delboy
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Post by delboy on Feb 8, 2019 9:24:00 GMT
I can rest assured that my stinking cess-pit of dross will sell, at the latest, shortly after 6 April. Even as the smarter money leaves, there's bound to be a flood of dumb new ISA money.
Except that some of us were dumb enough to open an ISA this year, and after 6th April will be transferring it out smartly. Why wait until April to start selling out of your FC ISA? I'm transferring mine this side of April (if the loans ever actually sell).
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blender
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Post by blender on Feb 8, 2019 9:29:42 GMT
Because I can't open a new one with Assetz until then.
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Post by hammertime on Feb 8, 2019 10:34:18 GMT
Seems like everyone is still leaving F/C i think they will go bust soon. Hammertime, assume you’re all out of FC now so happy to stoke up an exodus? The exodus began !8 months ago .Keep up.
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Stonk
Stonking
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Post by Stonk on Feb 13, 2019 11:39:13 GMT
Bah! I have put most of my portfolio up for sale, thinking that a week would be enough time. My repayments are extremely clustered around the 10th to the 15th of the month, and I wanted to sell before they started coming in - or not coming in, more to the point! But perhaps I haven't allowed long enough ... I can rest assured that my stinking cess-pit of dross will sell, at the latest, shortly after 6 April. Even as the smarter money leaves, there's bound to be a flood of dumb new ISA money.
Maybe it really will take until the next tax year! I've had my loans up for sale for 10 days, and not a bite.
I'm hoping when I reach the front of the queue, all my loans will sell in one go before the next in the queue -- is that correct? I have parts up to £50, so they should not be too unwieldy to sell. This is a new experience for me ... I have done many sales before and it's never taken more then 5 minutes.
It certainly signals the end of my strategy to acquire a portfolio of brand new loans in a short time, then sell the lot just before their 2nd payments (or 3rd at the latest), then repeat. It worked well for 3 iterations! The only 2 problematic loans I've acquired by doing this were both from the SM.
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Post by Badly Drawn Stickman on Feb 13, 2019 12:39:07 GMT
I can rest assured that my stinking cess-pit of dross will sell, at the latest, shortly after 6 April. Even as the smarter money leaves, there's bound to be a flood of dumb new ISA money.
Maybe it really will take until the next tax year! I've had my loans up for sale for 10 days, and not a bite.
I'm hoping when I reach the front of the queue, all my loans will sell in one go before the next in the queue -- is that correct? I have parts up to £50, so they should not be too unwieldy to sell. This is a new experience for me ... I have done many sales before and it's never taken more then 5 minutes.
It certainly signals the end of my strategy to acquire a portfolio of brand new loans in a short time, then sell the lot just before their 2nd payments (or 3rd at the latest), then repeat. It worked well for 3 iterations! The only 2 problematic loans I've acquired by doing this were both from the SM.
I am wondering if the long delay in selling is not a reaction to your scurrilous activity, which I suspect others have used and possibly refined he said innocently. There does not actually seem to be a lot of loans being listed currently, I deposited a small amount in an empty account to 'test the market' but hopefully avoid SM clearance and it is not filling abnormally quickly. FC are remarkably cunning sometimes.
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Post by badinvestor on Feb 13, 2019 12:55:50 GMT
It's been 9 days for me with £5k from a £30k account up for sale and not a single loan part has sold.
I have had a few conversations with FC and they have told me the following:
1) There has been no update or change to the selling algorithm.
2) Nobody at FC knows how long the queue is.
3) The delay is down to supply and demand.
I have taken the first two of these statements with an overdose of salt and the third is self-evident.
I don't think that the free gift campaign has helped but this can't be the only factor at play here.
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benaj
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Post by benaj on Feb 13, 2019 13:40:48 GMT
The selling process is definitely a lot longer than before, but it's "acceptable" at the moment. It was less than 2 weeks for my last loans sale. Unlike other platforms, some non performing investments could be "stuck" more than 12 months without any time line to get money back.
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Feb 13, 2019 16:12:36 GMT
Maybe it really will take until the next tax year! I've had my loans up for sale for 10 days, and not a bite.
I'm hoping when I reach the front of the queue, all my loans will sell in one go before the next in the queue -- is that correct? I have parts up to £50, so they should not be too unwieldy to sell. This is a new experience for me ... I have done many sales before and it's never taken more then 5 minutes.
It certainly signals the end of my strategy to acquire a portfolio of brand new loans in a short time, then sell the lot just before their 2nd payments (or 3rd at the latest), then repeat. It worked well for 3 iterations! The only 2 problematic loans I've acquired by doing this were both from the SM.
I am wondering if the long delay in selling is not a reaction to your scurrilous activity, which I suspect others have used and possibly refined he said innocently. There does not actually seem to be a lot of loans being listed currently, I deposited a small amount in an empty account to 'test the market' but hopefully avoid SM clearance and it is not filling abnormally quickly. FC are remarkably cunning sometimes.
It had crossed my mind that I was being penalised for, as I would put it, efficiently using the mechanisms offered by the system to test a hypothesis. But selling has slowed down for everyone, it seems, so I don't actually think it is FC being cunning.
If it is Foxily Cunning, then they have shot themselves in the foot, because when my portfolio sells this time I will find it difficult to justify reinvesting. My experience of the strategy of "buy loans and keep them" has been dire, to say the least.
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Post by poptart on Feb 17, 2019 22:59:02 GMT
I got an unsolicited pop-up message from FC on the selling page:
"Stay in the queue to sell your loans
Selling times can fluctuate due to changes in demand from investors looking to buy and sell loans. You may find that it takes a longer or shorter time to sell than you have previously experienced.
Our selling tool works on a first-come first-served basis, so cancelling a sale and starting again will put you to the back of the queue. To sell your loans as fast as possible, please keep them in the queue."
I don't recall seeing this before. Selling times must be really slow at the moment (my latest have already been on sale for a couple of weeks) so perhaps folk are complaining.
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ceejay
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Post by ceejay on Feb 18, 2019 9:44:33 GMT
Because I can't open a new one with Assetz until then. Puzzled. You do realise that you can open as many IFISAs as you like in one tax year, as long as you only put NEW money into ONE of them?
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delboy
Member of DD Central
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Post by delboy on Feb 18, 2019 10:06:42 GMT
Quick update on time to sell - I put the whole of my FC ISA on sale on 5 Feb (about 21k) and it 'all' sold in one go this morning, so just under 2 weeks. Frustratingly, around 1.6k remains unsellable due to late payment and bad debt, which is quite a chunk and, should it not ultimately be recovered, will have made the entire exercise of investing through FC pointless.
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ashtondav
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Post by ashtondav on Feb 18, 2019 10:24:36 GMT
Quick update on time to sell - I put the whole of my FC ISA on sale on 5 Feb (about 21k) and it 'all' sold in one go this morning, so just under 2 weeks. Frustratingly, around 1.6k remains unsellable due to late payment and bad debt, which is quite a chunk and, should it not ultimately be recovered, will have made the entire exercise of investing through FC pointless. And Therin lies the “problem” with most, if not all p2p platforms. Achieving estimated returns depends on staying in for the long term, about 5 years, and reinvesting capital and interest. Hardly any platform delivers once reinvestmens are not made, loans are sold and money withdrawn. It’s a long term product.
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delboy
Member of DD Central
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Post by delboy on Feb 18, 2019 10:30:52 GMT
Quick update on time to sell - I put the whole of my FC ISA on sale on 5 Feb (about 21k) and it 'all' sold in one go this morning, so just under 2 weeks. Frustratingly, around 1.6k remains unsellable due to late payment and bad debt, which is quite a chunk and, should it not ultimately be recovered, will have made the entire exercise of investing through FC pointless. And Therin lies the “problem” with most, if not all p2p platforms. Achieving estimated returns depends on staying in for the long term, about 5 years, and reinvesting capital and interest. Hardly any platform delivers once reinvestmens are not made, loans are sold and money withdrawn. It’s a long term product. So you are assuming that a large proportion of that which I currently cannot sell will at some point be recovered? That, I think, is the problem; It won't. Or at least it won't to any degree necessary to make the investment worthwhile, relative to the risk. If I had wanted a 3% return over 5 years, I would have looked elsewhere.
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ashtondav
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Post by ashtondav on Feb 18, 2019 11:48:32 GMT
No, I am saying that you are only going to make the estimated returns if you invest for at least 5 years at the appropriate diversification level, reinvest capital and interest and neither sell or withdraw money.
Do anything else and you run the risk of underperforming.
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IFISAcava
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Post by IFISAcava on Feb 18, 2019 12:43:31 GMT
Because I can't open a new one with Assetz until then. Puzzled. You do realise that you can open as many IFISAs as you like in one tax year, as long as you only put NEW money into ONE of them? but presumably the issue is that you can only transfer a current year ISA in full, which won't be possible if there are still unsold loans. Whereas after April you can do a partial transfer of previous year's ISA and thus get out whatever cash is there.
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