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Post by gravitykillz on Jan 15, 2019 10:52:56 GMT
Was just wondering the average amount people are investing with growth street considering their llc coverage is now below 5% ? Do you guys still have faith in this p2p lender ?
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Post by gravitykillz on Jan 15, 2019 12:54:08 GMT
Well i have opened a account and chucked in 2k. Is that alot ? I would do more but common sense is stopping me investing here.
Well at least until pf coverage goes above 7%. Which maybe in 2020.
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Post by davids on Jan 15, 2019 13:10:28 GMT
The worrying thing to me was only £500k ISH added to the llp from borrowers payments whereas (-£922,135) was paid out
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Post by df on Jan 15, 2019 19:00:41 GMT
Was just wondering the average amount people are investing with growth street considering their llc coverage is now below 5% ? Do you guys still have faith in this p2p lender ? Currently, LLP coverage is 3.6% and expected default rate is 2.47%. Sounds relatively healthy to me. I've started on GS in May 2017 with 2k increasing gradually and recently made a significant top up. At the moment GS has 17% of my p2p funds (2nd biggest platform in my portfolio). Worked very well for me so far, so I guess I have some faith in GS.
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alibaba
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Post by alibaba on Jan 16, 2019 16:58:23 GMT
I have six figures invested in GS, very pleased to date, very professional and responsive company, I intend to visit their offices in the next few months and will report back.
Also invested in AC, BC, HNW, CP, Proplend, BM and for my sins TC.
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cwah
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Post by cwah on Jan 17, 2019 23:38:35 GMT
I have six figures invested in GS, very pleased to date, very professional and responsive company, I intend to visit their offices in the next few months and will report back. Also invested in AC, BC, HNW, CP, Proplend, BM and for my sins TC. Why did you put so much on GS? I do not like the lack of transparency because i have no idea which company are borrowing and what their financial status is. The interest rate at 5% is ok but it feels too low for the risk involved. If crisis were to happen and default creeps up, you risk loosing lots money for a small 5% interest/year. And you may not need that much to have load of overdebted companies defaulting... Just imagine if brexit leads to large inflation in the country, then the BoE will have no choice than to increase interest rate and default will creep up! Just saying 1 potential scenario! I largely prefer having visibility on what the security is with bridging loan, or buy stock after having checked company healthyness from financial statements!
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ceejay
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Post by ceejay on Jan 18, 2019 10:07:39 GMT
I have six figures invested in GS, very pleased to date, very professional and responsive company, I intend to visit their offices in the next few months and will report back. Also invested in AC, BC, HNW, CP, Proplend, BM and for my sins TC. Why did you put so much on GS? I do not like the lack of transparency because i have no idea which company are borrowing and what their financial status is. The interest rate at 5% is ok but it feels too low for the risk involved. If crisis were to happen and default creeps up, you risk loosing lots money for a small 5% interest/year. And you may not need that much to have load of overdebted companies defaulting... Just imagine if brexit leads to large inflation in the country, then the BoE will have no choice than to increase interest rate and default will creep up! Just saying 1 potential scenario! I largely prefer having visibility on what the security is with bridging loan, or buy stock after having checked company healthyness from financial statements! I think this is slightly overstated. GS have a particular offering and it has a number of advantages - "hands-off" is a major benefit for many, the website is very straightforward and easy to use. Sure, if you want to spend the time reading statements then do that and earn a few more points of interest.
As to whether the return is worth the risk - that's a much harder one. IMHO this has a lot to do with external factors and will change from time to time. In relatively stable times I think the GS offering is excellent and have used it. OTOH, when you can see a lot of rocks ahead, it may not be such a smart place to keep significant funds, especially if the PF is having to be held up by external funding. I guess we each need to make our own judgement about where we are right now!
Personally I am somewhat bearish on P2P at the moment and am reducing (not eliminating) holdings across the board, with GS at the head of the list for reduction because of their exposure to businesses who will be in the front line if either Brexit or Trump blows everything up.
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cwah
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Post by cwah on Jan 18, 2019 18:35:17 GMT
Why did you put so much on GS? I do not like the lack of transparency because i have no idea which company are borrowing and what their financial status is. The interest rate at 5% is ok but it feels too low for the risk involved. If crisis were to happen and default creeps up, you risk loosing lots money for a small 5% interest/year. And you may not need that much to have load of overdebted companies defaulting... Just imagine if brexit leads to large inflation in the country, then the BoE will have no choice than to increase interest rate and default will creep up! Just saying 1 potential scenario! I largely prefer having visibility on what the security is with bridging loan, or buy stock after having checked company healthyness from financial statements! I think this is slightly overstated. GS have a particular offering and it has a number of advantages - "hands-off" is a major benefit for many, the website is very straightforward and easy to use. Sure, if you want to spend the time reading statements then do that and earn a few more points of interest.
As to whether the return is worth the risk - that's a much harder one. IMHO this has a lot to do with external factors and will change from time to time. In relatively stable times I think the GS offering is excellent and have used it. OTOH, when you can see a lot of rocks ahead, it may not be such a smart place to keep significant funds, especially if the PF is having to be held up by external funding. I guess we each need to make our own judgement about where we are right now!
Personally I am somewhat bearish on P2P at the moment and am reducing (not eliminating) holdings across the board, with GS at the head of the list for reduction because of their exposure to businesses who will be in the front line if either Brexit or Trump blows everything up.
Isn't hands off same as if you were to invest some ££ in every lendy loans? Like buying lendy wealth new offer? As they have over 50% default you'd have as well 50% of your loans in default. What would be the difference?
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Post by df on Jan 19, 2019 13:30:29 GMT
I think this is slightly overstated. GS have a particular offering and it has a number of advantages - "hands-off" is a major benefit for many, the website is very straightforward and easy to use. Sure, if you want to spend the time reading statements then do that and earn a few more points of interest.
As to whether the return is worth the risk - that's a much harder one. IMHO this has a lot to do with external factors and will change from time to time. In relatively stable times I think the GS offering is excellent and have used it. OTOH, when you can see a lot of rocks ahead, it may not be such a smart place to keep significant funds, especially if the PF is having to be held up by external funding. I guess we each need to make our own judgement about where we are right now!
Personally I am somewhat bearish on P2P at the moment and am reducing (not eliminating) holdings across the board, with GS at the head of the list for reduction because of their exposure to businesses who will be in the front line if either Brexit or Trump blows everything up.
Isn't hands off same as if you were to invest some ££ in every lendy loans? Like buying lendy wealth new offer? As they have over 50% default you'd have as well 50% of your loans in default. What would be the difference? I don't know how Lendy Wealth works in practice, but I see a big difference between investing via Ly and GS. With GS I'm earning my promised 5.x%. I don't need to do anything except occasional deposit or withdrawal. With Lendy I'm looking at substantial loss when (and if) the recoveries are complete. I've spent enormous amount of time on maintenance over past 2+ years.
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alibaba
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Post by alibaba on Jan 19, 2019 15:00:01 GMT
I have come to the same conclusion, I have had similar experience with AC and TC, at least with GS I get my stated return, however I accept an element of risk which is applicable to all p2p (some more than others).
As to world events and outside factors, who knows.
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ceejay
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Post by ceejay on Jan 19, 2019 19:37:48 GMT
I have come to the same conclusion, I have had similar experience with AC and TC, at least with GS I get my stated return, however I accept an element of risk which is applicable to all p2p (some more than others). As to world events and outside factors, who knows. My experience with GS is wholly positive - I've handed over money, got the expected return, and got my money back when I asked. Can't ask for more than that. I particularly like the fact that in anything remotely resembling normal conditions, you can have all your money back in 30 days - just turn off reinvestment. So if you start to get smell some whiffy stuff in the air, you can do something about it.
Contrast this with my AC MLA holdings - which I am also happy with, BTW. There, of course there are a few iffy loans but no more than expected and if I call them losses then my overall return is still satisfactory. BUT ... there are also some loans, which aren't distressed in any way, which I've been unable to sell - there appears to be no market to buy them. (No, I'm not being undercut by discounters). For these loans I will just have to wait until they come to a natural (or unnatural) end. This can happen with any of the other similar platforms, of course. But it's not an issue at GS, which is a plus point for them.
On the last point - "As to world events and outside factors, who knows." - well, of course I have no crystal ball but that's too fatalistic for my taste. Just because I can't have perfect knowledge doesn't mean I can't use my eyes and ears to get some idea of when to put the umbrella up.
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cwah
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Post by cwah on Jan 19, 2019 21:20:29 GMT
Lendy wealth is exactly that. You put money in your wealth account and you receive money monthly without any thinking or hassle.
You can get the 6% return in which case you lock your funds for 2 months or the 10% with your funds locked for a year.
No worries. No thinking. No hassle.
Obviously.. these are all true until too many default happen and lendy won't be able to pay back...
So if you like GS concept, you may as well go on with lendy wealth and earn higher interest
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Post by p2plender on Jan 20, 2019 3:56:24 GMT
However Lendy dress things up, I would not park 1 cent of my money with this company.
"Wealth" my ars-
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Post by gravitykillz on Jan 20, 2019 7:01:01 GMT
Maybe i am wrong but gs business i believe is providing short term credit to businesses who provide some form of collateral security. Is that not better than providing long term credit for individuals without any form of security that most of the other platforms do?
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cwah
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Post by cwah on Jan 20, 2019 9:58:06 GMT
Maybe i am wrong but gs business i believe is providing short term credit to businesses who provide some form of collateral security. Is that not better than providing long term credit for individuals without any form of security that most of the other platforms do? I think you have various type of loans: - bridging loan (fs, lendy, mt...): Security on asset and personal guarantee. - personal loans (ratesetters, zopa, mintos...): Unsecured + personal guarantee - business loans (ac, fc, gs): unsecured + personal guarantee I tend to prefer bridging loans because there is a security although higher risk of default when it comes to development loans. Business loans like the one in gs have lower default rate but much lower chance of recovery. My view is that it works 99% of the time... But when it doesn't work it's over!
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