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Post by dan1 on Jun 17, 2019 21:05:31 GMT
A small surprise from the results.... more people exiting moneything than fundingsecure... puzzled I guess the clue is in actively withdrawing. Many in FS will be stuck in loans no longer available to sell or if they are available to sell they can't sell them because of the -1% restriction. The recent variable SM launch on MT allows deep discounting should you really wish to exit a "sellable" loan.
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corto
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one-syllabistic
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Post by corto on Jun 17, 2019 21:38:07 GMT
they are in serious need to kick a can over the line
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aju
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Post by aju on Jun 29, 2019 9:14:35 GMT
Shame Zopa is not on here as anyone reading their forum would get the impression that they may get some high numbers leaving or reducing lending on them.
In my own case I am not leaving them but have readjusted my investment levels recently largely whilst we see where the brexit debacle takes us. Especially as the case of leaving without a deal on WTO has the huge potential to increase defaults across a wide range of jobs. Sadly all borrowers both large and small are so close to going from well off to losing a lot if their jobs are one of the ones that could be hit in both uncertainty and the fallout of the decisions yet to be made.
For example my new son in law of 3 weeks was told on the eve of his wedding - a lavish affair in Ibiza - that he was being made redundant and his future had suddenly became most uncertain, he admirably kept this quiet until after the 3 day extravagance!. To be fair they are not borrowing money other than a mortgage on a rabbit hutch as they live and work in london and my daughter, his new wife is relatively safe at present - things may be interesting in the media area she is in soon though.
Just a thought that pays to remain focused on all aspects of investment - hopefully I won't have to help them too much and the wedding is all paid for - I think!.
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scc
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Post by scc on Jun 30, 2019 6:30:44 GMT
I'm definitely hearing of people cutting back on discretionary stuff apparently due to Brexit concerns from local restaurants and retailers. There is a bit of danger of a Brexit recession being a self-fulfilling prophecy if we are not careful. Agree on the need for caution re: consumer loans though.
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benaj
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Post by benaj on Jun 30, 2019 10:15:04 GMT
It needs a new poll, Lendy is already in administration, no chance for active withdrawal in pole position.
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IFISAcava
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Post by IFISAcava on Jun 30, 2019 10:21:02 GMT
I'm definitely hearing of people cutting back on discretionary stuff apparently due to Brexit concerns from local restaurants and retailers. There is a bit of danger of a Brexit recession being a self-fulfilling prophecy if we are not careful. Agree on the need for caution re: consumer loans though. Ah yes - good to get the excuses in early - it wasn't Brexit that caused the recession, it was just people's fears of Brexit! If only we'd all believed! Having said that - yes, people's behaviour of course interacts with the underlying economic fundamentals - and can amplify them.
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scc
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Post by scc on Jul 1, 2019 1:25:23 GMT
I'm definitely hearing of people cutting back on discretionary stuff apparently due to Brexit concerns from local restaurants and retailers. There is a bit of danger of a Brexit recession being a self-fulfilling prophecy if we are not careful. Agree on the need for caution re: consumer loans though. Ah yes - good to get the excuses in early - it wasn't Brexit that caused the recession, it was just people's fears of Brexit! If only we'd all believed! Having said that - yes, people's behaviour of course interacts with the underlying economic fundamentals - and can amplify them. Sigh. As a non-voting anarchist, I have no skin in the game on this one. I don't think positive thoughts would be enough to avoid a Brexit recession, but the absence of them could certainly be the trigger for one or ensure it is worse or start earlier/finish later. We can agree with your second para at least.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Jul 1, 2019 7:54:23 GMT
I am now having to withdraw from my favourite platform Mintos as they have suddenly stopped reinvestment of repayments for UK investors, which I now am.
I suspect the dead hand of the FCA will be responsible for this as they have had discussions with them. I have earned over 14000€ on Mintos with only 500 in default so am not at all pleased.
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archie
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Post by archie on Jul 1, 2019 8:40:06 GMT
I am now having to withdraw from my favourite platform Mintos as they have suddenly stopped reinvestment of repayments for UK investors, which I now am.
I suspect the dead hand of the FCA will be responsible for this as they have had discussions with them. I have earned over 14000€ on Mintos with only 500 in default so am not at all pleased.
Just in case you hadn't seen this article.
City watchdog rejects Mintos application
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JamesFrance
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Post by JamesFrance on Jul 1, 2019 9:00:16 GMT
Yes, they were thinking of having a UK business to attract more British investors, rather like Transferwise which is now FCA regulated but was founded in Estonia.
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Post by Deleted on Jul 10, 2019 9:04:35 GMT
Not a well thought out poll. The less popular P2P sites will have fewer investors and so a large percentage of people might be withdrawing their money from the site but it won't register as much as a smaller percentage taking out of a large site.
Anyway, to answer the question, all the sites that I am invested in. In most cases I have lost confidence lending to businesses; Funding Circle (fully divested), Assetz, Rebuilding Society (fully divested), Wellesley and the two platforms lending to individuals are not producing enough return (Rate Setter and Zopa).
After the initial euphoria P2P is not much better than a bank by return with no protection from platform failure.
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benaj
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Post by benaj on Jul 10, 2019 9:56:14 GMT
I am more happy with any platforms that allow me to withdraw money at least monthly rather 0 withdrawal at all. I don't see withdrawal is a negative thing, on some platforms, I top up more than I withdraw to suit my objectives.
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Post by Deleted on Jul 10, 2019 12:34:30 GMT
I am more happy with any platforms that allow me to withdraw money at least monthly rather 0 withdrawal at all. I don't see withdrawal is a negative thing, on some platforms, I top up more than I withdraw to suit my objectives. Maybe English is not your first language but you failed to understand my poll and you have failed to understand this one. The question in this poll is about winding-down your account with regards to closure not the ease at which you can withdraw.
There is also the chance that you are paid to write positive comments about P2P, in which case, GOOD LUCK!
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hazellend
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Post by hazellend on Jul 19, 2019 23:26:01 GMT
Actively fire selling to get out of property partner.
Hanging on to ABL rate.
Moneything, not sure.
They are my only 2 remaining sites apart from lockin at collateral and lendy
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Post by uksoul on Jul 21, 2019 12:49:40 GMT
Now selling Property Partner investments due to the sudden excessive new fees the recently installed CEO has introduced.
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