arby
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Post by arby on Apr 24, 2019 19:53:16 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 Overall, 35% of sum originally invested has been withdrawn and the original level maintained.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. Yes, with recent repayments I have money sat in the account for the first time in a while.
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chunkie
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Post by chunkie on May 13, 2019 17:19:26 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 I should have been more specific, I’m an ex pat but a USA resident and most don’t allow that; certainly ABL doesn’t.
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Post by brettb on May 22, 2019 23:29:19 GMT
I've been actively winding down all my P2P's since 2016. I'm thankful that the money I have in FS is now all earned interest. I'm not hopeful I'll see much of it back though. I mean they can't even manage to sell a house in a highly sought after area like Knaresborough.
I still have reasonable faith in LendInvest, although I visited their offices a couple of years ago and it looked very "bubbly". Maybe that's why I stopped investing in P2P.
I have a tonne of bad loans in Assetz and of course Lendy is a horror show.
I guess platform failure will be an issue from next year when these companies start running low on their own capital.
You can still potentially make some good money if you prowl secondary markets and know what you're doing. But as I say, I think P2P is cooked.
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aj
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Post by aj on May 23, 2019 8:20:09 GMT
I wouldn't say that P2P is cooked yet.
I am winding down my holdings as well, as I think some big losses across the sector are soon to be realised and there are more potential platform collapses on the way. P2P has been a victim of its own success and there have been some stupid loans made because of the amount of money pouring into the industry.
However as these losses realise and money moves out of P2P, and i'm thinking the lack of supply will start to push loan quality and interest rates up again. Within the next 12 months, i'm expecting to see some decent opportunities start to appear again. When this happens I will certainly consider beginning to increase my holdings again.
In order to consider new investment in FS in future, I'm not expecting recoveries on their silly loans like experimental/racing boats or caravans valued more than a house but some meaningful progress on their property loans is vital for their future.
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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 May 23, 2019 8:48:00 GMT
I wouldn't say that P2P is cooked yet. I am winding down my holdings as well, as I think some big losses across the sector are soon to be realised and there are more potential platform collapses on the way. P2P has been a victim of its own success and there have been some stupid loans made because of the amount of money pouring into the industry. However as these losses realise and money moves out of P2P, and i'm thinking the lack of supply will start to push loan quality and interest rates up again. Within the next 12 months, i'm expecting to see some decent opportunities start to appear again. When this happens I will certainly consider beginning to increase my holdings again. In order to consider new investment in FS in future, I'm not expecting recoveries on their silly loans like experimental/racing boats or caravans valued more than a house but some meaningful progress on their property loans is vital for their future. Never easy to weigh up investing over natural apprehension there will be investments that fail to provide expected returns. The current state of FS secondary market is very good for those wishing to alleviate risk from holding to completion. Anyone wishing to sell before lock in will have no problem. This is good for the smaller investors just wanting a nice 10% tax free with minimum risk. The risks should always be considered for holding to completion just in case but if getting out is you choice it is now considerably easier. Given that further investment in FS now much better scrutinised loan offerings is more attractive should they also strengthen their recovery process their future should be brighter and outcomes for investors better.
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arby
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Post by arby on May 23, 2019 16:47:29 GMT
Judging by the £115k loan with £5k/investor restriction that disappeared almost instantly today I'd suggest a lot of people still broadly trust the platform if they see a loan they like.
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09dolphin
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Post by 09dolphin on May 23, 2019 18:45:25 GMT
I gave up on this P2P lender about 2 years ago and I am now out of patience.
In all honesty I can't imagine why basic investors such as I am would consider risking any more money but perhaps much more sophisticated investors are prepared to risk their money. And good luck to them. I approve of taking risks but what I don't approve of is the dishonesty FS demonstrate in their dealings with small investors and I will punish them for this.
As people like me who based their investments decisions on the information given by FS and where this information was misleading at best and at worst was fraudulent I am about to take action to recover my losses. Good luck to FS in explaining their decisions in open court.
In all honesty I don't care if I make FS bankrupt. If they have been as dishonest as I believe them to have been they deserve to be exposed as such and if their assertions actually reflected the facts they will remain solvent.
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Post by beepbeepimajeep on May 23, 2019 18:55:10 GMT
When I look at my Funding Secure outstanding loan portfolio.  |
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arby
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Post by arby on May 23, 2019 20:51:44 GMT
Judging by the £115k loan with £5k/investor restriction that disappeared almost instantly today I'd suggest a lot of people still broadly trust the platform if they see a loan they like. Do you term this a lot when they say they have 5000 investors globally, strange how people see things in a hopeful light. (INTERESTING ). Having 50 people ready to drop a few k into a loan over lunchtime with less than an hour of notice isn't bad. Strange how people see things in a pessimistic light. (INTERESTING).
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 23, 2019 23:49:30 GMT
I gave up on this P2P lender about 2 years ago and I am now out of patience. In all honesty I can't imagine why basic investors such as I am would consider risking any more money but perhaps much more sophisticated investors are prepared to risk their money. And good luck to them. I approve of taking risks but what I don't approve of is the dishonesty FS demonstrate in their dealings with small investors and I will punish them for this. As people like me who based their investments decisions on the information given by FS and where this information was misleading at best and at worst was fraudulent I am about to take action to recover my losses. Good luck to FS in explaining their decisions in open court. In all honesty I don't care if I make FS bankrupt. If they have been as dishonest as I believe them to have been they deserve to be exposed as such and if their assertions actually reflected the facts they will remain solvent. If you're aiming to make FS bankrupt, you won't be very popular amongst other lenders. We have a genuine claim against the FCA for misleading lenders about the Register w.r.t Collateral, we don't need to create our own platform failure. Even if you did win a claim, I imagine FS will insist the Court take into account all the interest from your good FS loans, and offset these against your bad loans. If you are still negative then I imagine the diversity of your portfolio will be considered. The average return across all FS loans is currently very positive. Therefore, you may win your case, but be awarded nothing.
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locutus
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Post by locutus on May 24, 2019 8:07:04 GMT
09dolphin If you're aiming to make FS bankrupt, you won't be very popular amongst other lenders. We have a genuine claim against the FCA for misleading lenders about the Register w.r.t Collateral, we don't need to create our own platform failure. Even if you did win a claim, I imagine FS will insist the Court take into account all the interest from your good FS loans, and offset these against your bad loans. If you are still negative then I imagine the diversity of your portfolio will be considered. The average return across all FS loans is currently very positive. Therefore, you may win your case, but be awarded nothing.
I don't think FS will be going bankrupt over £5k to £10k which I believe is 09dolphin's remaining investment on FS.
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rogerthat
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Post by rogerthat on May 24, 2019 9:31:55 GMT
09dolphin If you're aiming to make FS bankrupt, you won't be very popular amongst other lenders. We have a genuine claim against the FCA for misleading lenders about the Register w.r.t Collateral, we don't need to create our own platform failure. Even if you did win a claim, I imagine FS will insist the Court take into account all the interest from your good FS loans, and offset these against your bad loans. If you are still negative then I imagine the diversity of your portfolio will be considered. The average return across all FS loans is currently very positive. Therefore, you may win your case, but be awarded nothing.
I don't think FS will be going bankrupt over £5k to £10k which I believe is 09dolphin 's remaining investment on FS. Of course they wont..its absurd. But they possibly could if the person/s who has/have 1/2mill in the Art Loans run out of patience..then what ?
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09dolphin
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Post by 09dolphin on May 24, 2019 10:23:53 GMT
09dolphin If you're aiming to make FS bankrupt, you won't be very popular amongst other lenders. We have a genuine claim against the FCA for misleading lenders about the Register w.r.t Collateral, we don't need to create our own platform failure. Even if you did win a claim, I imagine FS will insist the Court take into account all the interest from your good FS loans, and offset these against your bad loans. If you are still negative then I imagine the diversity of your portfolio will be considered. The average return across all FS loans is currently very positive. Therefore, you may win your case, but be awarded nothing.
I don't think FS will be going bankrupt over £5k to £10k which I believe is 09dolphin 's remaining investment on FS. I'm not interested in popularity but I am interested in honesty etc. which I believe all business should be conducted with, obviously a concept foreign to FS. Whilst I doubt that I personally can make FS bankrupt I do believe I will open the door to all the other small and medium investors who are being messed such a lot about by FS. 1 successful claim makes FS very vulnerable + they will have to justify their actions in open court and it will be worth it for that alone. Can't wait to hear why they still believe the powerboat loan should not be enforced, why they didn't comply with their own T@Cs in the art loans, why they lied about the security in the Lytham St Annes loan - the list goes on.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 24, 2019 10:32:03 GMT
I don't think FS will be going bankrupt over £5k to £10k which I believe is 09dolphin 's remaining investment on FS. Of course they wont..its absurd. But they possibly could if the person/s who has/have 1/2mill in the Art Loans run out of patience..then what ? I believe that lender is still actively investing and not necessarily negative overall.
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Doc
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Post by Doc on May 24, 2019 10:37:53 GMT
09dolphin, Noticed many of your posts on the powerboat thread, pushing for a fire sale of these assets.
Could you explain how enforcing the powerboat loan would benefit lenders with expected losses of 80-90 % if these are placed in a fire sale.
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