trium
Member of DD Central
Posts: 384 
Likes: 304
|
Post by trium on Apr 15, 2019 19:58:16 GMT
I moved a bit more over last week but as I've posted elsewhere it's a struggle to find suitable loans that I'm not already in. The slowdown hasn't helped of course, neither has the appearance of 12-month loans (I welcome these in principle but trading restrictions currently make them a no-no) and neither has the appearance of minimum bids, which further restrict my already limited choice.
Like many platform newbies I began with a small pot to play around with while getting a feel for things. My intention was build up to around 100 loans before increasing my bid size. I have been unable to do this and currently have only 58 "different" loans though some I'm in more than once so 75 loans listed. The shortage of opportunities has led to my being tempted to compromise my selection criteria (and on occasions to my being careless in jumping at something) so I now have a few second charges and a couple of 12-month terms.
Lots of bad news lately has undermined confidence for me. I only have about 2.3% of capital in "unredeemed" loans (Cardiff and The D*ll) but many more seem to be in the pipeline (the Ba**y W**ds and Lytham loans look pretty hopeless and if defaulted those alone would take me to 10.25% of capital unredeemed)
Put me down as "undecided"
|
|
jcm9000
Member of DD Central
Posts: 181
Likes: 153
|
Post by jcm9000 on Apr 16, 2019 6:43:41 GMT
Nope. Had approx £10k in it over 100 or so loans, let it wind down since early last year, currently have 21 / 37 unredeemed over £3k (and a few of those damn art loans that aren't yet defaulted) and the years are going by on a few of them now. I can see the attraction if you flip them relatively quickly using the discounts which is possible and really what I should have done, although there are some howlers you simply could not foresee! I'll probably get £1k of the £3k back over the next couple of years which will give me a small loss overall so meh. I have bigger COL-lective problems....
|
|
ashtondav
Member of DD Central
Posts: 1,814
Likes: 1,092
|
Post by ashtondav on Apr 16, 2019 7:43:15 GMT
Started to withdraw a year or so ago when the incompetence began to be clear.
FS is for the brave and the foolhardy. Oh, and dodgy borrowers of course!
|
|
|
|
Post by beepbeepimajeep on Apr 16, 2019 20:46:57 GMT
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Apr 16, 2019 20:57:32 GMT
|
|
neal
Member of DD Central
Posts: 87
Likes: 55
|
Post by neal on Apr 17, 2019 13:44:52 GMT
I stopped investing new money in August 2018 and stopped reinvesting in December 2018. Currently 3/4 of my loans are behind and raising month on month. I won't to throwing any more money into the pit.
|
|
|
|
Post by petebutt43 on Apr 22, 2019 1:22:02 GMT
Both FS and LY are the only two P2P I can find that allow ex pats to invest and I had around £41000 invested at one time; I pulled most of it out a year ago and have stopped investing because of their appalling communications. Not true. Most platforms will allow ex-pats, with proof of identity.:- TC, abl, ac, fs, ly, rebs, to name but a few
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Apr 23, 2019 13:35:09 GMT
I am looking to transfer my prior year IFISA balances to AC, are there any charges from FS or AC to do this?
|
|
paulb
Member of DD Central
Posts: 131
Likes: 112
|
Post by paulb on Apr 23, 2019 14:53:28 GMT
I am looking to transfer my prior year IFISA balances to AC, are there any charges from FS or AC to do this? No, though bear in mind you'll only be able to transfer "available funds" - you'll need to sell any loans on the SM or wait for them to be repaid (which could take years...). You should be able to initiate a transfer, then have the money come through as it's available - I believe there were reports on here from other people of this working, but things might have changed.
|
|
number5
Member of DD Central
Posts: 449
Likes: 98
|
Post by number5 on Apr 23, 2019 15:13:12 GMT
I am looking to transfer my prior year IFISA balances to AC, are there any charges from FS or AC to do this? No, though bear in mind you'll only be able to transfer "available funds" - you'll need to sell any loans on the SM or wait for them to be repaid (which could take years...). You should be able to initiate a transfer, then have the money come through as it's available - I believe there were reports on here from other people of this working, but things might have changed. Cheers! How long does the transfer process take?
|
|
paulb
Member of DD Central
Posts: 131
Likes: 112
|
Post by paulb on Apr 23, 2019 21:37:28 GMT
I've no idea, I'm afraid - I've never transferred from an IFISA, only to them. I would have thought that the available funds would be transferred in the same sort of timeframes as cash - a couple of weeks or so.
|
|
|
|
Post by wangja on Apr 24, 2019 3:25:21 GMT
Not actively pulling out, but I am merely maintaining my pot at the amount paid in, taking out when that level is exceeded.
Overall, 35% of sum originally invested has been withdrawn and the original level maintained.
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Apr 24, 2019 6:11:50 GMT
I am looking to transfer my prior year IFISA balances to AC, are there any charges from FS or AC to do this? There are no charges either end and the process works well I have done this several times from FS
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
|
Post by jonno on Apr 24, 2019 7:33:52 GMT
No, though bear in mind you'll only be able to transfer "available funds" - you'll need to sell any loans on the SM or wait for them to be repaid (which could take years...). You should be able to initiate a transfer, then have the money come through as it's available - I believe there were reports on here from other people of this working, but things might have changed. Cheers! How long does the transfer process take? I've done a number of transfers and each time it has only taken a matter of days. It seems to be the one thing that FS are actually good at!
|
|
iRobot
Member of DD Central
Posts: 1,680
Likes: 2,477
|
Post by iRobot on Apr 24, 2019 19:24:04 GMT
Not actively pulling out, but I am merely maintaining my pot at the amount paid in, taking out when that level is exceeded. Overall, 35% of sum originally invested has been withdrawn and the original level maintained. Likewise, not actively pulling out, but with the noted reduction in origination, my actual £-amount invested is reducing due to sticking to self-imposed 'rules' on diversification.
|
|
