market where you can loose large amounts at the drop of a terroist bomb.
With over £300k in S&S and bonds etc. It can easily have drop 10's of thousands in a few days. A 1% drop would have paid fees for a month.
Every day my P2P investments go up by at least £0.36/£1000 a day
My mother's and family portofilios amunt to over a million are well diversified over several investment vectors that I loose no sleep over worry of loosing money and making a overall loss due to platform failure. Even mid £20'sK in Collateral does not particulary worry me. Even if it were 100% loss I would still be up overall and all of it would be able to be offset makibg overall return even higher.
I've asked many times before for anyone who has made an overall loss in FCA approved P2P with properly diversified investment to let us know.
To date NOBODY has come forward .
Out of curiosity where is the majority of your over a million invested..i.e. if p2p, which platform?
We have 300K or so in SIPPs with Hargreaves landsdown and AJ Bell 300k in Property B2L about 400K spread over Lendy, FS, FC , welendus and MT and COll we never invest more than 1% of any platform investment in any one loan. A few other places.
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number5
Member of DD Central
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Post by number5 on Sept 6, 2018 15:58:15 GMT
We have 300K or so in SIPPs with Hargreaves landsdown and AJ Bell 300k in Property B2L about 400K spread over Lendy, FS, FC , welendus and MT and COll we never invest more than 1% of any platform investment in any one loan. A few other places. From Lendy, FS, FC , welendus and MT - where is the majority invested?
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Sept 6, 2018 16:08:42 GMT
We have 300K or so in SIPPs with Hargreaves landsdown and AJ Bell 300k in Property B2L about 400K spread over Lendy, FS, FC , welendus and MT and COll we never invest more than 1% of any platform investment in any one loan. A few other places. From Lendy, FS, FC , welendus and MT - where is the majority invested? Fs 300K Lendy 200 K actually now I add them all up as these are in different accounts on each platform p2p over 600k alone most in FISAs
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number5
Member of DD Central
Posts: 449
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Post by number5 on Sept 6, 2018 16:12:53 GMT
From Lendy, FS, FC , welendus and MT - where is the majority invested? Fs 300K Lendy 200 K actually now I add them all up as these are in different accounts on each platform p2p over 600k alone most in FISAs 600k in p2p that is nuts! Never invested on Lendy before...what is that like as a platform compared to FS? Liquidity...cash drag...rates...etc...?
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Post by df on Sept 6, 2018 16:13:09 GMT
I actually am in COL and more fool me for not realising it was not FCA registered. I have a reasonable amount in it and am looking forward to seeing how the administration will pan out as platform risk and wind down plans are vital to instill confidence in the sector (realising of course that the wind down of COL could end differently to a FCA regulated wind down). You're not alone. Hardly anyone realised that COL is not regulated by FCA or foreseen sudden collapse of platform.
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snowmobile
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Post by snowmobile on Sept 6, 2018 16:25:35 GMT
I actually am in COL and more fool me for not realising it was not FCA registered. I have a reasonable amount in it and am looking forward to seeing how the administration will pan out as platform risk and wind down plans are vital to instill confidence in the sector (realising of course that the wind down of COL could end differently to a FCA regulated wind down). You're not alone. Hardly anyone realised that COL is not regulated by FCA or foreseen sudden collapse of platform. Given that the FCA website was stating that COL was registered and had interim permissions, nobody could have realised until it was too late.
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. I need to make 25k a year to pay mother’s care home from her house sale/savings 
