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Post by captainconfident on May 22, 2019 18:24:51 GMT
I'm a very long term small dabbler on Rebs and I thought I'd point out that there is a regular flow of new loans these days. After taking a lot of rough with the smooth over the years, my av. return is over 9% now and I reckon if you don't have a little bit of Rebs in your life, you're missing out.
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Post by Ace on May 22, 2019 19:35:46 GMT
I'm a very long term small dabbler on Rebs and I thought I'd point out that there is a regular flow of new loans these days. After taking a lot of rough with the smooth over the years, my av. return is over 9% now and I reckon if you don't have a little bit of Rebs in your life, you're missing out. Each time I'm tempted by this platform I end up deciding against it due to the ISA fees. They charge a 0.1% monthly ISA management fee. I don't know of any other platform that does this. I would have tried them long ago if it wasn't for this. They also say that they charge a £40 in and out ISA transfer fee "if you need help"! Not sure how they define this; we all need help in that we need them to process the transfer forms.
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seb8072
Member of DD Central
Posts: 177
Likes: 99
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Post by seb8072 on May 23, 2019 13:30:53 GMT
I'm a very long term small dabbler on Rebs and I thought I'd point out that there is a regular flow of new loans these days. After taking a lot of rough with the smooth over the years, my av. return is over 9% now and I reckon if you don't have a little bit of Rebs in your life, you're missing out. Every time I'm tempted I look at my list of non-performing/bad-debt loans, over £5k going back to mid 2015 and hardly a penny recovered and no hopeful updates. That pretty well wiped out my interest (no pun intended!). If Rebs at least kept us up to date with recovery news, even three to six months intervals and showed they were serious about recovery I might be tempted back in.
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Post by captainconfident on May 23, 2019 13:59:20 GMT
I'm a very long term small dabbler on Rebs and I thought I'd point out that there is a regular flow of new loans these days. After taking a lot of rough with the smooth over the years, my av. return is over 9% now and I reckon if you don't have a little bit of Rebs in your life, you're missing out. Every time I'm tempted I look at my list of non-performing/bad-debt loans, over £5k going back to mid 2015 and hardly a penny recovered and no hopeful updates. That pretty well wiped out my interest (no pun intended!). If Rebs at least kept us up to date with recovery news, even three to six months intervals and showed they were serious about recovery I might be tempted back in.
Fair comment, and I've got the same list of bad debt loans. I just accept that these high risk borrowers have little in the way of recoverable assets if things go wrong and I don't expect Rebs to have success in recovering much. But having taken and held a bit of every loan they've had, I'm still over 9% an annual interest which is better than all the other SME lending platforms I could name.
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baldpate
Member of DD Central
Posts: 548 
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Post by baldpate on May 28, 2019 22:01:34 GMT
Like captainconfident , I too have done all right out of my past investment in ReBS - somewhere around 9%, by my own reckoning. But that return came at a high cost in terms of time and nervous energy : constant monitoring of my portfolio and aggressive selling on the secondary market at the mearest hint of trouble. Only that way did I avoid much heavier losses, and that isn't the way I really care to operate.
Whilst I agree with captainconfident that "these high risk borrowers have little in the way of recoverable assets if things go wrong", that is no excuse for the lackadaisical approach that ReBS takes to recovery. Add their pig-headed insistence upon NOT treating loans as irrecoverable for income tax purposes until they are written off (which is clearly contrary to the intent of the guidance regarding "treating as irrecoverable"), and I finally decided last year that investing through ReBS simply isn't worth the effort. I sold out, and I'm glad I did.
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Post by danraj on Oct 14, 2019 8:19:21 GMT
Each time I'm tempted by this platform I end up deciding against it due to the ISA fees. They charge a 0.1% monthly ISA management fee. I don't know of any other platform that does this. I would have tried them long ago if it wasn't for this. They also say that they charge a £40 in and out ISA transfer fee "if you need help"! Not sure how they define this; we all need help in that we need them to process the transfer forms. we will waive the transfer in fee on amounts larger than £5k. Most other platforms take a margin on the loan, whereas we do not. 100% of the interest paid by borrowers is relayed onto lenders. Arguably, our 0.1% per month fee is good value by comparison to fees like the 1% per month charged on ThinCats loans, albeit hidden to lenders. Our default rates have significantly improved, as have our recovery skills. There is a lot still in recovery, but we are working with various cooperative borrowers to assists a turnaround. Where uncooperative, we are working with various enforcers. More risk adverse lenders can also buy microloans with the Buyback Guarantee. This will protect your portfolio from defaults in exchange for part of the margin.
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Post by danraj on Nov 7, 2019 20:30:21 GMT
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seb8072
Member of DD Central
Posts: 177
Likes: 99
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Post by seb8072 on Nov 8, 2019 18:26:34 GMT
Do you really mean "Maintain"?
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Post by danraj on Nov 9, 2019 17:49:03 GMT
Thanks for pointing out the typo. Damn autocorrect.
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